- The 1st Blue Arrow signal in February 2024 marked the beginning of Meituan's (3690.HK) impressive 87% rally.
- Smart money's continued presence suggests institutional support, bolstering our confidence as investors to hold onto the stock.
Company Overview
- Meituan is a Chinese multinational company specializing in e-commerce, food delivery, and consumer services.
- Founded in 2010 by Wang Xing, Wang Huiwen, and Mu Rongjun.
- Headquarters in Beijing, China.
Business Segments
- Food Delivery: Meituan's core business, offering food delivery services through its mobile app.
- E-commerce: Meituan Mall and Meituan Market provide online shopping platforms.
- Hotel and Travel Booking: Meituan offers hotel bookings and travel services.
- Other Services: Includes ride-hailing, bike-sharing, and entertainment services.
Key Statistics
- Market capitalization: around HKD 1.4 trillion (approximately USD 180 billion).
- Revenue (2022): CNY 221.6 billion (approximately USD 31.4 billion).
- Users (2022): Over 600 million monthly active users.
Growth Drivers
- Increasing demand for food delivery and e-commerce services in China.
- Expansion into new markets and services.
- Strategic partnerships and investments.
