362 Followers HKEX:3690 - Meituan Meituan
Sector: Consumer Discretionary, Industry: Internet & Direct Marketing Retail
Next Earnings: 22 Mar 2024
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HKD 88.4    +8.6 (+10.78%)

1 Mar 2024


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General

CEO: Mr. Xing Wang

Headquarters: HK

Employees: 91,932

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Description

Meituan is the largest food delivery service in China, with a 70.7% share of the market in 2020 per the Chinese government. For the quarter-ended Sept. 30, 2021, the firm generated 54.2% of revenue from food delivery services, 17.7% from hotel booking, coupon sales, advertising, and 28.1% from new initiatives. In the long term, its new initiatives business may transform the company into an all-encompassing grocer and logistics business involving community group buying, nonfood delivery, and online grocery, overtaking food delivery as its main business.

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