--- title: "Meituan-W released its first-quarter performance, with revenue of 91.039 billion yuan, an increase of 5.6% year-on-year" type: "News" locale: "en" url: "https://longbridge.com/en/news/288240789.md" description: "Meituan-W released its Q1 2026 results, with revenue of 91.039 billion yuan, a year-on-year increase of 5.6%, but gross profit fell 19% to 25.97 billion yuan, with an adjusted net loss of 4.968 billion yuan. The core local business operating profit turned negative, while losses from new businesses narrowed. The company stated that intensified industry competition has put pressure on profitability, but the instant delivery business performed steadily, with a strengthened user structure advantage, and cash and cash equivalents reached 117 billion yuan" datetime: "2026-06-01T08:41:02.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/288240789.md) - [en](https://longbridge.com/en/news/288240789.md) - [zh-HK](https://longbridge.com/zh-HK/news/288240789.md) --- # Meituan-W released its first-quarter performance, with revenue of 91.039 billion yuan, an increase of 5.6% year-on-year According to the Zhitong Finance APP, Meituan-W (03690) announced its performance for the three months ending March 31, 2026, with revenue of RMB 91.039 billion, an increase of 5.6% year-on-year; gross profit of RMB 25.97 billion, a decrease of 19% year-on-year; and an adjusted net loss of RMB 4.968 billion. In the first quarter of 2026, we recorded a loss of RMB 6.8 billion, compared to a profit of RMB 10.1 billion in the same period of 2025. Despite intensified industry competition putting pressure on our profitability, with total segment operating profit dropping to negative RMB 4.1 billion, we still achieved resilient year-on-year revenue growth. The operating profit of our core local business segment fell to negative RMB 2 billion, while the operating loss of the new business segment narrowed to RMB 2.1 billion. Consequently, our adjusted EBITDA and adjusted net profit fell to negative RMB 3 billion and negative RMB 5 billion, respectively. As of March 31, 2026, our cash and cash equivalents and short-term financial investments amounted to RMB 117 billion and RMB 63.3 billion, respectively. **Core Local Business** As the intense competitive landscape in the industry has eased somewhat, our instant delivery business performed robustly in the first quarter. On the user side, we further consolidated our user structure advantage, laying a solid foundation for our industry-leading operational efficiency. Although we adopted a more cautious strategy regarding subsidies, we continued to acquire new users and further increased the consumption frequency of core users, who demonstrated more diverse consumption needs and higher service quality expectations. We continuously reinforced the user perception of being the preferred platform for instant delivery, relying not only on our competitive pricing advantage but also on our comprehensive service system, reliable fulfillment capabilities, and high-quality supply. On the supply side, we strengthened our supply chain capabilities across multiple dimensions. With our comprehensive operational empowerment support, "brand satellite stores" rapidly scaled up, bringing higher order conversion rates and repurchase rates for merchants. Leveraging data insights, we empowered merchants to optimize menu structures and enrich the product offerings of "Pinhai Fan." We also upgraded the supply chain services for all "Meituan Lightning Warehouses," helping merchants improve inventory quality and optimize procurement efficiency, thereby enhancing user experience. Other innovative supply forms, such as "Yaimasongjiu" and "Brand Official Flag Lightning Warehouse," also maintained steady expansion. In addition, we improved the overall service experience on the platform, especially in delivery. Our "1-to-1 Urgent Delivery" service saw an increase in penetration among food delivery users, and we further expanded this service to "Meituan Flash Purchase" users, effectively meeting urgent shopping needs and high-end gifting scenarios. Besides enhancing user engagement, supply chain capabilities, and service offerings, we also intensified efforts to build a sustainable platform ecosystem. We provided targeted operational support to more small and medium-sized catering merchants. Through measures such as curbing malicious reviews, launching food loss guarantees, and AI-enabled operational tools, we assisted in improving the operational environment for platform merchants. We also introduced ten food safety enhancement measures to strengthen governance and supervision, focusing on strict merchant onboarding reviews, transparent operational management, and multi-party collaborative supervision Our in-store, hotel, and tourism businesses continue to consolidate their positioning as the preferred one-stop local service platform. Relying on supply-side optimization and refined investments, core categories have achieved steady growth. On the supply side, we continuously optimize our supply system with a high cost-performance diversified product portfolio, focusing strategically on creating high-quality supply. Our curated recommendation lists, including the "Black Pearl List," "Must-Eat List," "Must-Play List," and "Must-Stay List," have gained increasing market recognition, accurately directing traffic to quality merchants while