In the second quarter, the loss was 2.06 billion yuan, how can Meituan keep the soil open

Meituan appeared at the China International Services Trade Fair in 2022. Meituan map

The turn of Meituan's profitability came quietly in the second quarter.

On August 26, Meituan released the second quarter of 2022. In the context of the steady recovery of the real economy and the seasonal peak season, Meituan achieved a revenue of 50.9 billion yuan, an increase of 16.4%year -on -year; a net loss of 1.2 billion yuan, a narrowing of 67%year -on -year; the net profit after adjustment was 2.06 billion yuan, achieving a turnover into profit to profit into profitability into profit. Essence

In fact, in the context of reducing costs and efficiency in the industry, profit is becoming the main tone of many Internet companies in 2022. From the perspective of financial reports, in the face of repeated epidemic competition with the industry, Meituan's basic consisted of steady progress, the new business losses narrowed, and the performance went up.

As Meituan CEO Wang Xing said: "In this quarter, Meituan continued to improve quality and efficiency, and various businesses achieved high -quality growth."

Business gradually stable new business losses narrowing

In the second quarter, Meituan handed out a dazzling transcript.

The cost end is effectively controlled, and the operation of Meituan pays more attention to efficiency. According to the financial report, the sales cost rate decreased from 71.4%in the same period last year to 2.0 percentage points to 69.4%, and the marketing cost rate also decreased from 24.8%in the same period last year to 7.2 percentage points to 17.6%.

The quarterly benefits also contribute to the growth of the core business. Meituan's financial report telephone pointed out that due to the positive seasonal factors in the second quarter, it has always belonged to the industry's peak season. In addition to the macro background of the steady recovery of physical consumption, the operating profit margin of the core local business has been improved in this quarter.

"Based on a steady business strategy, the sales costs accounted for the income ratio and the marketing costs all year -on -year and the month -on -month downgrade. Driven by this, Meituan's operating loss in the second quarter was 490 million yuan, which was significantly narrowed year -on -year and month -on -month." True reporters to China City Daily reporters.

In addition, the loss of losses of new businesses is also worthy of attention. The financial report shows that under the new statistical caliber, the revenue of the new business branch increased from 10.1 billion yuan in the second quarter of 2021 to 40.7%to 14.2 billion yuan in the same period in 2022. The operating loss of the sub -ministry decreased from 8.5 billion yuan in the first quarter of 2022 to 6.8 billion yuan in the second quarter of 2022, and the operating loss ratio narrowed from 69.9%to 21.9 percentage points to 48.0%.

The financial report shows that the growth of new business income is mainly due to the growth of the retail business of commodity, and the improvement of operating losses is mainly due to the improvement of the operating efficiency of commodity retail business.

"The loss of the new business of Meituan's new business is the improvement of efficiency, and on the other hand, it is the adjustment of business adjustment." Chen Liteng, a digital life analyst at the Internet Electronic Commerce Research Center, told the China City News reporter that Meituan is in the Meituan group that Meituan is in the United States. The attitude of changes to the new business has always changed from investment to regular review. This change reflects both the change of the external environment and the change of the company's development strategy. "At present, the pursuit of high growth is no longer the core goal of Internet companies, including Meituan, business shrinkage, focusing on steadily growth of core business positions," he said.

Expert in real -time retail Meituan flash purchase high songs

China City Daily reporters have noticed that since the second quarter of 2022, Meituan has adjusted the business disclosure caliber, and adjusted from the original three sections of "catering takeaway, store wine travel and new business" to "core local business and new businesses. "Two major branches.

Among them, the core local business covers the original catering takeaway and stores, hotels and tourism branches, as well as Meituan flash purchase, homestays, and traffic tickets; the new business is Meituan preferably, Meituan buy food, catering supply chain supply chain (Kuai donkey), online car rental, shared bicycles, shared electric vehicles, charging treasures, restaurant management systems and others.

The adjustment of the business disclosure caliber reflects the development trend of Meituan -Meituan flash purchase has entered the core local business camp, and instant retail is running out of "acceleration".

