0646 GMT - Meituan's heavy subsidies for its food delivery business drives orders growth but weighs on its earnings outlook, HSBC analysts say in a research note. The orders volume growth may be more resilient than HSBC's expectations as the market grows faster amid heavy subsidies. But Meituan's food delivery revenue growth could lag its order growth. They note that this drag on its earnings could diminish over time as subsidies are reduced from 2026 onwards, they say. HSBC trims Meituan's 2025-2027 food-delivery operating profit forecast by 3%-7%. HSBC maintains a buy call on Meituan but lowers its target price to HK$160.00 from HK$165.00. Shares are last at HK$132.00. (sherry.qin@wsj.com)
(END) Dow Jones Newswires
May 27, 2025 02:46 ET (06:46 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。