Meituan Class B

03690: XHKG (HKG)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Meituan Earnings: Earnings Recovery on Track, Just Slow; Shares Undervalued

Chelsey Tam

Aug 31, 2026

Meituan swung to a second-quarter operating profit of CNY 2.7 billion, well ahead of the CNY 1.3 billion loss S&P consensus expected and a sharp turnaround from the CNY 6.5 billion loss in the first quarter. This was mainly driven by the improvement in core local commerce.

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Meituan Class B

Meituan Earnings: Earnings Recovery on Track, Just Slow; Shares Undervalued

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