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2021-03-26
Buy $gme
Meituan's Annual revenue jumps 17.7%, above forecast<blockquote>美团-W年收入增长17.7%，高于预期</blockquote>
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{"i18n":{"language":"zh_CN"},"detailType":1,"isChannel":false,"data":{"magic":2,"id":356982499,"tweetId":"356982499","gmtCreate":1616748800511,"gmtModify":1634524212689,"author":{"id":3576253152620911,"idStr":"3576253152620911","authorId":3576253152620911,"authorIdStr":"3576253152620911","name":"dbwlsxks","avatar":"https://static.tigerbbs.com/33287d167e98f918c16491672834f5f7","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":11,"crmLevelSwitch":0,"individualDisplayBadges":[],"fanSize":9,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"extraTitle":"","html":"<html><head></head><body><p>Buy $gme</p></body></html>","htmlText":"<html><head></head><body><p>Buy $gme</p></body></html>","text":"Buy $gme","highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"favoriteSize":0,"link":"https://laohu8.com/post/356982499","repostId":1183857473,"repostType":4,"repost":{"id":"1183857473","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1616748407,"share":"https://www.laohu8.com/m/news/1183857473?lang=zh_CN&edition=full","pubTime":"2021-03-26 16:46","market":"hk","language":"en","title":"Meituan's Annual revenue jumps 17.7%, above forecast<blockquote>美团-W年收入增长17.7%，高于预期</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1183857473","media":"Tiger Newspress","summary":"Chinese food delivery giant Meituan on Friday reported fourth-quarter revenue that beat market forec","content":"<p>Chinese food delivery giant Meituan on Friday reported fourth-quarter revenue that beat market forecasts, driven by a surge in on-demand services.</p><p><blockquote>在按需服务激增的推动下，中国食品配送巨头美团-W周五公布的第四季度收入超出了市场预期。</blockquote></p><p>Meituan: in 2020, the annual revenue is 114.79 billion yuan, the market expectation is 114.255 billion yuan, the same period last year is 97.529 billion yuan; the annual net profit is 4.71 billion yuan, the market expectation is 5.61 billion yuan, the same period last year is 2.239 billion yuan.</p><p><blockquote>美团-W：2020年全年营收1147.9亿元，市场预期1142.55亿元，去年同期975.29亿元；全年净利润47.1亿元，市场预期56.1亿元，去年同期22.39亿元。</blockquote></p><p>Revenue climbed to a record 37.92 billion yuan ($5.8 billion) in the fourth quarter, compared with the 36.8 billion yuan average forecast of analysts. The company swung to a net loss of 2.2 billion yuan, due to spending on new initiatives like community group buying.</p><p><blockquote>第四季度营收攀升至创纪录的379.2亿元人民币（合58亿美元），而分析师平均预期为368亿元人民币。由于社区团购等新举措的支出，该公司净亏损22亿元。</blockquote></p><p>Meituan warned it may continue to post operating losses for several quarters after reporting its fastest pace of sales growth in a year, underscoring the cost of expanding into newer arenas like online groceries.</p><p><blockquote>美团-W警告称，在报告了一年来最快的销售增长速度后，该公司可能会继续出现几个季度的运营亏损，突显了向在线杂货等新领域扩张的成本。</blockquote></p><p><img src=\"https://static.tigerbbs.com/f84902d3198f50d7cf5360aa49c22b48\" tg-width=\"1159\" tg-height=\"806\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/530cec505e6c5c1ad196b555fb900ba1\" tg-width=\"776\" tg-height=\"853\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/590111891ed9b07a37d9680b832ad5f7\" tg-width=\"922\" tg-height=\"731\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><img src=\"https://static.tigerbbs.com/a2b877f138a283ed48215164b8d53c2c\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>Company Financial Highlights </b></p><p><blockquote><b>公司财务摘要</b></blockquote></p><p>As China’s economic recovery accelerated as a result of the effective containment of the COVID-19 pandemic, our businesses recovered steadily during 2020. Total revenues increased by 17.7% year over year to RMB114.8 billion from RMB97.5 billion in 2019. Although the operating loss for new initiatives and others segment expanded as we further accelerated our business expansion efforts to satisfy consumers’ growing needs, our food delivery and in-store, hotel & travel segments achieved an aggregate operating profit by segment of RMB11.0 billion in 2020, an increase from RMB9.8 billion in 2019. Both adjusted EBITDA and adjusted net profit experienced negative year-over-year growth and decreased to RMB4.7 billion and RMB3.1 billion in 2020, respectively. Our operating cash flow increased to RMB8.5 billion in 2020 from RMB5.6 billion in 2019. We had cash and cash equivalents of RMB17.1 billion and short-term treasury investments of RMB44.0 billion as of December 31, 2020, compared to the balances of RMB13.4 billion and RMB49.4 billion, respectively, as of December 31, 2019.