Hong Kong, 28 November 2025 – Meituan (3690.HK) reported third-quarter revenue of RMB95.5 billion, up 2% year-on-year, as annual transacting users exceeded 800 million for the first time. Heightened industry competition drove the core local commerce segment into a loss of RMB14.1 billion, prompting the company to increase investment to strengthen service quality and stabilise sector development. Daily active users on the Meituan app rose more than 20% year-on-year, while monthly users of its food-delivery service reached record levels. CEO Wang Xing said Meituan will continue to advance its “Retail + Technology” strategy to reinforce competitiveness and support sustainable industry growth.
The core local commerce segment generated RMB67.4 billion in revenue, while new initiatives delivered RMB28 billion, an increase of 15.9% year-on-year with operating losses narrowing to RMB1.3 billion. Meituan continued to enhance supply innovation, with peak daily orders for on-demand retail exceeding 150 million in July and average delivery time at 34 minutes. Meituan Flash maintained its strong momentum, launching “brand-authorised flash warehouses” that are expected to expand to more than 10,000 brands across categories. Its in-store services also reported record merchant and user numbers, with over 25 billion user reviews accumulated on the platform. New business lines saw further expansion, with Meituan’s Keeta service entering Qatar, Kuwait, the UAE and launching in Brazil.
Meituan stepped up ecosystem investment in areas including rider protection, merchant support and technology innovation. Its nationwide pension insurance subsidy for riders has been fully rolled out, alongside multi-layer welfare programmes covering more than one million riders and their families. The company allocated RMB2.8 billion under an upgraded merchant support scheme to ease pressure from irrational competition, and continued the rollout of its “Bright Kitchen” food-safety upgrade, now adopted by 300,000 merchants. R&D spending reached RMB6.9 billion in the quarter, up 31% year-on-year, with notable progress in AI applications such as the LongCat-Flash model series and intelligent merchant tools. Meituan’s drone delivery service also expanded, launching Hong Kong’s first wind- and water-resistant smart airport and enabling multi-drone night-time operations in Shenzhen. CFO Chen Shaohui said the company remains confident in long-term growth and will continue investing in service quality, ecosystem development and technological advancement.
