According to a research report published by Nomura, Meituan's second-quarter profit was better than expected. Total revenue increased 14% year over year, 3% higher than the bank's forecast; non-GAAP operating profit reached 3.9 billion yuan, far higher than the bank's original forecast of 317 million yuan. Overall, Meituan's business development trajectory is broadly in line with expectations. Continued improvement in the profitability of its core business in China, along with more prudent overseas investment, should support a steady recovery in profits. Nomura expects Meituan to record an operating profit of 4.5 billion yuan for the 2026 fiscal year and raise the operating profit forecast for the 2027 fiscal year by 15%. The bank maintained its “buy” rating, and the target price was raised from HK$109 to HK$118.

According to a research report published by Nomura, Meituan's second-quarter profit was better than expected. Total revenue increased 14% year over year, 3% higher than the bank's forecast; non-GAAP operating profit reached 3.9 billion yuan, far higher than the bank's original forecast of 317 million yuan. Overall, Meituan's business development trajectory is broadly in line with expectations. Continued improvement in the profitability of its core business in China, along with more prudent overseas investment, should support a steady recovery in profits. Nomura expects Meituan to record an operating profit of 4.5 billion yuan for the 2026 fiscal year and raise the operating profit forecast for the 2027 fiscal year by 15%. The bank maintained its “buy” rating, and the target price was raised from HK$109 to HK$118.