HomeFinanceMeituan Pronounces Monetary Outcomes for the Three Months Ended September 30, 2022

Meituan Pronounces Monetary Outcomes for the Three Months Ended September 30, 2022


HONG KONG, Nov. 25, 2022 /PRNewswire/ — Meituan (HKG: 3690) (the “Firm”), a number one technology-driven retail firm in China, as we speak introduced the unaudited consolidated outcomes of the Firm for the three months ended September 30, 2022.

Firm Monetary Highlights

In the course of the third quarter of 2022, our revenues elevated by 28.2% to RMB62.6 billion from RMB48.8 billion for a similar interval of 2021. Our Core native commerce section achieved an working revenue of RMB9.3 billion for the third quarter of 2022, up from RMB4.2 billion for a similar interval of 2021, whereas the working loss for our New initiatives section repeatedly narrowed to RMB6.8 billion for the third quarter of 2022. Our adjusted EBITDA and adjusted web revenue had been RMB4.8 billion and RMB3.5 billion for this quarter respectively, turning from loss positions to revenue on a year-over-year foundation and having exceptional will increase on a quarter-over-quarter foundation. We held money and money equivalents of RMB23.3 billion and short-term treasury investments of RMB88.3 billion as of September 30, 2022.

“Due to our steady exploration and modern providers on the demand and provide of the retail {industry}, Meituan continued to realize regular development this quarter,” stated Meituan Founder and CEO Xing Wang. “Below the ‘Retail + Know-how’ technique, we’ve got been firmly centered on our mission of serving to folks eat higher, reside higher. Going ahead, we’ll proceed to speed up the digital transformation of the life providers and retail sectors by technological improvements, to assist combine the digital financial system with the actual financial system, and to make efforts for our customers and ecosystem companions in pursuing higher lives,” concluded Wang.

Meituan CFO Shaohui Chen stated, “On this quarter, the evolving retail codecs represented by on-demand retail have introduced a number of advantages, together with bettering the expertise for customers and digitalizing brick-and-mortar companies. Sooner or later, Meituan will proceed to strengthen its core capabilities for its customers, retailers, couriers, and our ecosystem companions. We’ll create long-term worth for all {industry} members.”

Firm Enterprise Highlights

Core native commerce

Within the third quarter of 2022, we achieved strong income development of 24.6% on a year-over-year foundation for the Core native commerce section, regardless of unfavourable impacts from the pandemic. Working revenue elevated by 124.6% on a year-over-year foundation to RMB9.3 billion, and working margin improved to twenty.1%.

In the course of the quarter, the whole order quantity of our meals supply and Meituan Instashopping companies elevated by 16.2% on a year-over-year foundation. We continued to concentrate on prime quality development for the meals supply enterprise, with day by day order quantity exceeding 60 million on the very best single day in early August. On the buyer facet, we successfully met extra various demand throughout completely different eventualities, utilizing our optimized advertising ways, refined operations and diversified campaigns. In consequence, the variety of Transacting Customers on our platform continued to develop steadily, and quarterly consumption frequency reached a report excessive. On the service provider facet, we onboarded extra eating places within the breakfast, afternoon tea and late-night snacks classes, and subsequently elevated the variety of Energetic Retailers on our platform. Furthermore, we iterated our advertising instruments to assist retailers appeal to and retain clients. We additionally simplified our digital options, optimized the operational mechanism, enhanced the user-friendliness, and improved the advice options, to carry higher utilizing expertise and better working effectivity to the retailers, which additional helped speed up the digital transformation of the restaurant {industry}.

Meituan Instashopping maintained excessive development momentum within the third quarter of 2022, with classes resembling supermarkets, flowers, liquor and drinks, non-food specialty shops, and pet care repeatedly rising quickly. The year-over-year development in person base, buy frequency, and retention fee all accelerated, because of the rising demand from customers and the optimized provide on our platform. Every day order quantity reached new excessive to 9.7 million on Chinese language Valentine’s Day in August. In the course of the quarter, we continued to strengthen our collaborations with mainstream manufacturers and continued to type new strategic partnerships. For instance, the variety of approved sellers for Apple on our platform expanded to over 200 cities, and the gross sales quantity of iPhone 14 on its launch day grew robustly. Furthermore, we onboarded lots of of Suning shops to our platform and initiated strategic alliances. Subsequently, each the variety of Energetic Retailers and variety of newly-onboarded retailers grew by 30% on a year-over-year foundation. We’re proud that the buyer mindshare of Meituan Instashopping as with the ability to ship all the pieces to their doorsteps has additional strengthened, and we’ll proceed to fulfill their demand with higher services going ahead.

