On July 2, Meituan-W rose 3.14% in regular trading, trading at 72.8 HKD/share, with turnover of 805 million HKD.

On the news front, the company officially released its next-generation trillion-parameter large model LongCat-2.0 on June 30, marking the industry's first trillion-level model entirely trained and deployed on domestically produced computing power. The model features 1.6 trillion total parameters, with its test version ranking among the top three globally in API call volume on OpenRouter, emphasizing Agentic Coding capabilities.

Simultaneously, the company executed consecutive share buybacks on June 29-30, repurchasing a total of 2.9248 million B-class ordinary shares for approximately 200 million HKD, fulfilling CFO Chen Shaohui's statement at the annual general meeting that the company's value is severely underestimated. Additionally, Xiangcai Securities initiated coverage with an Overweight rating, noting the company is in a profit recovery phase where valuation logic should shift from market share leadership to per-order economics improvement.

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