唯品会(VIPS.US):消费情绪仍较为温和 收入预计符合指引

华泰证券
27 Sep 2024

整体消费情绪仍较为温和,收入表现预计符合指引我们预计唯品会3Q24 收入同比下滑9.0%至207.1 亿元,符合此前公司指引(-10%~-5%yoy),主因整体消费情绪仍较为温和。展望4Q24,面对日益激烈的电商行业竞争,我们预计公司将以相对谨慎的投放策略实现较为稳健的经营成果,但或仍需在双十一大促期间适当投入应对竞争,以呵护其市场份额。我们维持公司2024/2025/2026 年非GAAP ...

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