《大行》摩通料阿里健康(00241.HK)平台销售未来持续增长 维持“中性”评级

阿斯达克财经
Dec 03, 2025

摩根大通研报指,阿里健康(00241.HK) 在2026财年上半年实现了17%的强劲收入增长,主要受惠于中国医药市场结构性变化下,原研处方药增长的强劲动能,以及淘宝即时零售带来的综合效应。摩通认为,虽然即时零售所带来的增量贡献及可持续性存在不确定性,但相信上述第一个因素将在可预示的未来继续推动平台销售增长。展望2026财年下半年,摩通建议投资者关注淘宝即时零售补贴程度的波动;潜在投资规模;补贴...

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