Market Insight | Meituan-WR rises by over 3% again, first-quarter performance announcement imminent, BofA optimistic about core business profit growth

Meituan-W rose by over 3% again. As of the time of publication, it rose by 3.21% to HKD 112.5, with a turnover of HKD 12.36 billion. On the news front, Meituan is set to announce its first-quarter performance for 2024 on June 6 (this Thursday). According to a report from Bank of America, it is estimated that in a situation where market competition is stabilizing, Meituan's performance in the first quarter is generally in line with expectations, and both quarterly and full-year core business profits are expected to increase. Bank of America predicts that Meituan's first-quarter revenue will increase by 20% year-on-year to 70.5 billion yuan, with core business operating profit expected to reach 8.6 billion yuan