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與輝同行上線后，東方甄選主賬號直播間（直播數據，不含貨架銷售）GMV2-3月下降至2-3-行業數據

與輝同行上線后，東方甄選主賬號直播間（直播數據，不含貨架銷售）GMV2-3月下降至2-3
與輝同行上線后，東方甄選主賬號直播間（直播數據，不含貨架銷售）GMV2-3月下降至2-3
蟬媽媽數據顯示，與輝同行上線之后，主賬號直播口徑（不含貨架）月度GMV 下滑至 2-3 億元（日均 700-800 萬），我們認為或與公司發展矩陣賬號及自有 APP 分流部分流量、以及貨架銷售占比提升有關，目前直播間月度 GMV數據環比穩定在 2-3 億元的水平。
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與輝同行上線后，東方甄選主賬號直播間（直播數據，不含貨架銷售）GMV2-3月下降至2-3_第1頁
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與輝同行上線后，東方甄選主賬號直播間（直播數據，不含貨架銷售）GMV2-3月下降至2-3_第2頁
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與輝同行上線后，東方甄選主賬號直播間（直播數據，不含貨架銷售）GMV2-3月下降至2-3_第3頁
與輝同行上線后，東方甄選主賬號直播間（直播數據，不含貨架銷售）GMV2-3月下降至2-3_第4頁
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與輝同行上線后，東方甄選主賬號直播間（直播數據，不含貨架銷售）GMV2-3月下降至2-3_第5頁
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與輝同行上線后，東方甄選主賬號直播間（直播數據，不含貨架銷售）GMV2-3月下降至2-3_第6頁
與輝同行上線后，東方甄選主賬號直播間（直播數據，不含貨架銷售）GMV2-3月下降至2-3_第7頁
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與輝同行上線后，東方甄選主賬號直播間（直播數據，不含貨架銷售）GMV2-3月下降至2-3_第8頁
與輝同行上線后，東方甄選主賬號直播間（直播數據，不含貨架銷售）GMV2-3月下降至2-3_第9頁
與輝同行上線后，東方甄選主賬號直播間（直播數據，不含貨架銷售）GMV2-3月下降至2-3_第10頁
與輝同行上線后，東方甄選主賬號直播間（直播數據，不含貨架銷售）GMV2-3月下降至2-3_第11頁
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與輝同行上線后，東方甄選主賬號直播間（直播數據，不含貨架銷售）GMV2-3月下降至2-3_第12頁
與輝同行上線后，東方甄選主賬號直播間（直播數據，不含貨架銷售）GMV2-3月下降至2-3_第13頁
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與輝同行上線后，東方甄選主賬號直播間（直播數據，不含貨架銷售）GMV2-3月下降至2-3_第14頁
與輝同行上線后，東方甄選主賬號直播間（直播數據，不含貨架銷售）GMV2-3月下降至2-3_第15頁
與輝同行上線后，東方甄選主賬號直播間（直播數據，不含貨架銷售）GMV2-3月下降至2-3_第16頁
與輝同行上線后，東方甄選主賬號直播間（直播數據，不含貨架銷售）GMV2-3月下降至2-3_第17頁
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與輝同行上線后，東方甄選主賬號直播間（直播數據，不含貨架銷售）GMV2-3月下降至2-3_第18頁
與輝同行上線后，東方甄選主賬號直播間（直播數據，不含貨架銷售）GMV2-3月下降至2-3_第19頁
與輝同行上線后，東方甄選主賬號直播間（直播數據，不含貨架銷售）GMV2-3月下降至2-3_第20頁
與輝同行上線后，東方甄選主賬號直播間（直播數據，不含貨架銷售）GMV2-3月下降至2-3_第21頁
與輝同行上線后，東方甄選主賬號直播間（直播數據，不含貨架銷售）GMV2-3月下降至2-3_第22頁
與輝同行上線后，東方甄選主賬號直播間（直播數據，不含貨架銷售）GMV2-3月下降至2-3_第23頁
與輝同行上線后，東方甄選主賬號直播間（直播數據，不含貨架銷售）GMV2-3月下降至2-3_第24頁
