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Meituan Issues $3.5bn Loss Warning for Fiscal 2025 amid Competition
February 16, 2026
Chinese food delivery tech giant Meituan issued a warning, projecting a large net loss of nearly $3.5bn for the fiscal year 2025. This is in stark comparison to the profits of $5.2bn that it reported in 2024. The company primarily attributed this to an escalating “price war” in the food delivery and local services sectors. The company is trying to defend its market share against rivals like ByteDance’s Douyin and Alibaba’s Ele.me. Meituan significantly increased spending on consumer incentives and merchant subsidies to counter Douyin’s expansion into in-store services. In addition, there were high operational costs associated with “Meituan Select” and other community group-buying ventures, that have hurt its bottom line. Besides, ongoing compliance with updated social security requirements for “gig economy” delivery riders has also pressured its margins. Analysts note that while Meituan remains the market leader, the cost of maintaining its dominance in a maturing economy is becoming increasingly prohibitive.
Meituan’s dollar bonds were trading stable, with its 4.5% 2031s at 99.8, yielding 4.5%.
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