UB#MTUANRC2611C

DJI Holds 80% Market Share, Meituan Launches New Drone for Low-Altitude Logistics Scaling

Morgan Stanley: Predicts Meituan Q1 Op Loss of 4.3B, Q2 Break-even, Maintains Overweight Rating

Meituan Launches Industry's First AI All-Domain Solution "Claw"

Hang Seng Index Breaks Below 25,000 to Hit Two-Month Low; Meituan Leads Blue-Chip Decline While Chip Stocks Rise

Meituan's XiaoXiang Supermarket Officially Enters Taiyuan, Launching 8 Initial Stations

Meituan Denies Unfounded Rumors of 50% Layoffs in Product Department

Meituan PaoTou Launches 'PaoTou Skill' to Enable Natural Language Ordering via Multiple AI Assistants

Alibaba, Meituan, JD Rumored to Bid for Pupu Supermarket; JD Denies Contact

Tianji Intelligence Completes 1 Billion RMB Series B & B+ Financing, Valued at 8 Billion RMB as Unicorn

Meituan to Release FY2026 Q1 Earnings on June 1 After-Market (BJT), Forecast Revenue HKD 104.48 B, EPS HKD -1.8324

Meituan Opens Source LongCat-Video-Avatar 1.5 Digital Avatar Model, Moving Towards Commercial Applications

Dubai Chamber Signs MOU with KEETA to Boost SME Growth

Meituan Drone Network Launches and Initiates National Authorized Service Provider Recruitment

Meituan Drones Expected to Scale Profitably in 2-3 Years, Night Peak Orders Hit 423

Meituan Drone Orders Exceed 900,000 Ranking Second Globally Behind Zipline

Meituan's self-operated retail business 'Xiaoxiang Supermarket' to launch in Jinan and Qingdao, Shandong in May

BlackRock's Long Position in Meituan-W Decreases to 5.89%

Media focuses on controversy surrounding Meituan due to platform management issues

CLSA forecasts Meituan's Q1 food delivery losses to shrink to 7B, maintains Outperform rating

Media follows up on the progress of paying social security for food delivery riders

JOLIMARK

TIMES UNI GP

APEX ACE HLDG

VPOWER GROUP

GW TIANDI

FUJING HOLDINGS

TEAMWAY INTL GP

SFSY NEW MAT

FDB HOLDINGS

KEEN OCEAN

03690

00HSI

AAGIY

TCTZF

03115

The Hang Seng Index rose 137 points (0.5%) to 25,140, driven by improved risk sentiment following a US-Iran ceasefire extension. Broad-based gains were seen in finance, manufacturing, and tech sectors, with Lenovo surging 19.4%. Other notable movers included Tencent (0.4%), AIA Group (2.3%), and Meituan (0.6%), while Semiconductor Manufacturing and Xiaomi fell 1.7% and 2.4%, respectively.

- The Hang Seng Index increased by 137 points, or 0.5%, to 25,140, recovering losses due to improved risk sentiment after a US-Iran ceasefire extension.  
- This optimism led to broad-based gains in the region, especially in finance, manufacturing, and technology sectors, with Lenovo surging 19.4% amid strong AI-driven demand.  
- Notable moves included gains for Tencent Holdings and AIA Group, while Semiconductor Manufacturing International Corporation and Xiaomi experienced declines of 1.7% and 2.4%, respectively.

Trading Economics

MEITUAN

Hang Seng Index

AIA Group

Tencent Holdings Limited

Lenovo Group

Tencent

HSCEI ETF

ISHARESHSI

FI CSOP HSI

FI2 CSOP HSI

FL2 CSOP HSI

LENOVO GROUP

TENCENT

POP MART

INNOVENT BIO

SMIC

XIAOMI-W

LENOVO GROUP-R

TENCENT-R

Tencent HK SDR 10to1

AIA-R

POP MART HK SDR 20to1

SMIC HK SDR 5to1

Xiaomi Corporation

XIAOMI-WR

Xiaomi HK SDR 2to1

Hong Kong Stocks Rise on Ceasefire Hopes

01347

09992

Southbound funds recorded a significant net purchase of 7.61 billion yuan today. In the Shanghai-Hong Kong Stock Connect, Pop Mart and Meituan-W saw net purchases of 830 million and 600 million Hong Kong dollars, respectively, while Alibaba-W had the highest net sales at 678 million Hong Kong dollars. In the Shenzhen-Hong Kong Stock Connect, SMIC and Hua Hong Semiconductor had net purchases of 3.948 billion and 946 million Hong Kong dollars, respectively, with Alibaba-W again leading in net sales at 625 million Hong Kong dollars.