</p><p><blockquote>随著COVID-19疫情得到有效控制，中国经济加速复甦，我们的业务于二零二零年稳步复甦。总收入由2019年的人民币975亿元同比增长17.7%至人民币1,148亿元。尽管由于我们进一步加快业务扩张以满足消费者日益增长的需求，新计划及其他分部的经营亏损有所扩大，但我们的外卖及店内、酒店及旅游分部于2020年按分部划分的经营溢利总额为人民币110亿元，较2019年的人民币98亿元有所增加。经调整EBITDA及经调整净利润均出现同比负增长，于2020年分别减少至人民币47亿元及人民币31亿元。我们的经营现金流由2019年的人民币56亿元增加至2020年的人民币85亿元。截至2020年12月31日，我们的现金及现金等价物为人民币171亿元，短期资金投资为人民币440亿元，而截至2019年12月31日的结馀分别为人民币134亿元及人民币494亿元。</blockquote></p><p><b>Company Business Highlights </b></p><p><blockquote><b>公司业务亮点</b></blockquote></p><p><b>Food delivery </b></p><p><blockquote><b>送餐</b></blockquote></p><p>Food delivery became an increasingly essential service throughout the COVID-19 pandemic in 2020. Meanwhile, our strength in consumer base, merchant base and delivery network remained strong and continued to generate powerful network effects during 2020, enabling us to achieve solid growth. In 2020, GTV of our food delivery business increased by 24.5% year over year to RMB488.9 billion. The growth rate for the number of food delivery transactions continued to surge year over year, with the daily average number of food delivery transactions increasing by 16.0% year over year to 27.7 million. The average value per order of our food delivery business increased by 7.0% year over year to RMB48.2. Monetization Rate of our food delivery business decreased to 13.6% from 14.0% in 2019. As a result, revenue increased by 20.8% year over year to RMB66.3 billion. Operating profit from food delivery business increased to RMB2.8 billion in 2020 from RMB1.4 billion in 2019, while operating margin increased to 4.3% from 2.6%. Our solid business performance in 2020 was a testament to our resilient business model and strong execution capabilities.</p><p><blockquote>2020年，送餐成为整个新冠肺炎疫情越来越重要的服务。与此同时，我们在消费者基础、商户基础和配送网络方面的实力仍然强劲，并在2020年继续产生强大的网络效应，使我们能够实现稳健增长。于二零二零年，我们外卖业务的总营业额同比增长24.5%至人民币4,889亿元。外卖交易笔数同比增速持续飙升，日均外卖交易笔数同比增长16.0%至2770万笔。外卖业务的平均每份订单价值同比增长7.0%至人民币48.2元。外卖业务的货币化率由2019年的14.0%下降至13.6%。因此，收入同比增长20.8%至人民币663亿元。外卖业务的经营利润由2019年的人民币14亿元增加至2020年的人民币28亿元，而经营利润率由2.6%增加至4.3%。我们于2020年稳健的业务表现证明了我们富有弹性的业务模式和强大的执行能力。</blockquote></p><p>For the fourth quarter of 2020, GTV of our food delivery business increased by 39.4% year over year to RMB156.3 billion. The daily average number of food delivery transactions increased by 33.0% year over year to 36.2 million. The average value per order of our food delivery business increased by 4.8% year over year to RMB46.9. Monetization Rate of our food delivery business decreased to 13.8% from 14.0% in the same period of 2019. As a result, revenue increased by 37.0% year over year to RMB21.5 billion. Operating profit from our food delivery business increased to RMB882.4 million for the fourth quarter of 2020 from RMB482.8 million for the fourth quarter of 2019, while operating margin increased to 4.1% from 3.1%.</p><p><blockquote>于二零二零年第四季度，我们外卖业务的GTV同比增长39.4%至人民币1,563亿元。日均外卖交易笔数同比增长33.0%至3620万笔。外卖业务的平均每份订单价值同比增长4.8%至人民币46.9元。外卖业务的货币化率由2019年同期的14.0%下降至13.8%。因此，收入同比增长37.0%至人民币215亿元。外卖业务的经营利润由2019年第四季度的人民币482.8百万元增加至2020年第四季度的人民币882.4百万元，而经营利润率由3.1%增加至4.1%。</blockquote></p><p><b>In-store, hotel & travel </b></p><p><blockquote><b>店内、酒店和旅行</b></blockquote></p><p></p><p>Benefitting from the effective containment of the COVID-19 pandemic, local consumption in China experienced a steady recovery, and our in-store, hotel & travel businesses, which were the most impacted businesses in 2020, gradually ramp back up, but has yet to fully recover to normal levels. Revenues from our in-store, hotel & travel businesses decreased by 4.6% year over year to RMB21.3 billion in 2020. Operating profit from our in-store, hotel & travel businesses decreased to RMB8.2 billion in 2020 from RMB8.4 billion in 2019, while operating margin increased to 38.5% from 37.7%.</p><p><blockquote>受惠于COVID-19疫情的有效控制，中国本地消费稳步复甦，我们于二零二零年受影响最大的店内、酒店及旅游业务逐步回升，但尚未完全恢复至正常水平。