vested
<Research>Citi Believes Restaurant Merchants to Still Rely on MEITUAN Platform, View JD Platform as Source of Extra Transactions/ GMV
JD-SW (09618.HK) 's decision to enter the food delivery business is believed to be due to its plan to privatize Dada Nexus (DADA.US) and to better utilize Dada Now's resources & capacity to improve operational efficiency and enhance Dada's revenue opportunities;
High frequency food delivery business could complement JD-SW's demand for its FMCG sector; to defend and fight back on-demand retail market share, where MEITUAN-W (03690.HK) has been aggressively penetrating into, Citi Research issued a research report saying.
Considering JD-SW's past performance, Citi Research believed that management will remain prudent in terms of subsidies.
While this may put some pressure on MEITUAN-W's takeaway revenue and unit economic benefit in the near term, the broker believed that restaurant merchants will continue to rely on MEITUAN-W's platform and view JD-SW's platform as an extra source of transactions or GMV, given the order volume and the transaction conversion rate.
Therefore, the broker rated JD.com (JD.US) at Buy, with a target price of US$51.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/news/ ... -news/AAFN
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Meituan 3690
Re: Meituan 3690
by winston » Wed Feb 12, 2025 4:55 pm
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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winston - Billionaire Boss
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Re: Meituan 3690
by winston » Mon Mar 03, 2025 1:51 pm
vested
<Research>UBS Predicts MEITUAN-W 2025 Food Delivery, UE to Grow Sturdily
UBS conducted a survey with an expert from a third-party local services agency, who indicated that MEITUAN-W (03690.HK)’s food delivery order growth in 4Q is forecast to stabilize at a YoY rise of 10%, though QoQ growth will decelerate.
Looking ahead to 2025, the expert projected order growth to hold steady at 10%, driven primarily by the integration of “to-home” and “in-store” services into the ShenHuiYuan membership program since July 2024.
By December, membership had grown to approximately 120 million people (up 20% QoQ), accounting for 24% of monthly active users (MAUs) per QuestMobile data.
Members exhibit a 25% higher purchase frequency than non-members on average, and the expert anticipates that rising membership penetration will bolster average revenue per user (ARPU) going forward.
Beyond initiatives like PinHaoFan for price-sensitive consumers and brand satellite stores for quality-focused demand, Meituan launched “Raccoon Canteen” in January.
This model consolidates stalls from chain restaurants into a single location, allowing consumers to order from multiple merchants in one go to save on delivery fees.
It also enhances operational efficiency and unit economics (UE), as riders can deliver multiple orders from a centralized hub.
UBS believes Meituan’s 4Q UE could excel market expectations (consensus at RMB1.2), as evidenced by Alibaba’s on track loss narrowing in local services.
Following significant UE improvement in 2024, the expert expected stability in 2025 given increased merchant support and expanded rider social insurance coverage.
Trading at 18x 2025E PE amid high expectations, the broker believed Meituan share price may see consolidation into result with better clarity on growth outlook, impact from rider social insurance, as well as its overseas expansion scale.
In the near term, amid a challenging macro environment, UBS expected Meituan to prioritize ecosystem investments and merchant support.
Over the long term, the broker stayed optimistic about Meituan’s moat in the under-penetrated local services sector and its robust monetization potential, maintaining a Buy rating with a target price of HKD270 on the stock.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/news/ ... -news/AAFN
<Research>UBS Predicts MEITUAN-W 2025 Food Delivery, UE to Grow Sturdily
UBS conducted a survey with an expert from a third-party local services agency, who indicated that MEITUAN-W (03690.HK)’s food delivery order growth in 4Q is forecast to stabilize at a YoY rise of 10%, though QoQ growth will decelerate.
Looking ahead to 2025, the expert projected order growth to hold steady at 10%, driven primarily by the integration of “to-home” and “in-store” services into the ShenHuiYuan membership program since July 2024.
By December, membership had grown to approximately 120 million people (up 20% QoQ), accounting for 24% of monthly active users (MAUs) per QuestMobile data.
