Equity Analyst

Xin Yu, CFA

An equity research analyst with over 5 years of experience in multiple sectors. Previously worked for a global asset manager, covering China equities in multiple markets including A-shares/H-shares/ADRs and multiple sectors including TMT, industrial, consumer, etc. I conduct fundamental research to invest in high quality companies at an attractive valuation.

[Meituan (3690 HK) Downgrade to SELL]: The Rise of Douyin Is Likely to Hurt Meituan

Equity Bottom-Up

<ul>
<li>Food delivery daily order growth gradually recovered in late Dec</li>
<li>Instashopping continued its growth momentum. Community group purchase has transformed into Next Day Delivery</li>
<li>With the recovery of restaurants and travel post re-opening, Meituan is expected to be one of the biggest beneficiaries.</li>
</ul>


Food delivery daily order growth gradually recovered in late Dec
Instashopping continued its growth momentum. Community group purchase has transformed into Next Day Delivery
With the recovery of restaurants and travel post re-opening, Meituan is expected to be one of the biggest beneficiaries.


Meituan

Meituan 4Q Food Delivery Updates