Core Viewpoint - Meituan-W (03690) reported a revenue of RMB 178.4 billion for the six months ending June 30, 2025, representing a year-on-year increase of 14.7%, but adjusted net profit decreased by 41% [1] Financial Performance - For Q2 2025, the company achieved revenue of RMB 91.84 billion, up 11.7% year-on-year, while adjusted net profit fell by 89% to RMB 1.493 billion [1] - The operating profit of the core local business segment significantly declined to RMB 3.7 billion due to intense competition in the food delivery sector [1] - The new business segment reported an operating loss of RMB 1.9 billion, widening year-on-year [1] - As of June 30, 2025, the company held cash and cash equivalents of RMB 101.7 billion and short-term investments of RMB 69.4 billion [1] Business Segments - The instant delivery business saw strong growth in order volume and transaction value, solidifying market position despite increasing competition [3] - The restaurant delivery segment expanded its customer base and increased transaction frequency among core users, while maintaining a focus on high-value consumption scenarios [2] - The hotel and travel business maintained robust growth, leveraging new service retail opportunities and digital transformation for merchants [4] Technological Advancements - The company has assisted over 1 million independent artisans in digital archiving to enhance sales and consumer connections [5] - AI tools have been introduced to improve operational efficiency for merchants, including AI customer service representatives and AI scheduling assistants [5]