MeituanRecord Q2 revenue and return to profitability in core local commerce, with strong cash position and potential portfolio monetization.

Meituan reported record second-quarter revenue of RMB104.6 billion, up 14.4% year-over-year, with adjusted net profit of RMB2.5 billion and a return to profitability in its core local commerce segment. The company's core local commerce revenue rose 10.1% to RMB71.5 billion, while new initiatives revenue grew 25% to RMB33.1 billion, with operating losses narrowing sequentially to RMB1.7 billion. CEO Xing Wang highlighted the open-sourced LongCat 2.0 AI model as central to the company's strategy, driving internal productivity and enhancing user and merchant experiences. CFO Shaohui Chen noted that food delivery unit economics improved meaningfully in Q2 but face seasonal headwinds in Q3, and that industry subsidies remain above 2024 levels, pressuring near-term profitability. Meituan holds RMB168.3 billion in cash and is open to monetizing its investment portfolio, valued at over RMB70 billion, to fund growth and shareholder returns.
MeituanRecord Q2 revenue and return to profitability in core local commerce, with strong cash position and potential portfolio monetization.