Meituan Returns to Profit in Q2 2026; Core Local Commerce Profit Surges

Meituan reported Q2 2026 results: revenue rose 14.4% YoY to RMB104.6 billion, with net profit of RMB2.2 billion, reversing prior losses. Core Local Commerce operating profit surged 52.3% YoY to RMB5.7 billion, with operating margin at 7.9%. New Initiatives narrowed operating loss to RMB1.7 billion. In-store, hotel, and travel businesses delivered resilient growth, while AI assistant Xiaotuan boosted user engagement.