Meituan 1Q24 Results: On-demand Delivery Growth to Normalize in 2Q
What’s new: Meituan’s reported 1Q24 results that top consensus and our expectations. On-demand delivery order volume growth could decelerate in 2Q as comps start to normalize. Meituan Select operating losses could further narrow in 2Q. We maintain our PT at HKD200.Analysts:
Jin Yoon
MEITUAN DIANPING is a China-based e-commerce platform providing life services. The Company connects consumers and businesses to provide services satisfying people's daily eating needs. The Company owns an instant food ordering and delivery brand, Meituan, as well as provides services through its mobile application, Meituan. The Company is also engaged in the operation of a bike-sharing brand, Mobike.
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