Meituan 3690

[winston]

not vested

MEITUAN Upgrades 'Prosperity Programme', Spending Tens of Billions of RMB to Support F&B Merchants

MEITUAN-W (03690.HK) announced an upgrade to its "Prosperity Programme" (literal translation of "繁盛計劃") at a conference, spending tens of billions of RMB in funding to drive innovation in the food and beverage industry through dedicated support for consumer growth and digitisation.

New initiatives include a commission rebate of 6 to 12 months to food and beverage merchants, as well as shortening the operating period for group purchases.

MEITUAN also launched a digitalisation project to open up the "BETTER" customer base growth business model, AI site selection, business compass and other business products to all restaurant operators, as well as upgraded MEITUAN's restaurant data asset operation services, with a goal to help restaurant merchants improving their operational efficiency, enhancing their competitiveness in the market, and further stimulating potential consumer demand.

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/news/ ... -news/AAFN

[winston]

not vested

Meituan’s 63% stock surge faces risks in China consumer malaise

The firm last month posted 21 per cent sales growth.

The stock has surged 63 per cent this year.

Meituan’s secret weapon is its cheaper, group-based Pin Hao Fan platform for ordering meals.

Alibaba Group Holding is focusing on bolstering its core e-commerce business rather than its Ele.me food-delivery operation, while ByteDance’s Douyin is emphasising profitability over market share.

Pin Hao Fan is also attracting restaurants that are keen to advertise their cheaper products.

Driver recruiting costs have dropped amid elevated youth unemployment, while Meituan has also saved money by shuttering underperforming warehouses and lowering user subsidies.

On top of all this, a new US$1 billion stock buyback helped boost investor confidence.

Source: Bloomberg

https://www.businesstimes.com.sg/compan ... er-malaise

[winston]

not vested

<Research>CLSA Hikes MEITUAN-W (03690.HK) TP to $225; Earning Forecast Lifted

CLSA released a report, estimating that MEITUAN-W (03690.HK)'s 3Q24 total revenue will grow steadily by 20% YoY to RMB91.8 billion, and the adjusted EBIT will surge by 141% compared to the same period last year to RMB12 billion.

The broker expected Meituan's adjusted EBIT from its core business to rise 37% YoY to RMB13.8 billion in 3Q24, on the back of record food delivery margin and rebounding in-store margin.

Losses from new businesses are likely to narrow 65% YoY to RMB1.8 billion, and this trend is expected to carry on till 4Q24.

Related News: G Sachs Raises TPs for MEITUAN-W/ PDD to $212/ US$172

CLSA raised its net profit forecasts for Meituan by 2% and 3% for 2025 and 2026, respectively, and hiked its target price from HKD182 to HKD225, maintaining its Outperform rating.

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/analy ... stock-news

[winston]

vested

Chinese food delivery giant Meituan beats quarterly revenue estimates

22.4% rise in third-quarter revenue. Revenue in the three months to Sept. 30 at 93.58 billion yuan ($12.94 billion), up from 76.47 billion yuan in the same period a year earlier.

Its net profit for the quarter hit 12.86 billion yuan, increasing from a profit of 3.59 billion yuan a year earlier. Up 258%.

Source: Reuters

https://finance.yahoo.com/news/chinese- ... 24411.html

[winston]

vested

3Q24: Solid Earnings Beat; 4Q24 Outlook Intact

Despite Low Seasonality, Meituan delivered solid earnings beat in 3Q24.

Total revenue grew 22% yoy to Rmb93.6b, in line with our and street’s estimate.

Non-IFRS net profit was Rmb12.8b, with net profit margin expanding 6ppt yoy to 14%, above consensus estimate.

For 2025, we are optimistic on Meituan with various growth catalysts:
a) solid progress in overseas expansion,
b) gradual rollout of consumption stimulus, and
c) encouraging travel demand momentum.

Maintain BUY with a lower target price of HK$222.00.

