BIMTUAN@EC2608B

Meituan CEO Wang Xing States Company Will Resolutely 'Resist Involution' and Focus on Tech Innovation

China's SAMR Holds Symposium on Fair Competition with Companies Including Meituan

Meituan reported widened adjusted EBITDA loss last year and last quarter

Meituan Reports Fourth Quarter and Full Year 2025 Losses

Meituan's Q4 2025 Sales Costs Increased by 23.5% to 6.8 Billion Yuan

Meituan's Core Local Commerce Revenue Decreases to 6.48 Billion Yuan

Meituan Faces Intense Industry Competition

Meituan Reports Fourth Quarter Earnings, Net Loss for the Year at 2.336 Billion Yuan

Meituan's full-year revenue in 2025 reached 364.85 billion yuan

Meituan to Announce Fourth Quarter and Full Year 2025 Financial Results Today After Hong Kong Market Close

Meituan's stock price soars as Chinese regulators signal a potential end to the food delivery price war

Meituan Kuailv Cooperates with Front-End Warehouses at the Place of Origin to Explore a New Pattern of Agricultural Product Production and Sales

Meituan Expected to Report a Loss of 23.8 Billion in 2025

Beijing-Tianjin-Hebei flower viewing season kicks off, Meituan provides guides

Meituan's rider apps debut indoor floor-level positioning on HarmonyOS

Meituan apologizes for its app abnormally deleting users' phone photos and videos

Meituan Executive: Chinese Consumers Are Pioneering the Use of AI to Explore Global Cuisine

Meituan-Dianping Overseas Food Pages Views Increased by Nearly 20% During Spring Festival

Meituan Expected to Narrow Losses, Market Awaits Profitability

Meituan Releases and Open-Sources Video Generation Model LongCat-Video-Avatar

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CEO Wang Xing explicitly stated "resolutely oppose involution" and will actively withdraw from low-efficiency price wars. Meituan is fully advancing AI, has opened its AI assistant "Xiao Tuan" to all users, and is committed to building a "super AI gateway" for local life. In terms of overseas expansion, the Saudi market is expected to achieve its first profitable month by the end of this year, and the company guidance indicates that the overall loss for new businesses in 2026 will not exceed that of last year

- Meituan is navigating unprecedented competition while focusing on AI reconstruction in the physical world and accelerating its global expansion through KeeTa.  
- In the Q4 2025 earnings call, Meituan's Chairman and CEO Wang Xing highlighted a steady revenue growth of 4.1% year-on-year, alongside a robust strategy against industry "involution" and a commitment to high-quality growth.  
- The firm plans to acquire JD's retail assets to enhance supply chain capabilities and expand its immediate retail services, confident in sustaining and expanding its market leadership amid regulatory scrutiny.

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Meituan Conference Call: "Resolutely Oppose Involution," "Not Rushing to Be a 'Token' Factory," KeeTa Expected to Profit in Saudi Arabia

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Meituan 4Q25 First Take: With the prior profit warning, losses under GAAP for Core Local Commerce and the group were largely flagged, so the headline print was broadly in line. That said, underlying profitability still came in a bit below expectations. In detail, two points stand out. See below. 1) First, by segment. Losses in new initiatives were ~RMB 1.2bn above expectations. 2) On costs and expenses, GP clearly missed while OP roughly matched forecasts. This is because non-operating items booked within OP this quarter, including changes in financial asset values and other gains/losses, totaled ~RMB 2.2bn, distorting the true profit picture. On a core OP basis (GP minus S&amp;M, R&amp;D and G&amp;A), the quarter posted a loss of ~RMB 18.3bn. Compared with ~RMB 19.0bn in the prior quarter, the narrowing was actually very limited. In other words, on an underlying basis, most of the improvement in Core Local Commerce was offset by losses in new initiatives. As for key metrics, Core Local Commerce revenue decline narrowed from ~3% YoY last quarter to 1% YoY, and marketing spend fell by ~RMB 2.5bn QoQ; these align with the industry-wide pullback in food delivery spending and losses, and were broadly in line with expectations, with nothing particularly noteworthy. $MEITUAN(03690.HK) $Meituan(MPNGY.US) $MEITUAN-WR(83690.HK)

