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MEITUAN-W Spikes 4%+ as Citi Says 1Q Results Beat, CLC Operating Loss Narrows
Recommend 18 Positive 36 Negative 9 |
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MEITUAN-W (03690.HK) reported a non-IFRS adjusted loss of RMB4.968 billion for 1Q26, beating expectations. The stock opened 1.34% higher this morning (2nd) and peaked at HKD82.85. It last printed at HKD81.7, up 4.41%, with turnover of 29.0607 million shares, involving HKD2.379 billion. MEITUAN-W's results for 1Q26 were better than expected, Citi said in its report. Total revenue reached RMB91.04 billion, up 5.6% YoY, slightly above the broker's and market's forecasts of RMB90.63 billion and RMB90.8 billion, respectively. During the period, revenue from CLC hiked 0.1% YoY to RMB64.06 billion, while its operating loss narrowed drastically to RMB2.03 billion, outperforming Citi's estimate of a RMB4.56 billion loss and the market's forecast of a RMB4.38 billion loss. Revenue from delivery services declined 2.9% YoY to RMB25 billion, accounting for 27.5% of total revenue. The group's adjusted net loss was RMB4.97 billion, better than Citi's estimate of a RMB6.5 billion loss and the market's forecast of a RMB6.83 billion loss. Citi maintained a Buy/High Risk rating on MEITUAN-W with a TP of HKD110. Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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