Meituan Reports Half-Year Loss, Second Quarter Turns Profitable
Meituan announced a net loss attributable to parent company owners of 4.67 billion yuan for the first half of fiscal year 2026, but achieved profitability in the second quarter.
Chinese technology company Meituan released its financial report for the first half of fiscal year 2026, revealing a net loss attributable to parent company owners of 4.67 billion yuan (approximately $648 million USD). This figure contrasts with the company's performance in the same period of the previous year.
Total revenue for the first half of the fiscal year reached 195.68 billion yuan, marking a 10.1% increase year-over-year. However, the gross profit remained flat, contributing to the overall loss for the period.
The second quarter, however, showed a significant turnaround. Meituan reported a net profit of 2.16 billion yuan (approximately $299 million USD), a substantial 490% increase from the previous quarter. This indicates a return to profitability driven by operational improvements.
Meituan operates as a major local services platform in China, offering services including food delivery, restaurant bookings, and travel. The company aims to leverage artificial intelligence and drive growth across its diverse business segments.