How Costly is the Food Delivery War? MEITUAN-W's Q2 Net Profit Drops 89% Year-over-Year

Deep News
08/27

On August 27, MEITUAN-W released its Q2 2025 financial results, showing revenue of 91.8 billion yuan, an increase of 11.7% year-over-year, with adjusted net profit of 14.93 billion yuan, down 89% year-over-year. For the first half of 2025, MEITUAN-W recorded revenue of 178.398 billion yuan, up 14.7% year-over-year, with adjusted net profit of 124.42 billion yuan, down 41% year-over-year.

According to the financial report, MEITUAN-W's core local commerce segment achieved revenue of 65.347 billion yuan in Q2 2025, up 7.7% year-over-year, while new business revenue reached 26.493 billion yuan, up 22.8% year-over-year. In terms of operations, for the core local commerce segment, MEITUAN-W's instant retail daily order peak exceeded 150 million orders in Q2, with an average delivery time of 34 minutes across all delivery orders. The in-store business also continued to grow this quarter, with order volume increasing by over 40% year-over-year. In the new business segment, Keeta's order volume and GTV (Gross Transaction Value) continued to grow this quarter. In the Hong Kong market, Keeta helped expand the overall industry capacity; in the Middle East market, Keeta further expanded coverage to 20 cities in Saudi Arabia by the end of July and recently officially launched services in Qatar.

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