王兴决定“不惜代价赢得竞争”

Core Viewpoint - The competition in the food delivery industry has intensified with the entry of JD.com, prompting Meituan to adopt aggressive strategies to maintain its market position [2][3][9]. Financial Performance - In Q1, Meituan reported total revenue of 866 billion yuan, a year-on-year increase of 18%, with adjusted net profit rising by 46.2% to 109.49 billion yuan [5]. - Core local business revenue, including food delivery and flash purchase, reached 643 billion yuan, also up 18%, with an operating profit margin of 21% [5]. - New business revenue, including community group buying and international operations, was 222 billion yuan, with losses narrowing by 17.5% to 23 billion yuan [5]. Strategic Initiatives - Meituan plans to invest heavily in rider subsidies, AI, and international expansion to enhance its competitive edge [3][7]. - The company has launched a major promotional campaign in collaboration with various brands, marking its first participation in the 618 shopping festival [2]. - Meituan's upgraded membership system aims to integrate various local lifestyle services, enhancing user engagement and loyalty [6]. Market Dynamics - The food delivery sector is undergoing significant changes, with companies competing not only on consumer subsidies but also on rider welfare and service quality [3][9]. - Regulatory changes, such as the new compliance guidelines for online transaction platforms, are prompting companies to self-regulate and improve service standards [8]. Long-term Outlook - Meituan's CEO emphasized a focus on long-term market positioning rather than short-term financial metrics, indicating a commitment to sustainable growth through technology and ecosystem collaboration [9][11]. - Analysts express confidence in Meituan's long-term prospects despite anticipated short-term profit pressures due to increased competition and expansion efforts [9][12].