Meituan 2025 Financial Report: Core Local Business Losses of 6.9 billion yuan, Takeout GTV Share Exceeds 60%

Ask AI · What are the reasons for the core business losses of Meituan under the high takeout market share?

Beijing Business Daily (Reporter Guo Binlu) On March 26, Meituan released its financial performance for the fourth quarter and the entire year of 2025. The announcement shows that Meituan achieved revenue of 364.9 billion yuan for the year, a year-on-year increase of 8%. From the overall data, Meituan’s performance shifted from profit to loss, with a net loss of 23.4 billion yuan for the year and an operating loss of 17 billion yuan. Among these, the core local business segment had an operating loss of 6.9 billion yuan.

In the takeout sector, despite fierce competition in the industry, Meituan maintained a stable market share of over 60% in GTV. Additionally, Meituan has promoted the “30-minute delivery” service beyond restaurant takeout to various categories such as daily necessities and 3C digital products through innovative models like brand flagship lightning warehouses and self-operated front-line warehouses.

This year, the core local business continued to deepen the synergy between merchandise retail and service retail scenarios. The fully upgraded Meituan membership system covers a variety of consumption scenarios including restaurant takeout, hotel bookings, lifestyle services, travel, and healthcare, building a consumption ecosystem more in line with user needs. Driven by this, Meituan’s annual transaction user count and user consumption frequency both reached new highs. In the fourth quarter, the core local business’s operating loss was 10 billion yuan, significantly narrowing compared to the third quarter.

In 2025, Meituan’s grocery retail business and overseas operations achieved strong growth, driving new business segment revenue to 104 billion yuan, a year-on-year increase of 19%.

Elephant Supermarket has continuously deepened its supply chain, continuously improving the quality of fresh products, with merchandise capabilities leading the industry. By the end of 2025, Elephant Supermarket had entered 39 cities nationwide.

In terms of internationalization, Keeta is accelerating its global layout. Following its expansion in the Hong Kong region of China, Keeta has completed coverage of major countries in the Middle East Gulf region and is operating in Brazil.