HSI Down 360 pts;MEITUAN Down over 12%; NEW ORIENTAL Hit New Highs; Market Turnover Rises
At close, $Hang Seng Index(800000.HK$ dropped 360 pts or 2.1% to 16,993. $Hang Seng TECH Index(800700.HK$ dropped 90 pts or 2.3% to 3,910. $Hang Seng China Enterprises Index(800100.HK$ fell 138 pts or 2.3% to 5,818. Market turnover reached $130.16 billion.
Active Heavyweights:
$MEITUAN-W(03690.HK$ closed at $90.45, down 12.2%
$BABA-SW(09988.HK$ closed at $72.7, down 2.2%
$HKEX(00388.HK$ closed at $279.6, do...
Active Heavyweights:
$MEITUAN-W(03690.HK$ closed at $90.45, down 12.2%
$BABA-SW(09988.HK$ closed at $72.7, down 2.2%
$HKEX(00388.HK$ closed at $279.6, do...
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CLSA Adds PDD TP to US$167; 3Q23 Results Beat
CLSA issued a research report saying that PDD continued to beat expectations in 3Q23, with total revenue growing 93.9% YoY to RMB68.8 billion and adjusted net profit increasing 36.8% YoY to RMB17 billion, 13% and 34% above CLSA's expectations, respectively.
Improved consumer confidence, a new high-quality growth strategy, and Temu's stellar performance benefited the Company's revenue.
In addition, CLSA raised its adjusted net profit forecasts for P...
Improved consumer confidence, a new high-quality growth strategy, and Temu's stellar performance benefited the Company's revenue.
In addition, CLSA raised its adjusted net profit forecasts for P...
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Spinee
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MEITUAN Plans to Repurchase Shrs for No More than US$1B from Fri
$MEITUAN-W(03690.HK$ announced that the board of directors of the Company, on November 28, 2023, resolved to repurchase shares of the Company in the open market from time to time up to US$1 billion in value starting from December 1, 2023, pursuant to the share repurchase mandate approved by the shareholders of the Company at the annual general meeting.
The Company believes that the share repurchase will demonstrate the Company’s c...
The Company believes that the share repurchase will demonstrate the Company’s c...
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G Sachs Hikes PDD TP to US$176; Temu Key Surprise
Goldman Sachs wrote in a report that the 3Q results of $PDD Holdings(PDD.US$ have beaten market expectations, with the main surprise being a 315% YoY jump in transaction services revenue, well above the 175% growth ceiling expected by the market, believed to be due to increased economies of scale from its cross-border e-commerce platform Temu. Online promotion revenue also grew 39% YoY, better than market expectations.
Goldman raised its revenue f...
Goldman raised its revenue f...
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HSI Sags 300 pts+ as BABA, MEITUAN Seek Troughs
Hong Kong stocks fell for 4 consecutive days. $Hang Seng Index(800000.HK$ slightly opened 4 points higher at 17,359, and once sagged 326 points or 1.9% to a low of 17,046. The index last printed at 17,052, down 301 points or 1.7%. Total turnover amounted to $61.2 billion.
Blue chip stocks generally decreased. $MEITUAN-W(03690.HK$'s 3Q23 adjusted earnings beat expectations. However, its 4Q23 takeaway business revenue growth is expected to slow down. ...
Blue chip stocks generally decreased. $MEITUAN-W(03690.HK$'s 3Q23 adjusted earnings beat expectations. However, its 4Q23 takeaway business revenue growth is expected to slow down. ...
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BREAKING NEWS: Pinduoduo 3Q23 Results are out! And they're blazing hot.
Revenue +94% to $9.44B vs. $7.42B est. (BEAT!)
Rev from Transaction Svcs +315% to $4.0B
🔥🔥
Adjusted EPS +35% to $1.55 vs. $1.16 est. (BEAT!)
$Pinduoduo Concept(BK0724.SH$$PDD Holdings(PDD.US$$JD-SW(09618.HK$$MEITUAN-W(03690.HK$$BABA-SW(09988.HK$


Adjusted EPS +35% to $1.55 vs. $1.16 est. (BEAT!)
$Pinduoduo Concept(BK0724.SH$$PDD Holdings(PDD.US$$JD-SW(09618.HK$$MEITUAN-W(03690.HK$$BABA-SW(09988.HK$
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MEITUAN ADR Shr Price Slumps 10%+; Broker Foresees Margin Pressure
$MEITUAN-W(03690.HK$ released its financial results for the third quarter of 2023 after market close yesterday (28th). The share price of the company's ADRs plummeted 10.8% to US$24.8.
$Meituan Unsponsored ADR Class B RegS(MPNGY.US$
Goldman Sachs anticipated the operating profit margin of MEITUAN-W, in particular its core local commerce segment, to remain torpid in the fourth quarter. The broker projected the EBIT margin for the in-store, hotel & travel...
$Meituan Unsponsored ADR Class B RegS(MPNGY.US$
Goldman Sachs anticipated the operating profit margin of MEITUAN-W, in particular its core local commerce segment, to remain torpid in the fourth quarter. The broker projected the EBIT margin for the in-store, hotel & travel...
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MEITUAN Plummets 4%+ to 52-Wk Low Pre-results
$MEITUAN-W(03690.HK$ will announce its 3Q results after market close today (28th).
The stock suffered a fall for the 3rd consecutive trading day. After opening 0.6% higher at $109.3 this morning, it turned down and dropped to $103.6 in the afternoon, hitting a 52-week low. It now trades at $103.9, down 4.3%, with 22.5932 million shares traded, involving $2.389 billion.
While MEITUAN's takeaway order volume may be affected by macroeconomic and subsi...
The stock suffered a fall for the 3rd consecutive trading day. After opening 0.6% higher at $109.3 this morning, it turned down and dropped to $103.6 in the afternoon, hitting a 52-week low. It now trades at $103.9, down 4.3%, with 22.5932 million shares traded, involving $2.389 billion.
While MEITUAN's takeaway order volume may be affected by macroeconomic and subsi...
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SENSETIME Blasts Short-selling Report as Meritless, Reserves Rights to Take Appropriate Actions
$SENSETIME-W(00020.HK$ issued an announcement in response to the report released by Grizzly Research, a short-seller, today (28 Nov).
SENSETIME vehemently denies unfounded allegations in a recent report, citing a lack of understanding of its business model and financial structure. The report's author didn't verify information or contact the company. The board is reviewing the claims to safeguard shareh...
SENSETIME vehemently denies unfounded allegations in a recent report, citing a lack of understanding of its business model and financial structure. The report's author didn't verify information or contact the company. The board is reviewing the claims to safeguard shareh...
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KUAISHOU Reportedly Welcomes Staff from ByteDance's Game Unit to Join

$ByteDance(FT0001$ByteDance announced that its game business unit Nuverse will undergo a large-scale contraction in terms of business scale, which is expected to impact hundreds of employees.
According to Chinese media reports, Sparknexa, a game development company owned by $KUAISHOU-W(01024.HK$, immediately released recruitment posters welcoming employees from ByteDance's "Nuverse" to join their company....
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