Miniso (09896.HK): Will heavily invest and focus on offline physical stores and flash warehouses.
According to internal media reports, the vice president and chief risk officer of miniso (09896.HK), Yang Yunyun, recently stated at the 2024 Meituan Instant Retail Industry Conference that consumers' demands are becoming more diverse, and they want to be able to buy immediately when they want. Instant retail is an important opportunity now and in the future. Businesses should tightly grasp the good model of lightning warehouses and other representative industry trends. Yang Yunyun further mentioned that miniso will heavily invest and focus on offline physical stores and lightning warehouses, achieving a diversified and complementary effect through product differentiation. Previously, miniso and Meituan announced a deep strategic cooperation to
Merrill Lynch raised the target price of Yum China (09987.HK) to 380 yuan, adjusting the earnings forecast for the next two years.
Bank of America Securities has released research reports, listing Yum China (09987.HK) (YUMC.US) as a 'first in, first out' stock selection, believing it is one of the few stocks in the Chinese consumer industry less likely to face downside profit risks. Based on same-store sales performance, margin improvements, strengthening of the Renminbi exchange rate, share buybacks, and fair value gains from the stake in Meituan (03690.HK), Bank of America has raised its earnings per share forecast for Yum China by 3% and 2% for the next two years, with the target price increased from 323 yuan to 380 yuan. Bank of America predicts that Yum China's same-store sales decline in the third quarter will narrow to between 2% and 3%, compared to the second quarter.
Daily Bulls and Bears | Hong Kong stocks net inflow of 28 million Hong Kong dollars in light positions, with a bull-bear street ratio of 63:37; Galaxy Ent fell more than 5% yesterday, while put warrants rose over 5 times.
As of the close of yesterday, the market turnover was 208.369 billion Hong Kong dollars, with a total turnover of 19.177 billion Hong Kong dollars for all warrants. This accounts for 9.2% of the market turnover, with 5.1% held in the 'good depot' category and 4.1% in the 'weak depot' category.
Express News | Meituan established a new technology company in Guangxi.
Hong Kong stocks midday review | Hong Kong stocks rebound! The three major indices oscillate higher; the real estate and major financial sectors led the gains, with Sunac up more than 22% and gtja up more than 6%.
Most of the network technology stocks rose, with Meituan-W up 2.81%, jd.com Group-SW down 2.31%; real estate developers' stocks rose, sunac up 22.27%, china vanke up 15.20%; securities and brokerage stocks generally rose, gtja up 6.17%, china merchants up 5.94%.
The Hong Kong government will open a low-altitude flight pilot program, involving drone delivery, surveying, performances, search and rescue, and other applications.
Chief Executive John Lee Ka-chiu stated in the 2024 Policy Address that low-altitude economy has huge potential. In addition to applications in rescue, surveying, delivery, and passenger transportation, it can also drive the development of communication technology, ai, digital industries, etc. The government is establishing a "Low-altitude Economy Development Task Force", with the Financial Secretary as the Task Force Leader, to formulate development strategies and cross-departmental action plans. The Task Force will start with application projects, set specific application sites to promote projects, and establish regulations and infrastructure systems, study the deployment of basic equipment and networks, and develop locations for drone applications, such as drone delivery, surveying, building maintenance, aerial photography, and performances.
haitong int'l adjusted the target price of Meituan (03690.HK) to 230 yuan, expecting a third-quarter adjusted net profit of 13.4 billion RMB.
Haitong int'l released a report, adjusting its third-quarter performance forecast for Meituan-W (03690.HK), expecting a 21% year-on-year increase in quarterly revenue to 92.2 billion RMB, in line with the market consensus of 91.9 billion RMB. Adjusted net profit is expected to be 13.4 billion RMB, 14% higher than the market consensus of 11.8 billion RMB. The bank forecasts Meituan's core revenue to increase by 19.2% year-on-year to 68.8 billion RMB, with an operating profit of 13.6 billion RMB and an operating profit margin of 19.8%. New business revenue is estimated at 23.5 billion RMB, in line with the market consensus, with an expected loss of 1.8 billion RMB.
bocom intl: Raised Meituan-W (03690) target price to 228 Hong Kong dollars, maintain a "buy" rating
The bank believes that Meituan still holds a leading position in the instant retail and delivery industry in mainland China, although dining takeout has achieved a relatively high online penetration rate.
[Brokerage Focus] Bocom Int'l raises Meituan's (03690) target price by 67.6%, expecting it to maintain a leading position in the mainland's real-time retail and delivery industry.
