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<Research>CMS Rates MEITUAN-W as Overweight, Predicts 4Q Core Local Biz Operating Loss RMB11.8B
Recommend 13 Positive 13 Negative 8 |
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China Merchants Securities has published a research report anticipating that MEITUAN-W (03690.HK)'s earnings will recover next year in light of its stable high customer order share. MEITUAN-W's 3Q25 revenue grew by 2% YoY to RMB95.5 billion, 2% below expectations, while its gross profit declined by 31% YoY. The adjusted operating loss was RMB15.3 billion, in line with forecasts. In China Merchants Securities' estimate, MEITUAN-W's 4Q25 core local business operating loss will reach RMB11.8 billion, with an absolute investment scale of around RMB22 billion. China Merchants Securities kept MEITUAN-W's target price at HKD139, with a rating of Overweight. AAStocks Financial News |
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