According to the Zhuotong Financial APP, Futu issued a research report stating a 'buy' rating for Meituan-W (03690) with a target price of 150 Hong Kong dollars. The company proposes to issue US dollar-denominated senior notes.

The bank pointed out that the batch of notes has no details, but the company announced that they will mainly be used for refinancing existing offshore debts and other business purposes. The bank believes that for the market, this move is not completely unexpected, as Meituan's interim report has disclosed the company's need to re-support US dollar payment obligations.

On the other hand, Futu believes that Meituan has strong execution capabilities, raising its core local business income and operating profit prospects, and also agreeing with the synergistic effect of the company's various business sectors, with improvements in the fundamental performance of Meituan Optimal; Meituan's data disclosed for the first two days of the Mid-Autumn Festival holiday also show stable performance.