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MET Futures(JUN4) News
On June 17th, Meituan-W (03690.HK) spent HKD 500 million to repurchase 4.305 million shares.
On June 17th, Meituan-W (03690.HK) announced that it would spend HK$500 million to repurchase 4.305 million shares.
Express News | Meituan Bought Back 4.3 Mln Class B Shares for HK$500 Mln on June 17 - HKEX Filing
Bank of America Securities reiterated its "buy" rating on Meituan-W03690, with a target price of 142 Hong Kong dollars.
According to the report released by Bank of America Securities, the target price of Meituan-W03690 has been raised by 5.2% from HKD 135 to HKD 142, with a 3%-6% increase in profit forecast for 2024-2026, mainly due to the improvement of profit trends. The rating of "buy" was reiterated, and the bank pointed out that the core business trend of Meituan is optimistic and the competition is stable. The bank also mentioned that Meituan's Q1 performance in 2024 was better than expected, and the core business trend was more optimistic, mainly due to its more flexible strategies in adjusting subsidies and food-related businesses, on-demand video delivery trade volume, and core local revenue.
Meituan spent HKD500 million to repurchase 4.3278 million shares on June 14th.
Meituan-W (03690) announced that on June 14, 2024, the company spent HKD 500 million to repurchase 4.3278 million shares at a repurchase price of HKD 114-117.9 per share.
Express News | Meituan Bought Back 4.3 Mln Class B Shares for HK$499.9 Mln on June 14 - HKEX Filing
Meituan-W (03690) spent HKD 500 million to repurchase 4.3278 million shares on June 14th.
Meituan-W (03690) announced that on June 14, 2024, the company will spend HKD 500 million to repurchase 43...
Shen Nanpeng has retired as a non-executive director of Meituan-W (03690).
Meituan-W (03690) announced that Shen Nanpeng will resign from the position of non-executive director due to other work arrangements after the shareholder's annual meeting.
NanShui Corporation continued to expand its influence by acquiring Foxconn Industrial Internet for more than 400 million yuan, while BeiShui Corporation bought BYD Company Limited and China National Offshore Oil Corporation.
Northbound capital sold a net amount of 6.306 billion yuan in A-shares, while southbound capital bought a net amount of HKD 3.998 billion in Hong Kong stocks.
Express News | Meituan Bought Back 4.4 Mln Class B Shares for HK$499.9 Mln on June 13 - HKEX Filing
Meituan-W (03690) spent approximately HKD 500 million to repurchase 4.3513 million shares on June 13th.
Meituan-W (03690) announced that it will repurchase 4.3513 million shares for about HKD 500 million on June 13, 2024.
[Brokerage Focus] Dongxing Securities maintains its 'strongly recommended' rating for Meituan (03690), expecting further improvement in its new business operation efficiency.
According to Dongxing Securities, Meituan's (03690) performance announcement shows that in Q1 2024, the company achieved revenue of 73.28 billion yuan (yoy + 25.0%) and net income of 5.37 billion yuan, with a profit of 3.36 billion yuan in the same period last year, and an adjusted net profit of 7.49 billion yuan, with a profit of 5.49 billion yuan in the same period last year. The bank pointed out that the company launched brand satellite stores, expanded the range of good meal business, improved the godly marketing strategy, and made the annual transaction users and transaction frequency of online food delivery significantly increase; Meituan Flash Purchase accelerated the penetration rate of online food delivery users, driving user experience and purchase.
HK Stocks Jump | Meituan-W (03690) surges more than 3%, $2 billion buyback plan shows confidence in development, Goldman Sachs points out its strong earning visibility.
