Revenue 35.4 billion yuan to store wine and tourism business recovery, new business losses increased From Q3 financial report of meituan in 2020

RecordTrend.com is a website that focuses on future technologies, markets and user trends. We are responsible for collecting the latest research data, authority data, industry research and analysis reports. We are committed to becoming a data and report sharing platform for professionals and decision makers. We look forward to working with you to record the development trends of today’s economy, technology, industrial chain and business model.Welcome to follow, comment and bookmark us, and hope to share the future with you, and look forward to your success with our help.

The following is the Revenue 35.4 billion yuan to store wine and tourism business recovery, new business losses increased From Q3 financial report of meituan in 2020 recommended by recordtrend.com. And this article belongs to the classification: Industry information.

On November 30, meituan released its performance in the third quarter of 2020. According to the financial report, meituan’s revenue in the third quarter increased by 28.8% year-on-year to 35.4 billion yuan. Among them, the net profit was 6.7 billion yuan (including 5.8 billion yuan from changes in fair value of investment listed entities), with a year-on-year increase of 364.6%. The adjusted net profit was 2.1 billion, up 5.8% year on year.

Meituan’s share price has been rising since May. As of November 30, meituan’s share price was HK $290 per share, with a total market value of HK $1.71 trillion. In August this year, meituan became the fourth largest market value company in Hong Kong stocks, after Ali, Tencent and ICBC.

Hotel business recovery

According to the third quarter financial report, meituan’s liquor travel business has resumed.

According to the financial report, meituan’s revenue from stores, hotels and tourism increased by 4.8% to RMB 6.5 billion in the third quarter. The operating profit of the store, hotel and tourism business increased from RMB 2.3 billion in the third quarter of 2019 to RMB 2.8 billion in the third quarter of 2020, which is still the most profitable business among the three major businesses of meituan.

This data means that meituan’s in store liquor travel business is gradually getting rid of the impact of the epidemic. The first and second quarter of this year’s financial reports showed that meituan’s liquor and tourism business declined seriously due to the impact of the epidemic. According to the financial report, the net profit of meituan in the second quarter decreased by 11.9% to 1.9 billion yuan.

In terms of hotel reservation business, the recovery of cross city tourism and business tourism is good compared with the past few quarters, thanks to China’s effective control measures against the epidemic situation and strong summer tourism demand, meituan said in its third quarter financial report. The number of domestic hotel nights consumed on the platform increased by 3.7% year-on-year in the third quarter. It is worth noting that the tourist destination favored by consumers has changed from overseas to domestic, which enables meituan to make full use of its domestic competitive advantages.

According to first finance and economics, meituan launched the pilot project of group purchase of Gaoxing Hotel on July 16. The main mode of the project is that the platform, together with Gaoxing hotel group and the hotels listed in the “must stay list” of Dazhong reviews, will launch pre-sale hotel products that meet the characteristics of low price and deep discount, cash as you buy, and refund at any time when not used.

Meituan said in the financial report that the “Hotel + X” project in the third quarter also continued to expand, covering more hotel groups in the reporting period. As a result, the contribution of high-end hotels increased year-on-year.

In addition to the gradual recovery of wine and tourism business in the store, meituan’s catering takeout also increased in the third quarter. In the third quarter, meituan’s catering delivery business revenue was 20.7 billion yuan, up 32.8% year on year.

In the third quarter, the transaction amount of meituan catering delivery business increased by 36.0% to RMB 152.2 billion. The average daily transaction volume of catering delivery increased by 30.1% to 34.9 million. The average value of each catering delivery order increased by 4.5% year on year. However, the cash flow rate of catering takeout business decreased from 13.9% in the same period in 2019 to 13.6% in the third quarter of 2020.

Meanwhile, in the third quarter, the number of active merchants of meituan increased to 6.5 million, and the number of annual transaction users reached 480 million, a new high. By the end of September, more than 4 million riders have achieved employment and income through meituan platform this year.

New and old business challenges

Retail sales increased by $5.2 billion in the third quarter, representing the fastest growth in the third quarter.

