BIMTUAN@EP2702A

Meituan Q2 2026 First Take: At first glance, results looked strong. Revenue came in slightly above expectations, with a bigger surprise on profits vs. Bloomberg consensus.Both core local commerce and group OP beat by over RMB 2bn. Initial take: profit recovery is tracking better than expected.

On the one hand, Dolphin Research believes Meituan is firmly on a recovery path. With the food-delivery price war fading, both growth and profitability are improving.The local commerce segment also swung to profit this quarter, and not by a small margin.

However, we would caution that the headline profit lacks quality. The quarter booked over RMB 3bn in other gains from shutting down Select and other investments.Excluding this, group OP was still hovering around breakeven.

Also, while most metrics beat Bloomberg consensus, they were merely in line with top-tier houses such as Goldman Sachs. In short, the recovery is real, but not as stunning as it first appears.$MEITUAN(03690.HK)

$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.