Xin Lang Cai Jing·2026-02-14 07:30Group 1 - Meituan expects a net loss of approximately RMB 233 billion to RMB 243 billion for the fiscal year ending December 31, 2025, a stark contrast to a net profit of RMB 358.08 billion in 2024, indicating a significant reversal of nearly RMB 600 billion [9][11][24] - The primary reason for this drastic change is the expected operating loss of RMB 68 billion to RMB 70 billion in its core local business segment, which had an operating profit of approximately RMB 524.15 billion in 2024 [11][26][28] - The company attributes this loss to intensified competition in the industry and a strategic increase in ecosystem investments, which include enhanced marketing efforts, rider incentives, and resource allocation to improve operational efficiency [13][26][28] Group 2 - Meituan's stock price has dropped 22.5% since its peak in January, closing at HKD 82.5 on February 13, with its market capitalization briefly falling below HKD 500 billion [7][22] - The company anticipates that the trend of losses will continue into the first quarter of 2026, although it maintains that its operational status remains stable and it has sufficient cash to support business development [13][28] - The Hang Seng Technology Index, which includes Meituan and other internet companies, has seen a decline of 6.26% since February, reflecting broader market challenges [28][29]