According to a research report published by Citigroup, Meituan will announce its second-quarter results at the end of August, and the expected results are expected to meet or slightly exceed expectations; maintaining the current forecast, that is, total revenue for the second quarter increased 10.7% year-on-year to 101.7 billion yuan, and adjusted net profit of about 633 million yuan, compared to 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. By business division, Citi predicts that core local commercial revenue will increase 5.7% year over year to 69.1 billion yuan; takeout business operating margin forecast to increase 0.2 percentage points year over year; in-store business revenue will increase 8.4% year over year to 19 billion yuan; and new business revenue will increase 22.9% year over year to 33 billion yuan. Citi maintains Meituan's “Buy/High Risk” rating, with a target price of HK$113.

According to a research report published by Citigroup, Meituan will announce its second-quarter results at the end of August, and the expected results are expected to meet or slightly exceed expectations; maintaining the current forecast, that is, total revenue for the second quarter increased 10.7% year-on-year to 101.7 billion yuan, and adjusted net profit of about 633 million yuan, compared to 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. By business division, Citi predicts that core local commercial revenue will increase 5.7% year over year to 69.1 billion yuan; takeout business operating margin forecast to increase 0.2 percentage points year over year; in-store business revenue will increase 8.4% year over year to 19 billion yuan; and new business revenue will increase 22.9% year over year to 33 billion yuan. Citi maintains Meituan's “Buy/High Risk” rating, with a target price of HK$113.