According to reports, MEITUAN-W (03690) experienced a surge of over 6% in afternoon trading, reaching a peak rise of 5.72% at HKD 101.6, with a transaction volume of HKD 8.33 billion. On October 20, MEITUAN announced the appointments of Xiao Fei, Head of Software and Hardware Services, and Qiu Guangyu, Head of Keeta Business, to the company’s top decision-making body, the S-team. This move is seen as a significant signal that the company is enhancing its strategic focus on overseas business. Furthermore, MEITUAN’s brand Keeta will officially launch operations in Brazil starting October 30, with the first pilot cities being Santos and São Vicente in São Paulo state. A research report from CMB International stated that the impact of new investments in the food delivery business on MEITUAN's operating profits may have peaked, though the pace of improvement in the competitive environment remains a point of interest. The agency believes that industry competition will ultimately return to rationality, and MEITUAN maintains a leading position in high-value food delivery orders, yet the certainty and visibility of short-term profit growth recovery appear low. The rating has been kept at "Buy."