View ValuationMeituan 将来の成長Future 基準チェック /46Meituan利益と収益がそれぞれ年間67.3%と10%増加すると予測されています。EPS は年間 増加すると予想されています。自己資本利益率は 3 年後に18.3% 68.9%なると予測されています。主要情報67.3%収益成長率68.93%EPS成長率Hospitality 収益成長20.7%収益成長率10.0%将来の株主資本利益率18.26%アナリストカバレッジGood最終更新日18 May 2026今後の成長に関する最新情報お知らせ • Feb 13Meituan Provides Earning Guidance for the Year Ended December 31, 2025Meituan provided earning guidance for the year ended December 31, 2025. For the period, the Group expects to record a loss in the range of approximately RMB 23,300 million to RMB 24,300 million for the year ended December 31, 2025 (the "FY2025"), as compared to a profit of approximately RMB 35,808 million for the year ended December 31, 2024 (the "FY2024"). The expected loss of the Group in FY2025 was primarily due to a reversal from an operating profit of approximately RMB 52,415 million in FY2024 to an operating loss of approximately RMB 6,800 million to RMB 7,000 million in FY2025 for the Core Local Commerce segment, together with increased investments in the Group's overseas businesses. In particular, in response to the unprecedentedly intense industry competition in FY2025, the Group strategically increased investments across its entire ecosystem to strengthen its core advantages and drive sustainable growth. These initiatives mainly included: (i) on the consumer front, enhancing marketing and promotional efforts to strengthen brand awareness and price competitiveness, thereby continuously improving user transaction activity and engagement; (ii) on the delivery front, increasing incentives and enriching benefits for couriers to ensure service quality and enhance user experience; and (iii) on the merchant front, maintaining proactive resource investment to support merchants in improving operational efficiency, expanding consumer reach, iterating business models, and achieving steady growth.すべての更新を表示Recent updatesお知らせ • 15hMeituan to Report Q1, 2026 Results on Jun 01, 2026Meituan announced that they will report Q1, 2026 results After-Market on Jun 01, 2026お知らせ • Mar 16Meituan to Report Fiscal Year 2025 Results on Mar 26, 2026Meituan announced that they will report fiscal year 2025 results on Mar 26, 2026お知らせ • Feb 13Meituan Provides Earning Guidance for the Year Ended December 31, 2025Meituan provided earning guidance for the year ended December 31, 2025. For the period, the Group expects to record a loss in the range of approximately RMB 23,300 million to RMB 24,300 million for the year ended December 31, 2025 (the "FY2025"), as compared to a profit of approximately RMB 35,808 million for the year ended December 31, 2024 (the "FY2024"). The expected loss of the Group in FY2025 was primarily due to a reversal from an operating profit of approximately RMB 52,415 million in FY2024 to an operating loss of approximately RMB 6,800 million to RMB 7,000 million in FY2025 for the Core Local Commerce segment, together with increased investments in the Group's overseas businesses. In particular, in response to the unprecedentedly intense industry competition in FY2025, the Group strategically increased investments across its entire ecosystem to strengthen its core advantages and drive sustainable growth. These initiatives mainly included: (i) on the consumer front, enhancing marketing and promotional efforts to strengthen brand awareness and price competitiveness, thereby continuously improving user transaction activity and engagement; (ii) on the delivery front, increasing incentives and enriching benefits for couriers to ensure service quality and enhance user experience; and (iii) on the merchant front, maintaining proactive resource investment to support merchants in improving operational efficiency, expanding consumer reach, iterating business models, and achieving steady growth.お知らせ • Nov 18Meituan to Report Q3, 2025 Results on Nov 28, 2025Meituan announced that they will report Q3, 2025 results on Nov 28, 2025お知らせ • Aug 17Meituan to Report First Half, 2025 Results on Aug 27, 2025Meituan announced that they will report first half, 2025 results on Aug 27, 2025お知らせ • Jun 25Naspers May Sell Part of Its 4% Stake in MeituanNaspers Limited (JSE:NPN) is prepared to sell down its ZAR 71 billion stake in the world's largest food delivery company following moves by China's Meituan (SEHK:3690) to enter Brazil, a market in which the JSE-listed group is already dominant. In May, Chinese technology and delivery giant Meituan said it was preparing to launch its food delivery service, Keeta, in Brazil. The company plans to invest $1 billion (ZAR 17.78 billion) over the next five years to establish and expand its operations in the country. This expansion marks Meituan's entry into the South American market. For Naspers, which holds a stake in Meituan of about 4%, the move presents a conundrum as it already operates one of the largest food delivery businesses in the region, iFood. Meituan's entry would see two of its associated companies directly competing in Brazil. During an investor call late on Monday, Naspers and Prosus CEO Fabricio Bloisi said the group may sell part of the stake in Meituan, using the funds to invest in its own e-commerce businesses. The former iFood CEO is bearish about the Chinese company's ability to crack the Latin America market, saying there is a high chance of failure. "Our strategy is to invest more in companies that reinforce our ecosystem and we are going to keep doing that aggressively. I think Meituan has less probability of winning internationally," said