與輝同行上線后，東方甄選主賬號直播間（直播數據，不含貨架銷售）GMV2-3月下降至2-3_第25頁
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與輝同行上線后，東方甄選主賬號直播間（直播數據，不含貨架銷售）GMV2-3月下降至2-3_第26頁
與輝同行上線后，東方甄選主賬號直播間（直播數據，不含貨架銷售）GMV2-3月下降至2-3_第27頁
與輝同行上線后，東方甄選主賬號直播間（直播數據，不含貨架銷售）GMV2-3月下降至2-3_第28頁
與輝同行上線后，東方甄選主賬號直播間（直播數據，不含貨架銷售）GMV2-3月下降至2-3_第29頁
與輝同行上線后，東方甄選主賬號直播間（直播數據，不含貨架銷售）GMV2-3月下降至2-3_第30頁
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與輝同行上線后，東方甄選主賬號直播間（直播數據，不含貨架銷售）GMV2-3月下降至2-3_第31頁
與輝同行上線后，東方甄選主賬號直播間（直播數據，不含貨架銷售）GMV2-3月下降至2-3_第32頁
與輝同行上線后，東方甄選主賬號直播間（直播數據，不含貨架銷售）GMV2-3月下降至2-3_第33頁
與輝同行上線后，東方甄選主賬號直播間（直播數據，不含貨架銷售）GMV2-3月下降至2-3_第34頁
與輝同行上線后，東方甄選主賬號直播間（直播數據，不含貨架銷售）GMV2-3月下降至2-3_第35頁
與輝同行上線后，東方甄選主賬號直播間（直播數據，不含貨架銷售）GMV2-3月下降至2-3_第36頁
與輝同行上線后，東方甄選主賬號直播間（直播數據，不含貨架銷售）GMV2-3月下降至2-3_第37頁
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與輝同行上線后，東方甄選主賬號直播間（直播數據，不含貨架銷售）GMV2-3月下降至2-3_第38頁
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與輝同行上線后，東方甄選主賬號直播間（直播數據，不含貨架銷售）GMV2-3月下降至2-3_第39頁
與輝同行上線后，東方甄選主賬號直播間（直播數據，不含貨架銷售）GMV2-3月下降至2-3_第40頁
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與輝同行上線后，東方甄選主賬號直播間（直播數據，不含貨架銷售）GMV2-3月下降至2-3_第41頁
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與輝同行上線后，東方甄選主賬號直播間（直播數據，不含貨架銷售）GMV2-3月下降至2-3_第42頁
與輝同行上線后，東方甄選主賬號直播間（直播數據，不含貨架銷售）GMV2-3月下降至2-3_第43頁
與輝同行上線后，東方甄選主賬號直播間（直播數據，不含貨架銷售）GMV2-3月下降至2-3_第44頁
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與輝同行上線后，東方甄選主賬號直播間（直播數據，不含貨架銷售）GMV2-3月下降至2-3_第45頁
與輝同行上線后，東方甄選主賬號直播間（直播數據，不含貨架銷售）GMV2-3月下降至2-3_第46頁
與輝同行上線后，東方甄選主賬號直播間（直播數據，不含貨架銷售）GMV2-3月下降至2-3_第47頁
與輝同行上線后，東方甄選主賬號直播間（直播數據，不含貨架銷售）GMV2-3月下降至2-3_第48頁
與輝同行上線后，東方甄選主賬號直播間（直播數據，不含貨架銷售）GMV2-3月下降至2-3_第49頁
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與輝同行上線后，東方甄選主賬號直播間（直播數據，不含貨架銷售）GMV2-3月下降至2-3_第50頁
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
與輝同行上線后，東方甄選主賬號直播間（直播數據，不含貨架銷售）GMV2-3月下降至2-3_第51頁
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
所屬報告： 東方甄選-港股公司研究報告-自營建設雖具長期增長潛力短期盈利不確定性仍存首予中性-240626（39頁）.pdf
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