Industry Notes

Industry Notes / Meituan / Chapter 3 of 5 · Timeline

Where overseas Keeta stands

Hong Kong is the template; Saudi the amplifier; Brazil an option

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  1. May 2023
    Keeta launches in Hong Kong
  2. 2024
    Enters Saudi Arabia, first Gulf market
  3. Oct 2025
    Hong Kong monthly UE positive (~29 months); local order lead
  4. 2026
    São Paulo pilot; Saudi guided to monthly UE by year-end
  5. Constraint
    2026 new-business losses guided below ~RMB 101 bn in 2025

Hong Kong reached monthly UE breakeven in ~29 months; Saudi is guided faster; Brazil is one-city only. Overseas is the narrative that can reopen a growth multiple.

Source：美团管理层沟通与财报确认（Keeta 进度）

Research notes, not investment advice.