As our enterprise grows, we additionally proceed to shoulder extra social duties to create extra native job alternatives throughout the nation, and proceed to boost the welfare and advantages for our couriers. Within the third quarter, we additional optimized our order dispatch system and inspired eating places to add the estimated pick-up time, in order that the couriers can plan forward and keep away from early arrival at eating places to save lots of their time. We additionally labored relentlessly to assist enhance the job satisfaction and sense of success of our couriers. For instance, on the annual “Couriers’ Day” on July 17, we hosted a lot of occasions for couriers and their households, to distribute vacation items and rewards for the couriers’ diligent work and steady service amid the pandemic. As well as, when excessive warmth swept the nation this summer time, we not solely adjusted the utmost supply distance in our order dispatch system, but in addition provided protections, subsidies and different varieties of advantages for couriers working beneath excessive temperature circumstances.

Our in-store, resort and journey enterprise demonstrated resilience, particularly throughout summer time holidays, with the variety of annual Energetic Retailers and quarterly Transacting Customers each reaching historic highs. We continued to iterate our operational technique, offered extra comfort and effectivity to our retailers and customers, and assisted native governments in distributing consumption vouchers to stimulate native consumption. Due to our complete product protection, in addition to the flexibility to seize the quickly altering consumption traits, we had been in a position to regularly optimize provide, improve cross-sell, and meet the huge demand from customers. As well as, we continued to onboard chain eating places within the light-meal and quick meals classes and provided differentiated digital options, serving to them broaden their product protection and increase transaction eventualities. We additionally launched a self-pickup operate for restaurant retailers, and offered on-line advertising help and operational instruments. Different in-store service classes, resembling pet care and medical providers, maintained strong income development throughout the quarter, whereas tenting and different fashionable consumption classes boomed throughout the summer season. Moreover, we continued to innovate new content material codecs and optimized content material show on the platform, to offer higher person expertise and assist customers make efficient choices. Going ahead, we’ll proceed to iterate our operations to offer extra comfort and effectivity for the retailers and customers.

The continued pandemic continued to carry challenges to our resort & journey enterprise, particularly in September, throughout which, some vacationer cities had been closely impacted by the outbreaks. However, demand for native lodging was comparatively resilient and continued to outpace inter-city journey actions. We leveraged our aggressive benefit to characteristic specialty native excursions and lodging in chosen high-tier cities, and efficiently captured shopper demand. We additionally collaborated with resort manufacturers, resembling Marriott Group, and launched joint advertising occasions and joint-membership schemes, to deepen our market penetration within the high-star resort market. As well as, we continued to collaborate with theme parks by particular advertising occasions to assist retailers purchase visitors and stand up to troublesome occasions.

New Initiatives

Within the third quarter of 2022, income from the New initiatives section elevated by 39.7% on a year-over-year foundation to RMB16.3 billion, primarily pushed by the expansion attributable to the products retail companies. Working loss narrowed barely on a sequential foundation to RMB6.8 billion, whereas working margin improved to unfavourable 41.6%, primarily attributable to an enchancment in working effectivity from the products retail companies.

