Revenue and Profit Growth Meituan (03690.HK) announced its Q1 2025 financial results after the Hong Kong market closed today. The company reported robust growth across key financial metrics.
Total revenue reached RMB 86.557 billion, up 18.1% year-over-year. Operating profit surged 102.8% to RMB 10.566 billion. Adjusted net profit rose 46.2% to RMB 10.949 billion. Adjusted EBITDA increased by 52.4% to RMB 12.302 billion.
Core Local Commerce Performance The Core Local Commerce segment generated RMB 64.3 billion in revenue, growing 17.8% year-over-year. Operating profit for this segment jumped 39.1% to RMB 13.5 billion, with the operating margin improving by 3.2 percentage points to 21.0%.
Delivery service revenue grew due to increased order volume and reduced subsidies after the nationwide rollout of a membership program. Commission
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income rose with higher transaction values. Online marketing revenue expanded as more merchants adopted advertising services.
Food Delivery Business Strengthens Meituan’s food delivery business maintained healthy growth in Q1 2025. The company refined its operations to boost user engagement and purchase frequency, particularly among frequent users.
On the supply side, Meituan enhanced its “Group Meal” and “Flash Sale” features to meet diverse consumer demand. The company also introduced “Brand Satellite Stores,” helping chain restaurants expand efficiently.
Rider Welfare Initiatives Meituan continues improving rider benefits and working conditions. Since July 2022, the company has provided over RMB 1.5 billion in occupational injury coverage for riders in seven pilot provinces.
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In April 2025, Meituan launched a new pension subsidy program tailored for riders. By early May, participating riders had already received cash subsidies.
Meituan Instashow Rapid Growth Meituan Instashow (flash delivery) maintained strong momentum in Q1 2025, gaining wider consumer adoption. Categories like snacks, electronics, home appliances, and beauty products saw significant growth.
Valentine’s Day orders nearly doubled year-over-year, with flowers, small appliances, jewelry, and cosmetics being particularly popular among young consumers.
Travel and Hotel Business Expansion Meituan adapted to changing travel trends by strengthening partnerships with hotels and improving service quality. Enhanced membership benefits, including room upgrades and late check-outs, boosted brand recognition and cross-selling opportunities.
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New Business Segment Progress The New Business segment grew 19.2% year-over-year to RMB 22.2 billion. Operating losses narrowed by 17.5% to RMB 2.3 billion, with the loss margin improving by 4.6 percentage points to 10.2%.
Grocery retail and tech services saw efficiency gains. Meituan also supported export-oriented businesses in expanding domestic sales through marketing and distribution partnerships.
Overseas, Keeta gained traction in Saudi Arabia, becoming a popular food delivery platform with positive consumer feedback.
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