Members exhibit a 25% higher purchase frequency than non-members on average, and the expert anticipates that rising membership penetration will bolster average revenue per user (ARPU) going forward.
Beyond initiatives like PinHaoFan for price-sensitive consumers and brand satellite stores for quality-focused demand, Meituan launched “Raccoon Canteen” in January.
This model consolidates stalls from chain restaurants into a single location, allowing consumers to order from multiple merchants in one go to save on delivery fees.
It also enhances operational efficiency and unit economics (UE), as riders can deliver multiple orders from a centralized hub.
UBS believes Meituan’s 4Q UE could excel market expectations (consensus at RMB1.2), as evidenced by Alibaba’s on track loss narrowing in local services.
Following significant UE improvement in 2024, the expert expected stability in 2025 given increased merchant support and expanded rider social insurance coverage.
Trading at 18x 2025E PE amid high expectations, the broker believed Meituan share price may see consolidation into result with better clarity on growth outlook, impact from rider social insurance, as well as its overseas expansion scale.
In the near term, amid a challenging macro environment, UBS expected Meituan to prioritize ecosystem investments and merchant support.
Over the long term, the broker stayed optimistic about Meituan’s moat in the under-penetrated local services sector and its robust monetization potential, maintaining a Buy rating with a target price of HKD270 on the stock.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/news/ ... -news/AAFN
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Re: Meituan 3690
by winston » Sat Mar 22, 2025 8:22 am
not vested
Meituan's profit surges 158pc to 35.8 billion yuan
Meituan (3690) said its 2024 net profit surged 1.58 times to 35.8 billion yuan (HK$38.4 billion) compared to the previous year, owing to robust contributions from the fourth quarter.
No dividend was declared.
Adjusted net profit climbed 88 percent year-on-year to 43.8 billion yuan.
Its revenue amounted to 337.6 billion yuan, up 22 percent from the previous year.
Specifically, delivery service turnover recorded over 98 billion yuan, marking a 19.3 percent growth yearly.
Total segment operating profit jumped by 143.6 percent to 45.1 billion in 2024, and the operating margin rose from 6.7 percent to 13.4 percent.
In the fourth quarter, revenue amounted to 88.5 billion yuan -- up 20.1 percent compared to the same period in 2023 -- beating the expectations of 87.7 billion yuan.
Net profit in the period surged by over 1.8 times to 6.2 billion yuan, compared to the same period in the previous year.
Source: The Standard
https://www.thestandard.com.hk/breaking ... llion-yuan
Meituan's profit surges 158pc to 35.8 billion yuan
Meituan (3690) said its 2024 net profit surged 1.58 times to 35.8 billion yuan (HK$38.4 billion) compared to the previous year, owing to robust contributions from the fourth quarter.
No dividend was declared.
Adjusted net profit climbed 88 percent year-on-year to 43.8 billion yuan.
Its revenue amounted to 337.6 billion yuan, up 22 percent from the previous year.
Specifically, delivery service turnover recorded over 98 billion yuan, marking a 19.3 percent growth yearly.
Total segment operating profit jumped by 143.6 percent to 45.1 billion in 2024, and the operating margin rose from 6.7 percent to 13.4 percent.
In the fourth quarter, revenue amounted to 88.5 billion yuan -- up 20.1 percent compared to the same period in 2023 -- beating the expectations of 87.7 billion yuan.
Net profit in the period surged by over 1.8 times to 6.2 billion yuan, compared to the same period in the previous year.
Source: The Standard
https://www.thestandard.com.hk/breaking ... llion-yuan
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Re: Meituan 3690
by winston » Mon Mar 24, 2025 7:20 am
not vested
<Results>MEITUAN-W 4Q24 Adj. Profit Up 125% YoY to RMB9.85B Slightly Beats
Profit for the fourth quarter ended December 2024 amounted to RMB6.222 billion, up 180% YoY and down 51.6% QoQ, according to MEITUAN-W (03690.HK) 's announcement.
