On July 23, MEITUAN-W shares rose more than 6% in the afternoon. On the news front, China's first national standard system for AI Agent interoperability officially entered trial application on July 21 in Beijing. MEITUAN was among the first batch of 18 entities to sign cooperation agreements, alongside Didi, Lenovo, and others, further reinforcing market expectations for the company's AI application deployment.

The standard series covers the full lifecycle of AI agents, addressing industry pain points such as incompatible communication interfaces, lack of identity management, and fragmented cross-domain collaboration. MEITUAN-W's participation positions it to leverage its proprietary offline data and rider network for differentiated AI-driven services in local commerce.

Additionally, MEITUAN-W had accumulated over 4% in declines over the prior two trading sessions amid BlackRock's consecutive stake reductions. Market participants noted that the short-term selling pressure appeared largely absorbed, creating technical rebound conditions. Citi maintains a Buy rating with a HKD 113 target price, while PICC International assigns a HKD 100 target.

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