Reported Earnings • Apr 26
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: CN¥3.84 loss per share (down from CN¥5.85 profit in FY 2024). Revenue: CN¥364.9b (up 8.1% from FY 2024). Net loss: CN¥23.4b (down 165% from profit in FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 2.9%. Revenue is forecast to grow 9.9% p.a. on average during the next 3 years, compared to a 9.0% growth forecast for the Hospitality industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Major Estimate Revision • Apr 25
Consensus EPS estimates fall by 11% The consensus outlook for fiscal year 2026 has been updated. 2026 expected loss increased from -CN¥1.56 to -CN¥1.73 per share. Revenue forecast unchanged at CN¥404.6b. Hospitality industry in Hong Kong expected to see average net income growth of 33% next year. Consensus price target broadly unchanged at HK$111. Share price fell 4.7% to HK$82.45 over the past week. Recent Insider Transactions • Apr 21
Co-Founder recently sold HK$23m worth of stock On the 15th of April, Xing Wang sold around 270k shares on-market at roughly HK$85.74 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Xing has been a net seller over the last 12 months, reducing personal holdings by HK$26m. Major Estimate Revision • Apr 02
Consensus EPS estimates fall by 953% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from CN¥412.6b to CN¥406.5b. Losses expected to increase from CN¥0.14 per share to CN¥1.43. Hospitality industry in Hong Kong expected to see average net income growth of 32% next year. Consensus price target down from HK$118 to HK$112. Share price fell 8.9% to HK$81.95 over the past week. Reported Earnings • Mar 27
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: CN¥3.84 loss per share (down from CN¥5.85 profit in FY 2024). Revenue: CN¥364.9b (up 8.1% from FY 2024). Net loss: CN¥23.4b (down 165% from profit in FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 2.9%. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 9.0% growth forecast for the Hospitality industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Announcement • Mar 16
Meituan to Report Fiscal Year 2025 Results on Mar 26, 2026 Meituan announced that they will report fiscal year 2025 results on Mar 26, 2026 Announcement • Feb 13
Meituan Provides Earning Guidance for the Year Ended December 31, 2025 Meituan provided earning guidance for the year ended December 31, 2025. For the period, the Group expects to record a loss in the range of approximately RMB 23,300 million to RMB 24,300 million for the year ended December 31, 2025 (the "FY2025"), as compared to a profit of approximately RMB 35,808 million for the year ended December 31, 2024 (the "FY2024"). The expected loss of the Group in FY2025 was primarily due to a reversal from an operating profit of approximately RMB 52,415 million in FY2024 to an operating loss of approximately RMB 6,800 million to RMB 7,000 million in FY2025 for the Core Local Commerce segment, together with increased investments in the Group's overseas businesses. In particular, in response to the unprecedentedly intense industry competition in FY2025, the Group strategically increased investments across its entire ecosystem to strengthen its core advantages and drive sustainable growth. These initiatives mainly included: (i) on the consumer front, enhancing marketing and promotional efforts to strengthen brand awareness and price competitiveness, thereby continuously improving user transaction activity and engagement; (ii) on the delivery front, increasing incentives and enriching benefits for couriers to ensure service quality and enhance user experience; and (iii) on the merchant front, maintaining proactive resource investment to support merchants in improving operational efficiency, expanding consumer reach, iterating business models, and achieving steady growth. Reported Earnings • Nov 29
Third quarter 2025 earnings released Third quarter 2025 results: Revenue: CN¥95.5b (up 2.0% from 3Q 2024). Net loss: CN¥18.6b (down 245% from profit in 3Q 2024). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Hospitality industry in Hong Kong. Announcement • Nov 18
Meituan to Report Q3, 2025 Results on Nov 28, 2025 Meituan announced that they will report Q3, 2025 results on Nov 28, 2025 Valuation Update With 7 Day Price Move • Sep 03
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to HK$101, the stock trades at a forward P/E ratio of 60x. Average forward P/E is 14x in the Hospitality industry in Hong Kong. Total loss to shareholders of 42% over the past three years. Reported Earnings • Aug 28
