Meituan stock (KYG563371061): Q1 2026 earnings return group to loss but revenue grows

Meituan shares in Hong Kong traded higher at the start of the week as investors digested Q1 2026 figures showing a return to net loss alongside mid-single-digit revenue growth and a continued pivot toward retail-focused services in China.

Meituan opened the new week on a firmer note in Hong Kong trading after publishing first-quarter 2026 figures that showed revenue growth but a return to loss as the group pushed deeper into retail-focused services in its home market China. According to the company’s Q1 2026 earnings release, revenue reached around CNY 91 billion for the quarter, up about 5.6% year-on-year, while Meituan swung back to a net loss as spending on new initiatives and user incentives increased, based on data reported on 05/2026. The stock trades in the Hong Kong market under the symbol 3690 and is part of the Hang Seng Tech Index, anchoring its role in China’s consumer internet sector and positioning it as a bellwether for domestic services demand.

In home-country terms, Meituan is one of the higher-profile technology constituents on the Hong Kong Stock Exchange and a notable name in the Hang Seng Tech Index, meaning its share-price reaction to the Q1 2026 numbers is closely watched by investors tracking Chinese consumer and digital platform trends. Market data from Hong Kong indicated that Meituan’s share price moved up during the latest session as investors weighed the revenue expansion against the renewed quarterly loss and the company’s strategic shift toward a broader retail ecosystem. The Q1 update follows a period of regulatory recalibration in China, with policymakers emphasizing a more balanced stance toward large internet platforms and sustainable growth, which provides a macro backdrop for Meituan’s repositioning in its core market.

As of: 06/01/2026

By the editorial team - specialized in equity coverage.

At a glance

• Name: Meituan
• Sector/industry: Online food delivery, local services and consumer internet platform
• Headquarters/country: Beijing, Hong Kong
• Core markets: Mainland China urban and suburban consumer services
• Key revenue drivers: On-demand food delivery, in-store and travel services, newer retail initiatives including groceries and local e-commerce
• Home exchange/listing venue: Hong Kong Stock Exchange (3690.HK)
• Trading currency: HKD

Meituan: core business model

Meituan operates a multi-sided digital platform in China that connects consumers with local merchants for food delivery, lifestyle services, travel bookings and emerging retail formats, with revenue primarily generated from commissions, marketing services and transaction-related fees across these service categories.

What banks and research houses say about Meituan

No verified analyst coverage was identified at the time of publication.

Conclusion

The latest quarter underlined how Meituan’s strategy in its home market focuses on expanding its retail and local services ecosystem, even at the cost of a renewed quarterly loss alongside mid-single-digit revenue growth. With the Hong Kong-listed shares reflecting this balancing act between growth and profitability, the discussion around Meituan now centers on how quickly investments in new services can translate into more durable earnings metrics in China’s evolving consumer internet landscape.

Disclaimer: This article does not constitute investment advice. The comprehensive scope of this informative article was made possible through the use of a.i.. Stocks are volatile financial instruments.