Meituan 3690

Re: Meituan Dianping 3690

Postby winston » Thu Nov 12, 2020 1:55 pm

G Sachs Adds MEITUAN-W (03690.HK) TP to $349 amid Online Grocery Mkt Expansion

Goldman Sachs in its report expected China’s online grocery to account for nearly half of the nationwide grocery sales by 2025, with the online grocery market size growing to RMB7 trillion from below RMB2 trillion in 2019.

The broker kept Buy on MEITUAN-W (03690.HK), who may go on harnessing its leading position and power in Chinese local services market, at the target price $349, added from $256.

Source: AAStocks Financial News
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Re: Meituan Dianping 3690

Postby winston » Fri Nov 13, 2020 3:31 pm

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Meituan Dianping (OTC: MPNGY): Meituan is an online services platform offering food delivery, ticketing, and other services.

The company gained market share by capturing a higher portion of exclusive restaurants on its platform.

“We note the potential implementation of new antitrust regulations could also weigh on Meituan’s take rate charged to merchants,” analysts wrote.

Source: Benzinga
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Re: Meituan 3690

Postby winston » Mon Nov 16, 2020 10:48 am

*JPM: HSI Constituents Change; Expects US$1.64B Passive Funds Inflow to MEITUAN-W
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Re: Meituan 3690

Postby winston » Fri Nov 20, 2020 9:29 am

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<Research Report>Ratings & TPs on MEITUAN-W (03690.HK) (Table)

Ahead of MEITUAN-W (03690.HK)'s 3Q20 results release slated for late-November, brokers assumed net profit in a range of -RMB176 million to +RMB426 million, as compared with +RMB1.333 billion a year ago.

Brokers│Investment Ratings│TPs ($)
HSBC Global Research│Buy│386
DBS│Buy│380
Goldman Sachs│Buy│349
BofA Securities│Buy│336
Credit Suisse│Outperform│310
Haitong International│Outperform│300
UBS│Buy│300
Daiwa│Buy│300
Nomura│Buy│300
Citigroup│Buy│300
Jefferies│Buy│300
Morgan Stanley│Overweight│280
JPMorgan│Neutral│235

Source: AAStocks Financial News
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Re: Meituan 3690

Postby winston » Wed Nov 25, 2020 3:42 pm

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<Result Foresight>Brokers See MEITUAN-W (03690.HK) 3Q Rev +25%; Focus on New Biz, Antitrust Guidance (Update)

MEITUAN-W (03690.HK) will unveil 3Q20 results next Monday (30 November).

The market expected an expanding new business loss for the firm.

According to brokers' forecast as compiled by our reporters, Meituan's 3Q20 revenue may range RMB33.086-34.8 billion, up 20.3%-26.5% yearly. The median forecast is RMB34.457 billion, up 25.3% annually.

Investors were eyeing Meituan's food delivery unit after Chinese watchdog had unveiled an antitrust guidance for platform economy.

--------------------------------

Brokers│3Q20E Revenue (RMB)│YoY Change

Credit Suisse│34.8B│+26.5%
BOCOMI│34.726B│+26.3%
Goldman Sachs│34.674B│+26.1%
UBS│34.671B│+26.1%
Citigroup│34.54B│+25.6%
CCBI│34.483B│+25.4%
Daiwa│34.474B│+25.4%
Guosen Securities│34.44B│+25.3%
CITIC Securities│34.43B│+25.2%
ICBCI│34.265B│+24.6%
Morgan Stanley│34.214B│+24.4%
Nomura│33.787B│+22.9%
Haitong Int'l│33.267B│+21%
BOCI│33.086B│+20.3%

Based on 3Q19 revenue of RMB27.493 billion

Source: AAStocks Financial News
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Re: Meituan 3690

Postby winston » Mon Nov 30, 2020 9:57 pm

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Meituan’s sales surge alongside China’s appetite for takeout

by Coco Liu

Meituan reported a 29% rise in quarterly revenue.

