Meituan earnings date and guidance

Meituan's next results are expected on November 27, 2026. Watch whether delivery remains profitable through summer costs while expansion stays within management's loss ceiling.

What has Meituan guided for 2026?

New Initiatives is a reporting bucket, not a separate company. It includes businesses such as Keeta overseas delivery and grocery, while Core Local Commerce contains Meituan’s established operations. New Initiatives lost RMB10.082 billion in 2025, and management says its loss in 2026 should not exceed that level.

For delivery, management expects unit economics to remain positive in Q3, although weaker than in Q2. Unit economics measures whether one order covers the costs directly caused by serving it. If Meituan keeps RMB8 from an order and spends RMB7 on the courier and other order-specific costs, that order contributes RMB1. The contribution may still be too small to pay for engineers, offices and expansion.

Did Meituan keep its promise on Select?

There is evidence of progress, but not a clean Select scorecard. Management promised in March 2024 to reduce Meituan Select’s operating loss; the broader New Initiatives loss fell from RMB20.2 billion in 2023 to RMB7.3 billion in 2024. That basket included several businesses, so the improvement cannot prove what happened at Select alone. Wang later called Select a strategic mistake after its effective wind-down.

What do Meituan's last eight reported periods show?

The eight-quarter sequence gives the result its proper scale. Revenue growth first slowed sharply, then recovered, while operating losses narrowed before the June profit. The latest gross margin nevertheless remained below the level reached in September 2024.

What should I watch in Meituan's next results?

The next results must show whether delivery remains profitable through summer costs and whether expansion stays within management’s loss ceiling.