Meituan stock falls as Q2 profit recovery meets competition
Published on 09/29/2026 at 07:21 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
Meituan stock was trading at HKD 70.85 on the Hong Kong Stock Exchange at 1:01 p.m. HKT on September 29, 2026, down 1.46 percent from the prior close of HKD 71.90. The move comes as the company balances a sharp second-quarter profit recovery against renewed competition and higher seasonal spending.
Q2 revenue rises 14.4 percent
According to Yahoo Finance on August 28, 2026, Meituan reported Q2 2026 revenue of CNY 104.6 billion, up 14.4 percent year over year. Adjusted net profit reached CNY 2.5 billion, while total segment operating profit reached CNY 3.9 billion.
The recovery was concentrated in the core business. Meituan said core local commerce revenue reached CNY 71.5 billion in Q2, up 10.1 percent year over year, and segment operating profit turned positive at CNY 5.7 billion.
Nomura raises target to HKD 118
According to MarketScreener on August 31, 2026, Nomura raised its Meituan price target to HKD 118 from HKD 109 and kept a Buy rating. The target lies 66.55 percent above the HKD 70.85 share price used in this article.
The counter-factor is cost pressure in the next quarter. In the earnings call, Meituan said food-delivery unit economics should remain positive in Q3, but seasonal subsidies, courier support and nationwide occupational injury insurance will push delivery costs per order above Q2 levels.
Stock stays 34.40 percent below its high
Meituan's September 29, 2026 intraday range was HKD 70.70 to HKD 72.05, while its 52-week range was HKD 63.65 to HKD 108.00. The current price is 34.40 percent below the 52-week high, leaving profitability execution and competitive intensity as the key market variables.
Meituan stock snapshot
- Company: Meituan
- Ticker: 3690
- Trading venue: Hong Kong Stock Exchange
- Price (as of September 29, 2026, 1:01 p.m. HKT): HKD 70.85
- Market capitalization: HKD 437.3 billion (as of September 29, 2026)
- 52-week range: HKD 63.65-HKD 108.00 (as of September 29, 2026)
- Sector / Industry: Consumer Discretionary / Local Services
