"厨房重地，闲人免进"——曾经，这块招牌为餐厅后厨蒙上了一层神秘面纱。然而，这种不透明也带来了焦虑， 消费者既担忧堂食菜品没有"锅气"，也质疑后厨食品安全，更怕点外卖遭遇"开盲盒"。 质疑与焦虑的根源，是后厨长期不透明运营所造成的信息不对称，背后折射出的是消费者对食品安全知情权的核 心诉求。让后厨走向"明厨亮灶"，用透明换取信任，正是餐饮行业发展的必由之路。 线上点餐可看大厨直播炒菜，若对堂食有偏好可以选择带有堂食服务的商家，外卖店、专营店订单全链条可追 溯……食品安全社会共治的基础是透明与信任。当前，美团正通过"明厨亮灶"、浣熊食堂、品牌卫星店等多模 式，展示"堂食店""现炒现制"信息等多项举措，推进食品安全透明化探索，携手各方构建食品安全社会共治的新 格局。 "无堂食"≠ "幽灵外卖" "幽灵外卖"的曝光曾一度引发公众的警惕和担忧，随之而来的"无堂食外卖"也受到牵连，甚至被误认为"幽灵外 卖"就是"无堂食外卖"。这一误解的原因，是对二者概念认知不够明晰。 红餐网发布的最新数据报告显示，纯外卖店在全国餐饮外卖经营商家中占比约为5.78%，集中分布在一、二线城 市。在外卖消费中，超过61%的消费者表示关注是否 ...

美团"浣熊食堂"重塑外卖生态：透明厨房与供应链革命开启品质消费新纪元 透明厨房：从"看不见"到"全直播"的信任革命 行业共振：从平台竞争到生态共建的格局升级 "浣熊食堂"的快速扩张，标志着外卖行业从"流量内卷"转向"价值共创"。美团宣布未来三年将投入1000亿元，用于硬件补贴、流 量扶持及"明厨亮灶"直播覆盖，计划年内拓展至20万家门店。这一战略不仅吸引全聚德、云海肴等头部品牌试水纯外卖模式， 更推动中小商家向标准化转型——例如，北京一家20平方米的轻食档口，通过接入"浣熊食堂"供应链，日均订单量从80单跃升 至300单，回本周期缩短至8个月。 2025年7月，美团在北京、杭州等地密集落地的"浣熊食堂"引发行业震动。这一以"全程可视可溯源"为核心的新业态，不仅重构 了外卖行业的安全标准，更通过集中式厨房、全链路数字化管控及供应链整合，为餐饮行业探索出一条从流量竞争转向品质深 耕的新路径。截至6月30日，全国已有10家"浣熊食堂"投入运营，累计吸引老乡鸡、德克士、全聚德等超100个品牌入驻，服务 用户超数十万，美团计划三年内将这一模式扩展至1200家门店，覆盖上万家餐饮商家。 在亮马河"浣熊食堂"示范区，鲜芋仙 ...

Core Viewpoint - The article highlights Meituan's commitment to food safety through innovative practices and collaborative efforts, showcasing its initiatives to enhance transparency and trust in the food delivery industry [1][3][6]. Group 1: Meituan's Food Safety Initiatives - Meituan has launched the "Mingchu Liangzao" initiative, connecting nearly 300,000 merchants to promote transparency in food safety, with over 150,000 merchants actively broadcasting their kitchens [3][5]. - The company has initiated a subsidy program of 50 million for merchants to cover hardware and installation costs, significantly reducing their operational expenses [3][5]. - Meituan's "Million Bright Kitchen" plan encourages small merchants to showcase their kitchen environments, providing special support and subsidies for those who engage in live broadcasting [3][6]. Group 2: Technological and Collaborative Efforts - Meituan has developed a "Food Safety Co-Governance Big Data System" to monitor food safety progress across various regions, allowing real-time access to merchant kitchen broadcasts and safety rankings [6][7]. - The company collaborates with regulatory bodies to enhance verification capabilities and has conducted offline inspections of over 500,000 merchants to ensure compliance with safety standards [6][7]. - Meituan aims to integrate its food safety scoring system into the merchant evaluation framework, enhancing consumer awareness of food safety risks [6][7]. Group 3: Future Plans and Industry Impact - By the end of 2024, Meituan plans to establish 1,200 "Raccoon Kitchens" to support thousands of restaurants in upgrading their food quality and safety practices [5][6]. - The company emphasizes the importance of multi-party collaboration in food safety management, continuously exploring technological innovations and data applications to ensure consumer trust [7][8].

