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大摩：價格戰或第三季見頂 電商股最偏好阿里

Future Wealths
Future Wealths
24 7 月, 2025
One Min Read
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彭博社報道，摩根士丹利稱，目前尚不確定中國監管層是否會採取更嚴格的措施遏制互聯網平台價格戰，但激烈的競爭已經引起政府高度關注。預計價格競爭可能在三季度達到頂峰，隨後補貼可能逐步減少。在電商板塊，維持阿里巴巴(9988)、美團(3690)、京東(9618)的偏好順序。

原文: https://finance.mingpao.com/fin/instantf/20250724/1753324703019/%E5%A4%A7%E6%91%A9-%E5%83%B9%E6%A0%BC%E6%88%B0%E6%88%96%E7%AC%AC%E4%B8%89%E5%AD%A3%E8%A6%8B%E9%A0%82-%E9%9B%BB%E5%95%86%E8%82%A1%E6%9C%80%E5%81%8F%E5%A5%BD%E9%98%BF%E9%87%8C%22%20target=%22blank

Last Update: 24 7 月, 2025

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