Meituan recently released its Q4 2024 and full-year financial report. The report shows that Meituan achieved a revenue of RMB 337.6 billion in 2024, a 22% year-on-year increase, demonstrating the company's steady and sustainable growth.
At the subsequent earnings conference, Meituan CEO Wang Xing detailed the company's strategic plan for Artificial Intelligence (AI). Wang revealed that securing GPU resources was a top priority over the past year, with significant investment in AI infrastructure. He further stated that Meituan plans to further increase investment in key AI infrastructure in 2025 to strengthen its position in this field.
Wang emphasized that Meituan, as a technology company connecting offline and online businesses, will continue to play its unique connecting role in the AI era, striving for deep integration of the digital and physical worlds. He detailed Meituan's three strategic directions in AI: AI at work, AI in products, and Building LLMs.
In terms of AI at work, Meituan plans to apply AI technology to all employee workflows and company operations to significantly improve the efficiency and experience of its 100,000 employees. In the AI in products area, Meituan will use AI to upgrade its existing B2B and B2C products and services and launch new AI-native products. Simultaneously, Meituan will continue to increase capital expenditure (Capex) and improve its self-developed base model capabilities to drive the implementation of its Building LLM strategy.
Notably, Meituan has successfully developed a large language model, "Longcat," which has significantly improved employee efficiency. In the customer service field, a pilot project using an intelligent customer service agent powered by the self-developed large model has increased operational efficiency by 20%. In sales, the AI sales assistant successfully collected and updated holiday business information for 1.2 million merchants during the Spring Festival, effectively reducing sales workload by 44%. In R&D, the widespread application of AI coding tools has resulted in 27% of new code being generated by AI, greatly improving development efficiency.
Furthermore, Meituan has made remarkable progress in automated delivery. By the end of 2024, Meituan's automated delivery vehicles and drones had completed 4.91 million and 450,000 delivery tasks, respectively. Recently, Meituan drones officially launched commercial operations in Dubai and successfully completed the first low-altitude logistics delivery task in Hong Kong on March 20th, marking further expansion of Meituan's global presence.