Core Insights - The "Shanghai Safe Takeaway" white paper was released, highlighting the importance of food safety in the takeaway industry and consumer trust [1][3] - The paper indicates that "no dine-in" does not necessarily correlate with "ghost kitchens," and nearly a quarter of respondents are open to "independent takeaway specialty stores" [1][7] Consumer Behavior Trends - Takeaway consumption in Shanghai shows a "high-frequency necessity," with 54.58% of respondents ordering more than three times a week, and 19.85% ordering daily [3] - 66.49% of respondents order takeaway on weekends or holidays [3] Trust Factors in Food Safety - Consumer trust in food safety is primarily derived from safety benchmarks, transparency, and brand endorsement [3] - 64.81% of consumers believe that "real-time kitchen live streaming and visualized operations" significantly enhance trust [5] - Other trust-enhancing factors include "no food safety negative reviews" (63.28%) and "using food safety seals" [3][5] Industry Developments - Since February, 117,000 merchants have activated "real-time kitchen live streaming" on Meituan, with expectations of over 200,000 by the end of 2025 [3][5] - Meituan plans to invest in 1,200 "Raccoon Canteens" across the country over the next three years, aiming for 100% transparency in food safety [5] Misconceptions Clarified - The white paper clarifies misconceptions about "ghost kitchens" and "no dine-in" establishments, stating that the latter has low investment and operational costs, catering to various consumer needs [7] - The actual proportion of ghost kitchens is minimal, with strict qualification checks for merchants on takeaway platforms [7] Food Safety Monitoring Initiatives - The overall food safety in Shanghai is reported to be stable, with a 99.4% compliance rate in food monitoring last year [8] - The initiative encourages a collaborative approach to food safety, involving government, businesses, and public supervision [8] - Meituan has implemented a "rider food safety supervisor" program, allowing delivery personnel to report food safety issues, with over 500,000 stores covered by safety inspections [8]

Core Insights - Meituan reported a revenue of 91.84 billion RMB for Q2 2025, representing a year-on-year growth of 11.7%, while adjusted net profit plummeted by 89% to 1.49 billion RMB [2][3] - For the first half of 2025, Meituan's revenue reached 178.3 billion RMB, a 14.7% increase year-on-year, but adjusted net profit decreased by 41% [2] Revenue Breakdown - The core local commerce segment generated 65.3 billion RMB in revenue, up 7.7% year-on-year, but operating profit dropped significantly by 75.6% to 3.7 billion RMB, with a profit margin of 5.7%, down 19.4 percentage points [4] - New business revenue grew by 22.8% to 26.5 billion RMB, contributing 28% to total revenue, primarily driven by grocery retail and overseas business expansion [5] Cost and Marketing Expenditure - Overall sales costs increased by 27% to 61.4 billion RMB, accounting for 66.9% of revenue, up 8.1 percentage points year-on-year [6] - Sales and marketing expenses surged by 51.8% to 22.5 billion RMB, representing 24.5% of revenue, an increase of 6.5 percentage points, largely due to intensified competition in food delivery and instant retail [6] Strategic Focus and Future Outlook - CEO Wang Xing emphasized the company's commitment to maintaining market position amidst fierce competition, focusing on essential service quality and cost-effectiveness [2][4] - For Q3, Meituan anticipates significant losses in core local commerce due to high subsidy levels from competitors, planning to increase investments to ensure competitive pricing and stable service delivery [7]

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]