For Meituan Choose, we continued to concentrate on high-quality development, and upgraded our model positioning to “Subsequent-day Grocery store” (“明日達超市”) to seize the newest consumption traits and to ship a clearer message to our customers. Presently, the upgraded model has lined practically 3,000 cities and counties, permitting us to higher fulfill shopper demand for wider picks of merchandise with increased high quality and extra inexpensive costs. By the nationwide logistics and self-pickup networks we constructed, we facilitated the mixing between digital financial system and actual financial system. In the course of the third quarter, we continued to enhance our provide chain and logistics capabilities, and maintained our market management. As well as, we enhanced our core competence in product choice, pricing technique, success effectivity, and provide chain administration. We innovatively piloted an industry-leading smart-sorting system, bringing higher success experiences for customers, whereas regularly enhancing our success effectivity at diminished prices. We additionally continued to optimize our cold-chain logistics and utilized it to broader classes, together with meat and poultry, aquatic merchandise and frozen meals. Leveraging the nationwide logistics community, we regularly supported “rural revitalization” and the circulation of agricultural merchandise, which contributed an more and more increased mixture of our complete gross sales. In the course of the pandemic outbreaks, we actively participated within the pandemic management scheme, and supported native authorities in offering ample provide of meals, drinks and day by day requirements for folks from the affected areas.

Meituan Grocery continued to expertise robust year-over-year development, which was a results of our improved product and repair choices and enhanced shopper mindshare. We expanded our merchandise to broader classes and picks, whereas growing the availability of native and seasonal merchandise. We launched a “Regionally-sourced Chosen Product” (“本地尖貨”) program and labored carefully with native governments and farmers from the merchandise’ locations of origin, permitting these merchandise to successfully attain native customers. As well as, we labored with native governments in offering sensible trainings for “new farmers”, to assist them to develop and promote agricultural merchandise. We consider that these measures will deepen the mixing of the service {industry} with the agriculture {industry}, and successfully assist farmers improve manufacturing quantity and private revenue.

Though the pandemic has introduced short-term impacts, we’ve got full confidence within the long-term growth of our companies and we firmly consider that native consumption will finally recuperate to its regular development trajectory when the pandemic is over. We stay dedicated to our “Retail + Know-how” technique, and intention to facilitate the digital transformation course of throughout industries. We’ll proceed to leverage our core competence as a technology-driven retail firm with nationwide enterprise operations, and supply higher services for our customers and retailers. In the meantime, to shoulder our social duties, we’ll proceed to assist small and medium-sized retailers to deal with troublesome occasions, create extra job alternatives, and assist enhance welfare and advantages for our couriers. We’ll work relentlessly to advertise “rural revitalization”, create extra worth for customers and retailers, and contribute to the high-quality growth of the nationwide financial system.

For the complete announcement of Meituan for the third quarter of 2022, please go to:
http://media-meituan.todayir.com/20221125164002212810517888_en.pdf

About Meituan

Meituan (HKG: 3690) (the “Firm”) is a number one technology-driven retail firm in China. With the mission of “We assist folks eat higher, reside higher,” the Firm makes use of know-how to attach customers and retailers. Service choices on its platform deal with folks’s day by day wants for meals and retail items and lengthen additional to broad way of life and journey providers. Meituan is the world’s main on-demand meals supply service supplier and China’s main e-commerce platform for in-store eating providers. Meituan helps customers uncover service provider info, make knowledgeable choices, full on-line and offline transactions and luxuriate in on-demand supply. The Firm at the moment owns a number of family manufacturers in China, together with Meituan, China’s main on-line market for providers, Dianping, China’s main on-line vacation spot for locating native providers, Meituan Waimai for on-demand supply providers, and Meituan Bikes for bike-sharing providers. Meituan has 687.1 million Annual Transacting Customers and 9.3 million Annual Energetic Retailers as of September 30, 2022. The Firm operates in over 2,800 cities and counties in China.

Ahead-Trying Statements

This press launch incorporates forward-looking statements referring to the enterprise outlook, forecast enterprise plans and development methods of the Firm. These forward-looking statements are based mostly on info at the moment obtainable to the Firm and are said herein on the premise of the outlook on the time of this press launch. They’re based mostly on sure expectations, assumptions and premises, a few of that are subjective or past our management. These forward-looking statements could show to be incorrect and might not be realized in future. Underlying the forward-looking statements is a lot of dangers and uncertainties. Additional info relating to these dangers and uncertainties is included in our different public disclosure paperwork on our company web site.

For media inquiries, please contact:
Meituan
[email protected]
[email protected]

Edmond Lococo
ICR Inc.
E mail: [email protected]
Tel: +86 138-1079-1408

Cision

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