Restaurants

Meituan

Today’s Key News Recap

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GOOG

GOOGL

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01797

83690

MPNGY

GGLS

GGLL

SOXS

SOXL

SOXX

CP00062

RISE

02015

09866

09868

01810

TSLA

HMTD

XPEV

81810

HXXD

XIACY

1027 | Dolphin Research Focus: 🐬 Macro/Industry 1. On October 25-26 local time, China and the United States held economic and trade consultations in Kuala Lumpur. The two sides reached a preliminary consensus on properly addressing several important economic and trade issues of mutual concern, and the next step will be to go through their respective domestic approval procedures. The easing signals in China-US economic and trade relations help to restore market risk appetite, coupled with positive signals from macroeconomic data, leading to a collective surge in Hong Kong and A-shares today...

MEITUAN

Alphabet - C

Alphabet

NEW ORIENTAL-S

EAST BUY

MEITUAN-WR

New Oriental EDU & Tech

Direxion Daily Googl Bear 1x Shares

Direxion Daily GOOGL Bull 2X Shares

Direxion Semicon Bear 3X

Direxion Semicon Bull 3X

iShares Semiconductor ETF

Semiconductor

Rise Oil & Gas, Inc.

LI AUTO-W

NIO-SW

XPENG-W

XIAOMI-W

Tesla

Meituan HK SDR 5to1

Li Auto

NIO Inc. USD OV

XPeng

XIAOMI-WR

Xiaomi HK SDR 2to1

Xiaomi Corporation

Both Hong Kong and A-shares Rise; Meituan Officially Releases and Opens Source Its Video Generation Model | Today's Important News Recap

Hot topic

Today, the macro data package for September was released as scheduled. (It should be noted that the growth rate directly disclosed by the National Bureau of Statistics this year is about 1-2 percentage points higher than the growth rate calculated based on historical data. We will use the official published figures as the standard.) Overall, Dolphin Research summarized three key points: 1) The overall retail market continues to weaken, with the year-on-year growth rate in September further declining to 3%, not far from the historical low before the major reversal in September last year. Among them, the decline in goods retail was limited, while the growth rate of catering revenue nearly zeroed out, being the main drag. 2) Online channels still maintain a relative advantage, with the growth rate of online physical retail in both this month and the overall third quarter exceeding 7%...

September Retail Sales Review: Revisiting the Major Low Before the Reversal in September 2024?

AVGO

ASML

09988

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OpenAI

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1014 | Dolphin Research Focus: 🐬 Stocks 1, $NIO-SW(09866.HK) Nio has reached a strategic cooperation with Amap Enterprise Car Service, integrating its AI-driven corporate travel solutions. Through AI scheduling algorithms, it reduces employee business travel costs by 15%. This collaboration is a typical practice of technology empowering refined corporate management—AI technology not only directly cuts travel costs but also enhances management efficiency through process optimization and risk control, injecting positive expectations into Nio's financial health...

Broadcom

BABA-W

JD-SW

Destiny Tech100

SoftBank

SoftBank Group Corp.

BABA-WR

Alibaba

JD-SWR

JD.com

Alibaba HK SDR 5to1

JD HK SDR 10to1

OpenAI is collaborating with Arm for the development of Broadcom AI chips; 'Qixian Xiaochu' joins Meituan and Flash Delivery | Today's Important News Recap

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0917 | Dolphin Research Key Focus: 🐬 Macro/Industry 1. The Ministry of Commerce and 9 other departments released the &#34;Several Policy Measures to Expand Service Consumption,&#34; proposing 19 initiatives across five areas, covering optimization of student holiday arrangements, enrichment of cultural and tourism product supply, enhancement of health and elderly care services, aiming to strengthen service consumption supply capacity and unleash service consumption potential. 🐬 Individual Stocks 1. $MEITUAN(03690.HK) Meituan rose nearly 5% today, accelerating its global expansion. Meituan officially launched the Keeta service in Kuwait at 11 a.m. local time on September 15...

