Understanding the Market | Meituan-W rises nearly 6% again, with embodied intelligence layout possibly entering a harves…

Meituan-W rose nearly 6% again, with a cumulative increase of nearly 30% this month. As of the time of writing, it rose 5.08%, trading at HKD 87.9, with a transaction volume of HKD 2.958 billion. In terms of news, recently, Meituan announced the official open-sourcing of all model weights, inference engines, and core technical documents for LongCat-2.0. This model is the first in the industry to complete full-process training and inference on a 50,000-card domestic computing power cluster, with a total of 1.6 trillion parameters and a pre-training data scale exceeding 30 trillion tokens, natively supporting 1 million ultra-long contexts. Citigroup stated that Meituan's open-sourcing of LongCat-2.0 is expected to further consolidate its leadership position in the local life service market. It is worth noting that Yushu Technology's Sci-Tech Innovation Board IPO registration has been effective since early July. According to a research report released by Puyin International, based on Yushu Technology's prospectus, Meituan is its largest external shareholder, holding a total of 9.65%. The report pointed out that Meituan has invested in more than ten companies in the field of embodied intelligence. With the humanoid robot sector entering a wave of IPOs, in addition to investment returns, the company can also leverage embodied intelligence to empower existing businesses and reduce long-term fulfillment costs. Furthermore, the implementation of this large model may drive the market to re-evaluate the company