HK Stock Market Move | MEITUAN-W (03690) rose more than 4% in response to the trend of reduced losses in the first quarter of food delivery, which is expected to continue.

MEITUAN-W (03690) rose more than 4% during trading, and as of the time of writing, it was up 3.17%, at HK$89.45, with a turnover of HK$46.1 billion. On the news front, on March 26th, Meituan released its performance for the fourth quarter and full year of 2025, disclosing during a conference call that the trend of decreasing losses in the first quarter of food delivery will continue. "Up to now in the first quarter, Meituan continues to maintain a leading position in the high-price order market GTV." It is worth mentioning that the State Administration for Market Regulation held the first fair competition forum for enterprises in 2026, emphasizing the need to deepen the rectification of "zero-sum game" competition, deepen institutional opening in the competition field, and provide greater support for companies to expand into international markets and achieve high-quality development. Citi has upgraded its rating on Meituan's Hong Kong stock to buy and raised its target price from HK$94 to HK$110, citing strategic focus on high unit prices and high-quality users which benefited the company's unit economic efficiency (UE) in the fourth quarter of last year and is expected to further improve in the first quarter of 2026. Analysts including Alicia Yap stated in their report that Meituan's execution in overseas markets is strong, and the unit economic efficiency in the Saudi Arabian market is expected to turn positive by the end of 2026.