Core Viewpoint - Meituan's financial performance for 2024 appears stable, with significant investments planned in technology and ecosystem development to drive future growth [2][5]. Financial Performance - In Q4 2024, Meituan's revenue reached 885 billion, marking a year-on-year growth of 20.1%. For the entire year, revenue totaled 3,376 billion, reflecting a 22.0% increase [5]. - The core local business segment saw a revenue increase of 18.9% to 656 billion in Q4, while the new business segment grew by 23.5% to 229 billion, now accounting for 25% of total revenue. The operating loss for new businesses narrowed to 73 billion, down from 202 billion in 2023 and 384 billion in 2021, contributing to overall profit growth [6]. User and Merchant Growth - Meituan reported record highs in user and merchant numbers, with annual transaction users surpassing 770 million and active merchants reaching 14.5 million. Additionally, order volume for in-store services grew by over 65% year-on-year [7]. Technology Investment - Meituan plans to increase its investment in technology, focusing on AI, drone delivery, and automated delivery vehicles. The R&D expenditure for 2024 is projected at 21.1 billion, with significant milestones achieved in automated deliveries [9]. Ecosystem Development and Rider Welfare - The company emphasizes social responsibility, aiming to create job opportunities and improve rider welfare. The average monthly income for high-frequency riders in 2024 ranges from 6,650 to 9,344, with top riders in major cities earning up to 11,547 [10]. - Meituan has enhanced rider benefits and protections, including a pilot program for occupational injury insurance, with 1.4 billion invested for over 6 million riders [11]. Merchant Support Initiatives - Meituan initiated a 1 billion support fund for restaurant merchants, with 38,000 merchants already receiving financial assistance. This initiative is part of a broader strategy to enhance the local service ecosystem [12][13].