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<Foresight>Brokers Predict MEITUAN-W to Swing Adjusted Profit into Loss RMB16.1B+ in 3Q; Focus on Delivery Subsidies & Unit Economics Guidance
Recommend 13 Positive 17 Negative 2 |
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MEITUAN-W (03690.HK) is set to announce its 3Q25 results this Friday (28th). The company's core local business profits are expected to be weighed down by intense competition among Chinese food delivery platforms, while its new business is estimated to see continued losses due to overseas expansion. According to the forecasts from six brokers as summarized by our reporters, MEITUAN-W will record a non-IFRS adjusted loss of RMB14.625-17.762 billion for 3Q25, compared to a net profit of RMB12.829 billion in 3Q24, with a median adjusted loss of RMB16.13 billion. Investors will focus on MEITUAN-W's management guidance on food delivery, on-demand retail revenue growth, competitive landscape, as well as in-store business revenue and profit margin trends. More specifically, they will be eyeing management's guidance on quarterly losses in on-demand retail and future profitability recovery (delivery subsidies, rider costs, user subsidies, etc.) and Keeta's overseas expansion pace (Kuwait, Qatar, UAE, Brazil, etc.). Broker│3Q25 non-IFRS Adjusted Profit Forecast CLSA│Loss of RMB14.625 billion Morgan Stanley│Loss of RMB15.529 billion Citi│Loss of RMB16.26 billion BofA Securities│Loss of RMB16 billion JPMorgan│Loss of RMB17 billion Goldman Sachs│Loss of RMB17.762 billion Calculated based on MEITUAN-W's 3Q24 non-IFRS adjusted net profit of RMB12.829 billion. AAStocks Financial News |
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