CoinLive

HUA HONG SEMI

BABA-W

Alibaba

Hua Hong

MEITUAN-WR

Meituan

Meituan HK SDR 5to1

BABA-WR

Alibaba HK SDR 5to1

STOCKS | Southbound Funds Record Significant Net Purchase of 7.61 Billion Yuan

MPNGY

09618

Beijing and Shanghai have launched a joint administrative guidance initiative for food delivery platforms, establishing a framework for food safety governance. The agreement includes measures for data sharing, risk control, and coordinated law enforcement. Key platforms like Meituan and JD Food Delivery are urged to enhance food safety responsibilities. The regulators aim to strengthen oversight and address illegal activities in the online catering sector, with new regulations taking effect on June 1.

- The Beijing Municipal Administration for Market Regulation and Shanghai's regulators signed a cooperation agreement to enhance food safety in third-party online catering.  
- This collaboration includes data sharing, risk control, and joint enforcement measures, promoting a dual-track system for food safety compliance.  
- A joint meeting with major food delivery platforms was held to emphasize the implementation of new regulations, ensuring platforms uphold their food safety responsibilities effectively.

AASTOCKS News

JD-SW

JD.com

JD-SWR

Beijing and Shanghai Jointly Launch Administrative Guidance on Three Major Food Delivery Platforms for the First Time

03037

The HSI fell below 25,000 points, reaching a near two-month low at 24,994, down 1.3% on futures settlement day. MEITUAN-W dropped 5.21%, leading blue-chip losses. Other notable declines included WUXI BIO and AIA, while SMIC and HUA HONG SEMI bucked the trend with gains of 4.225% and 8.005%, respectively.

- US stocks achieved record closing highs amidst ongoing US-Iran negotiations, indicating market resilience.  
- In contrast, the Hong Kong Stock Index (HSI) fell to a near two-month low, closing at 24,994 points, down 333 points or 1.3%.  
- Major losses were seen in companies like Meituan and resource stocks, while SMIC and Hua Hong Semi bucked the downward trend with notable gains.

CSOP HSI ETF

WUXI BIO

WUXI APPTEC

ZIJIN MINING

CMOC

SHK PPT

WuXi Biologics

WuXi AppTec

Zijin Mining

SHK PPT-R

HSI Slips Below 25,000 in Early Session on Futures Settlement Day, Hits Near Two-Month Low; MEITUAN-W  Sinks 5%

The HSI fell 322 points (1.3%) to 25,006, while the HSTI dropped 18 points (0.4%) to 4,888. Notable declines included MEITUAN down 5.7% and TENCENT down 2.2%. Conversely, DONGYUE GROUP, HUA HONG SEMI, LEGENDHOLDING, and KINGBOARD HLDG reached new highs. Market turnover increased to $356.34 billion.

- The Hang Seng Index (HSI) fell 322 points, or 1.3%, closing at 25,006, with notable declines in major stocks like Meituan and Tencent.  
- Market turnover reached $356.34 billion, indicating significant investor activity amid the downturn, while individual stocks showed varying short-selling ratios.  
- Active movements included XPeng and SMIC with gains, contrasting with declines in companies like Hansoh Pharma and Chow Tai Fook.

