GJMTUAN@EP2610B

Morgan Stanley Maintains 'Buy' Rating on Meituan

Meituan launches "Weekend Dine-in" campaign, offering half-price coupons to boost spring dining consumption.

JPMorgan Releases Report on Meituan

Meituan data shows a 361% year-over-year increase in culture and tourism bookings for the 'Sanyuesan' holiday in Guangxi.

Reports Indicate Meituan is Actively Expanding into the 'Pet Economy' to Seek New Growth Points

Meituan, along with other tech giants, co-invests in robotics company Unitree Technology

Meituan delivery driver jumps into a manhole to rescue a fallen boy

Meituan's Black Diamond Member Event Attracts Market Attention

Meituan Releases "Unified Vision-Language" Technology to Enhance AI's Image Recognition and Dialogue Capabilities

IDG Capital and Meituan Jointly Invest in Shanghai Dongnian Yongxian Technology Co., Ltd.

Following Xianyu's example, Meituan begins to support users in running 'side businesses'

Fitch Adjusts Meituan's Outlook to Negative

Three departments guide platform companies on price behavior rules, prohibiting false subsidy promotions

JD.com launches "Gourmet Group Buying", potentially intensifying competition in the local life services sector

Meituan CEO Wang Xing showcases drone delivery technology

China's Cyberspace Administration emphasizes advancing key cyberspace legislation

The instant retail war enters deep waters as SF Intra-city achieves double growth

Meituan Proposes New Narrative: Building a Physical AI Foundation

KMT Chairwoman Cheng Li-wun visits Meituan's Shanghai headquarters, experiences drone delivery

First Shanghai lowers Meituan's target price to HK$128, maintains 'Buy' rating

SOMERLEY CAP

SAMPLE TECH

CH FRONTIER TEC

CHINA FORTUNE

MOG DIGITECH

WANJIA GROUP

YOUZAN

PINESTONE

NEW VISION CO

LUXXU GROUP

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In early trading, the large financial sector rose, with NANHUA FUTURES hitting the daily limit, CITIC SEC rising over 8%, and EASTMONEY, HTSC, INDUSTRIAL SECURITIES, GF SEC, Yinzhijie, and ROYALFLUSH INFO gaining over 5%. The lithium battery supply chain rallied with volatility, with GOTION and Xinyuren hitting the daily limit, while Canmax Technologies, Great Power, Desay Battery, NARADA, and Dynanonic followed suit

- On April 10, A-shares opened high with the Shanghai Composite Index recovering above 4000 points, while the ChiNext Index gained over 2%, led by strong performances in the battery, brokerage, and semiconductor sectors.  
- Hong Kong stocks also rose, with the Hang Seng Index increasing by over 2%, particularly driven by a rebound in tech stocks.  
- In the bond market, government bond futures showed mixed performance, while commodity futures displayed varied results, with some metals and lithium carbonate prices rising.

Wallstreetcn

CITIC SEC

Desay Battery

NARADA

CITIC Securities Co., Ltd.

HTSC

GF SEC

Canmax Technologies

NANHUA FUTURES

GOTION

ROYALFLUSH INFO

EASTMONEY

INDUSTRIAL SECURITIES

Xinyuren

Great Power

Yinhua CSI All Share Investment Banking & Brokerage ETF

MEITUAN

Shanghai Composite Index recovers 4,000-point mark, ChiNext rises over 2%, brokerages explode, lithium battery supply chain rallies, HSTECH rises over 2%, tech stocks rebound

MPNGY

JP Morgan maintains a "Neutral" rating on Meituan, with a target price of 85 yuan. The report points out that the mainland government's restrictions on takeaway subsidies have sparked discussions about Meituan's prospects. Despite the presence of regulatory factors, the profitability of takeaway services remains highly uncertain. Meituan's profitability relies on order quality, with orders above 30 yuan being profitable, while orders below this price lead to losses. Assuming market share drops from 75% to 50%, the operating profit per order may actually be higher

AASTOCKS

Meituan

JP Morgan maintains a "Neutral" rating on Meituan, with a highly uncertain long-term outlook for food delivery

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As of the market close, the three major indices of the Hong Kong stock market all fell back, failing to continue yesterday's rebound momentum. The Hang Seng Tech Index dropped more than 2%, giving back some of yesterday's gains, with the overall market showing a narrow fluctuation pattern of high-level retreat. On the market, small-cap technology and thematic stocks performed exceptionally actively, as funds deeply participated in structural opportunities amid the weakness of heavyweight blue chips. Stocks such as Hengyi Holdings, EDA Group Holdings, and XunCe surged against the market trend, reflecting that the market's short-term preference has shifted towards high elasticity and high volatility growth sectors

- On April 9, Hong Kong stocks experienced a decline across all three major indices, reflecting weak market sentiment, with the Hang Seng Index closing at 25,752.40, down 0.54%.  
- Notable movements included a sharp increase in small-cap tech stocks, particularly Hengyi Holdings, which surged 136.84%, driven by speculative trading and sector interest.  
- The market remains influenced by external economic data and investor sentiment regarding economic recovery, suggesting both opportunities and volatility risks ahead.

