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Meituan's Q4 Loss Hits 15 Billion Yuan Amid Competition

3/26/2026

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Summary

Story summary

Meituan reported a 2025 Q4 adjusted net loss of 15 billion yuan, above a 12.9 billion yuan estimate.
This was Meituan's second straight quarterly loss due to fierce competition and a price war with Alibaba and JD.com.
The local commerce segment posted a 10 billion yuan operating loss as Meituan funded incentives.
For 2025, Meituan posted an adjusted net loss of 18.6 billion yuan, versus 2024's 44 billion yuan profit.

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Story summary

Meituan reported a 2025 Q4 adjusted net loss of 15 billion yuan, above a 12.9 billion yuan estimate.
This was Meituan's second straight quarterly loss due to fierce competition and a price war with Alibaba and JD.com.
The local commerce segment posted a 10 billion yuan operating loss as Meituan funded incentives.
For 2025, Meituan posted an adjusted net loss of 18.6 billion yuan, versus 2024's 44 billion yuan profit.