Core Viewpoint - Meituan Flash Purchase has announced the establishment of "Brand Official Flash Warehouses" in collaboration with thousands of brands, aiming to facilitate low-cost and asset-light entry into instant retail for various brands [1][7]. Group 1: Business Model Innovation - The "Brand Official Flash Warehouse" represents a global innovation where brands can set up official flagship stores for instant retail [7]. - The initiative has already seen participation from over a hundred brands, including Sony PlayStation, JBL, and L'Oreal, with warehouses launched in major cities like Beijing, Shanghai, and Guangzhou [7][8]. Group 2: Market Trends - The retail industry is undergoing significant changes, with traditional retail brands shifting from sales channels to experience centers due to high costs [7]. - E-commerce brands are exploring instant retail models to open new sales channels amid rising online traffic costs and competitive pressures [8]. Group 3: Strategic Goals - Meituan Flash Purchase aims to help brands explore the growth potential of the flash warehouse model, transforming instant retail into a stable, efficient, and low-cost business model [7][8]. - The company plans to expand the "Brand Official Flash Warehouse" to cover thousands of brands across various categories, including electronics, beauty, and apparel [7].

即时零售行业发展报告（2024）截图 即时零售自然也是中国平台型企业竞争的热土。公开数据显示，美团闪购等非餐饮即时零售今年日订单峰值超过了2700 万单，已经成为全球最大的商品即时零售平台。有消息称，本次推出"品牌官旗闪电仓"，也是美团率先在行业内探索"品 牌入仓"的即时零售经营新模式。 据悉，美团闪购相关负责人透露，"品牌官旗闪电仓"是顺应品牌革新意愿的产物。有参与"品牌官旗闪电仓"运营的行业 人士分析认为，"品牌官旗闪电仓"可被视作是品牌布局即时零售的关键性业态，成为品牌零售渠道升级变革的最后一块 拼图。 今日（10月29日），美团闪购宣布将联合上万个品牌建设"品牌官旗闪电仓"。品牌可通过入驻"官旗闪电仓"在美团闪购 开设官方旗舰店，美团闪购将为品牌搭建仓储、配送、数字化系统等即时零售"基建"，助力各类品牌轻资产、低成本"拎 包入驻"即时零售，开拓经营新主场。 据介绍，这是全球首个由品牌官方开设即时零售旗舰店的业态创新，闪电仓业态将从传统零售品牌，进一步拓展至纯线 上的电商品牌。美团闪购方面表示，"品牌官旗闪电仓"未来预计将拓展至上万个品牌，覆盖3C、美妆、运动、服饰、母 婴、宠物、百货等各个品类。 近年 ...

今日，美团闪购宣布将联合上万个品牌建设"品牌官旗闪电仓"。品牌可通过入驻"官旗闪电仓"在美团闪 购开设官方旗舰店，美团闪购将为品牌搭建仓储、配送、数字化系统等即时零售"基建"，助力各类品牌 轻资产、低成本"拎包入驻"即时零售，开拓经营新主场。 这是全球首个由品牌官方开设即时零售旗舰店的业态创新，闪电仓业态将从传统零售品牌，进一步拓展 至纯线上的电商品牌。 此前，德勤发布报告称，2025年中国零售的传统线下业态不及预期，但即时零售等新业态快速增长，凸 显了实体零售运营策略创新的迫切性。快速增长的即时零售如何助力品牌创新运营策略和业态，是行业 内共同关注的课题。数据显示，美团闪购等非餐饮即时零售今年日订单峰值超过了2700万单，已经成为 全球最大的商品即时零售平台，本次推出"品牌官旗闪电仓"，也是率先在行业内探索"品牌入仓"的即时 零售经营新模式。 据了解，"品牌官旗闪电仓"已经在各地低调试点数月。从美团闪购页面看，10月份以来，已有索尼 PlayStation、珀莱雅、JBL、自然堂、薇诺娜、全棉时代、罗技、金士顿、毛戈平、欧莱雅、蕉下、徕 芬、苏菲、漫步者、飞利浦、安克等超百家品牌率先入驻，"品牌官旗闪电仓" ...