LB Select

HANG YICK HLDGS

EDA GROUP HLDGS

XUNCE

HING LEE (HK)

GALAXIS TECH

TENCENT

BABA-W

YOFC

XIAOMI-W

SINOTRUK

POP MART

CNOOC

BYD COMPANY

SMIC

Hong Kong stock market closing | The Hang Seng Index closed down 0.54%, the Hang Seng Tech Index retreated over 2%, small-cap thematic stocks surged across the board, and Hengyi Holdings soared 136%

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XIACY

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BABA

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The Hang Seng Index closed at 25,752 points, down 140 points or 0.5%; the Hang Seng Tech Index reported 4,821 points, down 101 points or 2.1%. The total market turnover was HKD 244.977 billion. Xiaomi Corporation fell over 4%, while Alibaba and Meituan also saw declines. Stocks such as Geely, XUNCE, HAIXI PHARMA, and GOFINTECH QUANT reached new highs with active trading

JOINN

Xiaomi Corporation

GOFINTECH QUANT

Alibaba

HAIXI PHARMA

According to the "All-Day Express," the Hang Seng Index closed at 25,752 points, down 140 points; the Hang Seng Tech Index closed at 4,821 points, down 101 points. Xiaomi Corporation fell over 4%, while Geely, XUNCE, HAIXI PHARMA, GOFINTECH QUANT, and Changfei reached new highs with active trading

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YUMC

Friedman lowered the target price for YUM China to 490.2 yuan, maintaining a "Buy" rating. It is expected that the net profit for the first quarter of 2026 will be 307 million USD, a year-on-year increase of 0.7%, mainly benefiting from a sales growth of 3.9% to 3.2 billion USD. Same-store sales are expected to grow by about 6%. Adjusted net profit forecasts reflect the impact of a 11 million USD loss from Meituan equity investment, while slightly adjusting the profit forecasts for 2026 and 2027

YUM CHINA

YUM China

Credit Suisse lowers YUM China target price to 490.2 yuan, maintains "Buy" rating

TCTZF

PROSF

TCEHY

PROSY

Prosus, a subsidiary of Naspers, reduced its holdings in Tencent by approximately 13 million shares in the first quarter of 2023, valued at about 7.28 billion yuan, without reducing its stake in Meituan. The stock prices of Tencent and Meituan are 511 yuan and 88.8 yuan, respectively, having fallen by 14.7% and 14% this year. Since 2022, Prosus has initiated an unlimited reduction plan for Tencent, aimed at repurchasing its own shares, with funding sources including the reduction of Tencent and the sale of other investments

- Prosus, a flagship internet arm of Naspers, sold approximately 13 million shares of Tencent in Q1 of this year, valued at about 7.28 billion HKD based on an average closing price of 560.16 HKD.  
- In contrast, Prosus did not reduce its stake in Meituan during the same period.  
- Tencent and Meituan's stock prices have declined by 14.7% and 14% respectively this year, while Prosus has aimed to generate funds for share buybacks through the sale of Tencent shares and less promising investments.

Stheadline

Tencent Holdings Limited

Prosus N.V.

Tencent

Prosus, a subsidiary of Naspers, reduced its holdings by 13 million shares of Tencent in the first quarter, without selling any shares of Meituan

.HXC

09626

KBAB

The Nasdaq Golden Dragon China Index initially closed up 3.1%. Among popular Chinese stocks, Pony.ai rose 10.7%, Meituan rose over 9%, Kingsoft Cloud and Tiger Brokers rose over 7%. Atour, GDS, and Bilibili rose over 5%, Alibaba rose 4.6%, WeRide, NIO, Xiaomi, and Pinduoduo rose over 4%, Tencent rose 3.7%. In terms of ETFs, CHAU rose 7.7%, EMXC rose 5.9%, CQQQ rose 5.8%, ASHS rose 5.7%, KWEB rose 3.74%

NASDAQ Golden Dragon China Index

BILIBILI-W

GDS-SW

PONY-W

NIO-SW

WERIDE-W

KINGSOFT CLOUD

KraneShares 2x Long BABA Daily ETF

Direxion FTSE China Bull 3X

Invesco Golden Dragon China

Roundhill China Dragons ETF

iShares MSCI China

Yinhua MSCI China A ETF

Invesco China Tech

KraneShares 2x Long PDD Daily ETF

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After the Easter and Qingming Festival holidays, the Hong Kong stock market resumed trading, with the Hang Seng Index rising 776 points to close at 25,893 points, the National Index up 220 points, and the Hang Seng Tech Index up 244 points. News of a ceasefire agreement between the United States and Iran stimulated the market, with a total turnover of HKD 372.437 billion. Resource stocks performed strongly, with significant increases in gold mining and airline stocks. Meituan and JD.com rose due to the State Administration for Market Regulation's requirement to strengthen food safety responsibilities

