Meituan Q2 conference call: It is expected that the core local business will experience a larger loss in the third quarter

On August 27th, during the earnings call, Meituan gave guidance on the performance of the third quarter. Meituan management said that the subsidy level of other platforms is still at a historical high, and Meituan will increase investment to cope with competition and increase investment in the industry ecology. Meituan will increase subsidies on the basis of maintaining the scale advantage of takeaway to ensure price competitiveness and stable performance experience. It is expected that the core local business will experience a large-scale loss in the third quarter. Meituan will dynamically adjust the investment scale according to the competitive situation and strategy. And believes that when the industry subsidy gradually returns to a rational level, takeaway will also return to a reasonable profit level.