Second quarter 2025 earnings released: EPS: CN¥0.06 (vs CN¥1.84 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.06 (down from CN¥1.84 in 2Q 2024). Revenue: CN¥91.8b (up 12% from 2Q 2024). Net income: CN¥365.3m (down 97% from 2Q 2024). Profit margin: 0.4% (down from 14% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Hospitality industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 92% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Major Estimate Revision • Aug 28
Consensus EPS estimates fall by 70% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from CN¥5.32 to CN¥1.61 per share. Revenue forecast steady at CN¥386.4b. Net income forecast to shrink 14% next year vs 26% growth forecast for Hospitality industry in Hong Kong . Consensus price target down from HK$170 to HK$165. Share price fell 3.7% to HK$116 over the past week. Announcement • Aug 17
Meituan to Report First Half, 2025 Results on Aug 27, 2025 Meituan announced that they will report first half, 2025 results on Aug 27, 2025 Recent Insider Transactions • Jul 22
Co-Founder recently sold HK$2.9m worth of stock On the 17th of July, Xing Wang sold around 23k shares on-market at roughly HK$126 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Xing has been a net seller over the last 12 months, reducing personal holdings by HK$5.8m. Announcement • Jun 25
Naspers May Sell Part of Its 4% Stake in Meituan Naspers Limited (JSE:NPN) is prepared to sell down its ZAR 71 billion stake in the world's largest food delivery company following moves by China's Meituan (SEHK:3690) to enter Brazil, a market in which the JSE-listed group is already dominant. In May, Chinese technology and delivery giant Meituan said it was preparing to launch its food delivery service, Keeta, in Brazil. The company plans to invest $1 billion (ZAR 17.78 billion) over the next five years to establish and expand its operations in the country. This expansion marks Meituan's entry into the South American market. For Naspers, which holds a stake in Meituan of about 4%, the move presents a conundrum as it already operates one of the largest food delivery businesses in the region, iFood. Meituan's entry would see two of its associated companies directly competing in Brazil. During an investor call late on Monday, Naspers and Prosus CEO Fabricio Bloisi said the group may sell part of the stake in Meituan, using the funds to invest in its own e-commerce businesses. The former iFood CEO is bearish about the Chinese company's ability to crack the Latin America market, saying there is a high chance of failure. "Our strategy is to invest more in companies that reinforce our ecosystem and we are going to keep doing that aggressively. I think Meituan has less probability of winning internationally," said Bloisi. "They are going to face some tough competition. As a Meituan shareholder I am disappointed because their risk of failing increases. Therefore, we might sell part of the Meituan shares, [to invest] in other areas with more connection to our existing ecosystems." Such a move is likely to unlock a big cash pile for Naspers, whose Meituan stake is valued about $4 billion (ZAR 71.1 billion). Naspers acquired this stake in 2022 after Chinese internet giant Tencent decided to distribute its 17% stake in Meituan to shareholders. "If we say let's invest more in some businesses in Latin America that we believe will reinforce our ecosystem, we could sell part of [our] Meituan shares, or everything that we think is reasonable, to invest more to reinforce our ecosystem," Bloisi said. "And we are going to do that, looking to our shareholders. If we have opportunities to grow faster and better than Meituan in some of our ecosystems, we will do it." For Meituan, this move is part a broader global expansion strategy, following its previous expansions into Hong Kong and the Middle East. Major Estimate Revision • Jun 02
Consensus EPS estimates fall by 17% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from CN¥395.2b to CN¥387.1b. EPS estimate also fell from CN¥6.78 per share to CN¥5.63 per share. Net income forecast to shrink 4.8% next year vs 26% growth forecast for Hospitality industry in Hong Kong . Consensus price target down from HK$199 to HK$175. Share price was steady at HK$138 over the past week. Announcement • May 16
Meituan, Annual General Meeting, Jun 09, 2025 Meituan, Annual General Meeting, Jun 09, 2025, at 14:00 China Standard Time. Location: meituan exhibition center, block a, hengjiweiye building, no. 4 wang jing east road, chaoyang district, beijing., China Announcement • May 14
Meituan to Report Q1, 2025 Results on May 26, 2025 Meituan announced that they will report Q1, 2025 results on May 26, 2025 Reported Earnings • May 02
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: CN¥5.85 (up from CN¥2.23 in FY 2023). Revenue: CN¥337.6b (up 22% from FY 2023). Net income: CN¥35.8b (up 158% from FY 2023). Profit margin: 11% (up from 5.0% in FY 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 3.3%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Hospitality industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 109% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Mar 24
