SEHK:3690

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Executive Summary

Meituan Dianping, an investment holding company, provides an e-commerce platform that uses technology to connect consumers and merchants.


Snowflake Analysis

High growth potential with excellent balance sheet.


Similar Companies

Share Price & News

How has Meituan Dianping's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 3690's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

23.8%

3690

22.1%

HK Online Retail

0.6%

HK Market


1 Year Return

142.3%

3690

118.8%

HK Online Retail

-9.9%

HK Market

Return vs Industry: 3690 exceeded the Hong Kong Online Retail industry which returned 118.8% over the past year.

Return vs Market: 3690 exceeded the Hong Kong Market which returned -9.9% over the past year.


Shareholder returns

3690IndustryMarket
7 Day23.8%22.1%0.6%
30 Day41.3%39.4%-3.6%
90 Day48.3%45.6%-6.8%
1 Year142.3%142.3%118.8%118.8%-7.0%-9.9%
3 Yearn/a-20.3%-20.6%-4.7%-14.3%
5 Yearn/a-74.3%-74.7%-15.4%-28.5%

Price Volatility Vs. Market

How volatile is Meituan Dianping's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Meituan Dianping undervalued compared to its fair value and its price relative to the market?

347.95x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: 3690 (HK$146.7) is trading above our estimate of fair value (HK$92.79)

Significantly Below Fair Value: 3690 is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: 3690 is poor value based on its PE Ratio (347.9x) compared to the Online Retail industry average (81.5x).

PE vs Market: 3690 is poor value based on its PE Ratio (347.9x) compared to the Hong Kong market (9.3x).


Price to Earnings Growth Ratio

PEG Ratio: 3690 is poor value based on its PEG Ratio (4.5x)


Price to Book Ratio

PB vs Industry: 3690 is overvalued based on its PB Ratio (8.5x) compared to the HK Online Retail industry average (2.1x).


Next Steps

Future Growth

How is Meituan Dianping forecast to perform in the next 1 to 3 years based on estimates from 29 analysts?

77.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 3690's forecast earnings growth (77.9% per year) is above the savings rate (1.6%).

Earnings vs Market: 3690's earnings (77.9% per year) are forecast to grow faster than the Hong Kong market (16.5% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: 3690's revenue (28.3% per year) is forecast to grow faster than the Hong Kong market (10.5% per year).

High Growth Revenue: 3690's revenue (28.3% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 3690's Return on Equity is forecast to be low in 3 years time (19.7%).


Next Steps

Past Performance

How has Meituan Dianping performed over the past 5 years?

-11.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 3690 has high quality earnings.

Growing Profit Margin: 3690 became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: 3690 has become profitable over the past 5 years, growing earnings by -11.5% per year.

Accelerating Growth: 3690 has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: 3690 has become profitable in the last year, making it difficult to compare its past year earnings growth to the Online Retail industry (4.2%).


Return on Equity

High ROE: 3690's Return on Equity (2.3%) is considered low.


Next Steps

Financial Health

How is Meituan Dianping's financial position?


Financial Position Analysis

Short Term Liabilities: 3690's short term assets (CN¥72.4B) exceed its short term liabilities (CN¥28.0B).

Long Term Liabilities: 3690's short term assets (CN¥72.4B) exceed its long term liabilities (CN¥3.2B).


Debt to Equity History and Analysis

Debt Level: 3690's debt to equity ratio (4.4%) is considered satisfactory.

Reducing Debt: Insufficient data to determine if 3690's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: 3690's debt is well covered by operating cash flow (94.8%).

Interest Coverage: 3690 earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet


Next Steps

Dividend

What is Meituan Dianping's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate 3690's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate 3690's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if 3690's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if 3690's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of 3690's dividend in 3 years as they are not forecast to pay a notable one for the Hong Kong market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

2.6yrs

Average board tenure


CEO

Xing Wang (40yo)

no data

Tenure

CN¥5,461,000

Compensation

Mr. Xing Wang is the Chief Executive Officer and Co-founder at China Internet Plus Group. Prior to this, Mr. Wang was employed at Xiaonei.com in the position of Chief Executive Officer. He serves as Co-Fou ...


CEO Compensation Analysis

Compensation vs Market: Xing's total compensation ($USD765.21K) is about average for companies of similar size in the Hong Kong market ($USD764.18K).

Compensation vs Earnings: Xing's compensation has been consistent with company performance over the past year.


Board Members

NamePositionTenureCompensationOwnership
Xing Wang
Co-Founderno dataCN¥5.46m9.84% CN¥84.1b
Rongjun Mu
Co-Founderno dataCN¥41.36m2.17% CN¥18.5b
Huiwen Wang
Co-Founderno dataCN¥149.11m0.73% CN¥6.2b
Xuesong Leng
Independent Non-Executive Director1.67yrsCN¥1.76m0.00039% CN¥3.3m
Chi Ping Lau
Non-Executive Director2.58yrsno datano data
Heung Yeung Shum
Independent Non-Executive Directorno dataCN¥1.76m0.00039% CN¥3.3m
Gordon Robert-Halyburton Orr
Independent Non-Executive Directorno dataCN¥1.76m0.00039% CN¥3.3m
Nanpeng Shen Neil
Non-Executive Director4.58yrsno datano data

2.6yrs

Average Tenure

47.5yo

Average Age

Experienced Board: 3690's board of directors are not considered experienced ( 2.6 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: 3690 insiders have only sold shares in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Meituan Dianping's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Meituan Dianping
  • Ticker: 3690
  • Exchange: SEHK
  • Founded: 2003
  • Industry: Internet and Direct Marketing Retail
  • Sector: Retail
  • Market Cap: HK$854.782b
  • Shares outstanding: 5.83b
  • Website: https://www.meituan.com

Number of Employees


Location

  • Meituan Dianping
  • Hengjiweiye Building
  • Block B&C
  • Beijing
  • 100102
  • China

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
3690SEHK (The Stock Exchange of Hong Kong Ltd.)YesClass B SharesHKHKDSep 2018
MPNG.FOTCPK (Pink Sheets LLC)YesClass B SharesUSUSDSep 2018
9MDDB (Deutsche Boerse AG)YesClass B SharesDEEURSep 2018
3690SHSC (Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect)YesClass B SharesHKHKDSep 2018
3690SZSC (The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect)YesClass B SharesHKHKDSep 2018
MPNG.YOTCPK (Pink Sheets LLC)UNSPONSRED ADSUSUSDNov 2018

Biography

Meituan Dianping, an investment holding company, provides an e-commerce platform that uses technology to connect consumers and merchants. It operates through Food Delivery; In-store, Hotel & Travel; and New Initiatives and Others segments. The Food Delivery segment offers food ordering and delivery service through its platform. The In-Store, Hotel & Travel segment enables merchants to sell vouchers, coupons, tickets, and reservations through the company’s platform. The New Initiatives and Others segment offers restaurant management system, supply chain, Meituan Instashopping, integrated payment, micro loan, local transportation, non-food delivery, and other products and services, as well as pilot car-hailing and bike-sharing services. The company also offers multimedia information technology, cloud computing, merchant information advisory, online payment, and marketing services. The company was formerly known as Internet Plus Holdings Ltd. and changed its name to Meituan Dianping in June 2018. Meituan Dianping was founded in 2003 and is headquartered in Beijing, China. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/05/30 13:47
End of Day Share Price2020/05/29 00:00
Earnings2020/03/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.