Meituan's strong revenue performance exceeded expectations, and some brokerage firms raised the company's target prices based on the resilience shown by its core takeout business. J.P. Morgan Chase: Analysts, including Alex Yao, said in the research report that the second-quarter results showed that competitors failed to rely on the order volume brought in by subsidies and converted into actual market share in high-value business segments. Meituan's investment logic has changed from a “profit reversal that has not been structurally verified” to a “structural profit improvement.” Citibank: Analysts including Alicia Yap pointed out in the research report that operating profit greatly exceeded expectations, thanks to the company's focus on high-quality orders and improved operational efficiency. Despite management's guidance that profit margins will decline month-on-month in the third quarter, the fundamentals of the underlying business remain strong. New businesses are gaining momentum, and Keeta's losses are narrowing. Bernstein: Analysts including Robin Zhu said in the research report that although Meituan has just gone through a round of intense competitive shocks, the company is still focusing on competing for market share; due to the macroeconomic environment and ongoing competitive friction in the industry, revenue growth is under pressure. As Saudi Arabia achieved profits in July, new business lost less than expected this quarter.

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