Leju Holdings Ltd Financial News Wu Wenting May 27th, Lyon released a report expected$Meituan-W (03690.HK) $Total revenue in the first quarter was 45.05 billion yuan, slowing to 21.7% year-on-year growth (30.6% in the fourth quarter of last year). The adjusted net loss was 4.664 billion yuan, an increase of 19.8% over the same period last year. The adjusted operating loss of the new business is expected to narrow to 9.398 billion yuan (compared with a loss of 10.205 billion yuan in the fourth quarter of last year).

As Meituan accounts for more than 20% of his business in Shanghai and Shenzhen, the bank expects core food distribution and store income of 31.3 billion yuan in the first quarter, slowing down to 15% year-on-year growth in the first quarter. It is expected that core income growth will slow to a low number of units in the second quarter, and it is believed that it will rebound quickly after the closure measures are lifted.

In view of the uncertainty of the closure measures, the bank lowered Meituan's adjusted net profit forecast for 2022 and 2023 by 3.3 billion yuan, and changed its forecast for the renminbi against the US dollar from 6.5 to 6.8. Meituan's target price was correspondingly lowered from HK $370 to HK $310, with a "buy" rating.