Core Insights - The "Must-Eat List" event in Shenzhen highlighted the growing trend of consumers seeking authentic local dining experiences, with a focus on traditional eateries that evoke cultural memories [1][2][3] - The integration of online and offline strategies is crucial for restaurants to attract customers, as demonstrated by the success of local establishments like Jicai Beef [2][4] - The "Must-Eat List" features 3,091 restaurants across 144 cities, with Guangdong province leading with 396 listings, showcasing a significant presence of traditional and long-established eateries [2][3] Industry Trends - There is a notable increase in consumer engagement with local food culture, as evidenced by the high percentage of small, traditional restaurants on the list, with over 70% categorized as "smoky" eateries and nearly 35% being over 10 years old [2][3] - The digital transformation of the food service industry is enhancing consumer access to local dining options, with platforms like Meituan and Dazhong Dianping driving growth in regional restaurant orders [5][6] - The upcoming "Must-Eat Festival" aims to further boost local consumption by leveraging significant marketing resources to promote the list across all participating cities [6]

Core Insights - The 2025 "Must-Eat List" award ceremony was held in Beijing, featuring over 200 merchants from Beijing, Tianjin, Shandong, and Hebei [1] - A total of 3,091 restaurants from 144 cities and regions made it to the list, with 25 new food cities added this year [1] - The list highlights local eateries, with nearly 80% being small local shops and over 40% being over 10 years old [1] Group 1: Industry Trends - The "Must-Eat List" is evolving into a "culinary business card" for various cities, with nearly 50% of the featured merchants showcasing local food culture [2] - User behavior has shifted from passive acceptance to active discovery, with 7.8 billion searches for food on the platform in the past year [2] - The platform has accumulated 363 million authentic reviews, aiding millions in finding their desired dining experiences [2] Group 2: Cultural and Economic Impact - The event reflects the integration of technology and traditional food culture, contributing to the high-quality development of the restaurant industry in Haidian District, Beijing [3] - The upcoming third "Must-Eat Festival" aims to convert the list's recognition into new consumption momentum across all listed cities [3] - The company emphasizes its mission to help users discover trustworthy dining options and promote the inheritance and innovation of Chinese food culture [3]

Core Insights - The 2025 "Must-Eat List" by Dianping was unveiled in Nanjing, featuring 3,091 restaurants across 144 cities, with Shanghai, Beijing, Chengdu, Chongqing, and Shenzhen being the top five cities in terms of the number of listed restaurants [2] - Over half of the restaurants on the 2025 list are newcomers, with more than 2,400 being lesser-known local eateries and over 1,200 being long-established local favorites [3] - The list reflects a growing trend in the culinary tourism market, with over 60% of cities seeing more than 50% of users from outside the area [3] Industry Trends - The "Must-Eat List" has become a key indicator of consumer trends in the restaurant industry over its nine years of development [3] - The list has expanded to include 10 new domestic culinary cities and 15 popular cities in Hong Kong, Macau, Taiwan, and overseas [3] - The user experience is emphasized, with a focus on real reviews and a commitment to authenticity in the evaluation process [4][5] Evaluation Process - The selection process for the "Must-Eat List" is based solely on user reviews, with no economic interests involved, and is conducted by a team of algorithm engineers, data engineers, and product managers [5] - The evaluation team analyzed 3.63 billion real reviews to select the 3,091 restaurants from over 6 million merchants, ensuring the credibility of the reviews [5] - A strong regulatory stance is maintained against businesses attempting to manipulate reviews, with independent verification processes in place [5] Business Strategy - Dianping operates independently within Meituan, focusing on enhancing user experience rather than commercial metrics [4][7] - The platform aims to maintain high information density and relevance to user needs, distinguishing itself from Meituan's efficiency-driven approach [7][8] - Future plans include launching additional lists such as "Must-Stay" and "Must-Play" to further integrate travel and dining experiences [3][9]