BIDU-SW

BIDU-SWR

Baidu

SMIC

SMIC HK SDR 5to1

Baidu Rises on Kunlun Chip Boost; Alibaba Unveils New AI Chip | Today's Important News Recap

ORCL

After a strong performance this quarter, Alibaba's recent stock price has been reaching new highs. What are the main driving factors behind this?Firstly, the past quarter's performance was impressive: 1) The core domestic e-commerce business saw a CMR year-on-year growth of 10.1%, maintaining double-digit growth. 2) Although the loss from the food delivery business was approximately 11 billion, which is not small in absolute terms, it is relatively better compared to JD.com and Meituan at the same scale. The conference call was optimistic about the trend of UE improvement. 3) Cloud business revenue growth exceeded expectations, accelerating to 26%, with guidance indicating continued growth, suggesting a huge potential for domestic cloud business driven by AI. Of course, these factors have been largely reflected in Alibaba's more than 10% single-day gain after the earnings report. The continued rise in Alibaba's stock price in recent days is more driven by the following events:1) The main factor is the continuous surge in AI sentiment both domestically and internationally. Overseas, companies like AVGO, NBIS, and Oracle have announced subsequent earnings guidance far exceeding market expectations, implying a huge and yet-to-be-fully-released demand for chips and cloud computing driven by AI applications and inference needs. This has led to a significant rise in the entire AI industry chain in the US stock market, with market sentiment becoming extremely optimistic.2) In this sentiment, Alibaba, as the largest and best cloud computing provider in China, is the best reflection of the US stock logic domestically. Recently, there has been a continuous stream of positive news.For example, core talents from overseas OpenAI have been hired back to China by Alibaba and Tencent.Additionally, there are reports that Alibaba and Baidu have started using self-developed chips for AI inference and training, reducing the risk of being constrained by chip supply and helping to optimize computing power costs. Besides cloud computing, this also gives Alibaba a reflection of the overseas shift from GPU to ASIC chips.Recently, Alibaba also announced the latest Qwen large model, Qwen3-Next technical architecture, with a total of 80B (80 billion) parameters, activating only 3B (3 billion) parameters in the MoE model during inference. It uses fewer parameters but achieves performance close to the previous Qwen-32B model. The training cost is only about 1/10 of the previous generation, with throughput for long texts over 32K increasing by about 10 times. Stronger performance, lower cost.3) These recent positive news have undoubtedly significantly stimulated the market's optimistic attitude towards Alibaba Cloud, which is the main reason for the recent rise. According to our previous calculations, excluding Alibaba Cloud, the price of Alibaba Group's other businesses + Ant + Alibaba Health equity price + net cash is approximately $110 per share. The elasticity mainly depends on the valuation of Alibaba Cloud, currently priced at about $40 per share based on Alibaba Cloud's approximately 140 billion revenue * 5x PS.This means that every 10% increase in Alibaba Cloud's revenue or valuation would bring an additional $4 in stock price space. For example, if Alibaba Cloud's revenue expectation is raised by 20%, and the valuation is increased from 5x PS to 8x, then reaching $190 or higher is possible.For more detailed content, you can refer to Dolphin Research's commentary on Alibaba's past quarter's performance: <a href="https://longportapp.cn/zh-CN/topics/33488217">https://longportapp.cn/zh-CN/topics/33488217</a>, and the conference call minutes: <a href="https://longportapp.cn/zh-CN/topics/33490060">https://longportapp.cn/zh-CN/topics/33490060</a>$Alibaba(BABA.US)

狼性回归！ “迷失” 阿里，从头再来 - LongPort

Oracle

K3SD

MSFT

0912 | Dolphin Research Focus: 🐬 Stock 1, $MEITUAN(03690.HK) Meituan launched its first AI Agent product &#34;Xiaomei&#34; App, positioned as a &#34;small and beautiful AI life assistant,&#34; equipped with Meituan's self-developed model LongCat-Flash-Chat. It can provide local life services such as food delivery orders and restaurant recommendations and is already available in major app stores. Embedding AI Agent into high-frequency consumption scenarios is expected to enhance user stickiness and transaction conversion rates, expanding competitive advantages. Meituan has been declining for several consecutive days recently...

BIDU ADR US

Microsoft

Meituan Launches "Xiaomei" App, Still Can't Lift Stock; Alibaba & Baidu Keep AI Progress | Today's Important News Recap

AMZN

0911 | Dolphin Research Key Focus: 🐬 Macro/Industry 1. It is reported that the Trump administration is considering imposing strict restrictions on pharmaceuticals from China. If implemented, these restrictions could disrupt the U.S. pharmaceutical industry and the supply of all drugs, from generics to cutting-edge therapies. Today, the Hong Kong stock market's pharmaceutical sector was hit across the board. 2. The U.S. August PPI month-on-month was -0.1%, turning negative for the first time in four months, with a year-on-year growth rate of 2.6% below expectations. The decline in service costs offset the tariff-driven increase in commodity prices, significantly easing inflationary pressures on the production side. After the data release...

