Meituan Revenue Rises but 2025 Results Swing Deeply Into Loss

Meituan ( (HK:3690) ) has issued an update.

Meituan reported audited consolidated results for 2025 showing solid top-line expansion but a sharp swing into losses, underscoring the cost of its strategic push in local services. Annual revenue rose 8.1% year-on-year to RMB 364.9 billion, yet the company moved from a 2024 operating profit of RMB 36.8 billion to an operating loss of RMB 25.0 billion, and from net profit of RMB 35.8 billion to a net loss of RMB 23.4 billion, with non-IFRS metrics such as adjusted EBITDA and adjusted net profit also turning negative.

In the fourth quarter, revenue grew 4.1% to RMB 92.1 billion, but Meituan posted an operating loss of RMB 16.1 billion and a net loss of RMB 15.1 billion, compared with profits in the same period a year earlier. The deterioration in profitability, despite continued revenue growth, signals a phase of heavy investment or rising operating costs that may weigh on near-term earnings quality and could prompt investors and other stakeholders to reassess the company’s margin outlook and risk profile.

The most recent analyst rating on (HK:3690) stock is a Hold with a HK$93.00 price target. To see the full list of analyst forecasts on Meituan stock, see the HK:3690 Stock Forecast page.

More about Meituan

Meituan is a China-based technology platform that operates a wide range of local services, with core businesses in food delivery, in-store and travel services, and other local on-demand offerings. Listed in Hong Kong with dual currency counters, the company focuses on connecting consumers with merchants and service providers across urban markets in mainland China.

Average Trading Volume: 52,039,273

Technical Sentiment Signal: Sell

Current Market Cap: HK$555.7B

For detailed information about 3690 stock, go to TipRanks’ Stock Analysis page.