providing consumers with clear and reliable reference information to assist them in making consumption decisions. We have also integrated an ecosystem that connects merchants, artisans, and consumers. Through personal digital profiles and specialized training, we support nearly 1.3 million professional artisans on the platform to enhance their professional skills and build personal brands. On the product side, we have integrated membership points with the membership systems of chain merchants, empowering them to optimize customer retention and management through platform data insights. Furthermore, to build a sustainable industry ecosystem, we actively formulate and improve industry standards related to service quality and consumer rights protection, aiming to enhance industry trust and reduce transaction barriers, especially for non-standardized local service categories. For example, we have expanded the "Peace of Mind Life Plan" to multiple service categories such as fitness, hairdressing, and massage services, while also launching verification mechanisms for medical devices and supplies in dental and medical beauty services, further solidifying the construction of information transparency, effectively improving conversion rates, and continuously enhancing long-term user engagement. **New Business** We adhere to high-quality growth in new businesses, upholding a principle of prudent expansion and pursuing excellent operational management. "Little Elephant Supermarket" continues to expand its geographical coverage, maintaining strong growth momentum and further strengthening its supply chain capabilities. The overall product quality and price competitiveness of the business continue to improve, with an increasing proportion of private label products. Keeta, leveraging economies of scale and operational optimization, has achieved significant improvements in operational efficiency in mature markets. In new markets, leveraging accumulated professional operational experience, we have achieved strong business growth while rapidly enhancing operational efficiency. We will continue to leverage our core advantages in product development, technical capabilities, and operational execution to further optimize Keeta's end-to-end consumer experience. In addition to achieving stable operations across various business segments, we are accelerating our AI layout in the first quarter of 2026, comprehensively enhancing service capabilities for consumers and merchants. Our AI assistant "Little Tuan" has completed iterations of its intelligent search function, providing more intelligent decision-making references for local life service users. We have also launched "Little Tuan Health Steward," allowing consumers to complete online consultations, purchase medications, and make medical appointment services in one stop on our platform. On the merchant side, we continue to promote a full suite of AI-enabled operational tools to address key operational pain points in the industry. Our "Smart Storekeeper" has served over 700,000 catering merchants, including national and regional chain brands. Our "Digital Employee" has supported over 300,000 service retail merchants across the industry. For hotel merchants, we have launched a dedicated AI solution "Jibai," which has been fully validated in both low-star and high-star hotels. These AI tools help merchants cope with complex operational scenarios while automating daily task processing, enhancing operational efficiency Looking ahead to the remaining time in 2026, we will focus on enhancing user experience, empowering merchants across the entire value chain, and making strategic investments in the ecosystem to consolidate the competitive advantages of each business segment. We will adhere to prudent and stable operations, pursue high-quality growth, and accelerate the deep integration of AI in both the physical and digital worlds to drive efficiency improvements across all businesses. We are committed to building a more resilient, value-centric ecosystem that creates sustainable returns for all stakeholders while further consolidating our long-term competitive advantages. We believe that our commitment to technological innovation and continuous investment in supply chain capabilities and ecosystem development will unlock long-term compounding value for the entire platform ### Related Stocks - [03690.HK](https://longbridge.com/en/quote/03690.HK.md) - [MPNGY.US](https://longbridge.com/en/quote/MPNGY.US.md) - [159666.CN](https://longbridge.com/en/quote/159666.CN.md) - [159662.CN](https://longbridge.com/en/quote/159662.CN.md) - [CWEB.US](https://longbridge.com/en/quote/CWEB.US.md) - [83690.HK](https://longbridge.com/en/quote/83690.HK.md) - [HMTD.SG](https://longbridge.com/en/quote/HMTD.SG.md) ## Related News & Research - [Meituan Returns to Loss in Q1 2026 as Retail-Focused Strategy Reshapes Revenue Mix](https://longbridge.com/en/news/288243919.md) - [China's Meituan Opens Errand Ordering System to Multiple AI Assistants](https://longbridge.com/en/news/287715884.md) - [09:23 ETFormer Sephora Americas CEO Jean-André Rougeot joins Veho's Board](https://longbridge.com/en/news/287928069.md) - [Chinese Robotics Startup Tianji Bags USD147.4 Million From GL Ventures, Meituan](https://longbridge.com/en/news/287528425.md) - [Meituan Puts Drone Delivery Infrastructure Into Commercial Use](https://longbridge.com/en/news/287320174.md)