Professional
Added to YB: 2025-11-24
Pitch date: 2025-10-03
3690.HK [neutral]
Meituan
-4.9%
current return
Author Info
No bio for this author
Company Info
Meituan operates as a technology driven retail company in the People’s Republic of China, Hong Kong, Macao, Taiwan, and internationally.
Market Cap
HKD 546.6B
Pitch Price
HKD 106.10
Price Target
N/A
Dividend
N/A
EV/EBITDA
12.08
P/E
19.05
EV/Sales
1.18
Sector
Hotels, Restaurants and Leisure
Category
turnaround
Vision Capital Portfolio Holding: Meituan
3690.HK (holding update): China's dominant food delivery leader (~70% share) facing intense competition from JD.com's aggressive entry. Core local commerce EBIT margins crashed from 21% to 5.7%, expecting losses in 3Q25. Competition may persist 1-2 years before normalization. Despite pain, confident in recovery.
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