Meituan snaps losing streak with profitable June quarter as price wars cool
SCMP·- Meituan posted an adjusted net profit of 2.5 billion yuan for the June quarter, ending a three-quarter losing streak as China's food delivery price wars cooled. - Revenue rose 14.4 per cent year on year to 105 billion yuan, driven by reduced promotional subsidies and a strategic focus on high-value customers. - To counter emerging competition from platforms like Douyin, Meituan is expanding globally through its Keeta platform and investing in artificial intelligence.Meituan Returns to Profit as Food-Delivery Competition Eases
MorningStar·- Meituan returned to profitability in the second quarter with a net profit of 2.155 billion yuan, equivalent to $320.6 million, ending a three-quarter streak of losses. - Revenue climbed 14 % year over year to 104.64 billion yuan, accelerating from 5.6 % growth in the previous quarter. - Both net profit and revenue figures beat market expectations as competition in China's food-delivery market eased.Meituan Q2 FY26 profit more than doubled to RMB 2.16 billion; revenue rises 14.4% to RMB 104.64 billion
PUBT·- Meituan reported its Q2 FY26 IFRS revenue rose 14.4% year-over-year to RMB 104.64 billion. - IFRS profit for the period more than doubled to RMB 2.16 billion, returning the company to profitability. - Core Local Commerce revenue increased 10.1% to RMB 71.53 billion, while New Initiatives revenue grew 25% to RMB 33.11 billion with a narrowed operating loss.Hong Kong Stocks Little Changed; Property Stocks Diverge, Meitu and Kingdee Surge Over 6%
Market Pulse·- On August 28, Hong Kong stocks fluctuated narrowly with the Hang Seng Index closing basically flat at 25584.79 points and a total market turnover of about 2300 billion HKD. - Sector performance showed significant divergence, with real estate stocks split sharply, tech software firms generally strengthening, and energy shares posting widespread gains. - Major highlights included Meitu and Kingdee rising over 6%, while real estate firms like Sunac surged more than 10% and Shimao dropped nearly 12%.Report: MEITUAN-W LongCat General Agent Team Head Gu Qi to Leave for Startup Venture
AASTOCKS News·- MEITUAN-W LongCat Team principal researcher and General Agent head Gu Qi is leaving the company. - Gu plans to start a business in the multimodal model sector and is currently in talks with venture capital firms. - As a core contributor to the LongCat series models, Gu previously worked at ByteDance and Ant Group.