Bocom Intl's research report indicates that Meituan's performance is resilient, with industry competition easing. Second-quarter revenue increased by 21% year-on-year, exceeding the bank's and market expectations. The bank now expects Meituan's revenue and adjusted operating profit to grow better than previously expected, with core local business revenue expected to increase by 20% year-on-year this year. This is mainly driven by the rise in advertising investment for food delivery and flash sale business, while the Gross Merchandise Volume (GMV) of in-store commodity transactions will maintain a 35% year-on-year growth, driven by commissions and merchant advertising. The bank expects this year's adjusted operating profit to exceed 40 billion yuan, with core local business adjusted operating profit expected to increase by 23% to 48.5 billion yuan year-on-year.

Bocom Intl has raised its net profit forecast for the company for the next two years by 7.5% and 2% respectively, with net profits expected to increase by 70% and 20% respectively. The target price has been raised from 129 Hong Kong dollars to 136 Hong Kong dollars, while maintaining a 'buy' rating.