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<Editor's Pick>How does food-delivery tycoon Meituan post first profit since listing in Q2?
A few days after Wang Xing talked about "depression", Meituan released a financial report that seemed to relieve the depression.
On August 23, Meituan Dianping released its second quarter earnings report for 2019: the total revenue of the Meituan is 22.7 billion yuan, a year-on-year increase of 50.6%. Among the total income composition, the income from food delievry is 12.845 billion yuan, a year-on-year increase of 44.2%, accounting for 56.6% of the total income. The transaction price of food delivery in the quarter is 93.1 billion yuan, an increase of 36.5%. The number of transactions was 2.1 billion, a year-on-year increase of 34.6%. Meituan's share in the food delivery industry also increased to 65.1% (data source: Trustdata).
Although in the past few years, the performance of the Meituan was like this: a loss of 5.9 billion yuan in 2015; a loss of 5.4 billion yuan in 2016; a loss of 2.8 billion yuan in 2017; a loss of 8.52 billion yuan in 2018; and a loss of 1.303 billion yuan in the first quarter of 2019 (after adjustment, the loss was 1 billion yuan).
However, in order to make Q2's financial report "looks good", Meituan makes its greatest efforts: at the beginning of the year, it greatly increased the commission and reduced the marketing expenses. It chose the convergent mode instead of keeping supporting subsidy by cash burning in ride hailing service. Also, it gradually smashed the drag of Mobike.