Tencent Distribution of Meituan Shares Official - Impact and Index Implications

Meituan Index Flows Clarifications on the Tencent Distribution; Prosus Comments on Its Holdings

Meituan (3690 HK): 3Q22, Growth Higher, Loss Close to Zero, 90% Upside

Meituan (3690 HK): 2Q22, Reduced Loss, But Unnecessarily Reclassifies Revenue

Overseas Chinese Equities, Aequitas Research

Ming Lu

Overseas Chinese Equities

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Bottom-Up

<ul>
<li>In July, Meituan’s user base exceeded Ele.me and Ele.me’s active user base decreased by 24% YoY.</li>
<li>In China, Monthly active user bases of local life and food delivery recovered from May to July.</li>
<li>We believe Meituan’s stock has only a downside of 6% for year end 2023.</li>
</ul>


In July, Meituan’s user base exceeded Ele.me and Ele.me’s active user base decreased by 24% YoY.
In China, Monthly active user bases of local life and food delivery recovered from May to July.
We believe Meituan’s stock has only a downside of 6% for year end 2023.


Meituan (3690 HK): User Base Beating Competitor, Industry Recovering, Upgrade to Hold