On June 29, Meituan-W rose 4.2% in regular trading, trading at 68.1 HKD/share, with turnover of 287 million HKD.

On the news front, the rally was driven by management actions announced at the annual general meeting on June 26. CEO Wang Xing acknowledged that the stock's performance over recent years had been unsatisfactory, stating he bears significant responsibility. He emphasized that he has never sold a single share since the company's founding and has no plans to do so. CFO Chen Shaohui stated explicitly that the company is severely undervalued and announced plans to initiate a share buyback program.

Additionally, Goldman Sachs previously maintained a Buy rating on Meituan and raised its target price to 116 HKD, forecasting that the food delivery business could reach breakeven in Q2. After a weekend of digestion, these multiple confidence-boosting measures from management helped restore market sentiment, reversing the stock's prior slide to one-year lows near 64.75 HKD earlier last week amid broader Hong Kong market weakness.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)