Hong Kong Stock Market Fluctuation | Meituan-W(03690) surged over 4%. The trend of reducing losses in the first quarter's food delivery sector will continue.

Zhitong Finance APP learned that Meituan-W (03690) surged over 4% during trading, and as of the time of this report, it is up 3.17%, priced at HKD 89.45, with a transaction volume of HKD 4.61 billion.

On the news front, on March 26, Meituan released its performance for the fourth quarter and the full year of 2025. The company disclosed on a conference call that the trend of reducing losses in the food delivery segment will continue, stating, “From the first quarter to date, Meituan continues to maintain its leading position in the mid-to-high price order market GTV.” It is worth mentioning that the State Administration for Market Regulation held the first corporate fair competition symposium of 2026, emphasizing a thorough rectification of “involution-style” competition, deepening institutional openness in competitive fields, and providing greater support for companies to explore international markets and achieve high-quality development.

Citi upgraded Meituan’s Hong Kong stock rating to Buy and raised the target price from HKD 94 to HKD 110, citing benefits from a strategic focus on high average order values and high-quality users. The unit economics (UE) of the company’s delivery business achieved considerable quarter-on-quarter improvement in the fourth quarter of last year and is expected to improve further in the first quarter of 2026. Analysts Alicia Yap and others reported that Meituan’s execution in overseas markets is robust, and the unit economics in the Saudi Arabian market is expected to turn positive by the end of 2026.