Meituan released LongCat-2.5 on November 2, the second generation of its in-house large model, and the numbers that matter most are not on any benchmark. The model carries 1.6 trillion total parameters and activates about 48 billion per token, was trained end to end, pretraining through inference optimization, on Chinese-made AI accelerators, and is served with a 1-million-token context window and up to 128,000 output tokens.
Pricing undercuts the field: 2 yuan per million input tokens (0.04 yuan on a cache hit) and 8 yuan per million output tokens, and Meituan is giving every new developer on longcat.ai 10 million free tokens. The model is natively multimodal, encoding images as discrete tokens in the same sequence as text, which lets it take a screenshot or a photo and then build or fix what it sees, from web pages to 3D scenes.
The engineering story is the point. Meituan says long-context fine-tuning throughput on a single domestic card rose 86 percent over a DDP baseline after the team co-designed the training stack with the chip vendor around supernode interconnects. On the inference side, a W4A4 quantization scheme with 4-bit weights and activations lifted prefill throughput 43.3 percent and decode throughput 42.77 percent against a W8A8 INT8 baseline, cut first-token wait by about 16 percent and per-token generation time by about 20 percent in online load tests. All of those figures are company-reported and have not been independently verified.
On capabilities, Meituan positions LongCat-2.5 for long-horizon agent work rather than chat. The company reports 38.5 on Terminal-Bench 4.0, up from 3.0 for LongCat-2.0, and says results across its evaluations land between Claude Opus 4.8 and Claude Opus 5, exceeding the latter on some tasks, again its own numbers. Training data for agent behavior came from real pull requests and issues in public GitHub repositories, plus failure traces from its own agents, replayed as reproducible tasks with tests attached.
The release continues a deliberate strategy. LongCat-2.0, launched June 30, was billed as the first trillion-parameter model fully trained and served on a 50,000-card domestic cluster with more than 30 trillion tokens of pretraining, and was open-sourced under MIT in July with inference adaptations from Huawei Ascend, Moore Threads and Muxi. CEO Wang Xing said on the August earnings call that Meituan will not be a token factory: the models exist to serve the core business. The LongCat stack already powers Miaoshou, an AI operations workbench for restaurant chains, and CatPaw, an internal agent platform Meituan says covers 90,000 employees and 30,000 agents.
For the industry, LongCat-2.5 is evidence that the domestic silicon question has moved from whether these chips can run a frontier model to how fast and how cheaply. A trillion-parameter model trained and quantized entirely on homegrown accelerators, with throughput gains that mostly come from software co-design, is a different argument than a paper benchmark. The open question is whether developers outside the Meituan ecosystem will adopt a model whose strongest results remain self-reported.
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