Zhi Tong Cai Jing·2025-05-26 23:57Group 1: Meituan's Performance and Strategy - Meituan reported Q1 2025 revenue of 86.6 billion yuan, a year-on-year increase of 18% [1] - The CFO revealed that over 50% of the new brand users for the flash purchase service are born after 1995 [1] - Meituan plans to launch a promotional campaign for the 618 shopping festival starting May 28, collaborating with various dining and retail brands [1] - CEO Wang Xing stated that Meituan will spare no effort to win competition against JD's 10 billion yuan subsidy for food delivery services [1] - Wang acknowledged the potential of the food delivery industry and noted that some subsidies in the current competition are irrational, leading to low quality and prices [1] Group 2: AI and Investment Plans - Approximately 52% of the new code at Meituan is AI-generated, with over 90% of engineers using AI coding tools [2] - Meituan plans to invest 100 billion yuan over the next three years to promote high-quality development in the catering industry [2] - The company anticipates that the year-on-year growth rate of its core local life business revenue in Q2 will be lower than that of Q1 [2] Group 3: Market Developments - The U.S. stock market was closed for a holiday, affecting trading in various commodities and futures [3] - The National Film Administration encourages Hong Kong and Macau service providers to invest in film production companies in mainland China [3] Group 4: Corporate Announcements - Chongqing Steel announced the termination of the absorption merger with its wholly-owned subsidiary, which will continue to operate independently [5][6] - Tencent's application platform announced the opening of its cross-end ecosystem, reporting significant growth in active users and advertising revenue [4] - Fosun Pharma's HLX22 received orphan drug designation from the EU for gastric cancer treatment, which may enhance its development and commercialization prospects [9] - Zijin Mining plans to spin off its subsidiary for a listing on the Hong Kong Stock Exchange, with a proposed issuance of up to 15% of its total share capital [10]