MSMTUAN@EP2701B

$MEITUAN(03690.HK)

🚀 Meituan Q2 2026: A Clear Turnaround! (Snapshot performance )

Meituan delivered a much stronger Q2 than expected and it is back in profit! 📈

📊 The Numbers:

• Revenue: RMB 104.6B,up 14.4% YoY, beating consensus by 3–4% ✅

• IFRS Net Profit: RMB 2.16B, swung from expected loss to profit!

• Adjusted Net Profit: RMB 2.5B, up 69% YoY 🎯

🔥 Core Local Commerce Shines:

Operating profit jumped to RMB 5.67B (7.9% margin), turning around from a RMB 2B loss in Q1.

New Initiatives also improved: revenue up 25% to RMB 33.1B, while operating loss narrowed 17% QoQ.

This suggests the subsidy wars may finally be cooling! ⚖️

⚠️ But Not Time to Celebrate Yet:

KeeTa & Xiaoxiang are still burning cash. Overseas profitability, delivery unit economics and sustainable margins remain unproven. 🤔

💡 Bottom Line: Clear earnings inflection but sustainability is the real test. Watch management’s guidance on competition, overseas expansion and profitability closely!

Is Meituan finally turning the corner? 📈👇

Not financial advice. Do your own DD😉

Today’s a huge earnings day for three major Chinese players: BYD, Miniso, and Meituan!

Anyone keeping a close watch on these results? 👀

Since the open, Alibaba rallied sharply. Beyond a broad rebound in HK stocks, the main catalyst was Alibaba's freshly released Q2 results preview, which included several positives; details below:

1) E-com remains the laggard, with CMR expected to decline by a high-single-digit % YoY; excluding changes in revenue recognition scope, it should be flat to slightly up YoY. Profit is expected to dip slightly YoY.

$Alibaba(BABA.US) $BABA-W(09988.HK)

Looks like even an MOU and peace deal amounts to nothing when there are just people who don’t care. Hope peace prevails.

This charade has been going on far too long. There is only so much that the AI trade can carry the market as we move along.

After climbing and pulling back last week, the Singapore stock market may see another adjustment this week.

The situation of the Israel-Palestine conflict has not improved yet. Will there still be opportunities for oil and gold prices? Let's continue to observe this week.

AI chip trade still has plenty of room to run as demand for AI infrastructure keeps growing around the world. Continued spending by hyperscalers and increasing enterprise AI adoption should provide strong support for leading semiconductor companies. Valuations already stretched, future gains will likely depend on companies delivering strong earnings and guidance rather than AI excitement alone

sti index hit all time high 5212 on 18 June 2026.

It achieved this ATH despite the summer world cup lull, that's really commendable. sg market must be looking attractive to the global investors, trend shows up once world cup round of 24 comes around. more good days to come.

And as expected, the US-Iran Peace agreement is once more at stake when the market is closed. I'm not surprised at this point, and with Warsh's hawkish stance on his first FED meeting, the macro concerns have been piling up and putting pressure on the equities. Tech names are selling off the most, while certain staple sectors are still doing decently.

$Lion-OCBC Sec HSTECH S(HST.SG)

Ticket: HST (SGX)

Index Tracked: Hang Seng Tech Index (30 largest HK-listed China tech companies)

Top exposures: Tencent, Alibaba, Meituan, Xiaomi, JD, NetEase, SMIC

Structure: HST is a pure CN new-economy/platform -tech + AI + EV supply chain proxy

Key cyclical drivers:

(1) Fed easing -> weaker USD -> global capital flow into HK/China assets; if USD doesn't weaken -> capital stays in US assets & HST rallies tend to fail/stall

(2) Earnings normalisation after deep margin compression

(3) CN tech trading at much lower multiples -> Valuation gap Vs US tech remains wide

Outlook:

Near term - consensus is that Fed easing is off the table but earnings has some positives (e.g. Tencent). A large green candle with relatively high volume on 2 June is a promising sign for a possible reversal but we have to see if prices can hold for the next few session.

I am currently holding/accumlating this as a satellite growth allocation, pending re-rating/mean reversion of the Chinese tech.

The AI hardware hype is in the early stages. Expect a few new multi trillion dollar companies, and even maybe replace the MAG7. Don't get levy behind!