MEITUAN(HK:03690) 第一财经·2025-11-28 14:33Core Viewpoint - Meituan's CEO Wang Xing emphasized that the ongoing price war in the food delivery industry is unsustainable and does not create value, asserting that the current irrational competition is temporary [3]. Group 1: Financial Performance - Meituan reported a steady recovery in its market share for food delivery orders, maintaining a leading position in the mid-to-high price order market, with over 66% share in orders above 15 yuan and over 70% in orders above 30 yuan [3]. - The retention of core users remains high, with increasing consumer frequency and loyalty [3]. Group 2: Business Development - The Keeta business in Hong Kong achieved profitability in October, reaching this milestone 29 months after launch, ahead of the initial three-year target [5]. - Meituan expects losses from new business segments to not exceed those of 2025 [5]. - The company is focusing on instant retail, leveraging its platform for high conversion rates and incremental sales, with plans to enhance user education during major marketing events [5]. Group 3: Operational Strategy - Meituan aims to maintain its advantages in supply chain, user reach, and fulfillment, with a focus on achieving reasonable and sustainable profit margins in the medium to long term [6]. - The company is enhancing its AI capabilities, with ongoing improvements to its internal language model [6].