Meituan has unveiled its financial outcomes for both the fourth quarter and the entirety of 2025, revealing an impressive annual revenue of 364.9 billion yuan, marking an 8% year-on-year surge. Due to the escalating competition in the instant retail sector, Meituan experienced a downturn, transitioning from profitability to a net loss of 23.4 billion yuan, coupled with an operating loss of 17 billion yuan for the year. Notably, its core local commerce segment suffered an operating loss of 6.9 billion yuan. Throughout 2025, Meituan remained steadfast in its 'Retail + Technology' approach, securing a GTV market share exceeding 60% in its food delivery business while keeping losses at a minimum. The company's commitment to technological innovation was evident as its investment in R&D climbed by 23% year-on-year, reaching 26 billion yuan. Simultaneously, Meituan made significant strides in grocery retail and its international endeavors.