Meituan released its 2025 annual performance report on March 26, 2026, showing full-year revenue of 364.9 billion yuan, a year-on-year increase of 8%. Affected by intensified competition in the instant retail industry, the company reported a net loss of 23.4 billion yuan for the year. In

the subsequent earnings call, Meituan CEO Wang Xing clearly identified AI as a strategic opportunity to strengthen core businesses, and announced that the company would firmly advance the development of its self-developed large language model LongCat, which aims to precisely understand the massive data of the physical world. Currently, Meituan has launched an AI assistant "Xiaotuan" in its main app, and also introduced an independent AI application "Xiaomei".

Meituan (2)

Compared with general chatbots, Meituan's AI strategy focuses on the "seamless integration of the digital world and the real world." "Xiaotuan" has already achieved a transition from simple keyword searches to natural language processing, leveraging Meituan's deep merchant POI data, real-time operational data, and user review system. It can handle complex decision-making scenarios such as "finding restaurants within a specific area that meet parking and taste requirements."

Wang Xing emphasized that the essence of AI competition lies in accurately understanding needs and efficiently executing tasks. Meituan is using AI to integrate delivery networks, supply chains, and autonomous delivery technologies. Although AI investment has affected short-term financial performance, Meituan plans to continue deepening AI search and task execution capabilities, aiming to upgrade the platform into a leading AI entry point in the local life services sector. This move marks a shift in the competition of local life services from "subsidy wars" to a "competition in operational efficiency and service experience" driven by AI. The evolution of AI agents (AI Agents) will become a key variable in the industry's digital transformation.