The epidemic has spawned consumers' real -time retail demand for 30 minutes of "all things", and orders have increased significantly. Meituan flash purchase mainly relies on offline stores, relying on platform riding resources to achieve "all things can be distributed." Rider resources that are idle during the peak of the meal can reuse capacity during non -catering high -frequency stages to better allocate resources.

It is reported that the flash purchase business born in 2018 is more than 50%of the annual growth rate, becoming the most incremental business to bring Meituan to Meituan. According to the financial report, in the second quarter, the number of flash purchase orders in Meituan was 390 million, a year -on -year increase of 42%, and the average daily single volume reached 4.3 million. The number of instant delivery orders in Meituan increased to 4.1 billion, and the quarterly local commercial sector revenue increased to 36.8 billion yuan in the core local commercial sector, including catering takeaway and Meituan flash purchase business.

As the core of the core local business growth pole, Meituan's financial report telephone also frequently mentioned Meituan's flash purchase, and believes that the quarterly performance of Meituan's flash purchase is bright. Due to the blocked traditional e -commerce and logistics in the epidemic, people have changed more to use more useful use Instant retail services, a large number of large orders based on families have significantly increased customer unit prices, which has brought about a substantial increase in income.

The continuously growing instant retail order also provides new momentum for the recovery and development of local physical merchants. In the second quarter, the number of active merchants in Meituan platform increased to 9.2 million, a record high.

In addition, the financial report also mentioned that Meituan has launched more Meituan lighting warehouses on the supply side, launched the city's drug delivery service, lengthened the pharmaceutical distribution distance, and believes that these measures have further enhanced the consumption of Meituan's consumption of all things to buy all things home. Cognition.

"Meituan has a leading position in the takeaway market. The takeaway business and instant retail have a strong synergy effect, which effectively improves the effectiveness of the delivery." Wei Jianhui, an analyst of the retail industry of the brand, told the China City News reporter that accompanied by the industry participants More and more, the entire market maturity has increased, and instant retail is expected to drive e -commerce services to a new level. Relying on the real -time retail track of the local entity, it has also expanded the new growth space for small and medium -sized offline merchants, and diverse merchant resources can better stable and stable the basic disk. From January to July this year, the transaction volume of convenience stores and supermarkets on the Meituan platform increased by 54%year -on -year, of which couples increased by 110%.

How to develop high -quality local life competition

The local life field is the hinterland of Meituan. At present, competitors are also blowing the charge to the field.

"If you add a real -time retail business, the players in the local life are mainly Meituan, Douyin joined forces to be hungry, Tao Xianda, JD.com+JD.com, Hema Xiansheng and other retailers, Ding Dong Buying The pre -warehouse of the vegetables and the community group purchase of a lot of vegetables. "Zhuang Shuai, an expert in the retail e -commerce industry and the founder of Bailian Consulting, said in an interview with the media," At present, JD.com has a certain differentiated ability, but In the next five years, Meituan's leading position can still be maintained. "

"From the perspective of the development and evolution of the entire e -commerce company, from far -field e -commerce to near -field e -commerce to real -time retail, the changes in consumer population and demand preferences are getting higher and higher. The market for e -commerce to compete. "Wei Jianhui said that in the future, whether the instant retail business mainly focused on flash purchase will drive other new businesses to form a resonance effect and promote the increasing revenue and profitability of Meituan.

The pursuit of both quality and efficiency is essential for Internet companies that are gradually competing out of money.

"In the long run, the operating profit margin in the second quarter shows the long -term profit potential of the core local business." Meituan CFO Chen Shaohui believes that the industry is moving in the direction of high -quality development. And improve efficiency.

"As a retail company that has rooted in China, Meituan deeply feels the toughness of economic fundamentals and the deep potential of national consumption. Meituan will firmly focus on the 'retail+technology' strategy and help the digital economy and the real economy in depth of the real economy through science and technology innovation. Work hard to contribute to the stable growth of China's economy, help everyone eat better, and life is better. "Wang Xing said.

■ China City News Reporter: Fang Ziwei

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