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- China's market regulator, the State Administration for Market Regulation, stated its plans to regulate destructive price wars during a meeting with major firms.  
- The regulator aims to enhance anti-monopoly regulation and offer more support for companies seeking international expansion.  
- Participating companies included CATL, BYD, Meituan, Chery Automobile, DiDi Global, China Minmetals, and China State Construction Engineering Corporation.

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China to tighten controls on price wars, boost support for overseas expansion

- Chinese food delivery leader Meituan reported a second consecutive quarterly loss, with revenue growth falling slightly short of estimates.  
- The company's revenue for the quarter ended December 31 was 92.1 billion yuan, a 4.1% increase from the previous year, while its adjusted net loss narrowed to 15.1 billion yuan.  
- Recent trends suggest the competitive "instant retail" price war may be easing, following a state media editorial urging an end to the price wars, which has been viewed as regulatory support.

Meituan posts another quarterly loss as food delivery wars bite

In the fourth quarter of 2025, Meituan's revenue was 92.1 billion yuan, a year-on-year increase of 4.1%, with an adjusted loss of 15.1 billion yuan, which was below market expectations. The annual net loss was 23.355 billion yuan, with revenue of 364.855 billion yuan, a year-on-year growth of 8.08%. The losses in the takeaway sector were significantly lower than competitors, with a market share exceeding 60%. Sales costs and marketing expenses increased significantly, amounting to 68 billion yuan and 31.7 billion yuan, respectively, mainly due to rider subsidies and overseas business expansion. The group did not declare a final dividend, with a loss per share of 3.84 yuan

- Meituan (3690) reported a revenue of 92.1 billion yuan in Q4 2025, a 4.1% year-on-year increase, but an adjusted loss of 15.1 billion yuan fell short of expectations.  
- Total annual revenue reached 364.855 billion yuan, growing 8.08% year-on-year, while reflecting a significant adjusted loss, contrasting with profits from the previous year.  
- To counter intense competition, marketing expenses surged, and Meituan plans to enhance its core local business, focusing on technology and AI integration to drive future growth.

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Meituan adjusted its loss to RMB 15.1 billion last quarter, which was below expectations, indicating that its food delivery losses are far lower than its competitors, with a market share of over 60%

Meituan turned from profit to loss last year, losing 23.355 billion yuan

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Meituan turned a profit into a loss last year, losing 23.355 billion yuan

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Meituan reported an adjusted EBITDA loss of 13.783 billion RMB for last year, with an adjusted EBITDA loss of 14.025 billion RMB in the last quarter

Global X E-commerce ETF

Meituan reported an adjusted EBITDA loss of 13.783 billion RMB for last year, with an adjusted EBITDA loss of 14.025 billion RMB in the last quarter

Meituan's fourth-quarter revenue was 92.10 billion yuan, slightly higher than the estimated 92.08 billion yuan; adjusted net loss was 15.08 billion yuan. Full-year revenue was 364.85 billion yuan, lower than the estimated 366.13 billion yuan; full-year net loss was 23.36 billion yuan, better than the estimated 24.11 billion yuan

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0326 | Dolphin Research Focus: 🐬 Macro/Industry 1) Data show U.S. import prices rose 1.3% MoM in Feb, beating the 0.5% consensus and marking the biggest increase since 2022, driven by higher fuel and rising import costs for AI-related semiconductors and computers. The print signals a clear pickup in imported inflation, with signs of a second leg up, and higher import costs are likely to pass through to consumer prices. On the same day, Fed Governor Michael Barr said rates will stay on hold until there is sustained progress toward 2% inflation...