JD HEALTH

JD.com

JD-SW

ZHONGJIN GOLD

Agnico Eagle Mines

Newmont

Kinross Gold

SD-GOLD

Direxion Daily Gold Miners Bull 2X

ISHARESHSTECH

Tianhong Hang Seng TECH ETF(QDII)

EFUND GOLD MI-U

Abrdn Gold ETF Trust

iShares MSCI Global Gold Miners

ChinaAMC CSI SH-SZ-HK Gold Industry Equity ETF

HSCEI ETF-R

EFUND GOLD MI ETF

GLOBAL X Gold Explorers

Hang Seng TECH ETF I

CSOP HS TECH

Dacheng Hang Seng Technology ETF(QDII)

Huatai-PB CSOP Hang Seng Technology ETF(QDII)

Pro Ultr GLD

GX HS TECH

iShares Gold Trust

SPDR Gold Shares

ChinaAMC Gold ETF

Sprott JR Gold Miners ETF

Sprott GLD Miners Etf

CAM HS TECH

Direxion Daily Jr Gold Miners Bull 2X

SPDR Gold Minishares

KraneShares 2x Long JD Daily ETF

VanEck Junior Gold Miners ETF

HSTECH ETF

Direxion Daily Gold Miners Bear 2X

Direxion Daily Jr Gold Miners Bear 2X

CSOP HSI ETF

ChinaAMC Hang Seng Technology ETF(QDII)

VanEck Gold Miners ETF

Roundhill Gold Miners Weeklypay ETF

"Hong Kong Stocks" The Hang Seng Index rose 776 points throughout the day, with resource and technology stocks gaining, while pharmaceutical stocks were sold off

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As of the close, the Hong Kong stock main board performed extremely strongly throughout the day, with all three major indices recording significant gains, and market sentiment experiencing a significant recovery. The Hang Seng Tech Index outperformed the market, rising over 5%, successfully reclaiming ground lost in recent adjustments. In the market, technology hardware and communication equipment sectors were particularly outstanding, becoming the core focus for capital inflow for the day. Leading stocks such as ILUVATAR COREX and YOFC saw increased trading volume and led the gains, effectively driving the activity in the domestic AI computing power and optical communication industry chains

- The Hong Kong stock market saw significant gains, with the Hang Seng Index closing at 25,893.02, up 3.09%, recovering above 25,000 points.  
- The technology sector led the rally, particularly Longi Green Energy and Tencent, which rose 18.94% and 3.84%, respectively, driven by strong investor interest.  
- Macro factors such as export data and liquidity improvements influenced market sentiment, with investors showing a preference for growth opportunities despite some sectors experiencing capital outflows.

KUAISHOU-W

IMAGI INT'L

GLOBALSTRAT

TIME INTERCON

ILUVATAR COREX

HSBC HOLDINGS

Hong Kong Stocks Close | HSI Surges 3.09% Back Above 25,800; Tech Hardware Leads Gains, Hang Seng Tech Index Soars Over 5%

STECH

00HSI

BABX

The Hang Seng Index closed at 25,893 points, up 776 points or 3.1%. The Hang Seng TECH Index reported 4,923 points, up 244 points or 5.2%. The total market turnover was HKD 372.437 billion. Major stocks such as Meituan, Alibaba, and Xiaomi Group performed strongly, rising 10.3%, 6.8%, and 6.1% respectively. Other active stocks like Luoyang Molybdenum and SMIC also saw significant increases, with active trading

Hang Seng TECH Index

Hang Seng Index

According to the "All-Day Express," the Hang Seng Index rose by 776 points; the Hang Seng TECH Index increased by 244 points. Meituan rose over 10%, Alibaba rose over 6%, and Xiaomi Group rose over 6%. Changfei, Xunce, Haixi New Drug, Guofu Quantum, and Ganfeng Lithium reached new highs with active trading

GJMTUAN@EP2610B(28142.HK)

GJMTUAN@EP2610B Stock Performance Chart

Shanghai Composite Index recovers 4,000-point mark, ChiNext rises over 2%, brokerages explode, lithium battery supply chain rallies, HSTECH rises over 2%, tech stocks rebound

JP Morgan maintains a "Neutral" rating on Meituan, with a highly uncertain long-term outlook for food delivery

Hong Kong stock market closing | The Hang Seng Index closed down 0.54%, the Hang Seng Tech Index retreated over 2%, small-cap thematic stocks surged across the board, and Hengyi Holdings soared 136%

According to the "All-Day Express," the Hang Seng Index closed at 25,752 points, down 140 points; the Hang Seng Tech Index closed at 4,821 points, down 101 points. Xiaomi Corporation fell over 4%, while Geely, XUNCE, HAIXI PHARMA, GOFINTECH QUANT, and Changfei reached new highs with active trading

Credit Suisse lowers YUM China target price to 490.2 yuan, maintains "Buy" rating