MEITUAN-W (03690.HK) -2.100 (-1.499%) Short selling $1.63B; Ratio 17.427% saw a 18% YoY upswing in 1Q25 revenue, beating both the broker's and market's forecasts by 1%, CMBI said in its report. Adjusted net profit gained 46% YoY, exceeding the broker's and market's forecasts by 12% and 13%, respectively. Under intensified competition in the food delivery sector, industry participants are pouring in more resources to accelerate instant retail operations. Meituan is trading off short-term profitability to enhance user stickiness, aligning with the trend of accelerated industry penetration. Related NewsCLSA Slashes MEITUAN-W's TP to HKD185; Delivery Competition & Global Expansion Heap Pressure on Profit MarginsMeituan continued its international expansion to drive long-term revenue and profit growth. The broker remained optimistic about Meituan's competitive advantage in food delivery and believed industry competition should return to rationality at an appropriate time, although short-term visibility remains low.CMBI revised down its revenue forecast for Meituan from 2025 to 2027 by 1-2%, and adjusted net profit forecast by 11-21%. The TP was reduced from HKD200.2 to HKD181.6, with a Buy rating maintained. (HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-05-30 16:25.)