Morgan Stanley has issued a report expecting MEITUAN-W (03690.HK)  -4.300 (-2.898%)    Short selling $558.04M; Ratio 20.157%   to maintain a 10.5% growth rate in food delivery transaction volume in 2Q25, yet it will also record a decline in operating profit due to intensifying industry competition.

Nevertheless, Morgan Stanley remained confident in the long-term "moat" of MEITUAN-W's food delivery business, though it predicted that short-term profit margins would face pressure and new initiatives in FY25, especially expansion into the Brazilian market, would deepen losses.

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Morgan Stanley forecasted MEITUAN-W's 2Q local services revenue to grow by 10% YoY to RMB67 billion, while its operating profit would drop by 15% YoY to RMB12.9 billion. The broker lowered its target price from HKD200 to HKD160.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-06-10 12:25.)