股道自然
09-03
美团二季度主要和狗东在打,你先搞清楚这一点。三季度才是给阿里放血的时候。
阿里出刀,美团重伤...
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href=\"https://laohu8.com/S/09988\">阿里</a>大涨19%...</p><p>这背后反映丐帮一个深刻现象,</p><p>先来说下阿里吧,二季度收入同比增长<strong>2%,</strong><span>净利润</span>同比增长<strong>76%</strong>(主要来自于出售土耳其电商公司)。</p><p>其中“即时零售”业务收入2024年同期增长<strong>12%</strong>,主要得益于外卖大战中“<strong>淘宝闪购</strong>”带来的订单量,</p><p><strong>目前淘宝闪购在短短</strong>4个月内覆盖了全国300多个城市,<strong>月活跃买家达</strong>3亿;</p><p>这里面有个重要的点:</p><p>就是外卖业务占阿里整体业务的比重很小,只有<strong>6%</strong>,主要业务还是电商(占比<strong>48%</strong>)增长10%和阿里云(占比<strong>13%</strong>)增长26%;</p><p>因此,外卖业务其实不是阿里的根基,这一点蒋凡在前几天阿里季度财报分析会上已经明确表示:</p><p>“闪购暂时赚不赚钱无所谓,阿里看的是电商整体收益,未来将减少市场投放的广告开支,转而扶持闪购的补贴力度。”</p><p><strong>人话说就是,蒋凡把闪购业务当成</strong>“抖+”玩了</p><img src=\"https://fid-75186.picgzc.qpic.cn/20250902225911185v2011o9m0t0jvff\"/><p><strong>并且效果还很不错,</strong>8月份淘宝APP月度活跃消费者<strong>同比增长了</strong>25%,日活用户也增长了近<strong>5000万</strong>。</p><p>反观美团就惨了。</p><p>今年二季度,美团经调整净利润约为<strong>14.93亿元</strong>,相比去年下降<strong>89%</strong><strong>;</strong></p><p>经营利润仅2.26亿元,同比下降<strong>98%</strong>;</p><img src=\"https://fid-75186.picgzc.qpic.cn/20250902225915306v201f8jpo3pfqgx\"/><p>财报显示,美团在二季度的销售及营销开支为<strong>225亿元</strong>,比去年增幅达到<strong>51.8%</strong>。</p><p>人话说,就是美团在外卖大战补贴了大量资金后,导致利润严重下滑,成本增长远高于营收增长,</p><p>其实二季度外卖大战一直都在铺垫,只是现在姗姗来迟,终于反映在了股价之上,</p><p>之前是美团抢阿里的市值,现在蒋凡出击之后,成了阿里反夺美团市值了~</p><p>...........</p><p>有一说一,过去十几年里,这些互联网平台之间的抢钱大战一直没停过,</p><img src=\"https://mmbiz.qpic.cn/sz_mmbiz_png/Y5aYOCFibPvRsx5Sj4YZ8rpmVjN3zsq6WZCHkxxicYIR7hkAm1UMdWicouqViaRrrvTHqVwygYOlvSds9QCaH71xkw/640?wx_fmt=png&from=appmsg\"/><p>无论是网约车、共享单车,还是外卖,走的都是烧钱-熬死同行-赢家通吃的套路,</p><p>2014年第一次外卖大战的时候,美团就是靠着<a href=\"https://laohu8.com/S/00700\">腾讯</a>砸钱赢了阿里饿了么,获得了市场的“垄断地位”,</p><p>但过去市场没饱和,各位巨头还能稍微和平点,现在经济下行,想获得增长,就只能入侵其他巨头的基本盘。</p><p>其中美团是最悲催的,</p><p>在本地生活业务上被抖音痛打,抖音直接把团购植入到短视频,美团直接被降维打击。</p><p>买菜业务上被<strong>多多买菜狠击,</strong>针对美团优选的特定品类精准降价,并提供大量补贴,逼迫美团跟进抬高运营成本;最后美团开始收缩版图,推出小象超市。</p><p>外卖大战,阿里和<a href=\"https://laohu8.com/S/JD\">京东</a>靠外卖给电商业务引流,直接抢美团的主饭碗,在京东启发下,阿里把外卖入口合并到淘宝APP里,百亿投流的钱直接拿来做百亿补贴,结果消费者每天都会打开两三次,效果比直接买流量还好。</p><p>阿里、京东,<a href=\"https://laohu8.com/S/PDD\">拼多多</a>哪一家都不靠外卖吃饭,但都在砸钱抢美团的基本盘,本质还是为了那一口流量。</p><p>...........</p><p>所以护城河很重要,否则同质化到最后面临的就是无休止价格战,</p><p>腾讯和字节跳动都是S级先天圣体的玩家,腾讯护城河有微信,字节跳动的护城河有抖音,</p><p>所以这俩全程不参与补贴战,但依然能通过流量生态获得不错的利润,甚至孵化其他板块,</p><p>阿里虽也危险,但起码还是中国云计算里的领头羊,目前拓展AI方向,多线走路。</p><p>美团一心一意想把外卖做强,却也成了受伤最多的那个人。</p><img src=\"https://fid-75186.picgzc.qpic.cn/20250902225937169v201f4x8x2sme08\"/><p>从股价来看,过去五年真正意义上赚到钱的,除了后起之秀拼多多,也就护城河稳固的腾讯和闷声发大财的字节跳动,</p><p>而京东、阿里、美团跑腿三<a href=\"https://laohu8.com/S/002562\">兄弟</a>里,股价均为-50%水平,美团和京东股价最为惨烈,股东资金都被拿去补贴配送小哥和消费者了....</p><p>接下来“补贴大战”肯定还没结束,由于跑腿兄弟都各自占山为王,又都没有不得侵犯的护城河,未来京东、阿里、美团、拼多多这四家料定还会陷入无休止的内卷当中,</p><p>这也能看出,互联网行业也有鄙视链,一个好的商业模式对股价的影响,也是不言而喻的。</p></article></body></html>","source":"tencent","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" 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href=http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20250902225939a4affa6c&s=b><strong>思哲与创富</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>今年外卖大战打了这么久,阿里和美团的“战损表”终于发布了,结果是美团股价大跌13%,阿里大涨19%...这背后反映丐帮一个深刻现象,先来说下阿里吧,二季度收入同比增长2%,净利润同比增长76%(主要来自于出售土耳其电商公司)。其中“即时零售”业务收入2024年同期增长12%,主要得益于外卖大战中“淘宝闪购”带来的订单量,目前淘宝闪购在短短4个月内覆盖了全国300多个城市,月活跃买家达3亿;这里面...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20250902225939a4affa6c&s=b\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU0072913022.USD":"UBS (LUX) EQUITY FUND - GREATER CHINA \"P\" (USD) ACC","BK4220":"综合零售","BK4524":"宅经济概念","BK4554":"元宇宙及AR概念","BK4581":"高盛持仓","BK4543":"AI","LU0880133367.SGD":"UBS (LUX) EQUITY FUND CHINA OPPORTUNITY USD \"P\" (SGD) ACC","BK4526":"热门中概股","LU1105468828.SGD":"Allianz Total Return Asian Equity AM DIS 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