Now 20% undervalued Over the last 90 days, the stock has risen 6.8% to HK$166. The fair value is estimated to be HK$208, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 12% per annum. Earnings are also forecast to grow by 18% per annum over the same time period. Reported Earnings • Mar 22
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: CN¥5.85 (up from CN¥2.23 in FY 2023). Revenue: CN¥337.6b (up 22% from FY 2023). Net income: CN¥35.8b (up 158% from FY 2023). Profit margin: 11% (up from 5.0% in FY 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 3.3%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Hospitality industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 109% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Announcement • Mar 11
Meituan to Report Fiscal Year 2024 Results on Mar 21, 2025 Meituan announced that they will report fiscal year 2024 results on Mar 21, 2025 Announcement • Feb 28
KKR, Fountainvest and PAG Reportedly Among Those Eyeing Starbucks China Stake KKR & Co (KKR.N), Fountainvest Partners and PAG are among buyout firms interested in acquiring a stake in Starbucks Corporation (NasdaqGS:SBUX) China business (Starbucks (China) Company Limited), four sources said, as the U.S. coffee chain looks to revive flagging sales in its second-largest market. Chinese companies, including state-owned conglomerate China Resources (Holdings) Co., Ltd. and food delivery giant Meituan (SEHK:3690), have also been approached as potential buyers, said one of the sources with knowledge of the matter. Starbucks' Executive Vice President and Chief Financial Officer, Rachel Ruggeri, is expected to be among senior company executives visiting China in the coming weeks to hold sale talks, said two of the four sources. All the sources spoke on condition of anonymity as the information is not public yet. The talks come as Starbucks CEO Brian Niccol, who took the top job at the coffee chain in August, faces the daunting task of steering the company back to growth amid falling demand in the U.S. and China as well as a decline in its share price. Starbucks said on February 24, 2025 it would eliminate 1,100 corporate roles as Niccol's "Back to Starbucks" plan focuses on streamlining business through job cuts and by improving customer experience at its U.S. stores. The size of the stake to be sold in Starbucks' China business has not been determined and would be subject to negotiations, the sources said. The names of the interested bidders have not been previously reported. The Seattle-based company would likely prefer a franchisee deal with a strategic partner as part of a stake sale plan, said two of the sources. In a franchisee deal, Starbucks China would be valued at more than $1 billion, they added. A Starbucks spokesperson declined to confirm the content of the story and referred Reuters request for comment to Niccol's remarks on China at the earnings call in January, after his first market visit to China. Niccol said at the time that he saw several near-term changes Starbucks could make to strengthen its business while continuing to explore strategic partnerships to grow in China. KKR, PAG and China Resources declined to comment, while Fountainvest and Meituan did not respond. Starbucks is aiming to reach a deal for its China business by the end of this year, although the structure of the potential transaction has not been finalised and is subject to changes, two of the sources said. In China, the chain is dealing with sluggish economic growth and stiff competition from local brands such as Luckin Coffee, which has gained market share with cheaper products and wider coverage in lower-tier cities. Starbucks has been in informal talks with several private equity firms and companies since the second half of 2024 about strategic options for its business in China, home to more than a fifth of all Starbucks stores, the sources said. Reported Earnings • Nov 30
Third quarter 2024 earnings released Third quarter 2024 results: EPS: CN¥2.09. Revenue: CN¥93.6b (up 22% from 3Q 2023). Net income: CN¥12.9b (up 258% from 3Q 2023). Profit margin: 14% (up from 4.7% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Hospitality industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 113% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Announcement • Nov 19
Meituan to Report Q3, 2024 Results on Nov 29, 2024 Meituan announced that they will report Q3, 2024 results on Nov 29, 2024 Valuation Update With 7 Day Price Move • Nov 14
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to HK$169, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 12x in the Hospitality industry in Hong Kong. Total loss to shareholders of 41% over the past three years. Recent Insider Transactions • Oct 04
