（原标题：【券商聚焦】国海证券维持美团-W(03690)“买入”评级 指竞争加剧拖累短期业绩）金吾财讯|国海证券发布研报指，美团-W(03690)2025Q4核心本地商业营收同比下降1%至648亿元，经营利润亏损100.5亿元，主要因即时零售行业竞争加剧导致补贴力度加大。预计2025Q4总营收916亿元（YoY+3.5%），其中餐饮外卖营收391亿元（YoY-11%），经营利润率-33.5%；闪购...
Source Link（原标题：【券商聚焦】国海证券维持美团-W(03690)“买入”评级 指竞争加剧拖累短期业绩）金吾财讯|国海证券发布研报指，美团-W(03690)2025Q4核心本地商业营收同比下降1%至648亿元，经营利润亏损100.5亿元，主要因即时零售行业竞争加剧导致补贴力度加大。预计2025Q4总营收916亿元（YoY+3.5%），其中餐饮外卖营收391亿元（YoY-11%），经营利润率-33.5%；闪购...
Source LinkDisclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.