Meituan stock falls 2.09 percent despite Q2 profit rebound?

Published on 10/04/2026 at 12:09 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Meituan stock posted CNY 2.15 billion in Q2 net income, up 491 percent year over year. Revenue reached CNY 104.6 billion, while 50 analysts rated the shares.

Meituan, KYG596691041, Illustration mit AI erstellt.

Meituan (KYG596691041) stock fell 2.09 percent to HKD 70.20 on the Hong Kong Stock Exchange on October 2, 2026, as the market weighed a sharp quarterly profit recovery against continuing competition in local services. The company reported Q2 2026 revenue of CNY 104.6 billion and net income of CNY 2.15 billion, according to Simply Wall St.

Q2 profit returns to growth

The Q2 2026 figures mark a substantial change from the prior-year quarter. EPS rose to CNY 0.35 from CNY 0.06 in Q2 2025, while net income increased 491 percent and revenue grew 14 percent, Simply Wall St reported on September 30, 2026. Profit margin reached 2.1 percent, compared with 0.4 percent in Q2 2025.

The operating recovery matters because Meituan had posted a CNY 6.83 billion net loss in Q1 2026, while quarterly revenue then stood at CNY 91.0 billion, according to the same Q2 earnings overview. Q2 revenue therefore exceeded Q1 by CNY 13.6 billion, although the comparison spans different seasonal quarters.

Analysts see a wider valuation gap

The latest consensus compiled by Eulerpool assigns Meituan a Buy rating across 50 analysts: 33 Buy, 14 Hold and 3 Sell. The median 12-month target is CNY 104.67, while the average target is CNY 109.18.

UBS kept its Buy rating and raised its target from HKD 128 to HKD 132 on September 21, 2026, according to Futunn. UBS projected core local commerce operating profit to rise from RMB 13 billion in 2026 to RMB 55 billion by 2028, making margin durability the central test for the recovery narrative.

Stock stays below yearly peak

Meituan stock was last at HKD 70.20 on the Hong Kong Stock Exchange on October 2, 2026 at 4:08 p.m. HKT. The session range was HKD 68.85 to HKD 70.80, against a 52-week range of HKD 63.65 to HKD 108.00, while volume reached 22,524,055 shares.

The market capitalization was HKD 433.3 billion as of October 2, 2026. The combination of a 2.1 percent quarterly margin and a 491 percent net income increase leaves investors with a clear earnings question: can Meituan protect the Q2 improvement as competition and investment spending evolve?