Hang Seng China Enterprises Index

DONGYUE GROUP

LEGENDHOLDING

KINGBOARD HLDG

HKEX

PING AN

HANSOH PHARMA

XPENG-W

CHINAHONGQIAO

CHOW TAI FOOK

LONGFOR GROUP

HORIZONROBOT-W

CHINA RES MIXC

SBP GROUP

OOIL

JD HEALTH

BEONE MEDICINES

QFIN-S

WELLCELL HOLD

RADIANCE HLDGS

CHUANGXIN IND

GUOFUHEE

HKEX-R

Hong Kong Exchanges and Clearing (HKEX)

PING AN-R

Ping An

Ping An Insurance

JD HEALTH-R

BeOne Medicines

Beigene

Qifu Tech

ZTE Corporation

HSI Down 322 pts; HSTI Down 18 pts; MEITUAN Down over 5%; DONGYUE GROUP, HUA HONG SEMI, LEGENDHOLDING, KINGBOARD HLDG Hit New Highs; Market Turnover Rises

513770

As of May 28, 2026, Hwabao CSI HK Equities Internet ETF (513770) has fallen by 3.68%, with the latest price at 0.366 yuan. MEITUAN-W dropped over 6%, and JD Health and Bilibili-W also experienced declines. The valuation of the Hong Kong stock internet ETF is at a historical low, with the latest price-to-earnings ratio at 19.28 times, indicating a sluggish market state. Institutions believe that the "darkest moment" has passed

- As of May 28, 2026, the Hong Kong Internet ETF, Huabao (513770), fell by 3.68%, with a latest price of 0.366 HKD and a turnover rate of 6.28%.  
- The ETF closely tracks the Hong Kong Stock Connect Internet Index, which includes 30 listed companies involved in internet-related businesses, showing significant weightage in major stocks such as Alibaba and Tencent.  
- The ETF's latest funds reached 8.832 billion HKD, with a recent price-to-earnings ratio of 19.28, indicating historically low valuation levels.

同壁财经

Hwabao CSI HK Equities Internet ETF

A sharp decline of 4%, Hwabao CSI HK Equities Internet ETF (513770) has reached a new low in the downward phase, MEITUAN-W fell over 6%, institutions: "the darkest hour" has passed

The HSI fell 587 points to 24,740, dropping below 25,000, with significant losses in tech stocks like MEITUAN-W, which hit a two-year low. Resource stocks also faced pressure. Notably, KNOWLEDGE ATLAS rose 6% to a new high. US stocks closed at record highs amid ongoing US-Iran negotiations.

- US stocks closed at record highs as markets reacted to US-Iran negotiations, while Hong Kong's HSI fell sharply below 25,000, closing down 2.32%.  
- Leading tech stocks such as MEITUAN-W and TENCENT faced significant declines, with short-selling pressures evident across the sector.  
- Changxin Technology's IPO was approved for RMB 29.5 billion, becoming the largest A-share IPO this year, while resource stocks also experienced notable declines.

HSI Slumps 587 pts at Half-Day, Loses 25,000; MEITUAN-W  Hits Trough, Down Nearly 7%; Resource Stocks Under Pressure; KNOWLEDGE ATLAS Up 6% Against Market to New High

Morgan Stanley forecasts that MEITUAN-W will face an operating loss of RMB4.3 billion in 1Q26, with breakeven expected in 2Q26. The food delivery segment is projected to narrow losses significantly. Despite competition risks, the firm maintains an Overweight rating and a target price of HKD120, expecting gradual recovery in operating margins by 2030.

- Morgan Stanley forecasts that MEITUAN-W will incur an operating loss of RMB4.3 billion in its Core Local Commerce segment for Q1 2026, improving to breakeven by Q2 2026.  
- The instant delivery business is expected to experience significant losses, but narrowing losses could enhance profitability visibility.  
- The broker maintains its Overweight rating on MEITUAN-W, expecting gradual improvement in margins, with a target price of HKD 120.

Morgan Stanley

MORGAN STANLEY DEP SHS EA REP 1/1000 SHS NON CUM PFD O

MORGAN STANLEY DEP SHS REPSTG 1/1000TH PFD SER Q

MORGAN STANLEY DEP SHS REPS 1/1000 7.125% PFD E

MORGAN STANLEY NON-CUM DEP SH REP 1/1000 PFD SER I

MORGAN STANLEY 4.875 DEP SHS REP 1/1000 NCUM PFD SR L

MORGAN STANLEY 6.5%DEP SHS REPSTG 1/1000 NON CUM SER P

MORGAN STANLEY DEP SHS REPS 1/1000 PFD SER 'A'

