What's curious is: Merchant profits are declining, Riders aren't making money, Customers are still spending a lot, And in the end, the platform is losing money, Where did the money go?
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In 2025, Meituan lost over 20 billion yuan.
What's curious is:
Merchant profits are declining,
Riders aren't making money,
Customers are still spending a lot,
And in the end, the platform is losing money,
Where did the money go?