Core Insights - The 2025 "Must-Eat List" by Dianping has been released, featuring a record 3,091 restaurants across 144 cities and regions, marking the highest numbers in both city and restaurant counts in history [1] - The list includes over 2,400 small local eateries and more than 1,200 restaurants that have been operating for over 10 years [1] Summary by Categories City and Restaurant Growth - The number of cities on the "Must-Eat List" has increased from 77 in 2017 to 144 in 2025, representing a 25% increase from 119 cities in 2024 and a 136% increase from 61 cities in 2023 [1] - The number of restaurants listed has grown significantly, from 1,062 in 2017 to 3,091 in 2025, with the first breakthrough of over 2,000 restaurants occurring in 2023 [1] Localization and International Expansion - Dianping's Senior Vice President, Li Shubin, indicated that the company will enhance localized operations in various cities due to previous shortcomings [1] - The 2025 list includes 25 new cities, with 10 being smaller inland cities and 15 from Hong Kong, Macau, Taiwan, and overseas popular destinations, reflecting a growing demand for Dianping's services in international markets [1] Catering to Foreign Tourists - The increase in foreign tourists visiting China has led to a surge in demand for Dianping's services, prompting the launch of a translation page for the "Must-Eat List" to assist foreign visitors [1] - The company aims to establish overseas teams to expand its services more rapidly and effectively in international markets [1]

Group 1 - The 2025 "Must-Eat List" was unveiled in Nanjing, featuring 3,091 restaurants across 144 cities and regions, with Shenzhen ranking fifth in the number of listed restaurants at 84 [1][2] - The list includes 10 new domestic "Gourmet Small Cities" and 15 popular cities from Hong Kong, Macau, Taiwan, and overseas, with nearly 80% of the listed restaurants being local small eateries and over 40% being establishments over 10 years old [1] - Over half of the merchants on the 2025 list are newcomers, with more than 2,400 being lesser-known "small eateries" and over 1,200 being long-standing local establishments [1] Group 2 - In Shenzhen, 46 out of the 84 listed restaurants are local small eateries, accounting for nearly 55%, while 28 are over 10 years old, making up about 35% [2] - The list highlights local specialties, with nearly 43% of the restaurants showcasing city-specific cuisine, and almost half of these being new entries [2] - The platform has accumulated 363 million authentic reviews over the past year, assisting millions in discovering preferred dining options and destinations [2]

Core Insights - Dazhong Dianping's "Must-Eat List" is becoming a significant indicator in the dining industry, showcasing 3,091 restaurants across 144 cities, with over half being first-time entrants [2][3] - The list reflects a growing trend of consumers actively seeking out local flavors and sharing their experiences, with 3.63 billion real reviews contributing to the platform's credibility [2][3][8] - The dining landscape is evolving, with a notable increase in user engagement and a shift towards exploring local culinary gems, as evidenced by the 78 billion active searches for food in the past year [2][3] Summary by Sections Must-Eat List Overview - The 2025 "Must-Eat List" was unveiled in Nanjing, featuring 3,091 restaurants, with Shanghai, Beijing, Chengdu, Chongqing, and Shenzhen leading in the number of entries [2] - Over 2,400 of the listed restaurants are lesser-known local spots, while more than 1,200 are long-established eateries, with over 40% being over ten years old [2] Consumer Behavior Trends - Consumers are increasingly willing to explore local neighborhoods for authentic dining experiences, as shown by a 50% year-on-year increase in reviews for restaurants over ten years old [3][4] - The concept of "taste travel" is gaining traction, with over 60% of users in listed cities being from outside those areas, indicating a growing demand for culinary exploration [5] Evaluation Process - The "Must-Eat List" is built on a rigorous evaluation process involving data engineers and product managers, ensuring high credibility and objectivity in the selection of restaurants [8][9] - In the past year, the platform saw a nearly 60% increase in real reviews, with 3.63 billion evaluations used to select the 3,091 restaurants from over 6 million merchants [8][9] Impact on Local Businesses - The list has significantly boosted visibility for local eateries, with new entrants experiencing a 50% increase in user traffic and overall transaction volume following their inclusion [11][12] - Many small businesses, previously unaware of the list, have benefited from the exposure, leading to increased customer flow and engagement [11][12] Industry Trends - The dining industry is witnessing a shift towards authenticity and quality, with many restaurants focusing on fresh ingredients and customer experience rather than chasing artificial ratings [12][13] - The "Must-Eat List" serves as a vital tool for restaurants to understand consumer preferences and market trends, promoting a return to core culinary values [12][13]

