On August 31, MEITUAN-W rose 3.1% in regular trading, trading at HK$80.05/share, with turnover of HK$543 million. The rally follows the company's Q2 earnings release on August 28, which significantly exceeded market expectations, prompting multiple institutions to raise their target prices.

According to the earnings report, MEITUAN-W posted Q2 revenue of RMB 104.64 billion, up 14.4% year-over-year and above the market consensus estimate of RMB 101.08 billion. Adjusted net profit reached RMB 2.52 billion, surging 69% year-over-year and far exceeding the estimated RMB 340 million. The core local commerce segment swung to profitability on a sequential basis. The new initiatives segment recorded 25% year-over-year revenue growth, with operating loss margin narrowing from 7.1% to 5.3%. Management guided that food delivery unit economics (UE) are expected to improve notably year-over-year in Q3, while Keeta has already achieved profitability in the Saudi Arabia market. On the AI front, CEO Wang Xing emphasized that the company will not become a \"token factory,\" instead deploying its LongCat 2.0 model and AI capabilities to enhance its core business operations and merchant services.

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