Meituan Q2 telephone conference call: It is expected that the core local business will experience significant losses in the third quarter.

During the financial report conference call, Meituan provided guidance on its performance in the third quarter. Meituan's management stated that the subsidy levels on other platforms are still at historically high levels, and Meituan will increase investment to deal with competition, as well as increase investment in industry ecology. Meituan will increase subsidies while maintaining its advantage in the delivery scale to ensure price competitiveness and stable delivery experience. It is expected that there will be significant losses in the core local businesses in the third quarter, and Meituan will adjust its investment scale dynamically according to the competitive situation and strategy. It is believed that when industry subsidies gradually return to rational levels, the profitability of delivery will also return to a reasonable level.