King's Wealth News | Bocom Intl releases a preview of Meituan's (03690) Q3 business performance, expecting a 21% YoY total revenue increase, compared to Bloomberg/VisibleAlpha (VA) expectations of 20% increase, with net income rising by 98% to 11.4 billion yuan. 1) Local businesses (CLC): Expected revenue to increase by 20%, with instant delivery orders up by 14%/revenue by 18%/profit by 36%, in-store hospitality (IHT) revenue up by 20%/profit by 32%/profit margin of 35%. 2) New business: Expected revenue to increase by 25%, narrowing quarterly losses to 1.86 billion yuan. Regarding 202
Daily Bull and Bear | Hang Seng Index futures risk guarding two thousand points, net inflow of 0.13 billion Hong Kong dollars into good warehouse yesterday, latest Bull and Bear street ratio 71:29
The top five stocks with inflow of funds in the good warehouse are: Hang Seng Index, Tencent, Alibaba, Ping An; The top five stocks with inflow of funds in the light warehouse are: Hong Kong Stock Exchange, Ping An, Alibaba, jd.com, Nikkei 225.
Futu Morning Post | Concerning real estate! The Ministry of Housing and Urban-Rural Development, the Central Bank, and others will make statements on October 17; ASML Holding plunges more than 16%, performance bombshell revealed ahead of time dragging dow
6400 points! UBS Group continues to raise next year's expectations for the US stock market; Apple hit a historical new high intraday, and the company launched a new iPad Mini; Wolfspeed soared more than 21%, receiving a $0.75 billion grant from the US Department of Commerce.
Inflow of tracker fund of hong kong netted 6.416 billion Hong Kong dollars
There was a net inflow of funds from Beishui Nanxiang into tracker fund of Hong Kong (02800.HK), SMIC (00981.HK), and Xiaomi Group (01810.HK), reaching 6.416 billion Hong Kong dollars, 0.608 billion Hong Kong dollars, and 0.205 billion Hong Kong dollars respectively.
Meituan's Wang Puzhong: Lightning Warehouse represents the trend of instant retail supply evolution, with the quantity expected to exceed 0.1 million by 2027.
By 2027, the number of lightning warehouses will exceed 0.1 million, with a scale of 200 billion.
Guosen Securities: Consumer policies are coming one after another, selecting efficient leading enterprises in the dining chain.
Considering the recent frequent combination of measures to stimulate consumer spending, the dining sector is expected to benefit from both fundamental factors and sector sentiment, while balancing the certainty of operational performance and the gradual recovery of the consumption environment.
As the Renminbi weakens, the Hang Seng Index fell by over 800 points in the afternoon, with the Hang Seng Technology Index plummeting by over 4%. Domestic demand, domestic insurance, ATMJ, and other sectors are under pressure.
On the night of the 14th, the three major US stock indices performed well, with the Dow and s&p 500 indices hitting historic highs. The AI chip leader, Nvidia (NVDA.US), also reached a peak. Major stock markets in the Asia-Pacific region generally rose on Tuesday the 15th, with the Nikkei/Yen index rising for the fourth consecutive day, reclaiming the 40,000 points level. The Australia 200 index hit a record high, and the Taiwan stock market also rose to a near three-month high. However, the Shanghai, Shenzhen, and Hong Kong stock markets were slightly weak, with sharp declines in the afternoon. Mainland China announced a 2.4% year-on-year increase in exports in September in US dollars, far below market expectations; Imports in September calculated in US dollars increased by 0.3% year-on-year, slightly below market expectations. The offshore renminbi briefly fell below the 7.13 level today.
Express News | Wang Puzhong: By 2027, the scale of Meituan's Flash Lightning Warehouse will reach 200 billion.
Major banks' ratings | Goldman Sachs: China's internet-related valuations are still reasonable. Reiterate Tencent as the industry's top choice.
格隆汇October 15th | Morgan Stanley's report pointed out that the valuation of China's internet industry is still reasonable. Due to the time required for supportive policies to be converted into consumer and business confidence, it is believed that the potential upside in profit forecasts for the second half of this year to next year is still uncertain, even for certain cyclical sectors. Revenue growth forecasts for China's internet industry in 2025 remain unchanged, with the firm expecting a 7% increase in mainland e-commerce commodity transactions (GMV), an 8% increase in advertising revenue, a 19% increase in total local service transactions (GTV), and a 12% increase in online travel agency (OTA) revenue. The firm's industry preferences are ranked in the following order.
Nomura: The valuation of China's Internet is still reasonable, with Tencent (00700.HK) as the top choice, followed by Meituan (03690.HK) and Ctrip (TCOM.US).
Morgan Stanley's report pointed out that the mainland's People's Bank meeting and Political Bureau meeting at the end of September both indicated a significant policy shift towards the weak economy, but the meetings of the National Development and Reform Commission on October 8th and the Ministry of Finance on October 12th failed to meet market expectations, further strengthening the bank's view that the mainland's debt, population, and deflation will still face challenges in the future, that is, the situation of debt-deflation cycle, especially when consumer stimulation fails to meet expectations. The bank believes that the valuation of China's internet companies is still reasonable. As it takes time for supportive policies to translate into consumer and business confidence, it is believed that even for certain cyclical sectors, from the second half of this year to next year
Express News | Meituan is internally testing the 'Takeout Version of Xiaohongshu,' launching the 'Local Eating' service.
Express News | Meituan established a new technology company in Ningxia.