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美团-W发布中期业绩,收入同比增长14.7%至1783.98亿元 即时配送业务在第二季度仍巩固了市场地位
Zhi Tong Cai Jing·2025-08-27 08:47

Core Insights - Meituan-W (03690) reported a revenue of RMB 178.398 billion for the six months ending June 30, 2025, representing a year-on-year increase of 14.7% [1] - Adjusted net profit decreased by 41% to RMB 12.442 billion, while profit attributable to equity holders fell by 37.67% to RMB 10.422 billion, with basic earnings per share at RMB 1.72 [1] - In Q2 2025, revenue reached RMB 91.84 billion, up 11.7% year-on-year, but adjusted net profit plummeted by 89% to RMB 1.493 billion [1] Revenue and Profitability - The company's core local business segment saw a significant decline in operating profit to RMB 3.7 billion due to intense competition in the food delivery sector [1] - The new business segment reported an expanded operating loss of RMB 1.9 billion, contributing to a decrease in adjusted EBITDA and adjusted net profit to RMB 2.8 billion and RMB 1.5 billion, respectively [1] - Operating cash inflow for Q2 was RMB 4.8 billion, with cash and cash equivalents and short-term investments totaling RMB 101.7 billion and RMB 69.4 billion, respectively, as of June 30, 2025 [1] Business Segments Performance - The instant delivery business maintained market position with a 7.7% year-on-year revenue growth to RMB 65.3 billion, despite a 75.6% drop in operating profit to RMB 3.7 billion [2] - The company focused on enhancing user experience and expanding service offerings, including partnerships with restaurants for supply-side innovations and the promotion of high-value consumption scenarios [2] - The "Meituan Flash Purchase" business experienced strong growth in order volume and transaction value, with over 50,000 flash warehouses established nationwide [3] Digital Transformation and AI Integration - The company is actively promoting digital transformation among merchants, providing integrated solutions for store management, marketing, and customer acquisition [4] - Over 1 million independent artisans have been assisted in digital archiving to enhance sales and consumer connections [5] - AI tools have been introduced to improve operational efficiency, including AI customer service representatives and AI scheduling assistants [5]