Co-Founder recently sold HK$258m worth of stock On the 30th of September, Rongjun Mu sold around 2m shares on-market at roughly HK$172 per share. This transaction amounted to 2.7% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Rongjun has been a net seller over the last 12 months, reducing personal holdings by HK$483m. Valuation Update With 7 Day Price Move • Sep 29
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to HK$165, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 14x in the Hospitality industry in Hong Kong. Total loss to shareholders of 33% over the past three years. Valuation Update With 7 Day Price Move • Sep 04
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to HK$119, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 12x in the Hospitality industry in Hong Kong. Total loss to shareholders of 54% over the past three years. Announcement • Aug 29
Meituan (SEHK:3690) announces an Equity Buyback. Meituan (SEHK:3690) announces a share repurchase program. Under the program, the company will repurchase up to $1,000 million worth of its Class B ordinary shares. Reported Earnings • Aug 29
First half 2024 earnings released: EPS: CN¥2.70 (vs CN¥1.30 in 1H 2023) First half 2024 results: EPS: CN¥2.70 (up from CN¥1.30 in 1H 2023). Revenue: CN¥155.5b (up 23% from 1H 2023). Net income: CN¥16.7b (up 108% from 1H 2023). Profit margin: 11% (up from 6.4% in 1H 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Hospitality industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 92% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. Major Estimate Revision • Aug 29
Consensus EPS estimates increase by 11% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from CN¥4.38 to CN¥4.86. Revenue forecast steady at CN¥332.3b. Net income forecast to grow 92% next year vs 57% growth forecast for Hospitality industry in Hong Kong. Consensus price target broadly unchanged at HK$143. Share price fell 4.5% to HK$103 over the past week. Announcement • Aug 15
Meituan to Report First Half, 2024 Results on Aug 28, 2024 Meituan announced that they will report first half, 2024 results on Aug 28, 2024 Recent Insider Transactions • Jun 18
Independent Non-Executive Director recently sold HK$5.0m worth of stock On the 13th of June, Xuesong Leng sold around 43k shares on-market at roughly HK$116 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth HK$116m. Insiders have been net sellers, collectively disposing of HK$480m more than they bought in the last 12 months. Major Estimate Revision • Jun 13
Consensus EPS estimates increase by 17% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from CN¥324.6b to CN¥329.8b. EPS estimate increased from CN¥3.72 to CN¥4.34 per share. Net income forecast to grow 87% next year vs 38% growth forecast for Hospitality industry in Hong Kong. Consensus price target up from HK$137 to HK$144. Share price was steady at HK$113 over the past week. Reported Earnings • Jun 07
First quarter 2024 earnings released First quarter 2024 results: Revenue: CN¥73.3b (up 25% from 1Q 2023). Net income: CN¥5.37b (up 60% from 1Q 2023). Profit margin: 7.3% (up from 5.7% in 1Q 2023). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Hospitality industry in Hong Kong. Announcement • May 25
Meituan to Report Q1, 2024 Results on Jun 06, 2024 Meituan announced that they will report Q1, 2024 results After-Market on Jun 06, 2024 Recent Insider Transactions • May 03
Co-Founder recently sold HK$116m worth of stock On the 26th of April, Rongjun Mu sold around 1m shares on-market at roughly HK$116 per share. This transaction amounted to 2.6% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Rongjun has been a net seller over the last 12 months, reducing personal holdings by HK$472m. Reported Earnings • May 01
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: CN¥2.23 (up from CN¥1.09 loss in FY 2022). Revenue: CN¥276.7b (up 26% from FY 2022). Net income: CN¥13.9b (up CN¥20.5b from FY 2022). Profit margin: 5.0% (up from net loss in FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 6.6%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Hospitality industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has fallen by 27% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Apr 24
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to HK$114, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 14x in the Hospitality industry in Hong Kong. Total loss to shareholders of 63% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$176 per share. Reported Earnings • Mar 23
