In the first quarter of 2026, Meituan reported a total operating revenue of RMB 91.039 billion, marking a year-on-year increase of 5.61%. However, its net profit attributable to the parent company turned into a loss of RMB 6.827 billion, transitioning from a profitable to a loss-making position compared to the previous year. Meituan CEO Wang Xing disclosed that Meituan’s AI Agent, ‘Xiaomei’, is set to embark on a deep collaboration with Tencent Yuanbao. When users submit local service requests via Tencent Yuanbao, the system will directly link to Meituan’s local service ecosystem, offering one-stop transaction services. Wang Xing underscored the escalating significance of service AI Agents (To A). Meituan has already positioned its AI assistant, ‘Xiaotuan’, at the heart of the navigation bar in its main App and integrated AI functionalities into sectors such as healthcare. This partnership with Tencent Yuanbao will further broaden the reach of Meituan’s AI services and construct a more inclusive and open local service intelligent agent ecosystem.