Chinese delivery giant Meituan flags 24.3 billion yuan loss last year amid competition

Chinese food delivery giant Meituan (3690) has flagged a loss of up to 24.3 billion yuan (HK$27.5 billion) last year amid “unprecedentedly intense” industry competition.

It also anticipates the loss-making trend to continue into this quarter. 

The company expects it to book a loss of between 23.3 billion yuan and 24.3 billion yuan for 2025, compared to a 35.8 billion yuan profit in 2024.

The estimated loss was primarily due to a reversal from an operating profit of 52.42 billion yuan in 2024 to a loss of up to 7 billion yuan last year for the core local commerce segment.

Meituan stressed that its operations remain sound and stable, and that it has sufficient cash to support the steady development of its businesses.