New Street Research - Meituan (MEITUA) Meituan 4Q23 Results: Meituan Select to Meaningfully Scale Down Losses in ‘24

Report

New Street Research

Jin Yoon

Meituan 4Q23 Results: Meituan Select to Meaningfully Scale Down Losses in ‘24

What’s new: Meituan’s reported 4Q23 top line results top consensus and our expectations. Food delivery growth could remain resilient, while New Initiatives could maintain healthy growth in FY24 partly due to scale down in subsidies related to Meituan Select. We maintain our PT at HKD200.

Analysts:
Jin Yoon

25/03/2024 1 EN

Underlying

Meituan

See profile

Provider

New Street Research

Provided by our team of experienced analysts, our work is idea driven, based on independence of thought, sector expertise, and firmly focussed on fundamentals and valuation.

New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:

Pan European Telecom Services and Cable
US Telecoms, Cable, Satellite and Towers
Global Emerging Market Telecoms
Japan Telecoms
Asian Internet
Pan European Healthcare
Global healthcare thematic research

We provide debt research on:

Pan European Telecom Services and Cable

See profile

Analysts

Jin Yoon

Other Reports on these Companies

New Street Research

Meituan 2Q24 Results: Overall Business Remain Resilient in 2H

What’s new: Meituan’s reported 2Q24 results that top consensus and our expectations. Overall business could remain resilient where core local commerce rev growth could slightly accelerate in 3Q compared to 2Q levels. Meituan Select operating losses could continue to sequentially narrow in 3Q. We maintain our PT at HKD200. Analysts: Jin Yoon

August 29, 2024 August 29, 2024 1 EN

UOB

Greater China Daily: Friday, July 19, 2024

KEY HIGHLIGHTS Update Hong Kong Exchanges and Clearing (388 HK/BUY/HK$241.40/Target: HK$310.00) June headline ADT declined 12% mom as the market turned cautious ahead of the third plenum meeting. Hence, we revised down our 2Q24 net profit growth forecast to 11% yoy. While the upcoming minimum spread review is expected to boost the headline ADT in the long term, the outcome of the third plenum meeting and the upcoming Fed rate cut cycle are likely to be the key near-term drivers of market sentiment and trading turnover. Maintain BUY. Target price: HK$310.00. Inner Mongolia Yili Industria...

July 19, 2024 July 19, 2024 1 EN

New Street Research

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

June 7, 2024 June 7, 2024 1 EN

SATS, Carr, and the Art of the No Deal…Yet

SATS just filed a new 8-K saying it will make the interest payments on Monday, avoiding a Chapter 11 filing. Our New Street colleagues have published a note today with their perspective. In this note we describe the filing and its implications.

EUR 8533.00

15h / 30m 15h / 30m 1 EN

Blair Levin

Blair Levin

Supreme Court Upholds USF Framework but Reform Still Ahead

Today, the Supreme Court issued its opinion in the case challenging the legality of Universal Service Fund (USF) framework. As we had predicted, the Court upheld the current framework. In this note we analyze the implications of the decision for the USF reform efforts ahead in the Congress and FCC.

EUR 8533.00

15h / 32m 15h / 32m 1 EN

Jonathan Chaplin

Jonathan Chaplin

CMCSA quick hit: Comcast continues to make the right pricing moves

After launching 5-year price guarantee plans in April, Comcast has now announced some tweaks to plans that are discounted for one year, and to rack rates. These announcements are less meaningful than the 5-year plans, though they continue to inch gradually in the right direction. Our quick thoughts in this brief note.

EUR 8533.00

15h / 37m 15h / 37m 1 EN

Sign-up for free to access full reports immediately

Email Address*

Choose Password* ( 6 or more characters )

Due to regulatory restrictions regarding the distribution of financial research, this report is restricted to a specific region or investor type. Get access to exclusive reports by answering the questions below.

Select your country*

Get financial insights straight to your inbox

By clicking "register" you accept the Terms and Conditions & Privacy Policy

Already on ResearchPool?

Almost there...

Are you a professional investor?

Select your country

REGISTER

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

In order to access this report please create an account.

LOGIN

Meituan 4Q23 Results: Meituan Select to Meaningfully Scale Down Losses in ‘24

Meituan 2Q24 Results: Overall Business Remain Resilient in 2H

Greater China Daily: Friday, July 19, 2024

Meituan 1Q24 Results: On-demand Delivery Growth to Normalize in 2Q

SATS, Carr, and the Art of the No Deal…Yet

Supreme Court Upholds USF Framework but Reform Still Ahead

CMCSA quick hit: Comcast continues to make the right pricing moves

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

Sign-up for free to access full reports immediately

ResearchPool Subscriptions

Get the most out of your insights

Why subscribe?

How to subscribe

ResearchPool Subscriptions

This report is only available to subscribers

Why subscribe?

How to subscribe