Bloisi. "They are going to face some tough competition. As a Meituan shareholder I am disappointed because their risk of failing increases. Therefore, we might sell part of the Meituan shares, [to invest] in other areas with more connection to our existing ecosystems." Such a move is likely to unlock a big cash pile for Naspers, whose Meituan stake is valued about $4 billion (ZAR 71.1 billion). Naspers acquired this stake in 2022 after Chinese internet giant Tencent decided to distribute its 17% stake in Meituan to shareholders. "If we say let's invest more in some businesses in Latin America that we believe will reinforce our ecosystem, we could sell part of [our] Meituan shares, or everything that we think is reasonable, to invest more to reinforce our ecosystem," Bloisi said. "And we are going to do that, looking to our shareholders. If we have opportunities to grow faster and better than Meituan in some of our ecosystems, we will do it." For Meituan, this move is part a broader global expansion strategy, following its previous expansions into Hong Kong and the Middle East.Valuation Update With 7 Day Price Move • Jun 24Investor sentiment deteriorates as stock falls 21%After last week's 21% share price decline to €14.26, the stock trades at a trailing P/E ratio of 17.9x. Average forward P/E is 15x in the Hospitality industry in Europe.お知らせ • May 16Meituan, Annual General Meeting, Jun 09, 2025Meituan, Annual General Meeting, Jun 09, 2025, at 14:00 China Standard Time. Location: meituan exhibition center, block a, hengjiweiye building, no. 4 wang jing east road, chaoyang district, beijing., Chinaお知らせ • May 14Meituan to Report Q1, 2025 Results on May 26, 2025Meituan announced that they will report Q1, 2025 results on May 26, 2025Reported Earnings • Mar 22Full year 2024 earnings released: EPS: CN¥5.85 (vs CN¥2.23 in FY 2023)Full year 2024 results: EPS: CN¥5.85 (up from CN¥2.23 in FY 2023). Revenue: CN¥337.6b (up 22% from FY 2023). Net income: CN¥35.8b (up 158% from FY 2023). Profit margin: 11% (up from 5.0% in FY 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Hospitality industry in Europe.お知らせ • Mar 11Meituan to Report Fiscal Year 2024 Results on Mar 21, 2025Meituan announced that they will report fiscal year 2024 results on Mar 21, 2025お知らせ • Feb 28KKR, Fountainvest and PAG Reportedly Among Those Eyeing Starbucks China StakeKKR & Co (KKR.N), Fountainvest Partners and PAG are among buyout firms interested in acquiring a stake in Starbucks Corporation (NasdaqGS:SBUX) China business (Starbucks (China) Company Limited), four sources said, as the U.S. coffee chain looks to revive flagging sales in its second-largest market. Chinese companies, including state-owned conglomerate China Resources (Holdings) Co., Ltd. and food delivery giant Meituan (SEHK:3690), have also been approached as potential buyers, said one of the sources with knowledge of the matter. Starbucks' Executive Vice President and Chief Financial Officer, Rachel Ruggeri, is expected to be among senior company executives visiting China in the coming weeks to hold sale talks, said two of the four sources. All the sources spoke on condition of anonymity as the information is not public yet. The talks come as Starbucks CEO Brian Niccol, who took the top job at the coffee chain in August, faces the daunting task of steering the company back to growth amid falling demand in the U.S. and China as well as a decline in its share price. Starbucks said on February 24, 2025 it would eliminate 1,100 corporate roles as Niccol's "Back to Starbucks" plan focuses on streamlining business through job cuts and by improving customer experience at its U.S. stores. The size of the stake to be sold in Starbucks' China business has not been determined and would be subject to negotiations, the sources said. The names of the interested bidders have not been previously reported. The Seattle-based company would likely prefer a franchisee deal with a strategic partner as part of a stake sale plan, said two of the sources. In a franchisee deal, Starbucks China would be valued at more than $1 billion, they added. A Starbucks spokesperson declined to confirm the content of the story and referred Reuters request for comment to Niccol's remarks on China at the earnings call in January, after his first market visit to China. Niccol said at the time that he saw several near-term changes Starbucks could make to strengthen its business while continuing to explore strategic partnerships to grow in China. KKR, PAG and China Resources declined to comment, while Fountainvest and Meituan did not respond. Starbucks is aiming to reach a deal for its China business by the end of this year, although the structure of the potential transaction has not been finalised and is subject to changes, two of the sources said. In China, the chain is dealing with sluggish economic growth and stiff competition from local brands such as Luckin Coffee, which has gained market share with cheaper products and wider coverage in lower-tier cities. Starbucks has been in informal talks with several private equity firms and companies since the second half of 2024 about strategic options for its business in China, home to more than a fifth of all Starbucks stores, the sources said.お知らせ • Nov 19Meituan to Report Q3, 2024 Results on Nov 29, 2024Meituan announced that they will report Q3, 2024 results on Nov 29, 2024お知らせ • Aug 29Meituan (SEHK:3690) announces an Equity Buyback.Meituan (SEHK:3690) announces a share repurchase program. Under the program, the company will repurchase up to $1,000 million worth of its Class B ordinary shares.