SpaceX IPO Push: Latest Update; GOOGL Unveils AI Memory-Compression Game-Changer | Daily News Recap

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The Hang Seng Index closed at 24,856 points, down 479 points or 1.9%. The Hang Seng Tech Index reported 4,761 points, down 161 points or 3.3%. The total market turnover was HKD 261.662 billion. Alibaba fell 4.6%, Ping An dropped 3.8%, and Meituan decreased by 3.7%. Other heavyweight stocks such as Tencent, Kuaishou, and POP MART also experienced varying degrees of decline

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According to the "All-Day Express," the Hang Seng Index fell by 479 points; the Hang Seng Tech Index dropped by 161 points. Alibaba fell by over 4%, Ping An by over 3%, and Meituan by over 3%. Bank of China, WELLCELL HOLD, and Everbright Environment reached new highs with active trading

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Hong Kong stocks were under pressure during intraday trading on March 26, with the three major indices collectively retreating, led by the Hang Seng TECH Index. The jewelry retail, catering, and internet content sectors saw the largest declines, while POP MART and Kuaishou were actively traded but experienced sharp price drops. Overall market sentiment remains cautious as investors closely monitor Federal Reserve policy directions and economic trends in mainland China

- As of March 26, Hong Kong stocks are experiencing pressure, with major indices retreating after yesterday's highs, reflecting cautious sentiment.  
- The Hang Seng Index reported a drop of 1.86%, while the Hang Seng Technology Index fell by 3.06%, indicating widespread declines in retail and internet sectors due to weakened consumer confidence.  
- Investors are closely monitoring U.S. Federal Reserve policies and domestic economic growth, influencing market dynamics and liquidity concerns moving forward.

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Hong Kong Stocks Intraday | Hang Seng Index Down 1.86%, POP MART Drops Over 11%

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The short selling amount in the Hong Kong stock market reached HKD 24.81 billion in half a day, accounting for 21.3% of the total shortable shares traded. The main shorted stocks include POP MART with a short selling ratio of 27.4% and a short selling amount of HKD 2.72 billion; TRACKER FUND with a short selling ratio of 32.2% and a short selling amount of HKD 1.82 billion; MEITUAN-W with a short selling ratio of 29.7% and a short selling amount of HKD 1.68 billion; KUAISHOU-W with a short selling ratio of 26.4% and a short selling amount of HKD 1.63 billion; and XIAOMI-W with a short selling ratio of 39.4% and a short selling amount of HKD 1.45 billion

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The short selling in the Hong Kong stock market for half a day was HKD 24.81 billion, accounting for 21.3% of the total turnover of shortable stocks

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Morgan Stanley released a report stating that competition in the food delivery industry is becoming more rational, with both Alibaba and Meituan receiving "Overweight" ratings. Alibaba is expected to gradually narrow its losses, aiming to achieve a transaction volume of RMB 1 trillion in its local services business by fiscal year 2028 and to turn profitable in fiscal year 2029. Meituan maintains a strong market share in the food delivery sector, with profit warnings for 2025 expected to outperform market expectations. Overall, regulatory measures and profit roadmaps will help improve the competitive environment

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Morgan Stanley: Competition in the food delivery industry is becoming rational, rating Meituan and Alibaba as "Overweight"

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It’s good that the sustainable fuel tax is delayed amid this oil crisis. Hope the war will end by Oct.

🇺🇸🇭🇰🇸🇬 Big moves across US, HK, SG markets. Join the chat &amp; earn Task Coins!

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☕️ Daily Market Talk | March 26, 2026

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Iran rejects US ceasefire plan — triggering increased oil volatility and exacerbating US dollar exchange rate fluctuations. Investment should still focus on hedging.

I believe US and IRAN are talking, it's just question of will they iron out their differences. Both have nothing to gain as the war continues...

