Meituan’s Q1 Financial Report: Dual Engines of Retail and Technology Drive Growth, Annual Transaction Users Reach New High

On May 26, Meituan released its financial report for the first quarter of 2025, posting revenue of RMB 86.6 billion, an 18% year-on-year increase, showcasing the steady progress of its “retail + technology” strategy. Benefiting from multi-scenario advantages and continuous innovation, Meituan reached record highs in annual transaction users and active merchants this quarter.

Delivery and in-store services maintained stable growth. Delivery order volume continued to rise, and the “brand satellite store” model expanded rapidly, now covering over 480 brands and 3,000 stores. Meituan Flash Purchase also saw strong momentum, with daily orders surpassing 18 million and total users exceeding 500 million—especially among younger consumers born in the 1990s.

Meituan further expanded its membership ecosystem, integrating dining, accommodation, travel, entertainment, shopping, healthcare, and more into a comprehensive membership program, boosting user engagement and cross-business synergy. Internationally, Meituan’s brand Keeta achieved significant breakthroughs in Saudi Arabia and plans to enter Brazil soon.

On the technology front, Meituan invested RMB 5.8 billion in R&D this quarter, a 15% year-on-year increase, focusing on AI assistant applications and drone delivery. Its fourth-generation drones have already completed over 520,000 deliveries.

Meanwhile, Meituan is increasing ecosystem investments, pledging RMB 100 billion over the next three years to promote high-quality development across the industry, covering rider protection, digital innovation, merchant support, and food safety initiatives. Its rider protection programs, including pension insurance subsidies and the “new job injury” plan, have benefited millions of riders and received positive feedback.

Meituan CEO Wang Xing said the company will continue to innovate supply and service models to accelerate retail transformation and support the healthy growth of the sector. CFO Chen Shaohui also emphasized Meituan’s commitment to customer focus, technological empowerment, and long-term resilience and growth.

🟦 Highlights
✅ Revenue of RMB 86.6 billion, up 18% YoY, with solid growth in core commerce
✅ Strong performance in delivery and Flash Purchase, with rapid expansion of brand satellite stores and instant retail
✅ Annual transaction users and active merchants reach new highs
✅ International expansion: Keeta’s breakthrough in Saudi Arabia, Brazil next
✅ RMB 100 billion three-year investment plan for rider protection, digital innovation, merchant support
✅ Drone delivery and AI applications gain momentum, driving retail transformation with technology