On July 20, Meituan-W rose 3.29% in regular trading, trading at HKD 86.9 per share, with turnover of HKD 779 million.

On the news front, the broader internet sector staged a collective rebound, while sustained institutional optimism around Meituan's self-developed trillion-parameter large model LongCat-2.0 continued to provide tailwinds. Since its formal open-sourcing on July 6, the model has drawn multiple bullish calls: Citi maintained a Buy rating with a target price of HKD 113, citing the model's differentiated advantage from proprietary rider network data and accumulated dispatch algorithm expertise. SPDB International and Aijian Securities also issued Buy ratings with a HKD 100 target price, noting that LongCat-2.0 leverages exclusive offline transaction data and operational insights to form a competitive moat distinct from other large language model providers. Analysts highlighted that ongoing deployment of AI Agents across local life service scenarios provides support for further valuation recovery.

Within the Internet and Direct Marketing Retail sector, BABA-W rose 5.06%, JD-SW rose 2.92%, Ali Health rose 2.08%, JD Health rose 3.65%, and PA Good Doctor rose 3.2%.

(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.)