2020年，我们的店内、酒店及旅游业务收入同比下降4.6%至人民币213亿元。店内、酒店及旅游业务的经营溢利由2019年的人民币84亿元减少至2020年的人民币82亿元，而经营利润率则由37.7%增加至38.5%。</blockquote></p><p>For the fourth quarter of 2020, revenues from our in-store, hotel & travel businesses increased by 12.2% year over year to RMB7.1 billion, despite the reoccurrence of the COVID-19 pandemic in several cities. Operating profit from our in-store, hotel & travel businesses increased to RMB2.8 billion from RMB2.3 billion for the fourth quarter of 2019, while operating margin increased to 39.5% from 36.7%.</p><p><blockquote>2020年第四季度，尽管COVID-19疫情在多个城市复发，但我们的店内、酒店及旅游业务收入同比增长12.2%至人民币71亿元。店内、酒店及旅游业务的营业利润由2019年第四季度的人民币23亿元增至人民币28亿元，营业利润率由36.7%增至39.5%。</blockquote></p><p><b>New initiatives and others</b></p><p><blockquote><b>新举措及其他</b></blockquote></p><p>During 2020, we continued to ramp up our investments in new initiatives, especially in areas that we believed to have promising long-term growth potential and fit well into our “Food + Platform” strategy. Revenues from the new initiatives and others segment increased by 33.6% year over year to RMB27.3 billion in 2020. Operating loss from new initiatives and others segment expanded to RMB10.9 billion 2020 from RMB6.7 billion in 2019, while operating margin decreased 6.7 percentage points year over year. For the fourth quarter of 2020, revenues from the new initiatives and others segment increased by 51.9% year over year to RMB9.2 billion. Operating loss for the segment increased both year over year and quarter over quarter to negative RMB6 billion in the fourth quarter of 2020, while the operating margin decreased to negative 64.9%.</p><p><blockquote>于二零二零年，我们继续加大对新项目的投资，尤其是在我们认为具有良好长期增长潜力并与我们的“食品+平台”战略相契合的领域。2020年，新计划及其他分部的收入同比增长33.6%至人民币273亿元。新业务及其他分部的经营亏损由2019年的人民币67亿元扩大至2020年的人民币109亿元，而经营利润率同比下降6.7个百分点。2020年第四季度，新计划及其他分部的收入同比增长51.9%至人民币92亿元。2020年第四季度，该部门的经营亏损同比和环比均增加至负人民币60亿元，而经营利润率则下降至负64.9%。</blockquote></p><p><b>Company Outlook for 2021</b></p><p><blockquote><b>2021年公司展望</b></blockquote></p><p>Overall, our food delivery and in-store, hotel & travel businesses continued to deliver solid results, demonstrated their unique values and have increasingly become a new infrastructure for peoples’ daily life in this challenging year of 2020. We reaffirm our belief that our food delivery and in-store, hotel & travel businesses have a significant runway for future growth and operation optimization over the long term. While our significant investments in new initiatives hampered our overall profitability in 2020, these new initiatives are also creating increasing value for consumers, merchants, our business partners, and the broader society. We remain committed to making investments in big opportunities that are capable of delivering long-term growth and providing consumers and all participants with more value. We believe community e-commerce is one of such big opportunities, and we will allocate sufficient resources to accelerate its development in 2021 while continuously improving its operating efficiency. Increasing investments in new initiatives may continue to cause significant negative impacts on our overall financial results, and the Company may continue to record operating losses in the next few quarters as we ramp up our community e-commerce business. However, we have always focused on long-term growth rather than short-term profits, adhering to a long-term oriented investment philosophy. More importantly, we remain optimistic about the prospects of China’s economic development. We believe that our determination to accelerate the digitization and online operation of the boarder industry over the long term will allow us to benefit from the digitization trend and industry growth. As such, we will continue to help merchants enhance operational efficiency across industries through innovations and better services, provide more convenience, as well as quality products and services at affordable cost for consumers, and create more value for the society with the help of technology, fulfilling our mission that “We help people eat better, live better.”</p><p><blockquote>整体而言，我们的外卖、店内、酒店及旅游业务继续取得稳健的业绩，彰显其独特价值，并在2020年这个充满挑战的一年日益成为人们日常生活的新基础设施。我们重申我们的信念，即从长远来看，我们的食品配送、店内、酒店和旅游业务具有未来增长和运营优化的重要跑道。