---
title: "Citigroup: MEITUAN-W LongCat-2.0 open source benefits competitive moat, maintains \"Buy\" rating"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/292433890.md"
description: "Citi released a research report stating that MEITUAN-W will officially open source the trillion-parameter large model LongCat-2.0, believing that this strategic move will further consolidate its leadership position in the local life services market. The model's advanced Agentic architecture will enhance internal R&D efficiency and attract external developers. The report maintains a \"Buy\" rating on MEITUAN with a target price of HKD 113. It indicates that by leveraging its vast and proprietary offline transaction and operational data, MEITUAN can provide unique AI-driven marketing and business insights for small and medium-sized enterprises. The firm believes this will create a competitive moat, distinguishing it from other large language model providers and deepening relationships with merchants and consumers. The firm believes MEITUAN's model has a significant differentiation advantage due to its proprietary data from the rider network and accumulated experience in order dispatch algorithms"
datetime: "2026-07-13T03:59:03.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/292433890.md)
  - [en](https://longbridge.com/en/news/292433890.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/292433890.md)
---

# Citigroup: MEITUAN-W LongCat-2.0 open source benefits competitive moat, maintains "Buy" rating

According to the Zhitong Finance APP, Citibank released a research report stating that MEITUAN-W (03690) will officially open source the trillion-parameter large model LongCat-2.0, believing that this strategic move will further consolidate its leadership position in the local life services market. The model's advanced Agentic architecture will enhance internal R&D efficiency and attract external developers. The rating for MEITUAN is maintained at "Buy" with a target price of HKD 113.

The report indicates that by utilizing its vast and proprietary offline transaction and operational data, MEITUAN can provide unique AI-driven marketing and business insights for small and medium-sized enterprises. The bank believes this will create a competitive moat, distinguishing it from other large language model providers and deepening relationships with merchants and consumers. The bank believes that MEITUAN's model has a significant differentiated advantage due to its proprietary data from the rider network and accumulated experience in order dispatch algorithms

### Related Stocks

- [03690.HK](https://longbridge.com/en/quote/03690.HK.md)
- [C.US](https://longbridge.com/en/quote/C.US.md)
- [C-R.US](https://longbridge.com/en/quote/C-R.US.md)
- [83690.HK](https://longbridge.com/en/quote/83690.HK.md)
- [MPNGY.US](https://longbridge.com/en/quote/MPNGY.US.md)
- [HMTD.SG](https://longbridge.com/en/quote/HMTD.SG.md)

## Related News & Research

- [Mind Lab puts continual learning to the test with Macaron-V1](https://longbridge.com/en/news/294679520.md)
- [China’s tech giants race to put AI on delivery riders’ heads](https://longbridge.com/en/news/294660990.md)
- [Moonshot AI's Kimi K3 Becomes World's First Open-Source Model in 3-Trillion-Parameter Class](https://longbridge.com/en/news/294022004.md)
- [Everyday Health develops consumer report, open-source metabolic health tools to expand GLP-1 education beyond weight loss](https://longbridge.com/en/news/294245224.md)
- [Kompas VC joins $13 million Series A in Timefold led by Alstin Capital](https://longbridge.com/en/news/294511367.md)