Meituan Set to Face Stiff Competition This Year -- Market Talk

Dow Jones03-27

0711 GMT - Meituan's core local commerce segment will likely face stiff competition this year, while operating profit is expected to remain flat, UOB Kay Hian analysts write in a note. The Chinese shopping-and-delivery platform anticipates a lukewarm consumption trend going into 2024, which will impact its average order value, they note. The outlook for its in-store, hotel and travel segment also remains uncertain due to competition, they add. However, plans to refine its business model and narrow the overall operating loss should bode well for earnings, they say. UOB Kay Hian keeps a hold rating but raises the target price to HK$80.00 from HK$70.00 to reflect expectations of 16%-17% top-line growth in 2024-2025. Shares are 2.9% lower at HK$90.70. (kimberley.kao@wsj.com)

(END) Dow Jones Newswires

March 27, 2024 03:12 ET (07:12 GMT)

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However, plans to refine its business model and narrow the overall operating loss should bode well for earnings, they say. UOB Kay Hian keeps a hold rating but raises the target price to HK$80.00 from HK$70.00 to reflect expectations of 16%-17% top-line growth in 2024-2025. Shares are 2.9% lower at HK$90.70. (kimberley.kao@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  March 27, 2024 03:12 ET (07:12 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Meituan Set to Face Stiff Competition This Year -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMeituan Set to Face Stiff Competition This Year -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-03-27 15:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://dowjonesnews.com/newdjn/logon.aspx?AL=N><strong>Dow Jones</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>0711 GMT - Meituan's core local commerce segment will likely face stiff competition this year, while operating profit is expected to remain flat, UOB Kay Hian analysts write in a note. The Chinese ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0359201612.USD","symbol_name":"贝莱德中国基金A2","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2422937606","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2422937606","pubTimestamp":1711523520,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0711 GMT - Meituan's core local commerce segment will likely face stiff competition this year, while operating profit is expected to remain flat, UOB Kay Hian analysts write in a note. 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The Chinese shopping-and-delivery platform anticipates a lukewarm consumption trend going into 2024, which will impact its average order value, they note. The outlook for its in-store, hotel and travel segment also remains uncertain due to competition, they add. However, plans to refine its business model and narrow the overall operating loss should bode well for earnings, they say. UOB Kay Hian keeps a hold rating but raises the target price to HK$80.00 from HK$70.00 to reflect expectations of 16%-17% top-line growth in 2024-2025. Shares are 2.9% lower at HK$90.70. 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