里昂：携程反垄断调查拖累同程股价未来3至6月或持续波动

观点新媒体01-15

观点网讯：1月15日，里昂发布研究报告称，因大股东携程遭内地反垄断调查，同程旅行股价14日下挫12%，预计调查未决前未来3至6个月股价仍将高波动。报告提到，携程持有同程约26%股权，双方共享酒店库存，若携程需在佣金或独家供应让步，同程亦受波及，但利润冲击有限，公司可借酒店管理等其他业务改善抵消部分压力。里昂维持“持有”评级及22港元目标价。免责声明：本文内容与数据由观点根据公开信息整理，不构成投资...

网页链接

免责声明：本文观点仅代表作者个人观点，不构成本平台的投资建议，本平台不对文章信息准确性、完整性和及时性做出任何保证，亦不对因使用或信赖文章信息引发的任何损失承担责任。

精彩评论

我们需要你的真知灼见来填补这片空白

发表看法

{"i18n":{"language":"zh_CN"},"isChannel":false,"data":{"share":"https://www.laohu8.com/m/news/2603560601?lang=zh_CN&edition=full","thumbnail":"","is_english":false,"pubTime":"2026-01-15 19:04","share_image_url":"https://static.laohu8.com/9a95c1376e76363c1401fee7d3717173","id":"2603560601","market":"hk","top_or_hot":-1,"title":"里昂：携程反垄断调查拖累同程股价 未来3至6月或持续波动","media":"观点新媒体","content":"<div>\n<p>观点网讯：1月15日，里昂发布研究报告称，因大股东携程遭内地反垄断调查，同程旅行股价14日下挫12%，预计调查未决前未来3至6个月股价仍将高波动。报告提到，携程持有同程约26%股权，双方共享酒店库存，若携程需在佣金或独家供应让步，同程亦受波及，但利润冲击有限，公司可借酒店管理等其他业务改善抵消部分压力。里昂维持“持有”评级及22港元目标价。免责声明：本文内容与数据由观点根据公开信息整理，不构成投资...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20260115190636a71e5b3e&s=b\">网页链接</a>\n\n</div>\n","source":"tencent","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>里昂：携程反垄断调查拖累同程股价 未来3至6月或持续波动</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n里昂：携程反垄断调查拖累同程股价 未来3至6月或持续波动\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-01-15 19:04 北京时间&nbsp;&nbsp;&nbsp;<a href=http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20260115190636a71e5b3e&s=b><strong>观点新媒体</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>观点网讯：1月15日，里昂发布研究报告称，因大股东携程遭内地反垄断调查，同程旅行股价14日下挫12%，预计调查未决前未来3至6个月股价仍将高波动。报告提到，携程持有同程约26%股权，双方共享酒店库存，若携程需在佣金或独家供应让步，同程亦受波及，但利润冲击有限，公司可借酒店管理等其他业务改善抵消部分压力。里昂维持“持有”评级及22港元目标价。免责声明：本文内容与数据由观点根据公开信息整理，不构成投资...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20260115190636a71e5b3e&s=b\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IE00B8L5B284.USD","symbol_name":"BNY MELLON GLOBAL EMERGING MARKETS OPPORTUNITIES \"B\" (USD) INC","start_time":0,"source_url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20260115190636a71e5b3e&s=b","article_id":"2603560601","we_media_id":null,"thumbnails":[],"rights":{"source":"tencent","url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20260115190636a71e5b3e&s=b","rn_cache_url":null,"customStyle":"body{padding-top:10px;}#news_title{font-weight:bold;#titleStyle#;}#news_description span{font-size:12px;#descriptionStyle#;}.footer-note{#statement#}","selectors":".mod-LoadTzbdNews, body","filters":".relate-stock, .hot-list, .recom-box, .wx-sou","directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2603560601","pubTimestamp":1768475053,"columns":[],"sourceInfo":{"source_id":"tencent","name":"腾讯"},"weMediaInfo":null,"summary":"观点网讯：1月15日，里昂发布研究报告称，因大股东携程遭内地反垄断调查，同程旅行股价14日下挫12%，预计调查未决前未来3至6个月股价仍将高波动。报告提到，携程持有同程约26%股权，双方共享酒店库存，若携程需在佣金或独家供应让步，同程亦受波及，但利润冲击有限，公司可借酒店管理等其他业务改善抵消部分压力。里昂维持“持有”评级及22港元目标价。免责声明：本文内容与数据由观点根据公开信息整理，不构成投资建议，使用前请核实。","collect":0,"end_time":0,"defaultTopTitle":"qq.com","property":[],"viewcount":null,"language":"zh","relate_stocks":{"IE00B8L5B284.USD":"BNY MELLON GLOBAL EMERGING MARKETS OPPORTUNITIES \"B\" (USD) INC","LU2449936058.SGD":"SUSTAINABLE ASIA EQUITY \"AA\" (SGD) ACC","SG9999002463.SGD":"LionGlobal China Growth SGD","LU0516422952.EUR":"FULLERTON LUX FUNDS - ASIA FOCUS EQUITIES \"I\" (EUR) ACC","HK0000306701.USD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (USD) INC","LU0828237940.HKD":"SCHRODER