Although the fastest growing, new business losses are also increasing. According to the financial report, the operating loss of new business and other divisions increased by 39% from RMB 1.5 billion in the second quarter of 2020 to RMB 2 billion in the third quarter of 2020.

In the third quarter, meituan made several attempts in new business.

According to the financial report, meituan’s “meituan buying vegetables” continued to expand in Beijing, Shanghai, Guangzhou and Shenzhen in the third quarter, with both trading users and trading volume growing rapidly in the quarter.

On July 7, meituan issued a notice on organizational adjustment, saying that it would set up an optimized business unit to enter the community group buying track, and Chen Liang, senior vice president of meituan and member of S-Team, would be responsible for it. In addition to meituan, Didi launched the trial operation of the community group purchase project orange heart, which was built by didi in May. In August, pinduoduo set up “buy more vegetables”. In September, Ali announced the establishment of a separate HEMA optimization business department, which further upgraded the competition in the field of community group buying.

In August, first finance found that meituan app launched a low-key online “group good goods”, mainly selling department stores and fresh fruits at low prices, which was a key step for meituan to formally step into the field of e-commerce. In addition, meituan also launched group buying products with “good rice” online in some areas, aiming to sink users. In addition to the challenge of new business, the “one out of two” issue involved in takeout business has also been mentioned again recently.

In addition, Tianyan data shows that on August 12, Beijing Sankuai Technology Co., Ltd., the main operator of meituan, added the trademark of “meituan anchor”. In September 17th, the US group launched the “super live special group” campaign, and the live broadcast products were covered by tourism, taxi and catering tiktok.

In addition to the new business, the “one out of two” issue involved in takeout business has been mentioned again in the near future, which is a challenge meituan will face.

In November 6th, the three departments of the General Administration of market supervision, the central network office and the General Administration of Taxation jointly held the executive Guidance Committee on regulating the online economic order. They invited representatives from the 27 major Internet platform enterprises including Jingdong, the US group, Alibaba, byte beating, drop, Kwai, and many spreaders to participate in the meeting. The meeting made it clear that Internet platform enterprises should not abuse their dominant position to force businesses to “choose one from two” and impose unreasonable restrictions or additional unreasonable conditions on the operators’ choice of platforms; they should not use technical means to hinder or destroy the normal operation of network products or services legally provided by other operators.

In the field of takeout, the competition between meituan and hungry moo is accompanied by the controversy of “choose one from two”. Meituan Wang Xing: it is estimated that the transaction volume of meituan.com will reach RMB 40 billion in 2014. Meituan financial report: revenue of Q3 meituan in 2019 is 27.5 billion yuan, with a year-on-year growth of 44.1%. In 2014, meituan’s transaction volume exceeded 46 billion yuan, with a year-on-year growth of 180%. Meituan comments: senior executives’ interpretation of 3q19 financial report Continue to improve the local service ecosystem CCFA: in 2019, China’s top 100 supermarket Lepu medical new coronavirus antibody colloidal gold detection kit, infrared thermometer and other products have been supplied to dozens of countries demand Gen: manufacturers expand the digital conversion to sales and marketing reports, and the third quarter revenue of Jianan technology is 163 million yuan 75.7% lower than the same period of last year. The network security and Intelligent Manufacturing Conference of Changsha in 2020 was held in Changsha, with a sharp rise of 286.48%! What is Ali’s confidence to turn a deficit into a profit? Suning e-buy’s Q3 revenue and profit in 2020 both decline. According to the official response of Suning or selling e-commerce shares, the Hong Kong Stock Exchange proposes to increase the minimum profit requirement of enterprises to be IPO by 150% to 200% from HK $20 million. Q3 financial report 2020: revenue of RMB 88.849 million, down 36.3% year on year! FCS 2020 the second China Financial CIO annual meeting has come to a successful conclusion! The only online education brand in Wuzhen Expo

If you want to get the full report, you can contact us by leaving us the comment. If you think the information here might be helpful to others, please actively share it. If you want others to see your attitude towards this report, please actively comment and discuss it. Please stay tuned to us, we will keep updating as much as possible to record future development trends.