お知らせ • Aug 15Meituan to Report First Half, 2024 Results on Aug 28, 2024Meituan announced that they will report first half, 2024 results on Aug 28, 2024Reported Earnings • Jun 08First quarter 2024 earnings releasedFirst quarter 2024 results: Revenue: CN¥73.3b (up 25% from 1Q 2023). Net income: CN¥5.37b (up 60% from 1Q 2023). Profit margin: 7.3% (up from 5.7% in 1Q 2023). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Hospitality industry in Europe.お知らせ • May 25Meituan to Report Q1, 2024 Results on Jun 06, 2024Meituan announced that they will report Q1, 2024 results After-Market on Jun 06, 2024Recent Insider Transactions • May 03Co-Founder recently sold €14m worth of stockOn the 26th of April, Rongjun Mu sold around 1m shares on-market at roughly €13.85 per share. This transaction amounted to 2.6% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Rongjun has been a net seller over the last 12 months, reducing personal holdings by €57m.Reported Earnings • Apr 30Full year 2023 earnings released: EPS: CN¥2.23 (vs CN¥1.09 loss in FY 2022)Full year 2023 results: EPS: CN¥2.23 (up from CN¥1.09 loss in FY 2022). Revenue: CN¥276.7b (up 26% from FY 2022). Net income: CN¥13.9b (up CN¥20.5b from FY 2022). Profit margin: 5.0% (up from net loss in FY 2022). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 8.0% growth forecast for the Hospitality industry in Europe.Valuation Update With 7 Day Price Move • Apr 25Investor sentiment improves as stock rises 17%After last week's 17% share price gain to €13.57, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 14x in the Hospitality industry in Europe. Total loss to shareholders of 11% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €20.97 per share.Reported Earnings • Mar 24Full year 2023 earnings released: EPS: CN¥2.23 (vs CN¥1.09 loss in FY 2022)Full year 2023 results: EPS: CN¥2.23 (up from CN¥1.09 loss in FY 2022). Revenue: CN¥276.7b (up 26% from FY 2022). Net income: CN¥13.9b (up CN¥20.5b from FY 2022). Profit margin: 5.0% (up from net loss in FY 2022). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Hospitality industry in Europe.お知らせ • Mar 22Meituan Appoints Marjorie Mun Tak Yang as Member of the Audit CommitteeMeituan announced that, Ms. Marjorie Mun Tak Yang (Ms. Yang), an independent non-executive director of the company, has been appointed as a member of the audit committee of the company (the audit committee), with effect from March 22, 2024.お知らせ • Mar 13Meituan to Report Q4, 2023 Results on Mar 22, 2024Meituan announced that they will report Q4, 2023 results After-Market on Mar 22, 2024New Risk • Mar 02New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Bulgarian stocks, typically moving 7.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (7.3% average weekly change). Large one-off items impacting financial results.Valuation Update With 7 Day Price Move • Nov 29Investor sentiment deteriorates as stock falls 18%After last week's 18% share price decline to €10.68, the stock trades at a forward P/E ratio of 32x. Average forward P/E is 15x in the Hospitality industry in Europe. Total loss to shareholders of 49% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €20.43 per share.お知らせ • Nov 17Meituan to Report Q3, 2023 Results on Nov 28, 2023Meituan announced that they will report Q3, 2023 results After-Market on Nov 28, 2023New Risk • Oct 05New minor risk - Insider sellingThere has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: €28m This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (6.2% average weekly change). Large one-off items impacting financial results. Significant insider selling over the past 3 months (€28m sold).Recent Insider Transactions • Oct 05Co-Founder recently sold €14m worth of stockOn the 27th of September, Rongjun Mu sold around 1m shares on-market at roughly €13.98 per share. This transaction amounted to 2.8% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Rongjun has been a net seller over the last 12 months, reducing personal holdings by €69m.Reported Earnings • Oct 01Second quarter 2023 earnings released: EPS: CN¥0.75 (vs CN¥0.18 loss in 2Q 2022)Second quarter 2023 results: EPS: CN¥0.75 (up from CN¥0.18 loss in 2Q 2022). Revenue: CN¥68.0b (up 33% from 2Q 2022). Net income: CN¥4.69b (up CN¥5.80b from 2Q 2022). Profit margin: 6.9% (up from net loss in 2Q 2022). Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 8.5% growth forecast for the Hospitality industry in Europe.お知らせ • Aug 12Meituan to Report First Half, 2023 Results on Aug 24, 2023Meituan announced that they will report first half, 2023 results on Aug 24, 2023Recent Insider Transactions • Jul 07Co-Founder recently sold €2.4m worth of stockOn the 30th of June, Rongjun Mu sold around 167k shares on-market at roughly €14.31 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Rongjun has been a net seller over the last 12 months, reducing personal holdings by €41m.お知らせ • Jul 01Meituan Approves to Elect Marjorie Mun Tak Yang as an Independent Non-Executive DirectorMeituan at its AGM held on June 30, 2023, approved to elect Ms. Marjorie Mun Tak Yang as an independent non-executive Director.お知らせ • Jun 27Meituan Announces Executive ChangesMeituan announced that Mr. Wang Huiwen has tendered his resignation as a non-executive director of the Company, a member of the nomination committee of the board of directors of the Company and an authorized representative of the Company each with effect from June 26, 2023, due to personal health reasons. Mr. Wang Huiwen confirmed that he has no disagreement with the Company and there are no circumstances related to his resignation above which need to be brought to the attention of the Stock Exchange and the shareholders of the Company. Following the Resignation, the Company announced that Mr. Mu Rongjun, executive Director, has been appointed as an Authorized Representative with effect from June 26, 2023. The company further announces that, following the Resignation, the composition of the Nomination Committee shall consist of Mr. Leng Xuesong and Dr. Shum Heung Yeung Harry, with Mr. Leng Xuesong continuously serving as the chairman of the Nomination Committee.お知らせ • Jun 09Meituan, Annual General Meeting, Jun 30, 2023Meituan, Annual General Meeting, Jun 30, 2023, at 14:00 China Standard Time. Location: Command Center of Meituan Beijing Office, Block A Hengjiweiye Building, No. 4 Wang Jing East Road, Chaoyang District Beijing China Agenda: To receive and adopt the audited consolidated financial statements of the Company for the year ended December 31, 2022 and the reports of the Directors and independent auditor thereon; to consider conditional upon the passing of the special resolution set forth herein, to elect Ms. Marjorie Mun Tak Yang as an independent non-executive Director; to re-elect Mr. Wang Huiwen as a non-executive Director; to authorize the Board to fix the remuneration of the Directors; and to consider any other matters.Reported Earnings • May 30First quarter 2023 earnings releasedFirst quarter 2023 results: Revenue: CN¥58.6b (up 27% from 1Q 2022). Net income: CN¥3.36b (up CN¥9.06b from 1Q 2022). Profit margin: 5.7% (up from net loss in 1Q 2022). Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 8.6% growth forecast for the Hospitality industry in Europe.お知らせ • May 22Meituan Launches Food Delivery Brand KeeTa Amid Hong Kong DebutMeituan introduced KeeTa, a new food delivery brand as it officially launches in the Hong Kong market, to provide residents with more customized, efficient and reliable delivery services. Following the initial launch in Mong Kok and Tai Kok Tsui, the Company expects KeeTa to complete full coverage of the Hong Kong market by the end of this year. The KeeTa app is now available for download in major mobile app stores. Delivery services via KeeTa will start at 8:00 a.m., May 22, 2023 local time. Notable merchants that have joined KeeTa include brands like McDonald's, Maxim's MX (Mei Xin MX), KFC, Yoshinoya(Ji Ye Jia), Pacific Coffee, and popular food and beverage shops such as hana-musubi (Hua Yu Jie), Hung Fook Tong (Hong Fu Tang), and CHICHA San Chen(Chi Cha San Qian). Each newly registered KeeTa user will receive a gift coupon package valued at HKD 300, including special meal offers and delivery fee reductions.お知らせ • May 17Meituan to Report Q1, 2023 Results on May 25, 2023Meituan announced that they will report Q1, 2023 results After-Market on May 25, 2023Reported Earnings • Mar 25Full year 2022 earnings released: CN¥1.09 loss per share (vs CN¥3.90 loss in FY 2021)Full year 2022 results: CN¥1.09 loss per share (improved from CN¥3.90 loss in FY 2021). Revenue: CN¥220.0b (up 23% from FY 2021). Net loss: CN¥6.69b (loss narrowed 72% from FY 2021). Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Hospitality industry in Europe.Buying Opportunity • Mar 06Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 19%. The fair value is estimated to be €21.38, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 32% over the last 3 years. Earnings per share has declined by 91%.Buying Opportunity • Feb 04Now 20% undervaluedThe stock has been flat over the last 90 days. The fair value is estimated to be €25.39, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 32% over the last 3 years. Earnings per share has declined by 91%.Recent Insider Transactions • Jan 22Co-Founder recently sold €19m worth of stockOn the 17th of January, Rongjun Mu sold around 1m shares on-market at roughly €19.47 per share. This transaction amounted to 2.6% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Rongjun has been a net seller over the last 12 months, reducing personal holdings by €43m.Recent Insider Transactions • Jan 06Co-Founder & Executive Director recently sold €11m worth of stockOn the 29th of December, Huiwen Wang sold around 512k shares on-market at roughly €21.94 per share. This transaction amounted to 5.0% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Huiwen has been a net seller over the last 12 months, reducing personal holdings by €12m.Reported Earnings • Nov 26Third quarter 2022 earnings releasedThird quarter 2022 results: EPS: CN¥0.20. Revenue: CN¥62.6b (up 29% from 3Q 2021). Net income: CN¥1.22b (up CN¥11.2b from 3Q 2021). Profit margin: 1.9% (up from net loss in 3Q 2021). Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Online Retail industry in Europe.Board Change • Nov 17Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. No highly experienced directors. Independent Non-Executive Director Jeff Leng was the last director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment.業績と収益の成長予測BUL:9MD - アナリストの将来予測と過去の財務データ ( )CNY Millions日付収益収益フリー・キャッシュフロー営業活動によるキャッシュ平均アナリスト数12/31/2028514,49633,79240,12057,5722512/31/2027460,27920,46528,83440,6743412/31/2026404,416-9,87315,45112,0083712/31/2025364,855-23,355-27,086-13,815N/A9/30/2025362,373-1,9894,3909,619N/A6/30/2025360,46229,50836,01447,013N/A3/31/2025350,87340,49550,29761,296N/A12/31/2024337,59235,80746,14757,147N/A9/30/2024322,80031,80239,97050,678N/A6/30/2024305,69022,53041,70646,644N/A3/31/2024291,40315,86631,57438,453N/A12/31/2023276,74513,85633,64240,522N/A9/30/2023263,17810,55629,74134,192N/A6/30/2023249,3308,17927,92232,373N/A3/31/2023232,3042,37525,00830,739N/A12/31/2022219,955-6,6865,68011,411N/A9/30/2022209,349-10,9422,2408,928N/A6/30/2022195,560-22,153-11,195-4,507N/A3/31/2022188,380-24,394-19,870-10,859N/A12/31/2021179,128-23,538-13,022-4,011N/A9/30/2021168,155-20,444-14,337-961N/A6/30/2021154,508-4,128-11,9966,380N/A3/31/2021135,2691,439-6,0969,084N/A12/31/2020114,7954,708-7,3498,475N/A9/30/2020104,2058,411-2,5656,959N/A6/30/202096,2883,4251,7466,269N/A3/31/202094,2692,0921,0153,816N/A12/31/201996,7422,2392,5745,574N/A9/30/201988,272-2,644N/AN/AN/A6/30/201979,940-87,275N/A-3,816N/A3/31/201972,511-95,858N/AN/AN/A12/31/201864,771-115,477N/A-9,180N/A9/30/201855,756-114,213N/AN/AN/A6/30/201846,497-35,270N/A-4,381N/A3/31/201838,314-33,766N/AN/AN/A12/31/201733,928-18,917N/A-310N/A12/31/201612,988-10,894N/A-1,918N/A12/31/20154,019-9,231N/A-4,004N/Aもっと見るアナリストによる今後の成長予測収入対貯蓄率: 9MDは今後 3 年間で収益性が向上すると予測されており、これは 貯蓄率 ( 3.5% ) よりも高い成長率であると考えられます。収益対市場: 9MD今後 3 年間で収益性が向上すると予想されており、これは市場平均を上回る成長と考えられます。高成長収益: 9MD今後 3 年以内に収益を上げることが予想されます。収益対市場: 9MDの収益 ( 10% ) BG市場 ( 5.3% ) よりも速いペースで成長すると予測されています。高い収益成長: 9MDの収益 ( 10% ) 20%よりも低い成長が予測されています。一株当たり利益成長率予想将来の株主資本利益率将来のROE: 9MDの 自己資本利益率 は、3年後には低くなると予測されています ( 18.3 %)。成長企業の発掘7D1Y7D1Y7D1YConsumer-services 業界の高成長企業。View Past Performance企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/05/20 09:43終値2026/03/05 00:00収益2025/12/31年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレーク本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋Meituan 37 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。61 アナリスト機関Sau Shing ChowABCI Securities Company LimitedZixiao YangArete Research Services LLPJiong ShaoBarclays58 その他のアナリストを表示
お知らせ • Feb 13Meituan Provides Earning Guidance for the Year Ended December 31, 2025Meituan provided earning guidance for the year ended December 31, 2025. For the period, the Group expects to record a loss in the range of approximately RMB 23,300 million to RMB 24,300 million for the year ended December 31, 2025 (the "FY2025"), as compared to a profit of approximately RMB 35,808 million for the year ended December 31, 2024 (the "FY2024"). The expected loss of the Group in FY2025 was primarily due to a reversal from an operating profit of approximately RMB 52,415 million in FY2024 to an operating loss of approximately RMB 6,800 million to RMB 7,000 million in FY2025 for the Core Local Commerce segment, together with increased investments in the Group's overseas businesses. In particular, in response to the unprecedentedly intense industry competition in FY2025, the Group strategically increased investments across its entire ecosystem to strengthen its core advantages and drive sustainable growth. These initiatives mainly included: (i) on the consumer front, enhancing marketing and promotional efforts to strengthen brand awareness and price competitiveness, thereby continuously improving user transaction activity and engagement; (ii) on the delivery front, increasing incentives and enriching benefits for couriers to ensure service quality and enhance user experience; and (iii) on the merchant front, maintaining proactive resource investment to support merchants in improving operational efficiency, expanding consumer reach, iterating business models, and achieving steady growth.
お知らせ • 15hMeituan to Report Q1, 2026 Results on Jun 01, 2026Meituan announced that they will report Q1, 2026 results After-Market on Jun 01, 2026
お知らせ • Mar 16Meituan to Report Fiscal Year 2025 Results on Mar 26, 2026Meituan announced that they will report fiscal year 2025 results on Mar 26, 2026
お知らせ • Feb 13Meituan Provides Earning Guidance for the Year Ended December 31, 2025Meituan provided earning guidance for the year ended December 31, 2025. For the period, the Group expects to record a loss in the range of approximately RMB 23,300 million to RMB 24,300 million for the year ended December 31, 2025 (the "FY2025"), as compared to a profit of approximately RMB 35,808 million for the year ended December 31, 2024 (the "FY2024"). The expected loss of the Group in FY2025 was primarily due to a reversal from an operating profit of approximately RMB 52,415 million in FY2024 to an operating loss of approximately RMB 6,800 million to RMB 7,000 million in FY2025 for the Core Local Commerce segment, together with increased investments in the Group's overseas businesses. In particular, in response to the unprecedentedly intense industry competition in FY2025, the Group strategically increased investments across its entire ecosystem to strengthen its core advantages and drive sustainable growth. These initiatives mainly included: (i) on the consumer front, enhancing marketing and promotional efforts to strengthen brand awareness and price competitiveness, thereby continuously improving user transaction activity and engagement; (ii) on the delivery front, increasing incentives and enriching benefits for couriers to ensure service quality and enhance user experience; and (iii) on the merchant front, maintaining proactive resource investment to support merchants in improving operational efficiency, expanding consumer reach, iterating business models, and achieving steady growth.
