Zhong Guo Qing Nian Bao·2025-11-29 12:42Core Insights - Meituan reported a revenue of 95.5 billion yuan for Q3 2025, representing a year-on-year growth of 2% [1] - The core local commerce segment, which includes the food delivery business, experienced a significant operating loss of 14.1 billion yuan due to intensified industry competition [1] - Adjusted net loss for Q3 reached 16.01 billion yuan, compared to a profit of 12.83 billion yuan in the same period last year [1] Financial Performance - Revenue for Q3 2025 was 95.5 billion yuan, a 2% increase year-on-year [1] - The adjusted net loss was 16.01 billion yuan, a stark contrast to the profit of 12.83 billion yuan from the previous year [1] - Operating loss in the core local commerce segment was 14.1 billion yuan, with a significant decline in operating profit year-on-year [1] Business Strategy - To counteract the "involution" competition in the industry, Meituan increased its investment, leading to a more than 20% year-on-year growth in daily active users (DAU) [1] - The number of monthly active users for food delivery reached a historical high [1] - R&D investment for Q3 was 6.9 billion yuan, marking a 31% increase year-on-year [1] Future Outlook - Meituan anticipates that the trend of operating losses in the core local commerce segment and overall company will continue into Q4 [1] - CEO Wang Xing emphasized the commitment to enhancing core competitiveness through continuous product and service iterations to better meet user needs [1]