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<Research>Daiwa Cuts MEITUAN-W's TP to HKD200 on Escalating Competition
According to a Daiwa report, MEITUAN-W (03690.HK)'s revenue for 1Q25 was basically in line with market expectations, while the operating profit margin of its food delivery busi...
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<Research>Daiwa Cuts MEITUAN-W's TP to HKD200 on Escalating Competition
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According to a Daiwa report, MEITUAN-W (03690.HK)  -1.700 (-1.287%)    Short selling $2.38B; Ratio 20.042%   's revenue for 1Q25 was basically in line with market expectations, while the operating profit margin of its food delivery business beat market expectations.

In Daiwa's opinion, the competitive landscape of the food delivery market in 2025 will be more challenging as competitors will be ramping up their efforts to capture market share by offering high subsidies. This intense competition, although unsustainable, will exert downside pressure on the growth prospects and profit margins of the food delivery market in the short term.

Related NewsDaiwa Elevates MIXUE GROUP (02097.HK) TP to $608, Rating Outperform
Daiwa reiterated a Buy rating on MEITUAN-W but lowered its target price from HKD235 to HKD200.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-05-27 16:25.)

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