---
title: "\"Big Banks\" Citigroup: Keeta delays expansion plans in Rio de Janeiro, Meituan's business in China still faces intense competition"
type: "News"
locale: "zh-HK"
url: "https://longbridge.com/zh-HK/news/278647833.md"
description: "Citigroup's research report pointed out that Keeta's delay in entering the Rio de Janeiro market is not surprising due to the numerous exclusive agreements held by competitors. This setback may provide positive insights for competitors like DiDi and iFood, alleviating the pressure on DiDi's assumption of EBITDA losses in international business by 2026. Despite ongoing tensions in the Middle East, Keeta's delivery business in the Gulf Arab countries remains resilient. Meituan faces intense competition in its Chinese operations, and Citigroup maintains its \"Neutral/High Risk\" rating with a target price of 94 yuan"
datetime: "2026-03-11T02:36:00.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/278647833.md)
  - [en](https://longbridge.com/en/news/278647833.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/278647833.md)
---

> 支持的語言: [简体中文](https://longbridge.com/zh-CN/news/278647833.md) | [English](https://longbridge.com/en/news/278647833.md)


# "Big Banks" Citigroup: Keeta delays expansion plans in Rio de Janeiro, Meituan's business in China still faces intense competition

Citi published a research report stating that Keeta's delay in entering the Rio de Janeiro market is not surprising, as Keeta attributes this to the exclusive agreements of its competitors. The bank believes that this setback, along with the layoff of 200 local employees, may provide positive insights for competitors like DiDi and iFood, and could alleviate the pressure on DiDi's 2026 international business EBITDA loss assumptions.

Although tensions in the Middle East continue, the bank believes that Keeta's delivery business in the Gulf Cooperation Council countries remains resilient, with a slight increase in daily active users. The bank believes this may indicate an increase in order volume and gross merchandise value demand, as consumers tend to stay at home. However, it is expected that due to increased safety concerns, the wages of delivery personnel and operating costs will rise, leading to a potential widening of losses. Strategically, delaying entry into Brazil's second-largest city may partially mitigate the potential higher losses in the Gulf Cooperation Council market.

Nevertheless, Meituan (03690.HK) still faces fierce competition in its Chinese operations. Citi maintains its "Neutral/High Risk" rating with a target price of 94 yuan

### 相關股票

- [DiDi (DIDIY.US)](https://longbridge.com/zh-HK/quote/DIDIY.US.md)
- [Meituan (MPNGY.US)](https://longbridge.com/zh-HK/quote/MPNGY.US.md)
- [MEITUAN (03690.HK)](https://longbridge.com/zh-HK/quote/03690.HK.md)

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