王兴：预计二季度本地商业营业利润率大降

Core Viewpoint - The company anticipates short-term fluctuations in financial performance while committing to fair competition and increasing ecosystem investments [1] Financial Performance - The company expects the growth rate of core local business revenue in Q2 2025 to be lower than the same period last year [1] - There is a significant year-on-year decline in operating profit margin [1] Industry Competition - The company cannot predict how long irrational competition within the industry will last [1] - The company believes it can defend and consolidate its position in the market despite competitive pressures [1]