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<Research>UOB Kay Hian Trims MEITUAN-W (03690.HK) TP to $216, Keeps Rating at Buy
Recommend 13 Positive 25 Negative 9 |
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MEITUAN-W (03690.HK)'s 4Q24 results were in line with expectations, UOB Kay Hian released a research report saying. Total revenue increased by 20% YoY to RMB88.5 billion, in line with the broker and consensus estimates. Non-IFRS net profit was RMB6.2 billion, while net profit margin rose 5 ppts YoY to 11%, in line with market consensus. UOB Kay Hian was cautiously optimistic about MEITUAN-W's 2025 performance, as it made solid progress in its overseas expansion and AI development, offset by margin pressure from the highly competitive environment. Therefore, the broker kept rating at Buy, and trimmed its target price from $222 to $216. AAStocks Financial News |
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