虽然我们对新举措的重大投资阻碍了我们2020年的整体盈利能力，但这些新举措也为消费者、商家、我们的业务合作伙伴和更广泛的社会创造了越来越多的价值。我们仍然致力于投资于能够实现长期增长并为消费者和所有参与者提供更多价值的重大机遇。我们相信社区电商是其中一个重大机遇，我们将分配足够资源于2021年加速其发展，同时不断提高其运营效率。增加对新举措的投资可能会继续对我们的整体财务业绩造成重大负面影响，随着我们加大社区电子商务业务，公司可能会在未来几个季度继续录得运营亏损。但我们始终关注长期增长而非短期利润，坚持长期导向的投资理念。更重要的是，我们对中国经济发展前景保持乐观。我们相信，从长远来看，我们加快寄宿生行业数字化和线上化运营的决心将使我们受益于数字化趋势和行业增长。因此，我们将继续通过创新和更好的服务，帮助商家提高跨行业的运营效率，为消费者提供更多便利以及价格合理的优质产品和服务，并借助科技为社会创造更多价值，践行“我们帮助人们吃得更好，生活得更好”的使命。</blockquote></p><p><a href=\"https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0326/2021032600589.pdf\" target=\"_blank\"><b>Meituan financial report</b></a></p><p><blockquote><a href=\"https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0326/2021032600589.pdf\" target=\"_blank\"><b>美团-W财报</b></a></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMeituan's Annual revenue jumps 17.7%, above forecast<blockquote>美团-W年收入增长17.7%，高于预期</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-03-26 16:46</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Chinese food delivery giant Meituan on Friday reported fourth-quarter revenue that beat market forecasts, driven by a surge in on-demand services.</p><p><blockquote>在按需服务激增的推动下，中国食品配送巨头美团-W周五公布的第四季度收入超出了市场预期。</blockquote></p><p>Meituan: in 2020, the annual revenue is 114.79 billion yuan, the market expectation is 114.255 billion yuan, the same period last year is 97.529 billion yuan; the annual net profit is 4.71 billion yuan, the market expectation is 5.61 billion yuan, the same period last year is 2.239 billion yuan.</p><p><blockquote>美团-W：2020年全年营收1147.9亿元，市场预期1142.55亿元，去年同期975.29亿元；全年净利润47.1亿元，市场预期56.1亿元，去年同期22.39亿元。</blockquote></p><p>Revenue climbed to a record 37.92 billion yuan ($5.8 billion) in the fourth quarter, compared with the 36.8 billion yuan average forecast of analysts. The company swung to a net loss of 2.2 billion yuan, due to spending on new initiatives like community group buying.</p><p><blockquote>第四季度营收攀升至创纪录的379.2亿元人民币（合58亿美元），而分析师平均预期为368亿元人民币。由于社区团购等新举措的支出，该公司净亏损22亿元。</blockquote></p><p>Meituan warned it may continue to post operating losses for several quarters after reporting its fastest pace of sales growth in a year, underscoring the cost of expanding into newer arenas like online groceries.</p><p><blockquote>美团-W警告称，在报告了一年来最快的销售增长速度后，该公司可能会继续出现几个季度的运营亏损，突显了向在线杂货等新领域扩张的成本。</blockquote></p><p><img src=\"https://static.tigerbbs.com/f84902d3198f50d7cf5360aa49c22b48\" tg-width=\"1159\" tg-height=\"806\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/530cec505e6c5c1ad196b555fb900ba1\" tg-width=\"776\" tg-height=\"853\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/590111891ed9b07a37d9680b832ad5f7\" tg-width=\"922\" tg-height=\"731\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><img src=\"https://static.tigerbbs.com/a2b877f138a283ed48215164b8d53c2c\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>Company Financial Highlights </b></p><p><blockquote><b>公司财务摘要</b></blockquote></p><p>As China’s economic recovery accelerated as a result of the effective containment of the COVID-19 pandemic, our businesses recovered steadily during 2020. Total revenues increased by 17.7% year over year to RMB114.8 billion from RMB97.5 billion in 2019. Although the operating loss for new initiatives and others segment expanded as we further accelerated our business expansion efforts to satisfy consumers’ growing needs, our food delivery and in-store, hotel & travel segments achieved an aggregate operating profit by segment of RMB11.0 billion in 2020, an increase from RMB9.8 billion in 2019. Both adjusted EBITDA and adjusted net profit experienced negative year-over-year growth and decreased to RMB4.7 billion and RMB3.1 billion in 2020, respectively. Our operating cash flow increased to RMB8.5 billion in 2020 from RMB5.6 billion in 2019. We had cash and cash equivalents of RMB17.1 billion and short-term treasury investments of RMB44.0 billion as of December 31, 2020, compared to the balances of RMB13.4 billion and RMB49.4 billion, respectively, as of December 31, 2019.</p><p><blockquote>随著COVID-19疫情得到有效控制，中国经济加速复甦，我们的业务于二零二零年稳步复甦。总收入由2019年的人民币975亿元同比增长17.7%至人民币1,148亿元。尽管由于我们进一步加快业务扩张以满足消费者日益增长的需求，新计划及其他分部的经营亏损有所扩大，但我们的外卖及店内、酒店及旅游分部于2020年按分部划分的经营溢利总额为人民币110亿元，较2019年的人民币98亿元有所增加。