Non-IFRS 4Q24 adjusted net profit amounted to RMB9.849 billion, up 125.1% YoY, slightly beating the 6 brokers' forecasts ranging from RMB8.725 billion to RMB9.801 billion.
Adjusted EBITDA reached RMB11.523 billion, up 207.7% YoY.
Related News - Citi: US Investors Show Significant Interest in CN Stocks; Long-funds More Active Than Hedge Funds
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/news/ ... -news/AAFN
<Results>MEITUAN-W 4Q24 Adj. Profit Up 125% YoY to RMB9.85B Slightly Beats
Profit for the fourth quarter ended December 2024 amounted to RMB6.222 billion, up 180% YoY and down 51.6% QoQ, according to MEITUAN-W (03690.HK) 's announcement.
Non-IFRS 4Q24 adjusted net profit amounted to RMB9.849 billion, up 125.1% YoY, slightly beating the 6 brokers' forecasts ranging from RMB8.725 billion to RMB9.801 billion.
Adjusted EBITDA reached RMB11.523 billion, up 207.7% YoY.
Related News - Citi: US Investors Show Significant Interest in CN Stocks; Long-funds More Active Than Hedge Funds
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/news/ ... -news/AAFN
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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winston - Billionaire Boss
- Posts: 111922
- Joined: Wed May 07, 2008 9:28 am
Re: Meituan 3690
by winston » Mon Mar 24, 2025 9:21 am
not vested
Meituan (3690 HK) 4Q24: Results In Line; Stable 2025 Margin On Competition And Overseas Expansion
Meituan’s 4Q24 results were in line with expectations.
Total revenue grew 20% yoy to Rmb88.5b, in line with our and consensus estimates.
Non-IFRS net profit was Rmb6.2b, with net margin expanding 5ppt yoy to 11%, in line with consensus forecasts.
For 2025, we are cautiously optimistic on Meituan in view of solid progress in overseas expansion and AI development, offset by margin pressures due to the intensely competitive landscape.
Maintain BUY with a lower target price of HK$216.00.
Source: UOBKH
https://research.uobkayhian.com/content ... e=hs_email
Meituan (3690 HK) 4Q24: Results In Line; Stable 2025 Margin On Competition And Overseas Expansion
Meituan’s 4Q24 results were in line with expectations.
Total revenue grew 20% yoy to Rmb88.5b, in line with our and consensus estimates.
Non-IFRS net profit was Rmb6.2b, with net margin expanding 5ppt yoy to 11%, in line with consensus forecasts.
For 2025, we are cautiously optimistic on Meituan in view of solid progress in overseas expansion and AI development, offset by margin pressures due to the intensely competitive landscape.
Maintain BUY with a lower target price of HK$216.00.
Source: UOBKH
https://research.uobkayhian.com/content ... e=hs_email
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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winston - Billionaire Boss
- Posts: 111922
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Re: Meituan 3690
by winston » Mon Mar 24, 2025 10:29 am
vested
MEITUAN-W Shrinks 5% in Early Session as CLSA Cites Slower Growth in Food Delivery Orders in 4Q24
MEITUAN-W's 4Q24 results beat estimations, but the growth of food delivery orders slowed, CLSA said.
The loss of new business grew 1x QoQ due to global expansion. Therefore, the broker lowered its 2025/ 2026 adjusted net profit forecasts by 2%, and kept rating/ target price at Outperform/ $217.
Related News - CLSA: MEITUAN-W (03690.HK) Core Local Commerce Segment Remains Solid; Rating Outperform Kept
The Group announced its annual results for the year ended December 2024 after the market closed on last Friday (21st).
Profit attributable to equity holders surged by 158.4% YoY to RMB35.807 billion, with basic EPS standing at RMB5.85.
No dividend has been declared.
Under non-IFRS measures, adjusted net profit for the year increased by 88.2% YoY to RMB43.772 billion.
Compared with the combined forecast of RMB42.11-45.018 billion from 13 brokers as summarized by our reporters, it aligned with market expectations, close to the median forecast of RMB43.77 billion. In addition, the adjusted EBITDA was RMB49.119 billion, up 105.7% YoY.
