Meituan found the turning point through food and beverage take-out and wine tours.

according to the information in the financial report, the two pillar businesses that have contributed the most to the revenue of Meituan are food and beverage take-out and wine tour at the store. The income from food and beverage take-out was 12.845 billion yuan, accounting for 58.1%, and the income from shops, hotels and tourism business was 5.245 billion yuan, accounting for 24.4%.

This is also the first time that Meituan's take-away business has made a profit. The gross profit of take-away business increased from 1.4 billion yuan in the same period of 2118 to 2.9 billion yuan, and the gross profit rate increased to 22.3%, from 1.5 billion in the same period of 2118 to 2 billion, and the customer unit price increased by 1.4% year-on-year.

Chen Shaohui, CFO of Meituan, specifically pointed out the importance of the sinking market to Meituan: "In the second quarter, the growth rate of take-away transactions in the sinking market was higher than that in first-and second-tier cities, and the sinking market contributed most orders.

in the financial report, the outstanding performance of the take-away business is attributed to the advantageous season of the take-away industry: the second quarter has sufficient transportation capacity and the most favorable weather conditions in the country, which helps to minimize the amount of seasonal rewards paid to take-away riders, so it is the most profitable quarter.

In addition, economies of scale are gradually emerging: the average daily order volume in the second quarter exceeded 22.9 million, and on July 29th, Wang Xing announced in Weibo that the order volume of Meituan's take-out service exceeded 31 million on the same day after nine years' growth.

The number of transactions promotes the order density and dilutes the average distribution cost. Big data collection is also conducive to optimizing the route algorithm and improving the distribution efficiency.

Although the take-away business has a large plate, its gross profit margin is far less than that of the in-store business. Mature in-store businesses such as group buying and in-store payment have brought strong cash flow to Meituan.

In this quarter, the gross profit margin of Meituan's arrival business decreased slightly by two percentage points, but it was still as high as 88.8%. The decline was mainly due to the depreciation of property, plant and equipment, the increase of bandwidth and server hosting fees, and the increase of network traffic cost to support the growth of online marketing revenue.

Different from Ctrip, which focuses on business travel, Meituan has a high user viscosity and market share in the localized O2O life service industry, which brings great imagination for Meituan's online marketing business expansion and advertising bargaining power with merchants.