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HKG:3690

12 stories mentioning HKG:3690Updated 11d ago

Every FINWIRES story that references HKG:3690, newest first.

Asia

Meituan Faces Roadblocks to Profitability Amid Possible Subsidy War Revival, S&P Says

Meituan (HKG:3690) faces a volatile road back to profitability as potential promotional spending spikes from rivals could reignite sector subsidy wars, S&P Global Ratings said in a recent release.The Chinese delivery giant's first-quarter operating margins rebounded to -7% from -21% during the peak of price competition in the third quarter of 2025, the rating agency said.S&P forecasts the company's EBITDA margins will recover to about 3% in 2026, dependent on a positive EBITDA in the second half of the year through highly targeted subsidies.S&P has a negative outlook on the company, saying that aggressive rival promotions could delay positive free cash flow generation beyond 2026.The company is shifting its focus toward higher net gross transaction value over absolute volume while boosting operational efficiency by deploying Tencent Holdings' (HKG:0700) Yuanbao agentic AI.

HKG:0700HKG:3690
Asia

Nomura Upgrades Meituan to Buy From Neutral, Adjusts Price Target to HK$109 From HK$92

Meituan (HKG:3690) has an average rating of overweight and mean price target of HK$108.72, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

HKG:3690
Research

UOB Kay Hian Upgrades Meituan to Hold from Sell; Price Target is HK$76

Meituan (HKG:3690) has an average rating of overweight and mean price target of HK$109.46, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

HKG:3690
Asia

ICBC Research Upgrades Meituan to Buy from Neutral; Price Target is HK$102.60

Meituan (HKG:3690) has an average rating of overweight and mean price target of HK$109.46, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

HKG:3690
Asia

Jefferies Adjusts Meituan's Price Target to HK$132 From HK$130, Keeps at Buy

Meituan (HKG:3690) has an average rating of overweight and mean price target of HK$109.15, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

HKG:3690
Asia

Meituan Swings to Q1 Loss

Meituan (HKG:3690) recorded a loss of 6.83 billion yuan in the first quarter of 2026, compared with a profit of 10.1 billion yuan a year prior, according to a Monday Hong Kong bourse filing.The Chinese food delivery firm's revenue increased 5.6% to 91 billion yuan from 86.2 billion yuan in the year-ago period.

HKG:3690
Asia

Market Chatter: Meituan's Keeta Food Delivery Arm Faces Brazil Lawsuit for Unfair Business Practices

Meituan's (HKG:3690) food delivery arm, Keeta, faces an unfair competition lawsuit filed by Brazilian food delivery app iFood over alleged unfair competition, Reuters reported Wednesday.Consulting firms allegedly approached iFood employees to obtain confidential business information in exchange for a "significant" amount, according to Reuters.The Prosus-owned food delivery service identified a now ex-employee who received a proposal and met via video call while still with the company, leading to a police probe, the report said.IFood petitioned a business court in Sao Paulo to compel Keeta to alter its business practices and pay the Prosus-owned food delivery arm 1 million reais plus additional compensation, the report said, citing court documents seen by the newswire.Shares rose 1% during morning trading on Thursday.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

HKG:3690
Asia

Drone Adoption to Leave Some Chinese Delivery Players Lagging, S&P Says

Chinese e-commerce and delivery platforms' shift to drones could result in laggards among players that fail to adapt, S&P Global Ratings said in a recent release.Major players have already pivoted to airborne delivery with different goals, including Meituan (HKG:3690) which sees the innovation as a key extension of its on-demand delivery efforts, S&P said.Meanwhile, JD Logistics (HKG:2618) considers drones as an efficiency and cost reduction driver, in S&P's view.The rating agency sees the advancement as a positive business risk that offers efficiencies and brand improvement.Failure to adapt drone efforts could sideline other players to commodity services, with no service differentiation other than reduced prices, S&P credit analyst Sandy Lim said.Revenue in the segment could more than double to 3.5 trillion yuan yearly by 2035 from 1.5 trillion yuan last year, with services possibly expanding from drone deliveries to more special means such as flying taxis, S&P said.

Shanghai Composite^SZSEHKG:2618HKG:3690
Asia

China's Major Food Delivery Platform Could Reconsider Subsidies Amid Regulatory Fines, S&P Says

Regulatory fines on China's major food delivery platforms could lead to players veering away from subsidies and instead adopt efforts focusing on quality, S&P Global Ratings said in a Monday release.The fines point to authorities' efforts to tone down heightened competition, or involution, in the segment, S&P said.The regulatory move will enable major players such as Meituan (HKG:3690), Alibaba (HKG:9988), and JD.com (HKG:9618) to focus on quality rather than on subsidies, which could lead to better profits after a decline last year, the rating agency said.However, long-term impact will depend on whether the rule will be thoroughly enforced, S&P said.

Shanghai Composite^SZSEHKG:3690HKG:9618HKG:9988
Asia

China Fines Food Delivery Operators for Failing to Vet Sellers

China's market regulator fined leading food delivery operators a total of 3.60 billion yuan for failing to filter out unqualified sellers, according to a notice released Friday.Among those fined are Alibaba's (HKG:9988)Ele.me, Taobao, and Tmall, TikTok's Douyin, as well as Pinduoduo and Meituan (HKG:3690), the State Administration for Market Regulation said.China also fined the legal representatives and food safety directors of the companies a total of 19.7 million yuan.The decision comes after a series of probes on so-called "ghost deliveries" in which merchants affiliated to delivery operators used fake locations and licenses, Bloomberg reported separately.

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Asia

Heightened Competition in China's On-Demand Delivery Segment Raises Risk of Lingering Price War, S&P Says

Continued elevated competition between major companies in China's on-demand delivery market raises the risk of a persistent price war amid a delay in subsidy reductions until 2028, S&P Global Ratings said in a recent release.These create adverse conditions for all players, S&P said.Major platform operators Meituan (HKG:3690), JD.com (HKG:9618), and Alibaba Group Holding (HKG:9988) have allocated significant spending to seize a share of the on-demand delivery markets, such as food and online retail, S&P senior analyst Jay Lau said.These fast-paced segments account for more than 6% of China's retail sector, S&P said.The negative impact of the price war will be greater than expected, continuing the negative trend on major players' EBITDA since 2025, Lau said.

Shanghai Composite^SZSEHKG:3690HKG:9618HKG:9988
Asia

Meituan Grants Restricted Share Units

Meituan (HKG:3690) said it granted 79.3 million restricted share units to its employees and certain service providers, according to a Hong Kong bourse filing Monday.Shares of the Chinese food delivery firm were down over 1% in morning trade Tuesday.Of the total, around 79.2 million RSUs were granted to employee participants, while 142,654 RSUs granted to service providers.

HKG:3690

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