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Meituan (HKG: 3690) reported a 22.8% revenue increase for 2022, reaching
Meituan (HKG: 3690) reported a 28.2% revenue rise to RMB62.6 billion in Q3 2022 versus RMB48.8 billion in Q3 2021. The Core local commerce segment's operating profit surged to RMB9.3 billion, up 124.6% YoY, while the New initiatives segment saw a revenue increase of 39.7% YoY to RMB16.3 billion. Adjusted EBITDA and net profit turned positive at RMB4.8 billion and RMB3.5 billion respectively. Cash reserves stood at RMB23.3 billion and short-term investments at RMB88.3 billion as of September 30, 2022.
Meituan (HKG: 3690) reported a 16.4% increase in revenues to RMB50.9 billion for Q2 2022, compared to RMB43.8 billion in Q2 2021. The Core local commerce segment saw an operating profit rise of 39.7% to RMB8.3 billion. Adjusted EBITDA and net profit turned positive at RMB3.8 billion and RMB2.1 billion respectively. Challenges included the pandemic's impact on the New initiatives segment, which reported a narrowed operating loss of RMB6.8 billion. The company maintains confidence in future growth amidst ongoing recovery in consumer demand.
Meituan (HKG: 3690) reported a 25% revenue increase to RMB46.3 billion for Q1 2022, compared to RMB37.0 billion in Q1 2021. Despite growth in food delivery and hotel segments, operating losses in new initiatives widened, affecting overall performance. Operating profit for food delivery rose to RMB1.6 billion, while in-store and travel revenue increased by RMB7.6 billion. Cash equivalents stood at RMB35.4 billion. CEO Xing Wang emphasized resilience amidst COVID challenges, while CFO Shaohui Chen projected short-term headwinds, reaffirming commitment to a 'Retail + Technology' strategy.
Meituan (HKG: 3690) reported a 56% revenue increase to RMB179.1 billion for the year ended December 31, 2021, despite a growing operating loss in new initiatives. Operating profit rose to RMB20.3 billion, driven by food delivery and in-store, hotel & travel segments, which saw revenues of RMB96.3 billion and RMB32.5 billion, respectively. However, adjusted net loss hit RMB15.6 billion with cash outflow of RMB4.0 billion. The company aims for high-quality growth in 2022 under its new 'Retail + Technology' strategy, focusing on digital transformation for small merchants.
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