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<Research>CICC Expects MEITUAN-W (03690.HK) 4Q25 Adj. Net Loss to Be RMB13.2B, Lowers 2026/ 2027 Adj. Earnings Forecasts
Recommend 24 Positive 41 Negative 18 |
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CICC released a research report expecting that MEITUAN-W (03690.HK)'s 4Q25 revenue will grow by 4% YoY to RMB91.9 billion, with an adjusted net loss of RMB13.2 billion, corresponding to an adjusted net loss ratio of 14%. CICC maintained its 2025 adjusted net loss forecast for MEITUAN-W at RMB16.8 billion. Considering competition, the broker lowered its 2026 forecast from an adjusted net profit of RMB19.6 billion to an adjusted net loss of RMB9.7 billion, and reduced its 2027 adjusted net profit estimation by 34% to RMB29.9 billion. Given business resilience, CICC kept rating at Outperform and a target price of $125, corresponding to a projected 2027 adjusted PE ratio of 23x and an upside room of 28%. AASTOCKS Financial News Website: www.aastocks.com |
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