MEITUAN(HK:03690) 未可知人工智能研究院·2026-01-16 13:34Core Viewpoint - Meituan's recent update of its LongCat model has positioned the company as a significant player in the AI sector, showcasing its capabilities beyond just food delivery services [2][24]. Group 1: LongCat Model Strengths - The LongCat-Flash-Thinking-2601 model utilizes a "Heavy Thinking Mode," allowing it to process multiple solutions simultaneously, outperforming Claude in tool utilization for complex tasks [6][19]. - The model achieved impressive scores: 82.8 in programming, full marks in mathematical reasoning, and 88.2 in tool utilization, indicating its top-tier performance in the open-source model landscape [6][19]. Group 2: Technological Foundation - Meituan has integrated AI deeply into its operations, with 52% of new code generated by AI and over 90% of engineers using AI coding tools [10]. - The company has developed over 3,000 production-level applications on its NoCode platform, demonstrating its commitment to leveraging AI across various business functions [10][11]. Group 3: Investment Strategy - Meituan has invested over $100 million in AI companies, including a significant stake in Zhipu AI, which recently went public with a market valuation of over 50 billion HKD [15][16]. - The company is actively investing in robotics, with a focus on reducing delivery costs through autonomous vehicles and drones, indicating a strategic approach to future logistics [16][17]. Group 4: Strategic Collaborations - Meituan has formed strategic partnerships to develop delivery robots and drones, achieving over 500,000 orders in fully autonomous delivery in Shenzhen, validating its business model [17][18]. Group 5: Competitive Advantages - The LongCat model is open-source, providing a cost-effective alternative to proprietary models, which is particularly beneficial for small and medium enterprises [20]. - Meituan focuses on B2B applications, emphasizing practical tools that enhance operational efficiency rather than consumer-facing chatbots [20]. Group 6: Future Outlook - The competition in AI models has shifted towards practical application and engineering capabilities, where Meituan's real-world experience gives it a competitive edge [21]. - The investment in embodied intelligence positions Meituan favorably for future growth in robotics, a sector expected to expand significantly in the coming years [21].