Competitive PressureAnalyst is cautious on Meituan for the second half of the year due to expected margin pressure from intense competition in the food delivery business.
Earnings PerformanceMeituan's 2Q25 earnings missed expectations, with a non-IFRS net profit slumping 89% year over year and net margin shrinking to 2%.
Revenue Growth DecelerationRevenue growth in Meituan’s core local commerce segment slowed to 7.7% year over year in the second quarter, down from 18% in the first quarter.