[Brokerage Focus] China Great Wall Securities maintains a "buy" rating for Gushengtang (02273) as the company collaborates with Meituan to enhance the digitization of traditional Chinese medicine services.
Jingu Wealth News | China Great Wall Securities has issued a research report. According to the investor relations of Gu Sheng Tang (02273), on September 11, 2024, Gu Sheng Tang reached a strategic cooperation with LinkDoc Medical, with more than 70 traditional Chinese medical institutions and over 0.03 million traditional Chinese physicians from Gu Sheng Tang's traditional Chinese medicine division fully settling in LinkDoc Medical, providing users with appointment registration and online consulting services. The two parties will also collaborate on co-branded membership cards and providing traditional Chinese medical services to corporate clients. According to the report, based on the "Statistical Bulletin on the Development of China's Health and Health Undertakings in 2023" released by the National Health Commission on August 29, 2024, in the field of traditional Chinese medicine services.
Meituan-W (03690.HK) spent HKD 500 million to repurchase 4.06 million shares on September 12th.
On September 12, Meituan-W (03690.HK) announced that it repurchased 4.06 million shares for a cost of HKD 0.5 billion.
Express News | Meituan Bought Back 4.1 Mln B Shares for HK$499.9 Mln on Sept 12 - HKEX Filing
Capital trends | Beishui continues to acquire 3.5 billion Hong Kong dollars of Alibaba, and then sells more than 0.6 billion Hong Kong dollars of Hong Kong Exchange.
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[Brokerage Focus] ICBC International: China's internet profitability continues to improve, and Tencent (00700) is the preferred choice.
Golden Financial News | CICC releases a report on China's internet industry, most of the internet companies covered by the bank have announced better-than-expected earnings for the second quarter of 2024, although revenues were only in line with or below expectations. The only exception is Meituan (03690), which has exceeded expectations in both revenue and profits. The bank observes that due to macro uncertainties and low consumer confidence, the revenue growth of most companies has slowed down. On the other hand, profit margins continue to improve due to the following factors: 1) continuous cost optimization and efficiency improvement; 2) revenue structure transformation; 3) improved competitive landscape. Except for PDD Holdings, most public
[Hong Kong Stock Connect] Meituan (03690) rose more than 3%, with Fitch upgrading its credit rating to 'BBB'
Golden Financial Information | Meituan-Dianping (03690) stock price rose in the morning session, up 3.02% to HKD123 at the time of publication, with a turnover of HKD1.411 billion. Fitch Ratings has upgraded its long-term issuer default rating for Chinese e-commerce company Meituan from "BBB-" to "BBB". The rating outlook is "positive". Fitch also upgraded Meituan's senior unsecured rating and the rating of its USD 0.75 billion notes due in 2025 and USD 1.25 billion notes due in 2030 from "BBB-" to "BBB". Fitch expects the scalability of Meituan's platform and the penetration of its core local commerce business.
