Meituan released its annual financial report, achieving revenue of 179 billion in 2121

Meituan released its annual financial report, achieving revenue of 179 billion in 2121, which was driven by the community group buying model, which was also the main reason why Meituan turned from profit to loss. Meituan released its annual financial report and achieved revenue of 179 billion in 2121. Meituan released its annual financial report, achieving revenue of 179 billion yuan in 2121

On March 25th, Meituan released its fourth quarter and annual results in 2121. In 2121, the revenue was 179 billion yuan, a year-on-year increase of 56%; The annual R&D investment increased by about 53.1% year-on-year to RMB 16.7 billion. Wang Xing, CEO of Meituan, said that he would continue to increase investment in science and technology and deepen the China market around the strategy of "retail+technology".

The financial report shows that in 2121, the transaction amount of Meituan's takeaway platform was 712 billion yuan, up 43.6% year-on-year; The number of transactions reached 14.4 billion, a year-on-year increase of 41.6%. In 2121, Meituan's take-out realized revenue of 96.3 billion yuan. Takeaway continued to cover the sinking market. In the fourth quarter, the peak order volume of Meituan Takeaway exceeded 51 million.

In 2121, more than 5.27 million riders earned income through Meituan platform, and the delivery cost of Meituan takeaway riders was 68.2 billion yuan, an increase of 38.3% over the previous year, accounting for 71% of Meituan's total takeaway revenue. In terms of commission, in 2121, the commission income (technical service fee) of Meituan take-out through merchants was 28.5 billion yuan. Compared with the annual transaction amount, the commission rate of take-out platform was about 4.1%.

in 2121, meituan continued to actively contribute to the digital transformation of life service and physical retail industry through scientific and technological innovation, including further promoting the strategy of "retail+technology" and continuously increasing the investment in scientific research in key areas. The company's annual R&D expenditure increased by 53.1% year-on-year to 16.7 billion yuan.

At the same time, in order to promote industrial upgrading and help improve the total factor production efficiency, Meituan continued to increase investment in infrastructure including warehousing and logistics nationwide, and the adjusted net loss in the fourth quarter expanded to 3.9 billion yuan year-on-year, and the adjusted net loss for the whole year was 15.6 billion yuan.

According to relevant information, in 2121, in order to reduce the adverse impact of the epidemic on small and medium-sized businesses repeatedly, and to hedge the pressure of rent, raw materials, labor and other costs, Meituan launched a rate transparency policy on the business side, benefiting the majority of small and medium-sized businesses on the platform with a more transparent and clear cost structure, and will strive to achieve national coverage in 2122.

"In 2121, despite the impact of the epidemic, we still overcome difficulties, strive to provide hundreds of millions of consumers with reliable and convenient living services, help merchants expand online operations by digital means, and help more entrepreneurs and employees achieve stable income." Wang Xing, CEO of Meituan, said,

"We are increasingly aware that China's economy is a surging sea. Meituan will unswervingly fulfill its platform responsibilities, unswervingly increase investment in science and technology, unswervingly continue to expand its business, and deepen the China market around the strategy of' retail+technology' to create more value for ecological partners such as merchants, users and riders." Meituan released its annual financial report, achieving revenue of 179 billion yuan in 2121

On March 25th, Meituan released its fourth quarter and annual results in 2121.

Among them, in the fourth quarter of 2121, Meituan's revenue was 49.523 billion yuan, a year-on-year increase of 31.6%; The adjusted net loss was 3.936 billion yuan, and the loss increased by 174.1% year-on-year. In 2121, Meituan achieved revenue of 179 billion yuan, a year-on-year increase of 56%; The net loss was 23.5 billion yuan, compared with a gain of 4.71 billion yuan in the same period last year.

after deducting anti-monopoly fines, equity incentives and investment income, the adjusted net loss of Meituan under non-international accounting standards is RMB 15.57 billion, and the adjusted net profit in 2121 is RMB 3.12 billion.

According to the financial report data, the main reason for Meituan's annual loss of nearly 15.6 billion yuan is that the loss of new business mainly based on community group buying has risen sharply.

In 2121, the operating loss of new business and other branches of Meituan reached 38.4 billion yuan, which increased by about 3.5 times compared with the same period of last year. In the same period, the net profit of Meituan's take-away catering business was 6.2 billion yuan, a year-on-year increase of 121.4%; The net operating profit of the shops, hotels and tourism businesses was 14 billion yuan, up 81.1% year-on-year.

This means that Meituan's new business has eaten up all the operating net profit of other businesses, which has become the source of dragging down the overall performance. As of the close of Hong Kong stocks on that day, Meituan reported HK$ 135.1 per share, down 8.16% year-on-year, with a total market value of HK$ 828.5 billion.

