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<Foresight>Brokers Envision MEITUAN-W's 1Q25 Adj. Profit to Rise ~32% YoY; Spotlight on Delivery Biz Unit Economics & New Biz Performance
Recommend 13 Positive 23 Negative 7 |
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MEITUAN-W (03690.HK) is set to announce its 1Q25 results next Monday (26th). Shored up by continued growth in its core local commerce (food delivery and in-store services) and a rising adjusted net profit margin, the company, according to the forecasts from four brokers as consolidated by our reporters, is expected to report non-IFRS adjusted net profit of RMB9.04-10.128 billion for 1Q25, marking a YoY increase of 20.7-35.3% compared to RMB7.488 billion in adjusted net profit for the same period last year. The median of RMB9.857 billion also marks a YoY surge of 31.6%. JD-SW (09618.HK) has recently ventured into food delivery and instant retail services, with JD Food Delivery having surpassed 20 million daily orders. The market will be watching MEITUAN-W's management for insights on industry competition, subsidies, the per-share unit economics of its food delivery business and the pressures it is facing, as well as the outlook for new businesses, overseas expansion strategies, and subsidy scales. Broker │ 1Q25 Non-IFRS Adj. NP Forecast (RMB) │ YoY Change Goldman Sachs │ 10.128 billion │ +35.3% CLSA │ 9.932 billion │ +32.6% Citi │ 9.782 billion │ +30.6% CICC │ 9.04 billion │ +20.7% Calculated based on MEITUAN-W's 1Q24 non-IFRS adjusted net profit of RMB7.488 billion. AAStocks Financial News |
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