经调整EBITDA及经调整净利润均出现同比负增长，于2020年分别减少至人民币47亿元及人民币31亿元。我们的经营现金流由2019年的人民币56亿元增加至2020年的人民币85亿元。截至2020年12月31日，我们的现金及现金等价物为人民币171亿元，短期资金投资为人民币440亿元，而截至2019年12月31日的结馀分别为人民币134亿元及人民币494亿元。</blockquote></p><p><b>Company Business Highlights </b></p><p><blockquote><b>公司业务亮点</b></blockquote></p><p><b>Food delivery </b></p><p><blockquote><b>送餐</b></blockquote></p><p>Food delivery became an increasingly essential service throughout the COVID-19 pandemic in 2020. Meanwhile, our strength in consumer base, merchant base and delivery network remained strong and continued to generate powerful network effects during 2020, enabling us to achieve solid growth. In 2020, GTV of our food delivery business increased by 24.5% year over year to RMB488.9 billion. The growth rate for the number of food delivery transactions continued to surge year over year, with the daily average number of food delivery transactions increasing by 16.0% year over year to 27.7 million. The average value per order of our food delivery business increased by 7.0% year over year to RMB48.2. Monetization Rate of our food delivery business decreased to 13.6% from 14.0% in 2019. As a result, revenue increased by 20.8% year over year to RMB66.3 billion. Operating profit from food delivery business increased to RMB2.8 billion in 2020 from RMB1.4 billion in 2019, while operating margin increased to 4.3% from 2.6%. Our solid business performance in 2020 was a testament to our resilient business model and strong execution capabilities.</p><p><blockquote>2020年，送餐成为整个新冠肺炎疫情越来越重要的服务。与此同时，我们在消费者基础、商户基础和配送网络方面的实力仍然强劲，并在2020年继续产生强大的网络效应，使我们能够实现稳健增长。于二零二零年，我们外卖业务的总营业额同比增长24.5%至人民币4,889亿元。外卖交易笔数同比增速持续飙升，日均外卖交易笔数同比增长16.0%至2770万笔。外卖业务的平均每份订单价值同比增长7.0%至人民币48.2元。外卖业务的货币化率由2019年的14.0%下降至13.6%。因此，收入同比增长20.8%至人民币663亿元。外卖业务的经营利润由2019年的人民币14亿元增加至2020年的人民币28亿元，而经营利润率由2.6%增加至4.3%。我们于2020年稳健的业务表现证明了我们富有弹性的业务模式和强大的执行能力。</blockquote></p><p>For the fourth quarter of 2020, GTV of our food delivery business increased by 39.4% year over year to RMB156.3 billion. The daily average number of food delivery transactions increased by 33.0% year over year to 36.2 million. The average value per order of our food delivery business increased by 4.8% year over year to RMB46.9. Monetization Rate of our food delivery business decreased to 13.8% from 14.0% in the same period of 2019. As a result, revenue increased by 37.0% year over year to RMB21.5 billion. Operating profit from our food delivery business increased to RMB882.4 million for the fourth quarter of 2020 from RMB482.8 million for the fourth quarter of 2019, while operating margin increased to 4.1% from 3.1%.</p><p><blockquote>于二零二零年第四季度，我们外卖业务的GTV同比增长39.4%至人民币1,563亿元。日均外卖交易笔数同比增长33.0%至3620万笔。外卖业务的平均每份订单价值同比增长4.8%至人民币46.9元。外卖业务的货币化率由2019年同期的14.0%下降至13.8%。因此，收入同比增长37.0%至人民币215亿元。外卖业务的经营利润由2019年第四季度的人民币482.8百万元增加至2020年第四季度的人民币882.4百万元，而经营利润率由3.1%增加至4.1%。</blockquote></p><p><b>In-store, hotel & travel </b></p><p><blockquote><b>店内、酒店和旅行</b></blockquote></p><p></p><p>Benefitting from the effective containment of the COVID-19 pandemic, local consumption in China experienced a steady recovery, and our in-store, hotel & travel businesses, which were the most impacted businesses in 2020, gradually ramp back up, but has yet to fully recover to normal levels. Revenues from our in-store, hotel & travel businesses decreased by 4.6% year over year to RMB21.3 billion in 2020. Operating profit from our in-store, hotel & travel businesses decreased to RMB8.2 billion in 2020 from RMB8.4 billion in 2019, while operating margin increased to 38.5% from 37.7%.</p><p><blockquote>受惠于COVID-19疫情的有效控制，中国本地消费稳步复甦，我们于二零二零年受影响最大的店内、酒店及旅游业务逐步回升，但尚未完全恢复至正常水平。2020年，我们的店内、酒店及旅游业务收入同比下降4.6%至人民币213亿元。店内、酒店及旅游业务的经营溢利由2019年的人民币84亿元减少至2020年的人民币82亿元，而经营利润率则由37.7%增加至38.5%。</blockquote></p><p>For the fourth quarter of 2020, revenues from our in-store, hotel & travel businesses increased by 12.2% year over year to RMB7.1 billion, despite the reoccurrence of the COVID-19 pandemic in several cities. Operating profit from our in-store, hotel & travel businesses increased to RMB2.8 billion from RMB2.3 billion for the fourth quarter of 2019, while operating margin increased to 39.5% from 36.7%.</p><p><blockquote>2020年第四季度，尽管COVID-19疫情在多个城市复发，但我们的店内、酒店及旅游业务收入同比增长12.2%至人民币71亿元。