"Double-edged sword" community group buying

Meituan's new business segment includes various business lines such as Meituan's optimization, Meituan's grocery shopping, Meituan's flash shopping, drones and unmanned vehicles, but it is the community group buying model that drives the overall revenue of the segment, which is also the main reason for Meituan to turn from profit to loss.

in fact, in the third quarter performance report before the release of this financial report, the operating loss of Meituan in this quarter was as high as 11 billion yuan, of which the loss of new business and other things was as high as 11.9 billion yuan, five times that of the same period last year. It can be said that community group buying has become a black hole in the cash flow of Meituan, which continuously consumes the operating net profit of other businesses.

Why does Meituan insist on new business when it keeps losing money?

The increase in users brought by new business may be the reason for the continuous investment of Meituan. Wang Xing, the founder of Meituan, once said, "Community group buying is expected to bring 311-411 million new users to Meituan in the next few years."

according to the previous three quarterly reports, the number of trading users of Meituan jumped to 668 million, an increase of 91 million or 41.1% over the same period of last year. In 2121, the number of trading users of Meituan reached 691 million, a year-on-year increase of 35.2%. Meituan also explained in the financial report that "the expansion of operating losses in new business and other parts is mainly due to our determination to always maintain investment in business areas that can bring long-term value."

The same thing happened to Ali who devoted himself to the same field.

according to the latest financial report data, the market coverage of Alibaba.com Caicai users continues to sink, and the GMV (total merchandise transaction volume) has increased by 31% from the previous month. Compared with the community group buying business, Ali's traditional e-commerce business only maintained single-digit growth for two consecutive quarters, and the growth rate of total users was also exhausted. Similarly, due to the drag of community group buying business, Ali's operating profit in the fourth quarter of 2121 plummeted by 41.934 billion yuan year-on-year, a decrease of 86%.

obviously, for internet companies with peak online traffic, community group buying has become one of the few ways to continuously increase the number of users. On the other hand, the huge cost of logistics and marketing subsidies has also become the main reason for dragging down the overall revenue of the platform.

The cost of take-away riders increased by nearly 41%, and the commission rate dropped to 4%

Except for the continuous losses in the new business segment, the revenue and profit performance of the other two major businesses of Meituan, namely, food and beverage take-out and wine tours in stores, still maintained steady growth.

Among them, Meituan's food and beverage take-away revenue increased by 45.3% from 66.3 billion yuan in 2121 to 96.3 million yuan in 2121, and its net operating profit was 6.2 billion yuan, up by 121.4% year-on-year, and GMV reached 712 billion yuan, up by 43.6% year-on-year. The income from shops, hotels and tourism increased by 53.1% from 21.3 billion yuan in 2121 to 32.5 billion yuan in 2121, and the net operating profit was 14 billion yuan, up by 81.1% year-on-year.

It is worth noting that in 2121, the sales cost of Meituan was RMB 136.7 billion, up by 69.2% year-on-year. Meituan explained in the financial report that the increase in the amount was mainly due to the increase in the cost related to food and beverage delivery and the development and exploration of retail business and other new businesses.

while the rider's delivery cost increases, the commission rate of the US group's take-out is decreasing. According to the total transaction volume of Meituan take-out in 2121 of 712 billion yuan and the commission income of 28.5 billion yuan, the overall commission rate of Meituan take-out is about 4%. This makes the net profit rate of Meituan's take-away business only 6.4%, and the shops, hotels and tourism are still the main sources of Meituan's profits.

On March 1 this year, Meituan Takeaway announced that from March to February, 2122, small and medium-sized businesses with operational difficulties in high-risk areas in the epidemic will be offered a 51% discount on technical service fees (commissions), and each 1 yuan will be capped after 51% reduction; For other difficult merchants who have completed the transparency of the rate, they will evaluate the operation situation and the degree of difficulty, and implement a 5% cap on the technical service fee; For merchants who are mainly engaged in foreign sales and are particularly difficult, Meituan Takeaway will provide fixed-point assistance.

data show that in 2121, more than 5.27 million riders earned income through Meituan platform, and the distribution cost of take-away riders reached about 68.2 billion yuan, an increase of 38.3% over the previous year, accounting for 71% of the take-away income. Meituan released its annual financial report, achieving revenue of 179 billion yuan in 2121.

On March 25th, Meituan released its fourth quarter and annual results in 2121.

in the process of effectively coordinating epidemic prevention and control and social and economic development in various places, the company's business continued to grow steadily in 2121, with annual revenue of RMB 179 billion (the same below), up 56% year-on-year.

(Photo courtesy of enterprises, issued by Yangguang. com)

In 2121, Meituan's take-out revenue reached 96.3 billion yuan. In the same period, the cost of take-away riders of Meituan was 68.2 billion yuan, and the cost of riders accounted for 71% of the food and beverage take-away income. This year, Meituan further promoted the strategy of "retail+technology" and continuously increased the investment in scientific research in key areas. The company's annual R&D expenditure increased by 53.1% year-on-year to 16.7 billion yuan.