お知らせ • Nov 18Meituan to Report Q3, 2025 Results on Nov 28, 2025Meituan announced that they will report Q3, 2025 results on Nov 28, 2025
お知らせ • Aug 17Meituan to Report First Half, 2025 Results on Aug 27, 2025Meituan announced that they will report first half, 2025 results on Aug 27, 2025
お知らせ • Jun 25Naspers May Sell Part of Its 4% Stake in MeituanNaspers Limited (JSE:NPN) is prepared to sell down its ZAR 71 billion stake in the world's largest food delivery company following moves by China's Meituan (SEHK:3690) to enter Brazil, a market in which the JSE-listed group is already dominant. In May, Chinese technology and delivery giant Meituan said it was preparing to launch its food delivery service, Keeta, in Brazil. The company plans to invest $1 billion (ZAR 17.78 billion) over the next five years to establish and expand its operations in the country. This expansion marks Meituan's entry into the South American market. For Naspers, which holds a stake in Meituan of about 4%, the move presents a conundrum as it already operates one of the largest food delivery businesses in the region, iFood. Meituan's entry would see two of its associated companies directly competing in Brazil. During an investor call late on Monday, Naspers and Prosus CEO Fabricio Bloisi said the group may sell part of the stake in Meituan, using the funds to invest in its own e-commerce businesses. The former iFood CEO is bearish about the Chinese company's ability to crack the Latin America market, saying there is a high chance of failure. "Our strategy is to invest more in companies that reinforce our ecosystem and we are going to keep doing that aggressively. I think Meituan has less probability of winning internationally," said Bloisi. "They are going to face some tough competition. As a Meituan shareholder I am disappointed because their risk of failing increases. Therefore, we might sell part of the Meituan shares, [to invest] in other areas with more connection to our existing ecosystems." Such a move is likely to unlock a big cash pile for Naspers, whose Meituan stake is valued about $4 billion (ZAR 71.1 billion). Naspers acquired this stake in 2022 after Chinese internet giant Tencent decided to distribute its 17% stake in Meituan to shareholders. "If we say let's invest more in some businesses in Latin America that we believe will reinforce our ecosystem, we could sell part of [our] Meituan shares, or everything that we think is reasonable, to invest more to reinforce our ecosystem," Bloisi said. "And we are going to do that, looking to our shareholders. If we have opportunities to grow faster and better than Meituan in some of our ecosystems, we will do it." For Meituan, this move is part a broader global expansion strategy, following its previous expansions into Hong Kong and the Middle East.
Valuation Update With 7 Day Price Move • Jun 24Investor sentiment deteriorates as stock falls 21%After last week's 21% share price decline to €14.26, the stock trades at a trailing P/E ratio of 17.9x. Average forward P/E is 15x in the Hospitality industry in Europe.
お知らせ • May 16Meituan, Annual General Meeting, Jun 09, 2025Meituan, Annual General Meeting, Jun 09, 2025, at 14:00 China Standard Time. Location: meituan exhibition center, block a, hengjiweiye building, no. 4 wang jing east road, chaoyang district, beijing., China
お知らせ • May 14Meituan to Report Q1, 2025 Results on May 26, 2025Meituan announced that they will report Q1, 2025 results on May 26, 2025
Reported Earnings • Mar 22Full year 2024 earnings released: EPS: CN¥5.85 (vs CN¥2.23 in FY 2023)Full year 2024 results: EPS: CN¥5.85 (up from CN¥2.23 in FY 2023). Revenue: CN¥337.6b (up 22% from FY 2023). Net income: CN¥35.8b (up 158% from FY 2023). Profit margin: 11% (up from 5.0% in FY 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Hospitality industry in Europe.
お知らせ • Mar 11Meituan to Report Fiscal Year 2024 Results on Mar 21, 2025Meituan announced that they will report fiscal year 2024 results on Mar 21, 2025
お知らせ • Feb 28KKR, Fountainvest and PAG Reportedly Among Those Eyeing Starbucks China StakeKKR & Co (KKR.N), Fountainvest Partners and PAG are among buyout firms interested in acquiring a stake in Starbucks Corporation (NasdaqGS:SBUX) China business (Starbucks (China) Company Limited), four sources said, as the U.S. coffee chain looks to revive flagging sales in its second-largest market. Chinese companies, including state-owned conglomerate China Resources (Holdings) Co., Ltd. and food delivery giant Meituan (SEHK:3690), have also been approached as potential buyers, said one of the sources with knowledge of the matter. Starbucks' Executive Vice President and Chief Financial Officer, Rachel Ruggeri, is expected to be among senior company executives visiting China in the coming weeks to hold sale talks, said two of the four sources. All the sources spoke on condition of anonymity as the information is not public yet. The talks come as Starbucks CEO Brian Niccol, who took the top job at the coffee chain in August, faces the daunting task of steering the company back to growth amid falling demand in the U.S. and China as well as a decline in its share price. Starbucks said on February 24, 2025 it would eliminate 1,100 corporate roles as Niccol's "Back to Starbucks" plan focuses on streamlining business through job cuts and by improving customer experience at its U.S. stores. The size of the stake to be sold in Starbucks' China business has not been determined and would be subject to negotiations, the sources said. The names of the interested bidders have not been previously reported. The Seattle-based company would likely prefer a franchisee deal with a strategic partner as part of a stake sale plan, said two of the sources. In a franchisee deal, Starbucks China would be valued at more than $1 billion, they added. A Starbucks spokesperson declined to confirm the content of the story and referred Reuters request for comment to Niccol's remarks on China at the earnings call in January, after his first market visit to China. Niccol said at the time that he saw several near-term changes Starbucks could make to strengthen its business while continuing to explore strategic partnerships to grow in China. KKR, PAG and China Resources declined to comment, while Fountainvest and Meituan did not respond. Starbucks is aiming to reach a deal for its China business by the end of this year, although the structure of the potential transaction has not been finalised and is subject to changes, two of the sources said. In China, the chain is dealing with sluggish economic growth and stiff competition from local brands such as Luckin Coffee, which has gained market share with cheaper products and wider coverage in lower-tier cities. Starbucks has been in informal talks with several private equity firms and companies since the second half of 2024 about strategic options for its business in China, home to more than a fifth of all Starbucks stores, the sources said.
