Meituan-W released its first-quarter results, with profit attributable to equity holders of RMB 10.057 billion, an increase of 87.33% year-on-year

According to the Zhitong Finance APP, Meituan-W (03690) announced its performance for the three months ending March 31, 2025, with revenue of RMB 86.557 billion, an increase of 18.1% year-on-year; profit attributable to equity holders of RMB 10.057 billion, an increase of 87.33% year-on-year; and adjusted EBITDA under non-International Financial Reporting Standards of RMB 12.302 billion, an increase of 52.4% year-on-year.

The announcement stated that in the first quarter of 2025, the revenue of the core local commerce segment grew by 17.8% year-on-year to RMB 64.3 billion. Operating profit increased by 39.1% year-on-year to RMB 13.5 billion, while the operating profit margin improved by 3.2 percentage points year-on-year to 21.0%.

In the first quarter of 2025, the group's food delivery business maintained healthy growth. Through refined operational strategies, the group further enhanced user stickiness and purchase frequency, especially among medium to high-frequency users. On the supply side, the group continued to iterate on "Pin Hao Fan" and "Shen Qiang Shou," meeting consumers' diverse demands for high-cost performance products across different price ranges. Additionally, the group continued to assist food and beverage merchants in exploring new growth opportunities in a constantly changing business environment. Through innovative "brand satellite stores," the group enabled chain restaurants to expand geographically with a better cost structure. The group also iterated other offline store types, tailoring growth strategies and operational plans for chain restaurants. To help small and medium-sized merchants on the group's platform expand their customer base and achieve business growth, the group launched a series of support measures, including traffic support, free digital tools, and online services. Food safety and product quality have always been at the core of the group's food delivery business. The group launched the "Ming Chu Liang Zao" initiative to improve transparency in food safety and introduced other measures to help quality merchants gain more platform exposure. The group also provides subsidies for hardware procurement and installation costs for merchants participating in "Ming Chu Liang Zao." The group has announced plans to invest RMB 100 billion over the next three years to promote high-quality development in the industry. Looking ahead, the group will continue to support merchants in achieving business growth and navigating industry cycles while providing consumers with a rich variety of quality products.

In the first quarter of 2025, the new business segment's revenue grew by 19.2% year-on-year to RMB 22.2 billion. Operating losses narrowed by 17.5% year-on-year to RMB 2.3 billion, with the operating loss margin improving by 4.6 percentage points year-on-year to 10.2%.

In the grocery retail and software and hardware services sectors, the group further optimized operations, achieving impressive year-on-year efficiency improvements. Additionally, through grocery retail businesses such as Xiaoxiang Supermarket and Meituan Youxuan, the group provided comprehensive support for foreign trade enterprises, including marketing promotion, channel expansion strategies, and brand cooperation, helping quality foreign trade products enter the domestic sales market. The group's overseas business also achieved significant breakthroughs. Keeta showcased its product strength and technological advantages in Saudi Arabia, providing consumers with a better transaction and delivery experience. The group has received positive feedback from local consumers and is rapidly becoming one of the most popular food delivery platforms in the region