Earnings GrowthMeituan’s revenue reached Rmb86.6bn, up 18.1% yoy, with adjusted net profit up 46.2% yoy, mainly due to better margin for the local commerce sector and efficient opex control.
International ExpansionManagement shared promising progress on Meituan’s overseas expansion with Keeta, having expanded into more than 9 cities in Saudi Arabia and taking dominant market share in Hong Kong.
Market PositionAnalyst maintains a BUY recommendation on Meituan, believing that the leading position in the food delivery segment remains intact in the long term, with strong earnings potential from Keeta.