Meituan snaps losing streak with profitable June quarter though Douyin threat looms
Meituan reported an adjusted net profit of 2.5 billion yuan (US$372 million) for Q2, ending a three-quarter loss streak. Revenue rose 14.4% YoY to 105 billion yuan, exceeding estimates. The company is reducing subsidies to focus on higher-value customers amid competition with JD.com and Alibaba.


