核心观点：阿里云AI 驱动+云出海节奏加快下继续环比加速，主站受益外卖协同效应+meta 逻辑演绎下延续稳健增长，闪购本季度投入加大但已进入减亏节奏。AI 在公司多项业务的赋能持续深入，看好公司AI 驱动下的增长潜力，给予目标价204.79港元，维持“买入”评级。中国电商：主站协同&Meta 逻辑驱动稳健增长，即时零售Q3 亏损加大进入减亏趋节奏。1）电商：我们预计电商业务FY26Q2 实现收入...
Source Link核心观点：阿里云AI 驱动+云出海节奏加快下继续环比加速，主站受益外卖协同效应+meta 逻辑演绎下延续稳健增长，闪购本季度投入加大但已进入减亏节奏。AI 在公司多项业务的赋能持续深入，看好公司AI 驱动下的增长潜力，给予目标价204.79港元，维持“买入”评级。中国电商：主站协同&Meta 逻辑驱动稳健增长，即时零售Q3 亏损加大进入减亏趋节奏。1）电商：我们预计电商业务FY26Q2 实现收入...
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