Meituan Class B

03690: XHKG (HKG)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Meituan Earnings: Valuation Maintained Despite Results Miss; Long-Term Outlook Intact

Chelsey Tam

Nov 30, 2025

Meituan's third-quarter core local commerce EBIT plunged by CNY 29 billion year on year to a CNY 14 billion loss due to intense food-delivery competition, while new initiatives' EBIT loss widened by CNY 251 million due to expansion into food-delivery markets in Qatar, Kuwait, and the UAE.

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Meituan Class B

Meituan Earnings: Valuation Maintained Despite Results Miss; Long-Term Outlook Intact

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