Meituan Class B

03690: XHKG (HKG)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Meituan Earnings: Valuation Maintained; Long-Term Earnings Recovery Offsets Medium-Term Pressure

Chelsey Tam

May 27, 2025

To defend its food delivery market share amid intense price competition, Meituan expects second-quarter year-on-year growth in core local commerce, or CLC, revenue, to decelerate from the first quarter, with second-quarter CLC operating profit declining significantly year on year.

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Meituan Class B

Meituan Earnings: Valuation Maintained; Long-Term Earnings Recovery Offsets Medium-Term Pressure

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