MEITUAN-W's annual revenue leaped by 22% YoY to RMB337.592 billion, slightly exceeding the upper limit of the combined forecast of RMB336.385-337.518 billion from 14 brokers as summarized by our reporters.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/news/ ... -news/AAFN
MEITUAN-W Shrinks 5% in Early Session as CLSA Cites Slower Growth in Food Delivery Orders in 4Q24
MEITUAN-W's 4Q24 results beat estimations, but the growth of food delivery orders slowed, CLSA said.
The loss of new business grew 1x QoQ due to global expansion. Therefore, the broker lowered its 2025/ 2026 adjusted net profit forecasts by 2%, and kept rating/ target price at Outperform/ $217.
Related News - CLSA: MEITUAN-W (03690.HK) Core Local Commerce Segment Remains Solid; Rating Outperform Kept
The Group announced its annual results for the year ended December 2024 after the market closed on last Friday (21st).
Profit attributable to equity holders surged by 158.4% YoY to RMB35.807 billion, with basic EPS standing at RMB5.85.
No dividend has been declared.
Under non-IFRS measures, adjusted net profit for the year increased by 88.2% YoY to RMB43.772 billion.
Compared with the combined forecast of RMB42.11-45.018 billion from 13 brokers as summarized by our reporters, it aligned with market expectations, close to the median forecast of RMB43.77 billion. In addition, the adjusted EBITDA was RMB49.119 billion, up 105.7% YoY.
MEITUAN-W's annual revenue leaped by 22% YoY to RMB337.592 billion, slightly exceeding the upper limit of the combined forecast of RMB336.385-337.518 billion from 14 brokers as summarized by our reporters.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/news/ ... -news/AAFN
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winston - Billionaire Boss
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Re: Meituan 3690
by winston » Mon Mar 24, 2025 1:13 pm
vested
<Research>Nomura Trims MEITUAN-W TP to $200 Amid Increased Investment in Overseas Mkt & AI
Nomura released a research report on MEITUAN-W (03690.HK), which maintained robust performance in its core business in 4Q24, with revenue up 20% YoY and non-GAAP operating profit up 2.4 times, beating market expectations by 1% and 13%, respectively.
The group’s new businesses, including grocery and overseas expansion, saw revenue leap 24% YoY, while losses narrowed by 55% to RMB2.2 billion.
Amid increased investment in overseas markets and AI, Nomura dropped its target price on MEITUAN-W from HKD212 to HKD200, with a Buy rating.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/news/ ... -news/AAFN
<Research>Nomura Trims MEITUAN-W TP to $200 Amid Increased Investment in Overseas Mkt & AI
Nomura released a research report on MEITUAN-W (03690.HK), which maintained robust performance in its core business in 4Q24, with revenue up 20% YoY and non-GAAP operating profit up 2.4 times, beating market expectations by 1% and 13%, respectively.
The group’s new businesses, including grocery and overseas expansion, saw revenue leap 24% YoY, while losses narrowed by 55% to RMB2.2 billion.
Amid increased investment in overseas markets and AI, Nomura dropped its target price on MEITUAN-W from HKD212 to HKD200, with a Buy rating.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/news/ ... -news/AAFN
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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winston - Billionaire Boss
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Re: Meituan 3690
by winston » Mon Mar 24, 2025 4:20 pm
not vested
<Research>UBS Revises 2025 Profit Forecast for MEITUAN-W (03690.HK), Chops TP to $232
MEITUAN-W (03690.HK)'s 4Q24 revenue rose 20% YoY, slightly beating estimation, while its adjusted operating profit was 13% higher than expected, supported by solid core local commerce margin, UBS said.
However, its adjusted net profit was only in line with forecast, impacted by higher interest and tax expenses.
UBS adjusted its 2025 adjusted net profit forecast for MEITUAN-W to RMB46.5 billion, compared with the market consensus of RMB55 billion.