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: CN¥2.23 (up from CN¥1.09 loss in FY 2022). Revenue: CN¥276.7b (up 26% from FY 2022). Net income: CN¥13.9b (up CN¥20.5b from FY 2022). Profit margin: 5.0% (up from net loss in FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 6.6%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Hospitality industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has fallen by 34% per year, which means it is significantly lagging earnings. Major Estimate Revision • Mar 23
Consensus EPS estimates fall by 16% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from CN¥3.15 to CN¥2.64 per share. Revenue forecast steady at CN¥328.2b. Net income forecast to grow 50% next year vs 50% growth forecast for Hospitality industry in Hong Kong. Consensus price target down from HK$142 to HK$138. Share price was steady at HK$88.25 over the past week. Announcement • Mar 22
Meituan Appoints Marjorie Mun Tak Yang as Member of the Audit Committee Meituan announced that, Ms. Marjorie Mun Tak Yang (Ms. Yang), an independent non-executive director of the company, has been appointed as a member of the audit committee of the company (the audit committee), with effect from March 22, 2024. Announcement • Mar 13
Meituan to Report Q4, 2023 Results on Mar 22, 2024 Meituan announced that they will report Q4, 2023 results After-Market on Mar 22, 2024 Valuation Update With 7 Day Price Move • Nov 29
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to HK$90.45, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 16x in the Hospitality industry in Hong Kong. Total loss to shareholders of 67% over the past three years. Announcement • Nov 17
Meituan to Report Q3, 2023 Results on Nov 28, 2023 Meituan announced that they will report Q3, 2023 results After-Market on Nov 28, 2023 Reported Earnings • Sep 30
Second quarter 2023 earnings released: EPS: CN¥0.75 (vs CN¥0.18 loss in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.75 (up from CN¥0.18 loss in 2Q 2022). Revenue: CN¥68.0b (up 33% from 2Q 2022). Net income: CN¥4.69b (up CN¥5.80b from 2Q 2022). Profit margin: 6.9% (up from net loss in 2Q 2022). Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Hospitality industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 19% per year whereas the company’s share price has fallen by 22% per year. Recent Insider Transactions • Sep 28
Co-Founder recently sold HK$2.8m worth of stock On the 26th of September, Xing Wang sold around 24k shares on-market at roughly HK$117 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth HK$20m. This was Xing's only on-market trade for the last 12 months. Reported Earnings • Aug 25
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: CN¥68.0b (up 33% from 2Q 2022). Net income: CN¥4.69b (up CN¥5.80b from 2Q 2022). Profit margin: 6.9% (up from net loss in 2Q 2022). Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Hospitality industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 19% per year whereas the company’s share price has fallen by 21% per year. Announcement • Aug 12
Meituan to Report First Half, 2023 Results on Aug 24, 2023 Meituan announced that they will report first half, 2023 results on Aug 24, 2023 Recent Insider Transactions • Jul 06
Co-Founder recently sold HK$20m worth of stock On the 30th of June, Rongjun Mu sold around 167k shares on-market at roughly HK$122 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Rongjun has been a net seller over the last 12 months, reducing personal holdings by HK$348m. Announcement • Jul 01
Meituan Approves to Elect Marjorie Mun Tak Yang as an Independent Non-Executive Director Meituan at its AGM held on June 30, 2023, approved to elect Ms. Marjorie Mun Tak Yang as an independent non-executive Director. Announcement • Jun 27
Meituan Announces Executive Changes Meituan announced that Mr. Wang Huiwen has tendered his resignation as a non-executive director of the Company, a member of the nomination committee of the board of directors of the Company and an authorized representative of the Company each with effect from June 26, 2023, due to personal health reasons. Mr. Wang Huiwen confirmed that he has no disagreement with the Company and there are no circumstances related to his resignation above which need to be brought to the attention of the Stock Exchange and the shareholders of the Company. Following the Resignation, the Company announced that Mr. Mu Rongjun, executive Director, has been appointed as an Authorized Representative with effect from June 26, 2023. The company further announces that, following the Resignation, the composition of the Nomination Committee shall consist of Mr. Leng Xuesong and Dr. Shum Heung Yeung Harry, with Mr. Leng Xuesong continuously serving as the chairman of the Nomination Committee. Buying Opportunity • Jun 19
