Understanding the Market | MEITUAN-W rose over 6% in the afternoon as Meituan further enhances the strategic weight of its overseas business, with Brazil's Keeta launching at the end of October
Meituan-W rose over 6% in the afternoon, and as of the time of writing, it was up 5.72%, priced at HKD 101.6, with a transaction volume of HKD 8.333 billion. On the news front, on October 20, Meituan announced that Xiao Fei, head of hardware and software services, and Qiu Guangyu, head of the Keeta business, have entered Meituan's highest decision-making body, the S-team. This move is seen as an important signal for Meituan to further enhance the strategic weight of its overseas business. Additionally, starting from October 30, Meituan's brand Keeta will officially launch operations in the Brazilian market, with the first pilot cities being Santos and São Vicente in the coastal region of São Paulo state. CMB International released a research report stating that the impact of new investments in the takeaway business on Meituan's operating profit may have peaked, but the pace of improvement in the competitive environment is still worth paying attention to. The institution believes that industry competition will eventually return to rationality, and Meituan's leading position in high-ticket quality takeaway orders is solid, but the certainty and visibility of short-term profit growth recovery are relatively low. It maintains a "Buy" rating
According to Zhitong Finance APP, Meituan-W (03690) rose over 6% in the afternoon, and as of the time of writing, it was up 5.72%, priced at HKD 101.6, with a transaction volume of HKD 8.333 billion.
In terms of news, on October 20, Meituan announced that Xiao Fei, head of hardware and software services, and Qiu Guangyu, head of the Keeta business, have entered Meituan's highest decision-making body, the S-team. This move is seen as an important signal for Meituan to further enhance the strategic weight of its overseas business. Additionally, starting from October 30, Meituan's brand Keeta will officially launch operations in the Brazilian market, with the first pilot cities being Santos and São Vicente in the coastal region of São Paulo.
CMB International released a research report stating that the impact of new investments in the takeaway business on Meituan's operating profit may have peaked, but the pace of improvement in the competitive environment is still worth paying attention to. The institution believes that industry competition will eventually return to rationality, and Meituan's leading position in high-value takeaway orders is solid, but the certainty and visibility of short-term profit growth recovery are relatively low. It maintains a "Buy" rating
