Benchmark Downgrades Meituan to Hold, Removes HK$145 Price Target
Benchmark downgraded Meituan to Hold from Buy and removed the firm's prior HK$145 price target on shares in anticipation of a prolonged period of heightened competition across food delivery, instant commerce, and local services. Such conditions will prolong revenue headwinds and necessitate sustained promotional and ecosystem investments, the analyst tells investors.
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HSI Declines by 199 Points; SANDS CHINA LTD Plummets 5%
Market Overview: The HSI opened 199 points lower at 27,627, with the HSCEI and HSTECH also experiencing declines of 60 points and 46 points, respectively.
Sands China Ltd Performance: Sands China Ltd saw a significant drop of 7.43% at open, despite a 16.4% YoY increase in net revenue for Q4 2025, as its adjusted property EBITDA fell short of forecasts.
Tech Stocks Movement: Major tech stocks like Tencent and Alibaba opened down by 1-1.4%, while Kuaishou saw a slight increase of 2.61%.
Gold and Mining Stocks: Gold and silver prices surged, leading to mixed performances among mining stocks, with some like SD Gold and Zhaojin Mining opening higher, while others like Chinagoldintl experienced a decline.
Guangzhou Plans to Distribute RMB50 Million in Dining Vouchers in Several Phases During Spring Festival
Government Dining Vouchers: Guangzhou will distribute RMB50 million in dining vouchers before and after the Spring Festival to promote local dining experiences.
Collaboration with Platforms: The initiative will utilize platforms like MEITUAN-W and Douyin to offer commercial discount coupons for residents and visitors.
E-commerce Mobilization: Guangzhou plans to engage e-commerce platforms and brand merchants such as Vipshop, JD-SW, and Alibaba to meet holiday demand.
Enhancing Shopping Experience: The city aims to boost online shopping by diversifying product categories, increasing discounts, and innovating consumption experiences.
