Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
MEITUAN-W Opens ~5% Lower Post-Earnings; CEO Vows to Win Food Delivery War at All Costs
Recommend 34 Positive 55 Negative 28 |
||||
|
||||
|
MEITUAN-W (03690.HK) opened 4.95% lower this morning at HKD123 following its results announcement. The trading volume was 5.5 million shares, involving approximately HKD677 million. Meituan announced its 1Q results for the period ending March 2025 after market close yesterday, with net profit reaching approximately RMB10.06 billion, representing a YoY elevation of 87.3%, topping expectations. Non-IFRS adjusted net profit approximated RMB10.95 billion, reflecting a YoY rise of 46.2%, also beating expectations. Regarding the fierce competition with JD-SW (09618.HK) and BABA-W (09988.HK)'s food delivery platforms, Meituan CEO Wang Xing stated during the conference call for results announcement that Meituan will win the competition at all costs. Meituan has experienced several rounds of intense competition in the past, said Wang, believing that the company will emerge victorious this time as well. Meituan welcomes new players into the battlefield, envisioning the food delivery industry has enormous potential. However, it is noted that some subsidies in the current industry competition are irrational. AASTOCKS Financial News Website: www.aastocks.com |
||||
Copied to Clipboard
 |
||||
