That compared with the 81 billion yuan average of analyst estimates compiled by LSEG. A lacklustre economic recovery in China has led to more firms pivoting towards low-cost and discounted products in the world's second-largest economy and Meituan has benefitted from delivering these goods for a small fee. Chief Executive Wang Xing told analysts in a post earnings conference call that Meituan had managed to adapt to China's latest consumption environment to achieve solid results. "Compared to other segments, the local commerce industry in China still has significant growth potential through digitalisation," he said. Meituan's total segment operating profit for the second quarter increased from 5.9 billion yuan to 13.9 billion yuan, and the total segment operating margin increased from 8.7% to 16.9%.