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<Research>CLSA Expects MEITUAN-W's 4Q New Biz Loss to Have Deepened to RMB3.3B
Recommend 16 Positive 18 Negative 14 |
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Dragged by the delivery subsidy war, CLSA predicts that MEITUAN-W (03690.HK)'s 4Q25 total revenue will have grown only slightly by 2% to RMB90 billion, while the adjusted LBIT will have remained at RMB13 billion. Meanwhile, MEITUAN-W's new business loss may have widened to RMB3.3 billion, with increased expenditures for overseas expansion. As competitors are leveraging delivery services to acquire users for e-commerce and AI applications, intense competition may go on for a longer period of time. CLSA has kept an Overweight rating on MEITUAN-W, with a target price of HKD135. AAStocks Financial News |
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