智通财经APP获悉，10月29日，美团闪购宣布将联合上万个品牌建设"品牌官旗闪电仓"。品牌可通过入驻"官旗闪电仓"在美团闪购开设官方旗舰店，美团闪 购将为品牌搭建仓储、配送、数字化系统等即时零售"基建"，助力各类品牌轻资产、低成本"拎包入驻"即时零售，开拓经营新主场。 这是全球首个由品牌官方开设即时零售旗舰店的业态创新，闪电仓业态将从传统零售品牌，进一步拓展至纯线上的电商品牌。 此前，德勤发布报告称，2025年中国零售的传统线下业态不及预期，但即时零售等新业态快速增长，凸显了实体零售运营策略创新的迫切性。快速增长的即 时零售如何助力品牌创新运营策略和业态，是行业内共同关注的课题。数据显示，美团闪购等非餐饮即时零售今年日订单峰值超过了2700万单，已经成为全 球最大的商品即时零售平台，本次推出"品牌官旗闪电仓"，也是率先在行业内探索"品牌入仓"的即时零售经营新模式。 据了解，"品牌官旗闪电仓"已经在各地低调试点数月。从美团闪购页面看，10月份以来，已有索尼PlayStation、珀莱雅、JBL、自然堂、薇诺娜、全棉时 代、罗技、金士顿、毛戈平、欧莱雅、蕉下、徕芬、苏菲、漫步者、飞利浦、安克等超百家品牌率先入驻， ...

Core Viewpoint - The company, Meituan-W (03690), has announced the issuance of various bonds totaling approximately $2.4 billion and RMB 70.8 billion, primarily aimed at refinancing existing offshore debt and for general corporate purposes [1] Group 1: Bond Issuance Details - The company will issue a total of $600 million in 2031 USD notes, $600 million in 2032 USD notes, and $800 million in 2035 USD notes [1] - Additionally, the company will issue RMB 2.08 billion in 2030 RMB notes and RMB 5 billion in 2035 RMB notes [1] - The annual interest rates for the bonds are set at 4.5%, 4.75%, 5.125%, 2.55%, and 3.10% respectively [1] Group 2: Use of Proceeds - The net proceeds from the bond issuance will primarily be used for refinancing existing offshore debt and for other general corporate purposes [1]

Core Viewpoint - The company, Meituan-W (03690), has announced the issuance of various bonds totaling $6 billion and RMB 70.8 billion, primarily aimed at refinancing existing offshore debt and for general corporate purposes [1] Group 1: Bond Issuance Details - The company will issue a total of $6 billion in bonds, including $600 million in 2031 USD bonds, $600 million in 2032 USD bonds, and $800 million in 2035 USD bonds [1] - Additionally, the company will issue RMB 20.8 billion in 2030 RMB bonds and RMB 50 billion in 2035 RMB bonds [1] - The annual interest rates for the bonds are set at 4.5%, 4.75%, 5.125%, 2.55%, and 3.10% respectively [1] Group 2: Use of Proceeds - The net proceeds from the bond issuance will primarily be used for refinancing existing offshore debt and for other general corporate purposes [1]

本公告及其內容並不構成任何合約或承諾的根據。本公告及其任何副本不得帶入美國或在美國 分發。本公告所述證券並無亦不會根據一九三三年美國證券法（經修訂）或向美國任何州或其 他司法權區的任何證券監管機構登記，且不得在美國提呈發售或出售，惟獲得一九三三年美國 證券法（經修訂）及適用州或地方證券法登記規定的適用豁免，或屬不受一九三三年美國證券 法（經修訂）及適用州或地方證券法登記規定約束的交易則除外。本公司不會在美國公開發售證 券。 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 茲提述本公司日期為二零二五年十月二十七日有關建議票據發行的公告。董事 會欣然宣佈，於二零二五年十月二十八日（紐約時間），本公司及有關初始買家 就票據發行訂立有關購買協議。 於扣除包銷佣金及若干估計發售開支前，美元票據發行的所得款項總額將約為 1,993.7百萬美元。於扣除包銷佣金及若干估計發售開支前，人民幣票據發行的 所得款項總額將為人民幣7,080百萬元。本公司擬將票據發行所得款項 ...