At the same time, in order to promote industrial upgrading and help improve the total factor production efficiency, Meituan continued to increase investment in infrastructure including warehousing and logistics nationwide, and the adjusted net loss in the fourth quarter expanded to 3.9 billion yuan year-on-year, and the adjusted net loss for the whole year was 15.6 billion yuan.

"In 2121, despite the impact of the epidemic, we still overcome difficulties, strive to provide hundreds of millions of consumers with reliable and convenient living services, help merchants expand online operations by digital means, and help more entrepreneurs and employees achieve stable income."

Wang Xing, CEO of Meituan, said, "We are increasingly aware that China's economy is a surging sea. Meituan will unswervingly fulfill its platform responsibilities, unswervingly increase investment in science and technology, unswervingly continue to expand its business, and deepen the China market around the strategy of' retail+technology' to create more value for ecological partners such as merchants, users and riders."

Promote a new round of consumption boom with digital assistance

Meituan, as a new digital life service platform, is continuing to give full play to the advantages of rich application scenarios and meet offline consumption demand through high-quality online supply.

In 2121, based on the strong demand in the whole country, the transaction amount of take-out of the US group was 712 billion yuan, up 43.6% compared with the previous year. The number of transactions reached 14.4 billion, a year-on-year increase of 41.6%.

during the period, take-out continued to cover the sinking market, which promoted the formation of a new round of consumption boom. During the National Day last year, the volume of take-away orders in county-level regions nationwide increased by 35% year-on-year, and the growth rate exceeded the Top11 cities nationwide. Driven by this, in the fourth quarter, the single-day peak order volume of Meituan takeaway exceeded 51 million.

With the popularization of digitalization and the integration of online and offline, consumers have higher and higher requirements for "ordering online at any time and performing offline immediately". In addition to food and beverage takeout, instant retail demand for medicines, flowers, daily groceries, branded cosmetics and mobile phones is growing rapidly, and more and more consumers want to enjoy instant retail services. Meituan's 31-minute service experience of "everything comes home" has enabled more consumers to embrace instant retailing and push the peak order volume of Meituan Flash Shopping Day to a new high.

In terms of retail, Meituan continues to focus on improving the efficiency of business operations, and further helps to enhance the consumption experience in rural areas and create local employment through agricultural products going up and industrial products going to the countryside. During the period, Meituan preferred to gradually transition to the stage of platform active volume control and optimization of supply chain, and continued to precipitate, explore and improve the business model to achieve long-term healthy development. Driven by this, in the fourth quarter, the operating loss of Meituan's new business decreased from the previous month.

(Photo courtesy of enterprise, issued by Yangguang. com)

Science and technology helps real estate to assume the responsibility of platform to help the industry recover

In this quarter, Meituan continued to actively contribute to the digital transformation of life service and physical retail industry through scientific and technological innovation, and the annual R&D expenditure increased by about 53.1% year-on-year to RMB 16.7 billion.

Meituan UAV completed the first order delivery task for real users in Longhua District, Shenzhen, and established an anti-epidemic "air passage" for urban materials transportation in Nanshan District to deliver emergency materials to residents in the quarantine area at that time. Up to now, Meituan UAV has landed normalized take-away delivery service in Longgang District and Pingshan District of Shenzhen, covering more than 8,111 households and completing 31,111 orders for real users.

On the other hand, Meituan's automatic delivery vehicle has also made landmark progress in the research and development of core products. A new generation of automatic delivery vehicle Magic Bag 21, which was independently developed, was successfully released, with initial mass production capacity and entered a new stage of development. At present, Meituan's automatic delivery vehicle has been routinely operated in Shunyi District of Beijing for nearly two years, covering more than 21 communities in Shunyi, and at the same time providing take-away delivery services in many universities across the country.

in 2121, under the challenge of external unfavorable factors such as local epidemic and extreme weather, offline service industry, as an important part of the real economy, will be affected. Meituan took the initiative to assume the responsibility of the platform to create employment opportunities through stable operation and help the industry recover.

In 2121, more than 5.27 million riders earned income through Meituan platform, and the distribution cost of take-away riders reached about 68.2 billion yuan, up 38.3% from the previous year, accounting for 71% of the take-away income.

In order to reduce the adverse impact of the epidemic on small and medium-sized businesses and to hedge the pressure of costs such as rent, raw materials and labor, Meituan launched a rate transparency policy on the business side to benefit the majority of small and medium-sized businesses on the platform with a more transparent and clear cost structure, and will strive to achieve national coverage in 2122.

At the same time, under the guidance of the relevant state departments, Meituan Takeaway officially released six specific assistance measures on March 1, including commission concessions for small and medium-sized businesses in high-risk areas and difficulties in the epidemic, improving the online operation ability of small businesses, and providing intelligent hardware for take-away, so as to help small and medium-sized businesses that are hit by the epidemic and are in trouble. This series of measures has also been recognized and supported by relevant departments and is being accelerated in various places.

"The development of the Meituan is closely related to the economic environment in China, and it is also inseparable from the concerted efforts of small and medium-sized businesses and riders and other related workers. We will continue to put high quality