Now 21% undervalued Over the last 90 days, the stock is up 5.3%. The fair value is estimated to be HK$172, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 31% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 18% per annum. Earnings is also forecast to grow by 50% per annum over the same time period. Announcement • Jun 09
Meituan, Annual General Meeting, Jun 30, 2023 Meituan, Annual General Meeting, Jun 30, 2023, at 14:00 China Standard Time. Location: Command Center of Meituan Beijing Office, Block A Hengjiweiye Building, No. 4 Wang Jing East Road, Chaoyang District Beijing China Agenda: To receive and adopt the audited consolidated financial statements of the Company for the year ended December 31, 2022 and the reports of the Directors and independent auditor thereon; to consider conditional upon the passing of the special resolution set forth herein, to elect Ms. Marjorie Mun Tak Yang as an independent non-executive Director; to re-elect Mr. Wang Huiwen as a non-executive Director; to authorize the Board to fix the remuneration of the Directors; and to consider any other matters. Reported Earnings • May 30
First quarter 2023 earnings released First quarter 2023 results: Revenue: CN¥58.6b (up 27% from 1Q 2022). Net income: CN¥3.36b (up CN¥9.06b from 1Q 2022). Profit margin: 5.7% (up from net loss in 1Q 2022). Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Hospitality industry in Hong Kong. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 72 percentage points per year, which is a significant difference in performance. Buying Opportunity • May 24
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 6.3%. The fair value is estimated to be HK$166, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 31% over the last 3 years. Meanwhile, the company became loss making. Announcement • May 22
Meituan Launches Food Delivery Brand KeeTa Amid Hong Kong Debut Meituan introduced KeeTa, a new food delivery brand as it officially launches in the Hong Kong market, to provide residents with more customized, efficient and reliable delivery services. Following the initial launch in Mong Kok and Tai Kok Tsui, the Company expects KeeTa to complete full coverage of the Hong Kong market by the end of this year. The KeeTa app is now available for download in major mobile app stores. Delivery services via KeeTa will start at 8:00 a.m., May 22, 2023 local time. Notable merchants that have joined KeeTa include brands like McDonald's, Maxim's MX (Mei Xin MX), KFC, Yoshinoya(Ji Ye Jia), Pacific Coffee, and popular food and beverage shops such as hana-musubi (Hua Yu Jie), Hung Fook Tong (Hong Fu Tang), and CHICHA San Chen(Chi Cha San Qian). Each newly registered KeeTa user will receive a gift coupon package valued at HKD 300, including special meal offers and delivery fee reductions. Announcement • May 17
Meituan to Report Q1, 2023 Results on May 25, 2023 Meituan announced that they will report Q1, 2023 results After-Market on May 25, 2023 Buying Opportunity • Mar 27
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 28%. The fair value is estimated to be HK$170, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 31% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Mar 26
Full year 2022 earnings: EPS in line with analyst expectations despite revenue beat Full year 2022 results: CN¥1.09 loss per share (improved from CN¥3.90 loss in FY 2021). Revenue: CN¥220.0b (up 23% from FY 2021). Net loss: CN¥6.69b (loss narrowed 72% from FY 2021). Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Hospitality industry in Hong Kong. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 95 percentage points per year, which is a significant difference in performance. Buying Opportunity • Feb 23
Now 20% undervalued Over the last 90 days, the stock is up 1.8%. The fair value is estimated to be HK$175, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 32% over the last 3 years. Earnings per share has declined by 91%. Buying Opportunity • Feb 06
Now 22% undervalued Over the last 90 days, the stock is up 10%. The fair value is estimated to be HK$212, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 32% over the last 3 years. Earnings per share has declined by 91%. Recent Insider Transactions • Jan 22
Co-Founder recently sold HK$164m worth of stock On the 17th of January, Rongjun Mu sold around 1m shares on-market at roughly HK$164 per share. This transaction amounted to 2.6% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Rongjun has been a net seller over the last 12 months, reducing personal holdings by HK$360m. Recent Insider Transactions • Jan 05
Co-Founder & Executive Director recently sold HK$93m worth of stock On the 29th of December, Huiwen Wang sold around 512k shares on-market at roughly HK$182 per share. This transaction amounted to 5.0% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Huiwen has been a net seller over the last 12 months, reducing personal holdings by HK$103m. 