Amazon

Alibaba plans to issue $3.2 billion in zero-coupon convertible bonds; Meituan considers debuting Dim Sum bonds | Today's Important News Recap

AAPL

NVDA

0910 | Dolphin Research Key Focus: 🐬 Macro/Industry 🐬 Individual Stocks 1. $Apple(AAPL.US) In the early morning of September 10th Beijing time, Apple held its 2025 Fall Launch Event with the theme &#34;Awe Dropping,&#34; introducing the iPhone 17 series, new Apple Watch, and other products. Notably, the iPhone 17 Pro saw its first price increase in eight years, while Apple's stock price fell by 1.48% on the same day. The iPhone showed some innovation but the highlights were not particularly outstanding, and narratives in the AI field remain scarce...

Apple

NVIDIA

Taiwan Semiconductor

Alibaba Launches "Amap Street Rank"; Meituan Restarts "Premium Delivery" Back to Fray｜Today's Important News Review

Conference Minutes

The following are the minutes of the FY25 Q2 earnings call for Dolphin Research's overall analysis of $MEITUAN(03690.HK). For earnings interpretation, please refer to &#34;The warm-up match has swallowed billions in profits! Is Meituan really facing a 'wolf'?&#34; 1. Review of Core Financial Information 1. Cash Flow - As of June 30, 2025, Meituan maintained a strong net cash position, with cash and cash equivalents and short-term treasury investments totaling RMB 171 billion. - This quarter, cash flow from operating activities significantly decreased year-on-year to RMB 4.8 billion...

Meituan (Minutes): It is expected to incur significant losses in Q3, with resources prioritized for core businesses.

Financial Analysis

The second company in the 'Food Delivery War Trio'—$MEITUAN(03690.HK) also released its Q2 earnings after the Hong Kong stock market closed on August 27. Overall, it performed very similarly to JD.com, also 'wiping out' over 10 billion in single-quarter profits with a single stroke, with actual operating profit this quarter being only 200 million, far below expectations. The impact of the food delivery war is much greater than anticipated, with the core points as follows: 1. Subsidies offset delivery income: This quarter, the year-on-year growth rate of delivery income plummeted to only 2.8%. Although the reduction in shipping fees for merchants/consumers is expected to be reflected as a deduction in delivery income...

The warm-up match has already swallowed billions in profits! Is Meituan really facing a 'wolf at the door' this time?

Southbound funds increased holdings in Meituan by 1.536 million shares on November 21

KFC announces it will test new products on Meituan's platform next year.

Meituan participates in the strategic placement of domestic GPU company Moore Threads

Meituan launches rider apartment project to provide affordable housing in urban areas

Meituan's Keeta Faces a Hard Battle of Localization and Fierce Competition in Dubai, Middle East

Hong Kong Stocks Plunge, Meituan Closes Down 3%

Meituan's Xiaoxiang Supermarket Officially Launches in Xi'an, Expanding Instant Retail Business

Cold wave drives a surge in online restaurant reservations, with Meituan's average daily winter bookings increasing by 30%

Meituan launches multiple rider care initiatives, including discounted meals in collaboration with KFC

Meituan Expands Business in the Middle East via Keeta

Popularity of Milk Skin Candy Increases on Meituan and Hema Platforms

Meituan agent fined in Xinjiang for unfair competition practices

Meituan App on HarmonyOS receives a major update, fully supporting the Live Window feature

Meituan's "Pinhaofan" business grows rapidly, attracting major brands like KFC.

Meituan's Xiaoxiang Supermarket plans to open a new location in Fuzhou in mid-December.

Data shows a net Southbound fund inflow of HK$338 million into Meituan on November 21.

JD.com's Independent Takeaway App May Intensify Competition in the Food Delivery Market

Douyin's local life services grow by nearly 60%, potentially creating competitive pressure for Meituan

Meituan Releases Technical Report on Large Model Interaction System WOWService

Meituan and Didi engage in head-to-head competition in Brazil's food delivery market

SEVEN HILLS RLTY TR COM USD0.001 (S/R 04/12/2025)

Foxx Development

Palatin Tech

Mobile-Health Network Solutions

Nuvve

Datavault AI

CCSC Tech

Iveda Solutions

Harrison Global

Alps

Earning Release Date

财报预告

FY2025 Q3 Earning Release 2025.11.27 (EST) Pre-Market

Meituan (03690.HK) Q3 2025 Earnings Conference Call

Meituan (03690.HK) Q2 2025 Earnings Conference Call

Meituan (03690.HK) Q1 2025 Earnings Conference Call

Meituan (03690.HK) Q4 2024 and Full Year Earnings Conference Call

Meituan (03690.HK) 2024 Third Quarter Earnings Conference Call

Luckin Coffee

Chagee

Doordash

Compass Group

Chipotle Mexican Grill

Darden Restaurants

YUM China

Texas Roadhouse

Aramark

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