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美团高管解读Q1财报:外卖非理性竞争不可持续 将不惜一切赢得竞争
Xin Lang Ke Ji·2025-05-26 12:44

Core Viewpoint - Meituan reported a revenue of 86.6 billion yuan for Q1 2025, representing an 18.1% year-on-year growth, with a net profit of 10.1 billion yuan compared to 5.4 billion yuan in the same period of 2024 [1][2]. Financial Performance - Revenue for Q1 2025 was 86.6 billion yuan, up 18.1% year-on-year [1]. - Net profit reached 10.1 billion yuan, significantly higher than 5.4 billion yuan in Q1 2024 [1]. - Adjusted net profit was 10.9 billion yuan, compared to 7.5 billion yuan in the previous year [1]. Competitive Landscape - The CEO acknowledged the competitive pressure from JD.com and Ele.me, both of which have announced substantial subsidies for their delivery services [3]. - Meituan aims to maintain its market leadership by leveraging its established position and extensive experience in the food delivery sector [3][4]. - The company views the influx of new competitors as a sign of the growth potential in the food delivery and instant retail markets [4]. Market Strategy - Meituan plans to respond to the competitive environment by investing in maintaining its market share and enhancing service quality [5][7]. - The company emphasizes the importance of returning to sustainable growth driven by quality service rather than irrational subsidy competition [6][8]. - Meituan is committed to supporting small and medium-sized businesses on its platform, enhancing their revenue and operational efficiency [5][6]. Future Outlook - The company anticipates fluctuations in financial performance due to ongoing competitive pressures and high subsidy levels from other platforms [7]. - Meituan expects the food delivery industry to transition to a more rational and sustainable growth phase, which will improve the overall ecosystem [8]. - The management believes that regulatory bodies will play a role in curbing unhealthy competition, allowing Meituan to focus on winning in a fair competitive landscape [8].