On July 6, Meituan-W rose 3.21% in regular trading, trading at HK$73.85/share, with turnover of HK$964 million.

On the news front, the company officially open-sourced its new-generation trillion-parameter large language model LongCat-2.0 and simultaneously released inference code optimized for domestic computing chips. The model features 1.6 trillion total parameters and is the first large-scale language model in China to complete full pre-training and inference workflows on a cluster of 50,000 domestic AI accelerators with zero NVIDIA content. The model emphasizes Agentic Coding capabilities and is expected to drive structural cost reduction in internal R&D and business automation.

Additionally, Meituan conducted consecutive share buybacks on June 29-30, repurchasing approximately 2.92 million Class B ordinary shares for a total of approximately HK$200 million. The company's CFO previously stated at the annual general meeting that the current share price is severely undervalued. A brokerage recently initiated coverage with a Buy rating, noting the company is in a profit recovery phase.

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