0319 GMT - Meituan's recent move to contribute to social security for its full-time and stable part-time delivery riders may lead to a cost of CNY0.3 to CNY0.4 per order, Nomura analysts write in a note. The Chinese company is likely to gradually roll out the coverage by different cities rather than at once, which may take three to four years to complete, they add. The move's impact on Meituan's unit economics of its food delivery business is likely to be around 5% to 7% in 2025, Nomura says. The bank forecasts the unit economics of Meituan's food delivery business to rise by 2% to CNY1.47 per order this year, they say. The brokerage maintains a buy rating on the stock, with a target price of HK$212. Shares are last at HK$157.00. (jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
February 19, 2025 22:19 ET (03:19 GMT)
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