Core Insights - Meituan-W (03690) reported a revenue of RMB 178.398 billion for the six months ending June 30, 2025, representing a year-on-year increase of 14.7% [1] - Adjusted net profit decreased by 41% to RMB 12.442 billion, while profit attributable to equity holders fell by 37.67% to RMB 10.422 billion, with basic earnings per share at RMB 1.72 [1] - In Q2 2025, revenue reached RMB 91.84 billion, up 11.7% year-on-year, but adjusted net profit plummeted by 89% to RMB 1.493 billion [1] Revenue and Profitability - The company's core local business segment saw a significant decline in operating profit to RMB 3.7 billion due to intense competition in the food delivery sector [1] - The new business segment reported an expanded operating loss of RMB 1.9 billion, contributing to a decrease in adjusted EBITDA and adjusted net profit to RMB 2.8 billion and RMB 1.5 billion, respectively [1] - Operating cash inflow for Q2 was RMB 4.8 billion, with cash and cash equivalents and short-term investments totaling RMB 101.7 billion and RMB 69.4 billion, respectively, as of June 30, 2025 [1] Business Segments Performance - The instant delivery business maintained market position with a 7.7% year-on-year revenue growth to RMB 65.3 billion, despite a 75.6% drop in operating profit to RMB 3.7 billion [2] - The company focused on enhancing user experience and expanding service offerings, including partnerships with restaurants for supply-side innovations and the promotion of high-value consumption scenarios [2] - The "Meituan Flash Purchase" business experienced strong growth in order volume and transaction value, with over 50,000 flash warehouses established nationwide [3] Digital Transformation and AI Integration - The company is actively promoting digital transformation among merchants, providing integrated solutions for store management, marketing, and customer acquisition [4] - Over 1 million independent artisans have been assisted in digital archiving to enhance sales and consumer connections [5] - AI tools have been introduced to improve operational efficiency, including AI customer service representatives and AI scheduling assistants [5]

Core Insights - Meituan has launched a partner recruitment initiative for its centralized takeout kitchen brand "Raccoon Kitchen," initially limited to five cities: Beijing, Shanghai, Guangzhou, Shenzhen, and Hangzhou [1][2] - The company plans to invest in the establishment of 1,200 "Raccoon Kitchen" locations across the country over the next three years, following a successful trial operation that began in July [1] Investment Requirements - Partners are required to have an initial investment of approximately 1.5 million yuan per store, with at least 1 million yuan in cash or asset proof [1] - Partners must secure locations in popular takeout districts, with a building area of 500-1,000 square meters and a remaining lease term of no less than eight years [1] Operational Structure - The partnership model for "Raccoon Kitchen" differs from traditional franchise models, where partners are responsible for securing locations, renovation, and assisting with necessary permits for incoming food vendors [2] - Meituan will handle recruitment, pricing, marketing, on-site management, and training, while the basic salary for store managers will be covered by the partners [2] Financial Incentives - Meituan has introduced promotional policies to waive or limit certain fees for partners during the initial recruitment phase [1]

此外，美团还建议合伙人额外配置约100万的动态运营资金。据了解，除前期装修投资外，合伙人还需 要缴纳品牌保证金以及合作服务费、品牌管理费等多项合作启动和支持费用。不过，在加盟开放初期， 针对部分费用，美团推出了全免或限免的优惠政策。 美团曾多次公开强调"绝不自营，绝不下场与商家竞争"，在品牌和合伙人的分工方面，"浣熊食堂"的加 盟模式与传统加盟模式也略有不同。"浣熊食堂"的合伙人只负责获取点位、装修施工以及必要时协助入 驻的外卖商家办理证照，美团则负责招商、定价、营销、现场管理、招聘培训和考核店长，但店长的基 本工资由合伙人承担。 责任编辑：郭栩彤 经过半年多的试运营，今年7月初，美团正式推出集中式外卖厨房品牌"浣熊食堂"。官方资料显示，截 至7月初，"浣熊食堂"已在北京、杭州等地运营10家门店，超100个餐饮商家入驻。未来3年，美团将在 全国各地投资建设1200家"浣熊食堂"。 新浪科技了解到，美团对合伙人的硬性要求主要有两点：一是资金要求，前期投资资金约150万/店，合 伙人需要提供100万以上的现金或资产证明；二是点位要求，合伙人需要已经获得位于外卖热门商圈、 建筑面积500-1000平方米且剩余租赁年 ...

Core Insights - The takeaway from the article is that the food delivery market is experiencing significant changes, shifting from price wars to supply chain competition, with Meituan's "Raccoon Canteen" model representing a new paradigm in the restaurant industry [1] Group 1: Industry Trends - The food delivery market has become increasingly competitive, moving beyond just pricing strategies to focus on supply chain efficiencies [1] - Meituan's introduction of the "Raccoon Canteen" model utilizes digital shared kitchens to reconstruct traditional restaurant operations [1] - This innovative approach addresses food safety management issues faced by small and medium-sized businesses while enhancing overall industry efficiency through centralized operations [1] Group 2: Potential Implications - The "light asset + digital" model proposed by Meituan may serve as a new standard for the transformation and upgrading of the restaurant industry [1] - The impact of this model on the competitive landscape of the food delivery market remains to be seen, as it could redefine operational strategies for various players in the industry [1]