免费体验“高时效”国际投行研报“T+0至T+1”“原研报”可至底部下载瑞银——阿里健康（0241.HK）——行业东风是否值得改变投资逻辑？精华翻译1. 核心投资观点：上调业绩预期及目标价，但维持“卖出”评级。2025年5月下调评级后，阿里健康自营（1P）销售增长超预期，但这主要源于药品（尤其是创新药、品牌药）从线下向线上的结构性转移，而非公司主动侧重自营或药品销售战略。尽管头部企业均将受益于该趋势...
Source Link免费体验“高时效”国际投行研报“T+0至T+1”“原研报”可至底部下载瑞银——阿里健康（0241.HK）——行业东风是否值得改变投资逻辑？精华翻译1. 核心投资观点：上调业绩预期及目标价，但维持“卖出”评级。2025年5月下调评级后，阿里健康自营（1P）销售增长超预期，但这主要源于药品（尤其是创新药、品牌药）从线下向线上的结构性转移，而非公司主动侧重自营或药品销售战略。尽管头部企业均将受益于该趋势...
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