Core Insights - Dazhong Dianping's "Must-Eat List" serves as a significant indicator in the dining sector, reflecting consumer preferences and trends in offline consumption [1][2] - The 2025 "Must-Eat List" was announced in Nanjing, featuring 3,091 restaurants across 144 cities, with 900 million food orders processed in the past year [2] - The integration of Dazhong Dianping into Meituan's core local business marks a new phase, emphasizing competition and collaboration within the industry [2][4] Business Integration and Strategy - The merger with Meituan enhances Dazhong Dianping's operational capabilities, leveraging Meituan's extensive infrastructure and business development resources [4][22] - Dazhong Dianping maintains its independence as a business unit, focusing on user experience and information density rather than aggressive commercialization [4][25] - The platform aims to balance being a tool for users while also serving as a content platform, emphasizing the importance of relevant information [9][10] Competition and Market Position - The competitive landscape has shifted towards a normalized state, with Dazhong Dianping focusing on its unique strengths in providing authentic user reviews and structured information [2][8] - The platform's commitment to maintaining high information density is seen as crucial for user engagement and satisfaction [3][10] - Dazhong Dianping's "Must-Eat List" is based on genuine user evaluations, with strict measures in place to prevent manipulation of ratings [11][15] Consumer Trends and Insights - There is a noticeable shift in consumer preferences from efficiency to experience, with a growing interest in local and unique dining options [12][13] - The platform has expanded its reach, exploring more cities and regions, thus uncovering hidden gems in the dining landscape [12][20] - Dazhong Dianping's focus on helping users discover local treasures aligns with its mission to enhance the dining experience [20][22] Future Directions - The company plans to enhance its offerings with new initiatives like "Must-Stay List" and "Must-Play List," further integrating dining with travel and leisure experiences [18][19] - Dazhong Dianping is exploring the use of AI to improve user experience in finding restaurants, indicating a forward-looking approach to technology integration [27] - The platform's future strategy will continue to emphasize its unique identity within the Meituan ecosystem, focusing on user needs and local experiences [24][26]

Core Insights - The 2025 "Must-Eat List" was officially announced, featuring 3,091 restaurants across 144 cities and regions, with Shanghai, Beijing, Chengdu, Chongqing, and Shenzhen being the top five cities in terms of the number of listed restaurants [1] - The list has expanded to include 10 new domestic culinary cities and 15 popular cities in Hong Kong, Macau, Taiwan, and overseas, reflecting the growing user interest in diverse local cuisines [2] - Over 80% of the listed restaurants are small local eateries, and more than 40% have been in operation for over 10 years, showcasing the enduring appeal of traditional dining experiences [1][2] Group 1 - The user base's culinary exploration radius has increased, with over 40% of the traffic in the newly added culinary cities coming from non-local users, and daily new reviews for restaurants increasing by up to 120% [2] - The platform has accumulated 363 million authentic reviews over the past year, aiding millions in discovering preferred dining options and destinations [2] - More than half of the restaurants on the 2025 list are newcomers, with over 2,400 being lesser-known local eateries and over 1,200 being established local favorites [2] Group 2 - The "Must-Eat List" has maintained its commitment to authenticity, with a selection process based solely on user reviews, free from any economic interests or commercial influences [3] - The list aims to provide users with a genuine representation of widely recognized dining establishments, reinforcing the platform's foundational principle of enhancing quality of life through real experiences [3]

Core Viewpoint - The launch of the "Black Pearl" restaurant guide overseas aims to cater to Chinese tourists' preferences for dining options that align with their taste, especially during international travel [1][14]. Group 1: Market Trends - The outbound tourism market for Chinese citizens is projected to reach 146 million trips in 2024, nearing pre-pandemic levels [3]. - Major destinations for Chinese tourists include Hong Kong and Macau (30%), Southeast Asia (14.7%), and Northeast Asia (10.6%) [3]. - Dining expenses account for 28% of total travel spending among Chinese tourists, highlighting their significant consumption power abroad [3]. Group 2: Consumer Preferences - Chinese tourists often struggle to find suitable dining options abroad that meet their taste preferences, leading to dissatisfaction with local restaurant ratings [1][3]. - There is a growing demand for authentic Chinese cuisine overseas, as many existing Chinese restaurants have not evolved to meet modern consumer expectations [4][5]. Group 3: Restaurant Strategies - New Chinese restaurants abroad are focusing on authentic flavors and high-quality dining experiences to attract Chinese customers [10][12]. - Successful overseas Chinese restaurants, such as "Yongfu" in Singapore, emphasize a diverse menu that includes various regional Chinese cuisines while maintaining high standards of service and quality [10][13]. - The "Black Pearl" guide, initiated by Meituan, provides a reliable reference for Chinese tourists seeking quality dining options abroad, enhancing their travel experience [14][15]. Group 4: Future Developments - Meituan plans to enhance its platform with AI technology to provide personalized services for cross-border dining and travel experiences [15]. - The expansion of the "Black Pearl" guide internationally is expected to facilitate better connections between Chinese consumers and overseas restaurants, promoting culinary innovation and cultural exchange [14][15].