お知らせ • Nov 19Meituan to Report Q3, 2024 Results on Nov 29, 2024Meituan announced that they will report Q3, 2024 results on Nov 29, 2024
お知らせ • Aug 29Meituan (SEHK:3690) announces an Equity Buyback.Meituan (SEHK:3690) announces a share repurchase program. Under the program, the company will repurchase up to $1,000 million worth of its Class B ordinary shares.
お知らせ • Aug 15Meituan to Report First Half, 2024 Results on Aug 28, 2024Meituan announced that they will report first half, 2024 results on Aug 28, 2024
Reported Earnings • Jun 08First quarter 2024 earnings releasedFirst quarter 2024 results: Revenue: CN¥73.3b (up 25% from 1Q 2023). Net income: CN¥5.37b (up 60% from 1Q 2023). Profit margin: 7.3% (up from 5.7% in 1Q 2023). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Hospitality industry in Europe.
お知らせ • May 25Meituan to Report Q1, 2024 Results on Jun 06, 2024Meituan announced that they will report Q1, 2024 results After-Market on Jun 06, 2024
Recent Insider Transactions • May 03Co-Founder recently sold €14m worth of stockOn the 26th of April, Rongjun Mu sold around 1m shares on-market at roughly €13.85 per share. This transaction amounted to 2.6% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Rongjun has been a net seller over the last 12 months, reducing personal holdings by €57m.
Reported Earnings • Apr 30Full year 2023 earnings released: EPS: CN¥2.23 (vs CN¥1.09 loss in FY 2022)Full year 2023 results: EPS: CN¥2.23 (up from CN¥1.09 loss in FY 2022). Revenue: CN¥276.7b (up 26% from FY 2022). Net income: CN¥13.9b (up CN¥20.5b from FY 2022). Profit margin: 5.0% (up from net loss in FY 2022). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 8.0% growth forecast for the Hospitality industry in Europe.
Valuation Update With 7 Day Price Move • Apr 25Investor sentiment improves as stock rises 17%After last week's 17% share price gain to €13.57, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 14x in the Hospitality industry in Europe. Total loss to shareholders of 11% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €20.97 per share.
Reported Earnings • Mar 24Full year 2023 earnings released: EPS: CN¥2.23 (vs CN¥1.09 loss in FY 2022)Full year 2023 results: EPS: CN¥2.23 (up from CN¥1.09 loss in FY 2022). Revenue: CN¥276.7b (up 26% from FY 2022). Net income: CN¥13.9b (up CN¥20.5b from FY 2022). Profit margin: 5.0% (up from net loss in FY 2022). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Hospitality industry in Europe.
お知らせ • Mar 22Meituan Appoints Marjorie Mun Tak Yang as Member of the Audit CommitteeMeituan announced that, Ms. Marjorie Mun Tak Yang (Ms. Yang), an independent non-executive director of the company, has been appointed as a member of the audit committee of the company (the audit committee), with effect from March 22, 2024.
お知らせ • Mar 13Meituan to Report Q4, 2023 Results on Mar 22, 2024Meituan announced that they will report Q4, 2023 results After-Market on Mar 22, 2024
New Risk • Mar 02New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Bulgarian stocks, typically moving 7.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (7.3% average weekly change). Large one-off items impacting financial results.
Valuation Update With 7 Day Price Move • Nov 29Investor sentiment deteriorates as stock falls 18%After last week's 18% share price decline to €10.68, the stock trades at a forward P/E ratio of 32x. Average forward P/E is 15x in the Hospitality industry in Europe. Total loss to shareholders of 49% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €20.43 per share.
お知らせ • Nov 17Meituan to Report Q3, 2023 Results on Nov 28, 2023Meituan announced that they will report Q3, 2023 results After-Market on Nov 28, 2023
New Risk • Oct 05New minor risk - Insider sellingThere has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: €28m This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (6.2% average weekly change). Large one-off items impacting financial results. Significant insider selling over the past 3 months (€28m sold).
Recent Insider Transactions • Oct 05Co-Founder recently sold €14m worth of stockOn the 27th of September, Rongjun Mu sold around 1m shares on-market at roughly €13.98 per share. This transaction amounted to 2.8% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Rongjun has been a net seller over the last 12 months, reducing personal holdings by €69m.
Reported Earnings • Oct 01Second quarter 2023 earnings released: EPS: CN¥0.75 (vs CN¥0.18 loss in 2Q 2022)Second quarter 2023 results: EPS: CN¥0.75 (up from CN¥0.18 loss in 2Q 2022). Revenue: CN¥68.0b (up 33% from 2Q 2022). Net income: CN¥4.69b (up CN¥5.80b from 2Q 2022). Profit margin: 6.9% (up from net loss in 2Q 2022). Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 8.5% growth forecast for the Hospitality industry in Europe.
お知らせ • Aug 12Meituan to Report First Half, 2023 Results on Aug 24, 2023Meituan announced that they will report first half, 2023 results on Aug 24, 2023
Recent Insider Transactions • Jul 07Co-Founder recently sold €2.4m worth of stockOn the 30th of June, Rongjun Mu sold around 167k shares on-market at roughly €14.31 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Rongjun has been a net seller over the last 12 months, reducing personal holdings by €41m.
