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MEITUAN-W Opens 2.3% Lower; 3Q Non-IFRS Loss in Line; M Stanley Picks Up Initial Signs of Bottoming Out
Recommend 12 Positive 27 Negative 6 |
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MEITUAN-W (03690.HK) opened 2.34% lower this morning (1st) at HKD100.1, with pre-market trading volume of 1.9228 million shares, involving HKD192 million. The company announced its 3Q25 results after the bell last Friday (November 28). It recorded a net loss of RMB18.632 billion, compared to a profit of RMB12.865 billion in the same period last year, missing the forecasted range of RMB15.936-17.772 billion from four brokers as summarized by our reporters. MEITUAN-W also logged a non-IFRS adjusted net loss of nearly RMB16.01 billion, compared to an adjusted net profit of RMB12.829 billion in 3Q24, in line with forecasts from six brokers ranging from RMB14.625-17.762 billion as summarized by our reporters, slightly below the estimated median of RMB16.13 billion. Morgan Stanley commented that MEITUAN-W showed initial signs of bottoming out, and the worst period might have come to an end. It reduced MEITUAN-W's target price from HKD135 to HKD120, with a rating of Overweight. AAStocks Financial News |
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