Zhixun Finance learned from the APP that Meituan-W (03690) rose more than 3%, and as of the time of publication, it rose 3.2% to HKD 116.2, with a turnover of HKD 2.933 billion. In terms of news, after announcing a $1 billion buyback plan at the end of November last year, Meituan has announced another large buyback plan. The company recently announced that the board of directors has resolved to repurchase the B-class ordinary shares of the company not exceeding a total amount of US$2 billion on the open market from time to time in accordance with the share repurchase authorization approved by the shareholders' meeting on June 30, 2023. The company will repurchase the shares subject to compliance with relevant regulations. Furui believes that the group's announced 20
Meituan spent approximately HKD 500 million on June 12 to repurchase 4.3953 million shares.
Meituan-W (03690) announced that it will spend about HKD500 million to repurchase 4.3953 million shares on June 12, 2024, with a repurchase price of HKD112.5-116.6 per share.
Meituan-W (03690) spent about HKD 500 million to buy back 4.3953 million shares on June 12th.
Meituan-W (03690) announced that it will spend approximately HKD 500 million to repurchase 439... shares on June 12, 2024.
Express News | Meituan Bought Back 4.4 Mln Class B Shares for HK$500 Mln on June 12 - HKEX Filing
Hong Kong Stocks Falls Below 18,00 Mark as Domestic Demand Conditions Worsen
Hong Kong stocks fell below the 18,000 mark for the first time in the last two months following worrying Chinese inflation data reflecting tepid domestic demand conditions. China saw a weaker-than-exp
Brokerage Focus: Western Securities maintains a "buy" rating on Meituan (03690) and is bullish on the company's long-term improvement in industry penetration rate and operational efficiency.
Western Securities released a research report stating that Meituan (03690) achieved a revenue of 73.3 billion yuan in 1Q24 (+25.0% YoY) vs. the expected 69 billion yuan, and a net income of 7.5 billion yuan after adjustment (+36.4% YoY) vs. the expected 5.8 billion yuan. Both revenue and profits exceed expectations. The company's new business revenue in 1Q24 was 18.7 billion yuan, up 18.5% YoY. The operating loss rate was 14.8%, a decrease of 17.2% YoY, mainly due to Meituan's preferred business strategy emphasizing on improving operation and high-quality growth, including improving commercial services during the Chinese New Year.
Meituan Launches $2 Billion Share Buyback Plan
Meituan (HKG:3690) plans to buy back class B ordinary shares worth up to $2 billion, according to a Tuesday filing with the Hong Kong Exchange. The shares will be repurchased in the open market, the f
[Brokerage Focus] Pu Yin International raised Meituan's target price to HKD 121, and expected Meituan Youxuan to continue narrowing its losses.
Jingu Wealth News | PU Yin International released a research report, Meituan (03690) had a Q1 2024 revenue of RMB 73.3 billion, a year-on-year increase of 25%, higher than the market's expected 6.2%; Adjusted net income of RMB 7.5 billion, 29% higher than the market's expected, with an adjusted net profit margin of 10.2% (9.4% in Q1 2023 and 5.9% in Q4 2023). The new business reduced losses significantly, while the core business profit increased slightly by 2.7%. In addition, the company spent a total of USD 920 million on share buybacks from January to May (announced a USD 1 billion buyback plan in November last year). It is recommended to continue to follow up on future updates. The bank pointed out that the company's new business
Brokerage Focus: China Securities Co., Ltd. maintains its "buy" rating for Meituan (03690) and expects Meituan Select to gradually reduce losses this year.
According to research reports by China Securities Co., Ltd., Meituan (03690) achieved total revenue of RMB 73.276 billion and net income of RMB 7.488 billion on a Non-GAAP basis in the first quarter of 2024, a year-on-year growth of 25% and 36% respectively. Both revenue and profit exceeded expectations. Due to the low base effect, the growth rate of takeaway orders achieved high-speed growth, while the revenue growth was lower than the growth rate of order quantity, and the profitability maintained resilience. The flash purchase continued to show strong growth, and the GTV of in-store travel achieved high-speed growth, with the profit margin improving compared to the previous period. In the long term, the impact of Douyin on Meituan's local life business is limited, but competition is expected.