Meituan's overseas expansion is currently focused on food delivery, starting with the launch of Kita in Saudi Arabia:
- Kita launched in Riyadh in October 2023 and has shown good growth momentum
- Now operating in over a dozen major Saudi cities
- Leveraging experience and capabilities from China to gain an edge in product offerings, tech, and operations
- No concrete plans yet for expansion to other markets outside Saudi Arabia
- Focusing on building high-frequency food delivery traffic and delivery network as foundation
- May expand into other services/categories later, similar to strategy in China
- Increasing financial resources allocated to overseas expansion in 2025 vs 2024
- Aims for robust scale growth and market share gains while monitoring return on investment
Disclaimer: This earnings call summary is generated by AI and is for informational purposes only. Due to technical limitations, inaccuracies may exist. It does not constitute investment advice or commitments.