Meituan spent HKD 0.5 billion on repurchasing 4.1983 million shares on July 18th.

Meituan-W (03690) announced that the company will buy back 4.1983 million shares for HKD 0.5 billion on July 18, 2024, at a repurchase price of HKD 116.8-120 per share.

新浪港股19:54 ET

Selected Announcements of GRONHUI (HK) | Luk Fook Holdings (00590.HK) Q1 overall retail value fell by 18%.

Luk Fook Hold (00590.HK) experienced an overall retail value decline of 18% in the first quarter.

Gelonghui FinanceJul 18 11:15 ET

Meituan-W (03690.HK) repurchased 4.198 million shares on July 18, costing 0.5 billion Hong Kong dollars.

Meituan-W (03690.HK) announced that on July 18th, it spent HKD 0.5 billion to repurchase 4.198 million shares.

Gelonghui FinanceJul 18 07:47 ET

Express News | Meituan Bought Back 4.2 Mln B Shares for HK$499.9 Mln on July 18 - HKEX Filing

ReutersJul 18 07:45 ET

[Brokerage Focus] GTJA maintains a "shareholding" rating for Meituan (03690), expecting synergies between the in-store and delivery businesses to drive growth beyond expectations.

In order to improve efficiency, Wang Puzhong manages the core local business of Meituan (03690) to connect the in-store and at-home operations, according to Guotai Junan's research. The bank believes that Wang Puzhong, the hero of Meituan, will lead the expansion of Meituan's instant retail process beyond expectations. As of July 4th, the number of merchants participating in Meituan's 'Divine Members' has reached five million. When synergies are generated in the in-store and at-home business, Meituan is expected to show unexpected growth. The bank pointed out that the competition in-store to at-home market is easing, and the new business is releasing elasticity by reducing losses. In the in-store business, the bank expects Meituan's operating profit margin for FY24Q2 to be 31%, compared to FY2023.

金吾財訊Jul 18 03:32 ET

Nomura: Profits in China's internet plus-related industry better than expected, focus on ai in the second half of the year.

Shalong Shi, head of the Nomura China Internet and New Media Research Department, said that investors are relatively cautious about the mainland's internet plus-related industry, but think that the fundamentals of the industry are still healthy.

Zhitong FinanceJul 18 03:04 ET