MPNGF - Meituan
China's market regulator is investigating Meituan unit Beijing Sankuai Information Technology for suspected violations of unfair competition laws, the country's official CCTV broadcaster reported on Saturday.
The Hang Seng Index remains in a deep bear market and is hovering at its lowest level since July 17th as the crisis between the US and Iran escalates. It dropped to 24,570, down by over 11.65% from its highest level this year.
Meituan delivered Q2 2026 revenue and earnings above consensus, with core local commerce operating profit reaching RMB 5.6 bn versus consensus RMB 3.4 bn. We maintain a Hold/neutral rating, citing balanced risk-reward as MT faces domestic competition from BABA and slow international scaling of Keeta. The company trades at 16x forward earnings, a slight discount to peers, reflecting structural headwinds: persistent subsidies, regulatory cost volatility, and uncertain margin durability.
The results snapped a three-quarter streak of losses for the Chinese shopping-and-delivery platform.
Chinese food delivery giant Meituan on Friday swung to profit and exceeded revenue growth estimates as a year of bruising, subsidy-fuelled competition in China's one-hour delivery market showed further signs of easing.
The global smart glasses category surged, with Meta controlling nearly 70% of market share. More than half of Even Realities' user base is located in the United States, while approximately 80% of its developer community is U.S.-based.
Meta and Snap rolled out new smart glasses last month, the latest sign that the industry is racing to put a camera and an AI assistant onto users' faces. As the fast-growing market heats up, upstarts like Even Realities are muscling in on the giants.
Alibaba is reportedly offering $1.5 billion for regional online grocer Pupu, more than double the $600 million offered by a previous bidder
Meituan remains a Buy as Q1 2026 results confirm Q4 2025 was likely the trough, not a new run-rate. Sequential improvement is clear: CLC and New Initiatives losses narrowed sharply, and food delivery economics are moving in the right direction. Q1 demonstrates MPNGF can improve profitability without a sharp revenue rebound, invalidating the bear case of a permanent subsidy war.
Meituan: Downgrade To HOLD As Structural Recovery Meets Cyclical Stagnation
Meituan (MPNGY) Q1 2026 Earnings Call Transcript
China's top food-delivery company stayed in the red for the third consecutive quarter.
Brazilian food delivery app iFood, owned by Dutch investment group Prosus , is suing rival Keeta, controlled by Chinese group Meituan , for alleged unfair competition in Brazil.
Meituan remains a buy as the business fundamentals outshine the Q4 headline loss, with improved user quality and a strengthening moat. Core Local Commerce faces pressure, but food delivery competition is rationalizing, and sequential margin recovery is underway as management pulls back from low-quality orders. MPNGF's upgraded membership program is driving higher user engagement, retention, and ARPU, expanding the high-value member base and reducing churn risk.
I have turned positive on Meituan after analyzing its quarterly financial performance and recent regulatory developments in China. Meituan's 4Q2025 company-wide deficit narrowed sequentially, and the firm is guiding for smaller food delivery losses in 1Q26. Chinese regulators are discouraging price wars, which have favorable read-throughs for the company's future profitability.
Meituan (MPNGY) Q4 2025 Earnings Call Transcript
The Chinese food-delivery giant continued to bleed from a brutal price war, posting a second straight quarter in the red.