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)
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