美团Q3财报：核心本地商业经营亏损141亿元，年交易用户数破8亿

Core Insights - Meituan reported Q3 2025 earnings with revenue of 95.5 billion RMB, a year-on-year growth of 2% [1] - Due to intensified industry competition, the core local business operating profit turned negative, resulting in a loss of 14.1 billion RMB [1] - The number of transacting users over the past 12 months exceeded 800 million [1] Revenue and User Metrics - In Q3, Meituan increased its financial investment to enhance service quality and promote healthy industry development [1] - The Daily Active Users (DAU) of the Meituan app grew by over 20% year-on-year [1] - Monthly transacting users for food delivery reached a historical high [1] Investment and Ecosystem Development - Meituan continued to invest in ecosystem development to build a sustainable industry health ecosystem [1] - The rider pension insurance subsidy was officially expanded to cover all riders nationwide [1] - R&D investment in Q3 amounted to 6.9 billion RMB, representing a year-on-year increase of 31% [1]