ISF EMERGING ASIA \"A\" (HKD) ACC","LU0261950470.USD":"FIDELITY EMERGING MARKETS \"A\" ACC","LU0516422440.USD":"FULLERTON LUX FUNDS - ASIA FOCUS EQUITIES \"A\" (USD) ACC","LU0509642566.USD":"SCHRODER ISF GLOBAL EMERGING MARKET OPPORTUNITIES \"A\" (USD) INC AV","LU2476274720.SGD":"ALLIANZ CHINA FUTURE TECHNOLOGIES \"AT\" (SGDHDG) ACC","LU0287142896.SGD":"Fidelity China Focus A-SGD","BK1164":"酒店、度假村与豪华游轮","LU1282649067.USD":"ALLIANZ ASIAN MULTI INCOME PLUS \"AMG\" (USD) INC A","LU0039217434.USD":"HSBC GIF CHINESE EQUITY \"AD\" INC","LU3063872942.SGD":"FULLERTON LUX FUNDS ASIA EQUITIES \"I\" (SGD) ACC","LU1328277881.USD":"MANULIFE GF DRAGON GROWTH FUND \"AA\" (USD) INC","LU0502904849.HKD":"FIDELITY FUNDS  CHINA INNOVATION \"A\" (HKD) ACC","LU0634319403.HKD":"ALLIANZ HONG KONG EQUITY \"AT\" (HKD) ACC","LU2778985437.USD":"ALLIANZ CHINA FUTURE TECHNOLOGIES \"A\" (USD) INC","LU0320764599.SGD":"FTIF - Templeton China A Acc SGD","LU0384037296.USD":"ALLIANZ ASIAN MULTI INCOME PLUS \"AT\" (USD) ACC","LU1880383440.USD":"AMUNDI FUNDS CHINA EQUITY \"A2\" (USD) INC","LU0431992006.USD":"摩根大通新兴市场机会A（acc）","IE0008369823.USD":"FSSA HONG KONG GROWTH \"I\" ACC","BK1588":"回港中概股","IE0008368742.USD":"首域中国增长基金I Acc","LU2106854487.HKD":"ALLIANZ THEMATICA \"AMG\" (HKD) INC","LU0650527681.SGD":"Fidelity China Consumer A-SGD","LU0871576103.HKD":"HSBC GIF CHINESE EQUITY \"AC\" (HKD) ACC","LU0048580855.USD":"富达大中华区A","BK1615":"港股-互联网","LU0823397103.USD":"BNP PARIBAS SUSTAINABLE ASIA EX-JAPAN EQUITY \"C\" (USD) ACC","IE0003795394.USD":"BNY MELLON ASIAN EQUITY \"A\" (USD) ACC","IE00B031HY20.USD":"FSSA CHINA GROWTH \"I\" (USD) INC","LU0737861772.HKD":"FIDELITY EMERGING ASIA \"A \" (HKD) ACC","LU1303224171.USD":"NINETY ONE GSF ALL CHINA EQUITY \"A\" (USD) INC","00780":"同程旅行","LU0307460666.USD":"EASTSPRING INVESTMENTS CHINA EQUITY \"A\" ACC","LU1808992512.USD":"AB ALL CHINA EQUITY PORTFOLIO \"A\" (USD) ACC","HK0000320223.HKD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (HKD) ACC","LU0269904917.USD":"SCHRODER ISF GLOBAL EMERGING MARKET OPPORTUNITIES \"A\" (USD) ACC","BK1587":"次新股","LU0516423174.USD":"FULLERTON LUX FUNDS - ASIA FOCUS EQUITIES \"I\" (USD) ACC","LU0594300419.USD":"富达中国消费基金A","SG9999011746.SGD":"PINEBRIDGE INTERNATIONAL FUNDS - ACORNS OF ASIA BA (SGD) ACC","SG9999000418.SGD":"Aberdeen Standard Global Technology SGD","LU0052750758.USD":"富兰克林中国基金A Acc","09961":"携程集团—S","LU0531971595.HKD":"HSBC GIF CHINESE EQUITY \"AD\" (HKD) INC","LU0488056044.USD":"Allianz Asian Multi Income Plus Cl AM DIS USD","HK0000320264.USD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (USD) ACC"},"translate_title":"Lyon: Ctrip's antitrust investigation drags down Tongcheng's stock price and may continue to fluctuate in the next 3 to 6","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"00780":0.9,"09961":1.5},"content_text":"观点网讯：1月15日，里昂发布研究报告称，因大股东携程遭内地反垄断调查，同程旅行股价14日下挫12%，预计调查未决前未来3至6个月股价仍将高波动。报告提到，携程持有同程约26%股权，双方共享酒店库存，若携程需在佣金或独家供应让步，同程亦受波及，但利润冲击有限，公司可借酒店管理等其他业务改善抵消部分压力。里昂维持“持有”评级及22港元目标价。免责声明：本文内容与数据由观点根据公开信息整理，不构成投资建议，使用前请核实。","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"tenantId":"TBCN","deviceId":"web-server-community-laohu8-v3","version":"4.36.2","shortVersion":"4.36.2","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2603560601","isCrawlerRequest":true}

里昂：携程反垄断调查拖累同程股价 未来3至6月或持续波动

精彩评论

里昂：携程反垄断调查拖累同程股价未来3至6月或持续波动