---
title: "According to \"The Big Bank\" research, Meituan's food delivery losses are expected to peak in the third quarter, with a target price lowered to 114 yuan, recommending a \"buy.\""
description: "HSBC's research report indicates that Meituan's food delivery business losses will peak in the third quarter, with a significant narrowing expected in the fourth quarter. Although the medium to long-t"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/260830427.md"
published_at: "2025-10-13T04:20:52.000Z"
---

# According to "The Big Bank" research, Meituan's food delivery losses are expected to peak in the third quarter, with a target price lowered to 114 yuan, recommending a "buy."

> HSBC's research report indicates that Meituan's food delivery business losses will peak in the third quarter, with a significant narrowing expected in the fourth quarter. Although the medium to long-term operational efficiency is better than peers and the scale of losses remains controlled, the short-term loss forecast has been adjusted upward due to unexpected market investment intensity. It is expected that the operating loss of the food delivery business in the third quarter will reach RMB 20 billion, with a loss of RMB 2.9 per order. The target price has been lowered from RMB 125 to RMB 114, maintaining a "Buy" rating

HSBC Research published a report, continuing to believe that Meituan (03690.HK) will see its food delivery business losses peak in the third quarter of this year and significantly narrow in the fourth quarter. Meituan is expected to maintain better operational efficiency than its peers in the medium to long term, keeping the scale of losses relatively controlled. However, considering that the overall market's investment efforts exceed expectations, the bank has raised its loss forecast, especially in the short term.

The bank stated that due to major competitor Alibaba-W (09988.HK) focusing on maintaining long-term market share and scale in the Quick Commerce business, competition is expected to continue, causing Meituan's food delivery business to take longer to regain profitability. The bank estimates that the operating loss for the food delivery business in the third quarter will reach RMB 20 billion, which translates to a loss of RMB 2.9 per order.

The bank has lowered its profit margin forecast for the total gross merchandise volume (GTV) of the food delivery business for 2025 to 2027 by 0.3 to 0.9 percentage points, reducing the target price from RMB 125 to RMB 114, while maintaining a "Buy" rating

### Related Stocks

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

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.