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《大行》中金:美團(03690.HK)收縮社區團購業務 聚焦核心
阿思達克 06-25 14:59
中金發表研究報告,指美團-W(03690.HK)收縮社區團購業務,聚焦核心。美團旗下美團優選進一步收縮,後續將聚焦重點業務發展。美團優選被報道關停部分區域,後續將聚焦優勢區域,僅保留廣東、杭州等地業務,收縮速度超市場預期。這意味著自2020年以來公司累計投入超800億元人民幣的業務,將不再肩負零售戰略的重任。同時,美團閃購和小象超市優先級提升:公司將全面拓展閃購品類,進一步拓展門店和閃電倉;繼續擴大小象超市覆蓋區域,逐步拓展到所有一、二線城市。此外,公司亦強調保持海外積極開拓節奏。 中金維持美團盈利預測,維持「跑贏行業」評級及目標價177港元,對應預測2025和2026年經調整市盈率分別25倍及18倍。
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