MEITUAN-W (03690.HK) +8.400 (+6.393%) Short selling $1.22B; Ratio 20.856% delivered an ascending pattern today (27th). It once sank to an intraday low of HKD122.3 with a slump of 5.5%, but eventually managed a rebound at midday. It last traded at HKD132, up 2%, on a turnover of HKD9.575 billion.According to a CICC report, MEITUAN-W's 1Q25 revenue grew by 18% YoY to RMB86.6 billion, beating the broker's expectations by 1.4%, while its adjusted net profit reached RMB10.95 billion, 21% higher than the broker's expectations. These achievements were attributable to better-than-expected core local commerce operating profit and smaller-than-expected losses in unallocated items. The company's adjusted net profit margin stood at 12.6%.Related NewsBofAS Trims MEITUAN-W TP to HKD155 on ST Growth & Margin Pressure from Intensified CompetitionThe report also highlighted the resolve of MEITUAN-W's food delivery business in tackling competition. While the company's short-term results may erode, CICC remains confident in its long-term prospects.The broker kept an Outperform rating on MEITUAN-W with a target price of HKD177 in light of the resilience of its food delivery business.(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-05-29 12:25.)