MORGAN STANLEY DEP SHS REPR 1/1000TH INT PFD SER 'F' FX

MORGAN STANLEY DEP SHS REP 1/1000 NON-CUM PFD STK SER K

M Stanley: MEITUAN-W  Profitability Roadmap Clear, Rating Overweight

03396

The HSI fell 587 points (2.3%) to 24,740, while the HSTI dropped 73 points (1.5%) to 4,833. Major stocks like Meituan and Alibaba saw declines of over 6% and 3%, respectively. However, Hua Hong Semiconductor and Legend Holdings reached new highs, with Hua Hong up 11.1%. Overall, the market experienced significant short selling activity across various sectors.

- The Hang Seng Index (HSI) fell 587 points, or 2.3%, to close at 24,740, reflecting a broad decline in the market.  
- Notable declines included Meituan, Alibaba, and Tencent, with substantial short selling activity reported across various stocks.  
- Conversely, QFIN-S and Wellcell H-New saw significant gains, highlighting variability in market performance amid the overall downturn.

HSI Down 587 pts; HSTI Down 73 pts; MEITUAN Down over 6%; BABA Down over 3%; HUA HONG SEMI, LEGENDHOLDING, MININGLAMP-W Hit New Highs

Hong Kong stocks fell sharply, with the HSI dropping over 500 points to a near two-month low amid month-end settlements. MEITUAN-W hit a two-year low, while SMIC and HUA HONG SEMI bucked the trend with gains. KNOWLEDGE ATLAS reached a record high, rising 7.37%. Overall, the market showed mixed performance with significant declines in tech and property stocks.

- China A-shares showed weakness near midday, with the Shanghai Composite Index and Shenzhen Component Index down approximately 0.2% and 0.3%.  
- The HSI opened down 97 points and fell to a near two-month low, closing at 24,848, down 479 points or 1.9%.  
- Despite broader declines, Changxin Technology’s IPO was approved, aiming to raise RMB 29.5 billion, marking it as the largest A-share IPO this year.

SSE Index

Shenzhen Index

CK ASSET

WHARF REIC

CHINA OVERSEAS

CHINA RES LAND

KNOWLEDGE ATLAS

MINIMAX-W

XUNCE

HK Stocks Once Slump Over 500 pts on Month-End Settlement; MEITUAN-W  Hits 2-Yr Low; SMIC, HUA HONG SEMI  Buck Trend; KNOWLEDGE ATLAS +7% at Record High

UB#MTUANRC2611C(59928.HK)

Hong Kong Stocks Rise on Ceasefire Hopes

STOCKS | Southbound Funds Record Significant Net Purchase of 7.61 Billion Yuan

Beijing and Shanghai Jointly Launch Administrative Guidance on Three Major Food Delivery Platforms for the First Time

HSI Slips Below 25,000 in Early Session on Futures Settlement Day, Hits Near Two-Month Low; MEITUAN-W Sinks 5%

HSI Down 322 pts; HSTI Down 18 pts; MEITUAN Down over 5%; DONGYUE GROUP, HUA HONG SEMI, LEGENDHOLDING, KINGBOARD HLDG Hit New Highs; Market Turnover Rises

A sharp decline of 4%, Hwabao CSI HK Equities Internet ETF (513770) has reached a new low in the downward phase, MEITUAN-W fell over 6%, institutions: "the darkest hour" has passed

HSI Slumps 587 pts at Half-Day, Loses 25,000; MEITUAN-W Hits Trough, Down Nearly 7%; Resource Stocks Under Pressure; KNOWLEDGE ATLAS Up 6% Against Market to New High

M Stanley: MEITUAN-W Profitability Roadmap Clear, Rating Overweight

HSI Down 587 pts; HSTI Down 73 pts; MEITUAN Down over 6%; BABA Down over 3%; HUA HONG SEMI, LEGENDHOLDING, MININGLAMP-W Hit New Highs

HK Stocks Once Slump Over 500 pts on Month-End Settlement; MEITUAN-W Hits 2-Yr Low; SMIC, HUA HONG SEMI Buck Trend; KNOWLEDGE ATLAS +7% at Record High