お知らせ • Jul 01Meituan Approves to Elect Marjorie Mun Tak Yang as an Independent Non-Executive DirectorMeituan at its AGM held on June 30, 2023, approved to elect Ms. Marjorie Mun Tak Yang as an independent non-executive Director.
お知らせ • Jun 27Meituan Announces Executive ChangesMeituan announced that Mr. Wang Huiwen has tendered his resignation as a non-executive director of the Company, a member of the nomination committee of the board of directors of the Company and an authorized representative of the Company each with effect from June 26, 2023, due to personal health reasons. Mr. Wang Huiwen confirmed that he has no disagreement with the Company and there are no circumstances related to his resignation above which need to be brought to the attention of the Stock Exchange and the shareholders of the Company. Following the Resignation, the Company announced that Mr. Mu Rongjun, executive Director, has been appointed as an Authorized Representative with effect from June 26, 2023. The company further announces that, following the Resignation, the composition of the Nomination Committee shall consist of Mr. Leng Xuesong and Dr. Shum Heung Yeung Harry, with Mr. Leng Xuesong continuously serving as the chairman of the Nomination Committee.
お知らせ • Jun 09Meituan, Annual General Meeting, Jun 30, 2023Meituan, Annual General Meeting, Jun 30, 2023, at 14:00 China Standard Time. Location: Command Center of Meituan Beijing Office, Block A Hengjiweiye Building, No. 4 Wang Jing East Road, Chaoyang District Beijing China Agenda: To receive and adopt the audited consolidated financial statements of the Company for the year ended December 31, 2022 and the reports of the Directors and independent auditor thereon; to consider conditional upon the passing of the special resolution set forth herein, to elect Ms. Marjorie Mun Tak Yang as an independent non-executive Director; to re-elect Mr. Wang Huiwen as a non-executive Director; to authorize the Board to fix the remuneration of the Directors; and to consider any other matters.
Reported Earnings • May 30First quarter 2023 earnings releasedFirst quarter 2023 results: Revenue: CN¥58.6b (up 27% from 1Q 2022). Net income: CN¥3.36b (up CN¥9.06b from 1Q 2022). Profit margin: 5.7% (up from net loss in 1Q 2022). Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 8.6% growth forecast for the Hospitality industry in Europe.
お知らせ • May 22Meituan Launches Food Delivery Brand KeeTa Amid Hong Kong DebutMeituan introduced KeeTa, a new food delivery brand as it officially launches in the Hong Kong market, to provide residents with more customized, efficient and reliable delivery services. Following the initial launch in Mong Kok and Tai Kok Tsui, the Company expects KeeTa to complete full coverage of the Hong Kong market by the end of this year. The KeeTa app is now available for download in major mobile app stores. Delivery services via KeeTa will start at 8:00 a.m., May 22, 2023 local time. Notable merchants that have joined KeeTa include brands like McDonald's, Maxim's MX (Mei Xin MX), KFC, Yoshinoya(Ji Ye Jia), Pacific Coffee, and popular food and beverage shops such as hana-musubi (Hua Yu Jie), Hung Fook Tong (Hong Fu Tang), and CHICHA San Chen(Chi Cha San Qian). Each newly registered KeeTa user will receive a gift coupon package valued at HKD 300, including special meal offers and delivery fee reductions.
お知らせ • May 17Meituan to Report Q1, 2023 Results on May 25, 2023Meituan announced that they will report Q1, 2023 results After-Market on May 25, 2023
Reported Earnings • Mar 25Full year 2022 earnings released: CN¥1.09 loss per share (vs CN¥3.90 loss in FY 2021)Full year 2022 results: CN¥1.09 loss per share (improved from CN¥3.90 loss in FY 2021). Revenue: CN¥220.0b (up 23% from FY 2021). Net loss: CN¥6.69b (loss narrowed 72% from FY 2021). Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Hospitality industry in Europe.
Buying Opportunity • Mar 06Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 19%. The fair value is estimated to be €21.38, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 32% over the last 3 years. Earnings per share has declined by 91%.
Buying Opportunity • Feb 04Now 20% undervaluedThe stock has been flat over the last 90 days. The fair value is estimated to be €25.39, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 32% over the last 3 years. Earnings per share has declined by 91%.
Recent Insider Transactions • Jan 22Co-Founder recently sold €19m worth of stockOn the 17th of January, Rongjun Mu sold around 1m shares on-market at roughly €19.47 per share. This transaction amounted to 2.6% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Rongjun has been a net seller over the last 12 months, reducing personal holdings by €43m.
Recent Insider Transactions • Jan 06Co-Founder & Executive Director recently sold €11m worth of stockOn the 29th of December, Huiwen Wang sold around 512k shares on-market at roughly €21.94 per share. This transaction amounted to 5.0% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Huiwen has been a net seller over the last 12 months, reducing personal holdings by €12m.
Reported Earnings • Nov 26Third quarter 2022 earnings releasedThird quarter 2022 results: EPS: CN¥0.20. Revenue: CN¥62.6b (up 29% from 3Q 2021). Net income: CN¥1.22b (up CN¥11.2b from 3Q 2021). Profit margin: 1.9% (up from net loss in 3Q 2021). Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Online Retail industry in Europe.
Board Change • Nov 17Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. No highly experienced directors. Independent Non-Executive Director Jeff Leng was the last director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment.