MEITUAN UNSP/ADR - MPNGY STOCK NEWS

Meituan (HKG: 3690) Announces 22.1% Revenue Growth in Q3 2023

Meituan announces Q2 2023 financial results, revenues increased by 33.4% to RMB68.0 billion, achieving profit of RMB4.7 billion compared to a loss of RMB1.1 billion in Q2 2022. Adjusted EBITDA and adjusted net profit were both RMB7.7 billion, highest level in history. Core local commerce segment revenue increased by 39.2% to RMB51.2 billion. On-demand delivery transactions increased by 31.6% year over year. New initiatives segment revenues increased by 18.4% to RMB16.8 billion, operating loss decreased by 23.5% to RMB5.2 billion.

Meituan announces unaudited Q1 2023 results with revenue increase of 26.7% to RMB58.6 billion. Operating profit for Core local commerce segment up by 100.7% to RMB9.4 billion. New initiatives segment operating loss narrows to RMB5.0 billion. Profit for the period is RMB3.4 billion. Adjusted EBITDA and adjusted net profit reach highest level in history. Cash and cash equivalents of RMB26.9 billion and short-term treasury investments of RMB84.5 billion as of March 31, 2023.

Meituan (HKG: 3690) reported a 22.8% revenue increase for 2022, reaching RMB220.0 billion. The Core local commerce segment achieved an operating profit of RMB29.5 billion, up 56.8%, while the New initiatives segment saw revenues grow by 39.3% to RMB59.2 billion, with an operating loss narrowing to RMB28.4 billion. Adjusted EBITDA turned from a loss to a profit of RMB9.7 billion, and operating cash inflow reached RMB11.4 billion. The Company aims to enhance digital transformation and local consumption in 2023, while maintaining strong financial health with cash and cash equivalents of RMB20.2 billion.

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.