Stock Track | Meituan Surges on Upbeat Outlook and Profitability Improvement

Stock Track08-30

Shares of Chinese delivery giant Meituan (03690) soared 5.10% during intraday trading on August 30, 2024, as investors reacted positively to the company's promising outlook and improved profitability.

According to a research note from Morningstar analyst Kai Wang, Meituan's second-quarter results showed significant profitability improvement, despite facing intense competition in its in-store and hotel businesses. The company has been promoting lower-value transactions to cater to Chinese consumers' needs amid the slowing economy.

Notably, Meituan has managed to narrow losses in its new initiatives, such as Meituan Select, its group-buying business. Wang believes these efforts will be less value-destructive going forward, contributing to the company's overall financial performance.

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Raden445
09-02
Raden445
Yer prom ay you nhow

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The company has been promoting lower-value transactions to cater to Chinese consumers' needs amid the slowing economy.</p>\n\n<p>Notably, Meituan has managed to narrow losses in its new initiatives, such as Meituan Select, its group-buying business. Wang believes these efforts will be less value-destructive going forward, contributing to the company's overall financial performance.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"03690":"美团-W"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1190637023","content_text":"Shares of Chinese delivery giant Meituan (03690) soared 5.10% during intraday trading on August 30, 2024, as investors reacted positively to the company's promising outlook and improved profitability.\nAccording to a research note from Morningstar analyst Kai Wang, Meituan's second-quarter results showed significant profitability improvement, despite facing intense competition in its in-store and hotel businesses. The company has been promoting lower-value transactions to cater to Chinese consumers' needs amid the slowing economy.\nNotably, Meituan has managed to narrow losses in its new initiatives, such as Meituan Select, its group-buying business. 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