The broker chopped its target price from $270 to $232, with rating kept at Buy.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/news/ ... -news/AAFN
<Research>UBS Revises 2025 Profit Forecast for MEITUAN-W (03690.HK), Chops TP to $232
MEITUAN-W (03690.HK)'s 4Q24 revenue rose 20% YoY, slightly beating estimation, while its adjusted operating profit was 13% higher than expected, supported by solid core local commerce margin, UBS said.
However, its adjusted net profit was only in line with forecast, impacted by higher interest and tax expenses.
UBS adjusted its 2025 adjusted net profit forecast for MEITUAN-W to RMB46.5 billion, compared with the market consensus of RMB55 billion.
The broker chopped its target price from $270 to $232, with rating kept at Buy.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/news/ ... -news/AAFN
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winston - Billionaire Boss
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Re: Meituan 3690
by winston » Tue Mar 25, 2025 12:03 pm
vested
Earnings Alert: 4Q24 results in line, Keeta Saudi loss guidance raised on faster-than-expected expansion
FY24 adjusted net profit surged by 125% y/y, in line with consensus
Keeta Saudi expansion is outpacing expectations, with daily order volume surpassing Hong Kong after 6 months of launch
Lowered adj. earnings by 9%/5% in FY25/26F, to reflect higher loss in Keeta Saudi expansion; Expect Keeta Saudi will reach an operating profit margin of 3-4% (from GTV level) in long term
Meituan is trading at 17x FY25F PE, on adj. earnings CAGR of 26% from FY24-26F; Maintain BUY with revised TP of 206
Source: DBS
https://www.dbs.com/insightsdirect/comp ... ecid=24386
Earnings Alert: 4Q24 results in line, Keeta Saudi loss guidance raised on faster-than-expected expansion
FY24 adjusted net profit surged by 125% y/y, in line with consensus
Keeta Saudi expansion is outpacing expectations, with daily order volume surpassing Hong Kong after 6 months of launch
Lowered adj. earnings by 9%/5% in FY25/26F, to reflect higher loss in Keeta Saudi expansion; Expect Keeta Saudi will reach an operating profit margin of 3-4% (from GTV level) in long term
Meituan is trading at 17x FY25F PE, on adj. earnings CAGR of 26% from FY24-26F; Maintain BUY with revised TP of 206
Source: DBS
https://www.dbs.com/insightsdirect/comp ... ecid=24386
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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winston - Billionaire Boss
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Re: Meituan 3690
by winston » Tue Apr 15, 2025 9:27 am
nbot vested
Meituan Takeaway to Subsidize Catering Industry with RMB100B Over 3 Yrs
Xue Bing, the general manager of Meituan's takeaway division, announced at the "2025 China Catering Chain Summit" that the company will provide more subsidies to help merchants reduce costs and boost income, Chinese media reported.
Over the next three years, Meituan will invest RMB100 billion to support the healthy growth of catering partners, marking the largest industry support subsidy plan in the history of the catering sector.
Xue also revealed that the RMB100 billion will focus on four key areas:
1. Helping merchants to subsidize consumers to stimulate demand,
2. Providing assistance funds to increase merchants' income, supporting and rewarding high-quality merchants
3. Promoting initiatives and
4. strengthening industry infrastructure.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/news/ ... -news/AAFN
Meituan Takeaway to Subsidize Catering Industry with RMB100B Over 3 Yrs
Xue Bing, the general manager of Meituan's takeaway division, announced at the "2025 China Catering Chain Summit" that the company will provide more subsidies to help merchants reduce costs and boost income, Chinese media reported.
Over the next three years, Meituan will invest RMB100 billion to support the healthy growth of catering partners, marking the largest industry support subsidy plan in the history of the catering sector.
Xue also revealed that the RMB100 billion will focus on four key areas:
1. Helping merchants to subsidize consumers to stimulate demand,
2. Providing assistance funds to increase merchants' income, supporting and rewarding high-quality merchants
3. Promoting initiatives and
4. strengthening industry infrastructure.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/news/ ... -news/AAFN
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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winston - Billionaire Boss
- Posts: 111922
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