The google report on memory stocks is classic Jevons paradox. Market perceives it as less memory needed= less demand. But the efficiency gains may actually expand AI use cases and total compute demand. Total demand might actually increase! Technically, if the recent lows hold, which they are despite the pull back, it can still be counted as the second wave of the fifth wave. So I am expecting a bounce pretty soon and a rally to new highs once smart money has collected enough.

wondering how much is SpaceX ipo price. hope to join into bandwagon

Oil spikes on geopolitics tend to overshoot, and with fuel uncertainty still high, this is a pure volatility tradeAI demand is still compounding history shows innovation expands usage,not kills itSpaceX IPO will likely ride strong FOMO from both retail and institutions, but aggressive valuation and heavy capex mean discipline matters more than hypeVolatility trade,keep tight stop loss

$MEITUAN(03690.HK) Meituan Set to Report Q4 &amp; Full-Year 2025 Earnings — All Eyes on Core Local Commerce Pressure Revenue OutlookQ4 revenue is expected at RMB 92.1 billion, up ~5% YoY, with full-year revenue around RMB 380 billion — growth slowing amid fierce competition.Core food delivery orders are projected to grow 7–10%, while Flash Purchase (instant retail) is expected to deliver over 20% growth, helping offset weakness in the in-store, hotel, and travel segments.New businesses — including Keeta's overseas expansion and community group buying — are forecast to contribute RMB 25–28 billion, though subsidies continue to weigh on gross margin. Profit OutlookA full-year net loss of RMB 23.3–24.3 billion is expected, swinging from profit to loss. The core local commerce segment is estimated to post an operating loss of RMB 6.8–7.0 billion, driven by a sharp rise in ecosystem investments amid intensifying competition.Adjusted net profit for Q4 is expected to show a loss of RMB 1.0–1.5 billion, following the RMB 16 billion loss recorded in Q3.If subsidy pressure persists, gross margin could dip below 15%, potentially delaying the profitability recovery timeline. Core Business BreakdownFood delivery remains resilient, holding over 60% market share with strong user stickiness — though price competition is squeezing margins to historic lows.Flash Purchase &amp; on-demand retail are scaling fast, hitting 20 million daily orders and surpassing 500 million transacting users, positioning it as a key growth driver.New businesses have narrowed losses to under RMB 1 billion. Keeta's overseas expansion and supermarket global expansion show long-term promise, though they remain a near-term drag.Bull vs. BearBear case: Intense competition (e.g., aggressive subsidies from Douyin) is eroding core profitability — a trend that looks hard to reverse. The stock is already down 22%, wiping out billions in market cap. Caution advised near term.Bull case: Meituan's moat remains intact — 800 million users, strong logistics network, and algorithm advantage. Flash Purchase penetration plus overseas expansion could unlock long-term value. A re-rating may follow once the competitive landscape stabilizes.My PlayAs a Hong Kong trader, I'm staying neutral for now. I'll look to build long positions in batches after Q4 results confirm a bottom in losses, with a stop at HKD 75.For those trading options (US/HK listed), selling out-of-the-money puts (strike HKD 70) could be a way to collect premium — targeting 5–8% returns, with position size capped at 10% of the portfolio for risk control.

SpaceX IPO definitely exciting. I’ve been following this company since many years ago, and finally Elon decided to take it public. It has shown its effect on all aerospace-related stocks.

BIMTUAN@EC2608B(25814.HK)

BIMTUAN@EC2608B Stock Performance Chart

Meituan Conference Call: "Resolutely Oppose Involution," "Not Rushing to Be a 'Token' Factory," KeeTa Expected to Profit in Saudi Arabia

China to tighten controls on price wars, boost support for overseas expansion

Meituan posts another quarterly loss as food delivery wars bite

Meituan adjusted its loss to RMB 15.1 billion last quarter, which was below expectations, indicating that its food delivery losses are far lower than its competitors, with a market share of over 60%