Meituan acquires the large model startup Lightyear Beyond for 2.065 billion yuan

ChainCatcher news, Meituan announced on the Hong Kong Stock Exchange that it has completed the acquisition of 100% equity in the domestic and foreign entities of the large model startup Lightyear, with an acquisition price of approximately 2.065 billion RMB. The total consideration includes: cash of 234 million USD; debt assumption of 367 million RMB; cash of 1.00 RMB.

Meituan stated: "After the acquisition is completed, we will support the Lightyear team to continue exploring and researching in the field of large models." (source link)