Core Insights - The article highlights the transformation of digital services for the elderly in Beijing, showcasing how platforms like Meituan are bridging the "digital divide" through innovative services that enhance healthcare accessibility for seniors [1][3]. Group 1: Digital Adoption by the Elderly - As of June 2025, the number of internet users aged 60 and above in China is projected to reach 161 million, with an internet penetration rate of 52.0% among this demographic [3]. - Online health consumption, particularly local instant delivery services, is becoming a significant consumption scenario for the elderly, shifting from a novelty for younger users to a necessity for seniors [3]. - Meituan reports that from 2025 onwards, the order volume for medical supplies among elderly users has increased by over 30%, with specific categories like reading glasses and health devices seeing growth rates of over 50% and 70% respectively [3]. Group 2: Intergenerational Support and Safety - The article emphasizes the importance of reducing online risks for the elderly and creating a safe digital consumption environment, which requires the involvement and guidance of their children [4][5]. - Meituan has introduced features like "Buy Medicine for Them," allowing children to purchase medications for their parents remotely using health insurance, with 36% of the users being aged 55 and above [5]. - Video consultation services launched by Meituan in April 2025 enable licensed physicians to provide health consultations via video or phone, catering specifically to the needs of elderly patients [8]. Group 3: Future of Elderly Care Services - The "intergenerational linkage" service model is designed to lower the digital barriers for the elderly while fostering a robust family health support network [5][9]. - The demand for cardiovascular and bone health consultations is particularly high among elderly patients, reflecting common health issues within this age group [9]. - Industry experts believe that effective elderly care services can be enhanced through innovative models that activate the inherent capabilities of family units, leading to a more intelligent and integrated health service network for seniors [9].

Core Viewpoint - The company expects Meituan's revenue for Q3 2025 to be 97.8 billion yuan, with a year-over-year growth of 4.5%, while operating profit is projected to be -18.5 billion yuan and adjusted net profit at -15.9 billion yuan, primarily due to intense competition in the food delivery subsidy market [1] Delivery Business - In Q3 2025, Meituan's instant delivery order volume is expected to grow by 17.0% year-over-year, and food delivery order volume is projected to increase by 14.3%, driven by enhanced platform subsidies [2] - However, the intense subsidy competition in Q3 has led to a significant decline in Meituan's user experience (UE), with expectations of UE dropping to -2.8 yuan, compared to 1.48 yuan in Q3 2024 and -0.21 yuan in Q2 2025 [2] - The company anticipates a return to rational operations in Q4, which may alleviate the ongoing subsidy competition [2] Dining and Travel Business - Meituan's dining and travel business revenue is expected to grow by 5% year-over-year in Q3 2025, although there is pressure on offline dining consumption due to increased food delivery subsidies [2] - The operating profit margin (OPM) for the dining segment is projected to reach 27.8%, reflecting a decline of 5.7 and 5.2 percentage points compared to previous quarters, attributed to a higher proportion of revenue from lower-tier cities and increased subsidy investments [2] New Business Initiatives - New business revenue is expected to reach 28.4 billion yuan in Q3 2025, with a year-over-year growth of 17.5%, although the operating loss is projected at 2.4 billion yuan [3] - The company is expanding its Xiaoxiang supermarket brand in response to the instant retail trend, leveraging supply chain and brand advantages for competitive growth [3] - Meituan's international food delivery expansion is progressing steadily, with plans to enter the Brazilian market in Q4, indicating long-term potential for growth [3] Financial Forecast and Valuation - Revenue forecasts for 2025-2027 are set at 376.8 billion, 444.8 billion, and 510.2 billion yuan, with adjusted net profits projected at -7.9 billion, 35.4 billion, and 54.4 billion yuan, respectively [3] - The company maintains its valuation despite rising valuations of comparable companies, emphasizing the unsustainable nature of current subsidy competition [4] - A target price of 136.0 Hong Kong dollars is set for Meituan, with a "buy" rating maintained [4]

每经编辑｜何小桃 10月27日晚间，美团宣布，即日起美团骑手养老保险补贴将正式覆盖全国，向全部骑手开放。11月开始，骑手可根据自身需求，选择在户籍地或工作所在 地缴纳。 在灵活用工模式下，外卖骑手与平台之间的劳动关系错综复杂，社保体系的构建亟需逐步探索和完善。美团为骑手缴纳社保的补贴政策，最早可追溯至今 年4月，最初在福建泉州和江苏南通两个城市进行试点。随后，该政策迅速扩展至深圳、成都、武汉、石家庄和无锡等更多城市。如今，这一政策已覆盖 全国范围，从试点到全国推广仅用了半年时间，其推进速度之快令人瞩目。 这一速度的提升，正是平台经济市场竞争加剧与社会对平台公司承担更多责任呼声的共同结果。自今年2月起，京东等平台企业宣布将为旗下全职或稳定 兼职的外卖骑手缴纳社会保险，该举措无疑彰显了平台企业对社会责任的重视和对员工福利的关怀。 如今，美团吸纳了骑手们提出的上万条建议，从试点城市推广到全国，从高频骑手拓展到兼职骑手，最大程度面向全国全行业各类骑手开放，预计覆盖人 群高达数百万人。骑手的多层次福利保障网本就是"摸着石头过河"，美团此举释放了足够多的诚意，其重要意义在于为社会探索灵活用工模式的社保体 系。 美团模式是 ...