店内、酒店及旅游业务的营业利润由2019年第四季度的人民币23亿元增至人民币28亿元，营业利润率由36.7%增至39.5%。</blockquote></p><p><b>New initiatives and others</b></p><p><blockquote><b>新举措及其他</b></blockquote></p><p>During 2020, we continued to ramp up our investments in new initiatives, especially in areas that we believed to have promising long-term growth potential and fit well into our “Food + Platform” strategy. Revenues from the new initiatives and others segment increased by 33.6% year over year to RMB27.3 billion in 2020. Operating loss from new initiatives and others segment expanded to RMB10.9 billion 2020 from RMB6.7 billion in 2019, while operating margin decreased 6.7 percentage points year over year. For the fourth quarter of 2020, revenues from the new initiatives and others segment increased by 51.9% year over year to RMB9.2 billion. Operating loss for the segment increased both year over year and quarter over quarter to negative RMB6 billion in the fourth quarter of 2020, while the operating margin decreased to negative 64.9%.</p><p><blockquote>于二零二零年，我们继续加大对新项目的投资，尤其是在我们认为具有良好长期增长潜力并与我们的“食品+平台”战略相契合的领域。2020年，新计划及其他分部的收入同比增长33.6%至人民币273亿元。新业务及其他分部的经营亏损由2019年的人民币67亿元扩大至2020年的人民币109亿元，而经营利润率同比下降6.7个百分点。2020年第四季度，新计划及其他分部的收入同比增长51.9%至人民币92亿元。2020年第四季度，该部门的经营亏损同比和环比均增加至负人民币60亿元，而经营利润率则下降至负64.9%。</blockquote></p><p><b>Company Outlook for 2021</b></p><p><blockquote><b>2021年公司展望</b></blockquote></p><p>Overall, our food delivery and in-store, hotel & travel businesses continued to deliver solid results, demonstrated their unique values and have increasingly become a new infrastructure for peoples’ daily life in this challenging year of 2020. We reaffirm our belief that our food delivery and in-store, hotel & travel businesses have a significant runway for future growth and operation optimization over the long term. While our significant investments in new initiatives hampered our overall profitability in 2020, these new initiatives are also creating increasing value for consumers, merchants, our business partners, and the broader society. We remain committed to making investments in big opportunities that are capable of delivering long-term growth and providing consumers and all participants with more value. We believe community e-commerce is one of such big opportunities, and we will allocate sufficient resources to accelerate its development in 2021 while continuously improving its operating efficiency. Increasing investments in new initiatives may continue to cause significant negative impacts on our overall financial results, and the Company may continue to record operating losses in the next few quarters as we ramp up our community e-commerce business. However, we have always focused on long-term growth rather than short-term profits, adhering to a long-term oriented investment philosophy. More importantly, we remain optimistic about the prospects of China’s economic development. We believe that our determination to accelerate the digitization and online operation of the boarder industry over the long term will allow us to benefit from the digitization trend and industry growth. As such, we will continue to help merchants enhance operational efficiency across industries through innovations and better services, provide more convenience, as well as quality products and services at affordable cost for consumers, and create more value for the society with the help of technology, fulfilling our mission that “We help people eat better, live better.”</p><p><blockquote>整体而言，我们的外卖、店内、酒店及旅游业务继续取得稳健的业绩，彰显其独特价值，并在2020年这个充满挑战的一年日益成为人们日常生活的新基础设施。我们重申我们的信念，即从长远来看，我们的食品配送、店内、酒店和旅游业务具有未来增长和运营优化的重要跑道。虽然我们对新举措的重大投资阻碍了我们2020年的整体盈利能力，但这些新举措也为消费者、商家、我们的业务合作伙伴和更广泛的社会创造了越来越多的价值。我们仍然致力于投资于能够实现长期增长并为消费者和所有参与者提供更多价值的重大机遇。我们相信社区电商是其中一个重大机遇，我们将分配足够资源于2021年加速其发展，同时不断提高其运营效率。增加对新举措的投资可能会继续对我们的整体财务业绩造成重大负面影响，随着我们加大社区电子商务业务，公司可能会在未来几个季度继续录得运营亏损。但我们始终关注长期增长而非短期利润，坚持长期导向的投资理念。更重要的是，我们对中国经济发展前景保持乐观。我们相信，从长远来看，我们加快寄宿生行业数字化和线上化运营的决心将使我们受益于数字化趋势和行业增长。因此，我们将继续通过创新和更好的服务，帮助商家提高跨行业的运营效率，为消费者提供更多便利以及价格合理的优质产品和服务，并借助科技为社会创造更多价值，践行“我们帮助人们吃得更好，生活得更好”的使命。</blockquote></p><p><a href=\"https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0326/2021032600589.pdf\" target=\"_blank\"><b>Meituan financial report</b></a></p><p><blockquote><a href=\"https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0326/2021032600589.pdf\" target=\"_blank\"><b>美团-W财报</b></a></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"03690":"美团-W"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1183857473","content_text":"Chinese food delivery giant Meituan on Friday reported fourth-quarter revenue that beat market forecasts, driven by a surge in on-demand services.Meituan: in 2020, the annual revenue is 114.79 billion yuan, the market expectation is 114.255 billion yuan, the same period last year is 97.529 billion yuan; the annual net profit is 4.71 billion yuan, the market expectation is 5.61 billion yuan, the same period last year is 2.239 billion yuan.Revenue climbed to a record 37.92 billion yuan ($5.8 billion) in the fourth quarter, compared with the 36.8 billion yuan average forecast of analysts. The company swung to a net loss of 2.2 billion yuan, due to spending on new initiatives like community group buying.Meituan warned it may continue to post operating losses for several quarters after reporting its fastest pace of sales growth in a year, underscoring the cost of expanding into newer arenas like online groceries.Company Financial Highlights As China’s economic recovery accelerated as a result of the effective containment of the COVID-19 pandemic, our businesses recovered steadily during 2020. Total revenues increased by 17.7% year over year to RMB114.8 billion from RMB97.5 billion in 2019. Although the operating loss for new initiatives and others segment expanded as we further accelerated our business expansion efforts to satisfy consumers’ growing needs, our food delivery and in-store, hotel & travel segments achieved an aggregate operating profit by segment of RMB11.0 billion in 2020, an increase from RMB9.8 billion in 2019. Both adjusted EBITDA and adjusted net profit experienced negative year-over-year growth and decreased to RMB4.7 billion and RMB3.1 billion in 2020, respectively. Our operating cash flow increased to RMB8.5 billion in 2020 from RMB5.6 billion in 2019. We had cash and cash equivalents of RMB17.1 billion and short-term treasury investments of RMB44.0 billion as of December 31, 2020, compared to the balances of RMB13.4 billion and RMB49.4 billion, respectively, as of December 31, 2019.Company Business Highlights Food delivery Food delivery became an increasingly essential service throughout the COVID-19 pandemic in 2020. Meanwhile, our strength in consumer base, merchant base and delivery network remained strong and continued to generate powerful network effects during 2020, enabling us to achieve solid growth. In 2020, GTV of our food delivery business increased by 24.5% year over year to RMB488.9 billion. The growth rate for the number of food delivery transactions continued to surge year over year, with the daily average number of food delivery transactions increasing by 16.0% year over year to 27.7 million. The average value per order of our food delivery business increased by 7.0% year over year to RMB48.2. Monetization Rate of our food delivery business decreased to 13.6% from 14.0% in 2019. As a result, revenue increased by 20.8% year over year to RMB66.3 billion. Operating profit from food delivery business increased to RMB2.8 billion in 2020 from RMB1.4 billion in 2019, while operating margin increased to 4.3% from 2.6%. Our solid business performance in 2020 was a testament to our resilient business model and strong execution capabilities.For the fourth quarter of 2020, GTV of our food delivery business increased by 39.4% year over year to RMB156.3 billion. The daily average number of food delivery transactions increased by 33.0% year over year to 36.2 million. The average value per order of our food delivery business increased by 4.8% year over year to RMB46.9. Monetization Rate of our food delivery business decreased to 13.8% from 14.0% in the same period of 2019. As a result, revenue increased by 37.0% year over year to RMB21.5 billion. Operating profit from our food delivery business increased to RMB882.4 million for the fourth quarter of 2020 from RMB482.8 million for the fourth quarter of 2019, while operating margin increased to 4.1% from 3.1%.In-store, hotel & travel Benefitting from the effective containment of the COVID-19 pandemic, local consumption in China experienced a steady recovery, and our in-store, hotel & travel businesses, which were the most impacted businesses in 2020, gradually ramp back up, but has yet to fully recover to normal levels. Revenues from our in-store, hotel & travel businesses decreased by 4.6% year over year to RMB21.3 billion in 2020. Operating profit from our in-store, hotel & travel businesses decreased to RMB8.2 billion in 2020 from RMB8.4 billion in 2019, while operating margin increased to 38.5% from 37.7%.For the fourth quarter of 2020, revenues from our in-store, hotel & travel businesses increased by 12.2% year over year to RMB7.1 billion, despite the reoccurrence of the COVID-19 pandemic in several cities. Operating profit from our in-store, hotel & travel businesses increased to RMB2.8 billion from RMB2.3 billion for the fourth quarter of 2019, while operating margin increased to 39.5% from 36.7%.New initiatives and othersDuring 2020, we continued to ramp up our investments in new initiatives, especially in areas that we believed to have promising long-term growth potential and fit well into our “Food + Platform” strategy. Revenues from the new initiatives and others segment increased by 33.6% year over year to RMB27.3 billion in 2020. Operating loss from new initiatives and others segment expanded to RMB10.9 billion 2020 from RMB6.7 billion in 2019, while operating margin decreased 6.7 percentage points year over year. For the fourth quarter of 2020, revenues from the new initiatives and others segment increased by 51.9% year over year to RMB9.2 billion. Operating loss for the segment increased both year over year and quarter over quarter to negative RMB6 billion in the fourth quarter of 2020, while the operating margin decreased to negative 64.9%.Company Outlook for 2021Overall, our food delivery and in-store, hotel & travel businesses continued to deliver solid results, demonstrated their unique values and have increasingly become a new infrastructure for peoples’ daily life in this challenging year of 2020. We reaffirm our belief that our food delivery and in-store, hotel & travel businesses have a significant runway for future growth and operation optimization over the long term. While our significant investments in new initiatives hampered our overall profitability in 2020, these new initiatives are also creating increasing value for consumers, merchants, our business partners, and the broader society. We remain committed to making investments in big opportunities that are capable of delivering long-term growth and providing consumers and all participants with more value. We believe community e-commerce is one of such big opportunities, and we will allocate sufficient resources to accelerate its development in 2021 while continuously improving its operating efficiency. Increasing investments in new initiatives may continue to cause significant negative impacts on our overall financial results, and the Company may continue to record operating losses in the next few quarters as we ramp up our community e-commerce business. However, we have always focused on long-term growth rather than short-term profits, adhering to a long-term oriented investment philosophy. More importantly, we remain optimistic about the prospects of China’s economic development. We believe that our determination to accelerate the digitization and online operation of the boarder industry over the long term will allow us to benefit from the digitization trend and industry growth. As such, we will continue to help merchants enhance operational efficiency across industries through innovations and better services, provide more convenience, as well as quality products and services at affordable cost for consumers, and create more value for the society with the help of technology, fulfilling our mission that “We help people eat better, live better.”Meituan financial report","news_type":1,"symbols_score_info":{"03690":0.9}},"isVote":1,"tweetType":1,"viewCount":226,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":7,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/356982499"}
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