$Meituan-W (03690.HK)$Announced the performance for the second quarter of 2024. To be honest, given the weak macroeconomic conditions, I don't have too high expectations, but the overall performance is still not disappointing. It is not much different from what was written in the first quarter, where Meituan's performance was impressive with both revenue and profit. Although Meituan's stock price has been relatively soft over the past three months, compared to the performance of the Hang Seng Index, which fell from 18,476 points on June 6th to 17,692 points on August 28th, a decrease of 4.2%, Meituan's stock price fell from 112.7 yuan on June 6th to 102.8 yuan on August 28th, a decrease of 8.8%. However, Meituan's performance is better than the performance of the Technology sector, where the Hang Seng Tech Index fell from 3,840 points to 3,445 points during the same period, a cumulative decrease of 10.3%. Considering that Meituan is a high beta stock and the recent theme of consumer decline, I still think the performance is relatively reasonable and there is no need to change my opinion at the moment.Given the weak macroeconomic conditionshe overall performance is still not disappointing.Meituan's first quarter performance was impressive, with both revenue and profit surprising.There is not much difference. Although Meituan's stock price has been relatively soft over the past three months $Hang Seng Index (800000.HK)$ the performance is underperforming compared to the Hang Seng Index. The Hang Seng Index fell from 18,476 points on June 6th to 17,692 points on August 28th, a decrease of 4.2%; while Meituan's stock price fell from 112.7 yuan on June 6th to 102.8 yuan on August 28th, a decrease of 8.8%. However, the performance is better than the Technology sector, which fell from 3,840 points to 3,445 points during the same period, a cumulative decrease of 10.3%. $Hang Seng TECH Index (800700.HK)$ Considering that Meituan is a high beta stock and the recent theme of consumer decline, I still think the performance is relatively reasonable and there is no need to change my opinion at the moment.
The company's revenue in the second quarter of this year increased by 21% to 82.25 billion yuan (RMB: the same below), outperformingexceeding market expectations.Adjusted EBITDA and adjusted net profit for the quarter increased by 15 billion yuan and 13.6 billion yuan respectively, both showingfar exceeding market expectationsIn addition, the performance of core local business income and income from new businesses...