---
title: "CICC International: Positive view on Meituan's fundamentals as Mainland consumption policies improve, maintaining an \"outperform the market\" rating"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/216950181.md"
description: "CICC International has adjusted its third-quarter performance forecast for Meituan, expecting revenue to increase by 21% year-on-year to 92.2 billion yuan, with a net profit of 13.4 billion yuan, higher than market expectations. The report points out that Meituan is favored by investors in the technology sector due to its solid performance forecast and competitive advantages. CICC International holds a positive view on the improvement of mainland consumption policies, maintains a \"outperform\" rating on Meituan, and adjusts the target price to 230 Hong Kong dollars"
datetime: "2024-10-16T06:40:31.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/216950181.md)
  - [en](https://longbridge.com/en/news/216950181.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/216950181.md)
---

> Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/216950181.md) | [繁體中文](https://longbridge.com/zh-HK/news/216950181.md)


# CICC International: Positive view on Meituan's fundamentals as Mainland consumption policies improve, maintaining an "outperform the market" rating

CICC International released a report, adjusting its third-quarter performance forecast for Meituan, expecting a 21% year-on-year increase in quarterly revenue to 92.2 billion yuan, in line with the market consensus of 91.9 billion yuan. Adjusted net profit is expected to be 13.4 billion yuan, 14% higher than the market consensus of 11.8 billion yuan. The bank estimates Meituan's core revenue for the quarter to increase by 19.2% year-on-year to 68.8 billion yuan, with an operating profit of 13.6 billion yuan and an operating profit margin of 19.8%. New business revenue is estimated to be 23.5 billion yuan, in line with market consensus, with a loss of 1.8 billion yuan, compared to a loss of 5.1 billion yuan in the same quarter last year. The report points out that Meituan is one of the most popular stocks among investors in the recent surge of technology stocks, due to its solid performance forecast for this year and competitive advantages with a clear investment concept. The bank maintains a "outperform" rating on the stock, with a target price adjusted to 230 Hong Kong dollars

### Related Stocks

- [MEITUAN-WR (83690.HK)](https://longbridge.com/en/quote/83690.HK.md)
- [Meituan (MPNGY.US)](https://longbridge.com/en/quote/MPNGY.US.md)
- [MEITUAN-W (03690.HK)](https://longbridge.com/en/quote/03690.HK.md)

## Related News & Research

- [China to tighten controls on price wars, boost support for overseas expansion](https://longbridge.com/en/news/280611209.md)
- [Citic Securities Keeps Their Buy Rating on Meituan (MPNGF)](https://longbridge.com/en/news/281276580.md)
- [Xpeng Mar deliveries rebound sequentially despite year-on-year decline](https://longbridge.com/en/news/281331957.md)
- [Several Baidu Apollo Go Robotaxis Freeze In China, Raising Concerns About AV Safety: Report](https://longbridge.com/en/news/281345987.md)
- [5 Simple ETFs to Buy With $1,000 and Hold for a Lifetime](https://longbridge.com/en/news/281345615.md)