Source: UOBKH

chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://39646150.fs1.hubspotusercontent-na1.net/hubfs/39646150/Research/Meituan%20(3690%20HK)%20241202.pdf?utm_medium=email&_hsenc=p2ANqtz-_eRpqYkfykaFxRWdxE39VG0w3snom_CMWYEntWRTYVb1vhLYj69qxdTNXivh9fpBobRKMQLsoRjAs9EGZJGaYjyjlUfQ&_hsmi=336489875&utm_content=336489875&utm_source=hs_email

[winston]

vested

Brokers│Views

Daiwa│In-store gross profit missed

HSBC Global Research│Company continued to drive quality growth

CLSA│Performance was stable

Nomura│Macro headwinds will dent business growth

CMSI│Results continued to beat with solid growth prospects

Goldman Sachs│Quarterly results were solid, with focus on merchant support measures and
Keeta investment

Citi│Innovation and operation synergies drive solid growth

Morgan Stanley│Buy-on-dip was suggested

JP Morgan│Profitability remained solid despite mediocre consumption environment

CICC│Quarterly profits continued to beat; loss reduction pace of new initiatives slackened

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/news/ ... -news/AAFN

[winston]

vested

MEITUAN-W Once Cascades 5% to Log 2+ Mths Low on Core Local Biz Structure Revamp

The stock once cascaded nearly 5% to a low of $157, logging an over-2-month low, and last cratered 4.42% to $157.9.

MEITUAN-W's core local business unit issued an internal email announcing a new round of organizational overhaul to better implement the "Retail + Technology" strategy and continuously enhance organizational capabilities, as reported by Chinese media earlier today.

Related News: JPM Hikes MEITUAN-W TP to $200; Profitability Still Strong despite Mediocre Consumption Environment

Of which, the original to-home R&D platform, to-store R&D platform, and Meituan platform technology department under the core local business, will be integrated and upgraded into the business R&D platform.

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/news/ ... -news/AAFN

[winston]

vested

Walmart China, MEITUAN-W Clinch Strategic Co-op

Walmart China and MEITUAN-W (03690.HK) announced a strategic cooperation, whereby both parties will leverage their respective advantages to collaborate in depth in areas such as instant delivery, product richness, product operations, digital customer capabilities and digital marketing, to jointly create new customer-centric omni-channel retail momentum.

Currently, Walmart stores nationwide have fully launched Meituan.

Zhu Jun, Chief Procurement Officer of Walmart, said that this cooperation is an effective supplement to Walmart's omni-channel layout and that customers will enjoy a more convenient shopping experience through multi-point shopping.

Xiao Kun, Vice President of Meituan and Head of Meituan Instashopping, said that both parties highly agree on the value creation for users and will continue to endeavor to deliver the best products and services to users.

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/news/ ... -news/AAFN

[winston]

vested

MEITUAN-W Slumps 5%+ after JD-SW Announces to Launch JD Takeaway

The news that JD-SW (09618.HK) announced the launch of JD Takeaway, dented MEITUAN-W (03690.HK) today (12th) to ebb back after opening 0.49% higher.

JD announced that JD Takeaway officially launched "quality dine-in catering merchants" recruitment, whereby merchants who are onboarded by May 2025 are commission-free for the entire year.

JD Takeaway's service fee is reportedly determined by the delivery distance, order price, time and weather and other factors.

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/news/ ... -news/AAFN

[winston]

vested

MEITUAN-W Negates Formulation of Yearly Big OP - 'Four All-ins'

The internal staff news of MEITUAN-W (03690.HK) disclosed that the company's big OP (Objective Plan) set at the beginning of this year is "Four All-ins", namely overseas market, sinking market, drone and AI, Sina Tech reported.

Among which, AI, as the hottest enterprise general ability, is valued by both CEOs of the group, Wang Xing and Wang Puchong.

In response to the above information, Meituan officially clarified that the content of the article, such as the "Four All-ins", has not been verified as any substantive evidence, and the information is not true.

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/news/ ... -news/AAFN