The Zhitong Finance App learned that Meituan-W (03690) rose nearly 3% in the intraday period. As of press release, it had risen 2.34% to HK$87.55, with a turnover of HK$1,245 billion.
According to the news, on August 19, Yushu Technology officially landed on the A-share Science and Technology Innovation Board. The opening report was 1,100 yuan/share, up 629.44%, and the total market value reached 444.9 billion yuan. Prior to this issuance, Meituan was the largest external institutional shareholder of Yushu Technology. Before the issuance, the three companies, Hanhai Information, Galaxy Z, and Chengdu Dragon Ball held a total of about 9.65% of the shares. After the issuance, the three companies held a total shareholding ratio of about 8.68%, corresponding to the latest market value of about 38.6 billion yuan, and surplus surpassed 30 billion yuan.
In addition, Meituan will announce its second-quarter results at the end of August. Citi expects the company's performance to meet or slightly exceed expectations, keeping the current forecast unchanged. That is, total revenue for the second quarter increased 10.7% year-on-year to 101.7 billion yuan, with an adjusted net profit record of about 633 million yuan, compared with general market expectations of 10.9 billion yuan and 270 million yuan. Under the supervision of subsidies and competition by the regulatory authorities, the bank believes that the economic benefits of takeout business units may recover faster than expected, which is expected to drive better performance.