On March 26, Meituan-W (03690) released its financial results for the fourth quarter and full year of 2025. The report indicates the company achieved annual revenue of 364.9 billion yuan, representing an 8% year-on-year increase. However, influenced by intense competition within the instant retail sector, Meituan's performance shifted from profit to loss, recording a full-year net loss of 23.4 billion yuan and an operating loss of 17 billion yuan. Specifically, its core local commerce segment reported an operating loss of 6.9 billion yuan.

Throughout 2025, Meituan continued to execute its "Retail + Technology" strategy, focusing on innovation, quality improvement, and ecosystem health to strengthen its competitive edge amid industry fluctuations. In the food delivery sector, Meituan maintained a stable market share of over 60% in Gross Transaction Value (GTV), despite sustaining significantly lower losses compared to its competitors.

In the technology domain, Meituan's research and development expenditure reached a new high, increasing by 23% year-on-year to 26 billion yuan, as the company persistently advanced the application of AI technologies in the physical world. Additionally, Meituan achieved breakthrough progress in both its grocery retail and international business segments.