Meituan Announces Financial Results for the Year Ended December 31, 2022.

HONG KONG: Meituan (HKG: 3690) (the "Company"), a leading technology-driven retail company in China, today announced the audited consolidated results of the Company for the year ended December 31, 2022.

Company Financial Highlights

During the full year of 2022, our revenues increased by 22.8% to RMB220.0 billion from RMB179.1 billion in 2021. Our Core local commerce segment achieved an operating profit of RMB29.5 billion in 2022, up by 56.8% from RMB18.8 billion in 2021. Meanwhile, the operating loss for our New initiatives segment narrowed to RMB28.4 billion in 2022 from RMB35.9 billion in 2021. Our adjusted EBITDA and adjusted net profit were RMB9.7 billion and RMB2.8 billion in 2022 respectively, turning from loss into profit on a year-over-year basis. We have also achieved operating cash inflow of RMB11.4 billion for the full year of 2022. We held cash and cash equivalents of RMB20.2 billion and short-term treasury investments of RMB91.9 billion as of December 31, 2022.

"In 2022, we continued to provide consumers with a rich product and service mix as a one-stop platform of services, helped millions of merchants enhance operating efficiency and generate income through digital transformation, and thus helped boost local consumption and created opportunities for employment," said Meituan Founder and CEO Xing Wang. "We will continue to promote the digital transformation of the local services and retail industry through technology innovation, while advocating mutual benefits and long-term development of merchants, couriers and other ecosystem partners, creating more value for society, and innovating technologically to support the real economy and the high-quality growth of China's economy," added Mr. Wang.

Meituan CFO Shaohui Chen said, "Thanks to the strong resilience of China's economy, the industry know-how we have built up over the years, combined with our strong capabilities to flexibly adjust and execute our business strategies, Meituan has efficiently responded to impacts from the macro environment and continued growth momentum. We will continue to improve the strengths of our core segments and insist on high-quality growth and an ROI-driven strategy for development of our new initiatives. At the same time, we will continue to help integrate the digital economy with the real economy through technology innovation, to fulfill our mission that 'We help people eat better, live better.'"

Company Business Highlights

Core Local Commerce

In 2022, we achieved 17.6% revenue growth for the Core local commerce segment, despite negative impacts from the macro environment. Operating profit increased by 56.8% on a year-over-year basis to RMB29.5 billion, and operating margin improved to 18.4%, up from 13.8% in 2021.

For the fourth quarter of 2022, segment revenue increased by 17.4% on a year-over-year basis to RMB43.5 billion, and operating profit increased by 41.0% on a year-over-year basis to RMB7.2 billion, with operating margin improved to 16.6%, up from 13.8% in the same period of 2021.

Our food delivery business posted steady, high-quality growth in...

To continue reading

Request your trial

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT