Market Insight | Meituan-WR rises by over 3% again, first-quarter performance announcement imminent, BofA optimistic about core business profit growth
Meituan-W rose by over 3% again. As of the time of publication, it rose by 3.21% to HKD 112.5, with a turnover of HKD 12.36 billion. On the news front, Meituan is set to announce its first-quarter performance for 2024 on June 6 (this Thursday). According to a report from Bank of America, it is estimated that in a situation where market competition is stabilizing, Meituan's performance in the first quarter is generally in line with expectations, and both quarterly and full-year core business profits are expected to increase. Bank of America predicts that Meituan's first-quarter revenue will increase by 20% year-on-year to 70.5 billion yuan, with core business operating profit expected to reach 8.6 billion yuan
According to the information from the Wise Finance APP, Meituan-W (03690) rose by over 3% again. As of the time of publication, it increased by 3.21% to HKD 112.5, with a turnover of HKD 1.236 billion.
On the news front, Meituan is set to announce its first-quarter performance for 2024 on June 6 (this Thursday). A report from Bank of America estimated that with the market competition stabilizing, Meituan's performance in the first quarter is expected to roughly meet expectations, with both quarterly and full-year core business profits expected to increase. Bank of America predicts that Meituan's first-quarter revenue will increase by 20% year-on-year to 70.5 billion yuan, and the core business operating profit is expected to reach 8.6 billion yuan