It also logged net income of 6.3 billion yuan, versus a projected 435 million yuan.

Profit was bolstered by 5.8 billion yuan in investment gains.

Meituan controls an estimated two-thirds of China’s food delivery market.

Meituan had expanded into a wide array of services including online travel, grocery delivery and ride-hailing. In the longer run, Meituan is investing in technologies like self-driving vehicles to help cope with surging delivery demands.


Source: Bloomberg

https://www.theedgemarkets.com/article/ ... te-takeout
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Re: Meituan 3690

Postby winston » Tue Dec 01, 2020 7:38 am

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Meituan net soars 374pc to 6.3b yuan in quarter

Meituan said revenue rose 28.8 percent in July-September versus the same period a year prior to 35.40 billion yuan. That compared with the 33.88 billion yuan average of 15 analyst estimates,.

Food delivery, which accounts for over half of Meituan's total revenue, posted revenue growth of 32.8 percent to 20.69 billion yuan.

Its in-store, hotel and travel sector saw its first revenue growth since the pandemic - a rise of 4.8 percent to 6.48 billion yuan.

The number of transacting users was up 9.4 percent to 476.5 million.

The number of active merchants rose 9.5 percent to 6.5 million.

Beijing-based Meituan has been expanding into new areas, such as fresh food - a sector boosted by pandemic lockdown measures.

In July, it launched group-buying business Youxuan to explore fresh food opportunities in China's small cities. Meituan has pledged to grab a slice of this booming market, with a goal to introduce the service to 1,000 cities by year-end.

Source: The Standard

https://www.thestandard.com.hk/section- ... in-quarter
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Re: Meituan 3690

Postby winston » Tue Dec 01, 2020 9:05 am

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Meituan Dianping Class B (3690 HK)

3Q20: Solid Beat Results; Focus On Investments On Groceries Ahead

MTDP delivered a strong set of 3Q20 results.

Total revenue grew by 28.8% yoy to Rmb35.4b, 4% ahead of consensus estimates.

Adjusted operating profit (excluding fair value gain from listed entities of Rmb5.8b) was Rmb1.5b, beating street estimate of Rmb413m.

Non-GAAP net profit was Rmb2.1b, up 5.8% yoy.

Management guided that it will be investing more to further expand food delivery infrastructure as well as fresh groceries shopping moving forward.

We maintain BUY with higher target price of HK$343.00.

Source: UOBKH

https://research.uobkayhian.com/content ... 9ab074d78b
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Re: Meituan 3690

Postby winston » Wed Dec 02, 2020 8:48 am

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Full recovery in all segments

Meituan reported 3Q20 revenue of Rmb35.4bn, up 28.8% yoy, and adjusted net profit of Rmb2.05bn, up 5.8% yoy, above our expectations because of better revenue recovery from the pandemic and stronger operating margins.

Meituan recorded strong growth of 30.1% yoy in food delivery order volume in 3Q20, with the average order value increasing by 4.5% yoy.

The number of domestic hotel room nights recovered to the pre-pandemic level, achieving 3.7% yoy growth.

We expect full-year revenue growth for the ‘new initiatives and others’ segment to be 32.2% yoy, given the strong growth momentum in its grocery retail business.

Reiterate Add with a DCF-based TP of HK$338.

Source: CIMB

https://rfs.cgs-cimb.com/api/download?f ... 0920F41315
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Re: Meituan 3690

Postby winston » Fri Dec 04, 2020 1:36 pm

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Jefferies Cites MEITUAN-W: Takeaway Biz Efficiency Higher; In-store Biz Revival Strong

MEITUAN-W (03690.HK)'s management mentioned an ongoing improvement in the unit economics on scale and ROI of food delivery business, cited by Jefferies.

Equally, the firm saw robust in-store business revival, with hotel volume returning to a positive YoY growth.

The stock was restated at Buy, with a $360 target.

Source: AAStocks Financial News
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