Shulou(Shulou.com)11/24 Report--

Thank you, Mr. Air, a netizen of CTOnews.com, for your clue delivery! On the afternoon of May 25, Meituan released its financial results for the first quarter of 2023 today. According to the financial report, the company's revenue in the first quarter was 58.62 billion yuan, up 26.7% from a year earlier. The net profit is 3.36 billion yuan, with an estimated loss of 210.4 million yuan; after adjustment, the net profit is 5.49 billion yuan, turning from a loss to a profit over the same period last year.

Core local business: according to the financial report, in the first quarter of 2023, the revenue of Meituan's core local business division increased by 25.5% year-on-year to 42.9 billion yuan, the operating profit increased by 100.7% to 9.4 billion yuan, and the operating profit margin increased to 22.0% from 13.8% in the same period in 2022. The number of real-time distribution transactions increased by 14.9% over the same period last year.

(note: Meituan's core local business mainly includes the original catering takeout and arrival, hotel and tourism branches, as well as Meituan flash purchases, accommodation and transportation ticketing)

New business: according to the financial report, the revenue of Meituan's new business division increased by 30.1% to 15.7 billion yuan in the first quarter of 2023 compared with the same period last year. The division's operating loss narrowed by 40.5% to 5 billion yuan compared with the same period last year, and the operating loss rate narrowed to 32.0% month-on-month.

Other aspects: Meituan's R & D expenditure increased by 3.5% from 4.9 billion yuan in the first quarter of 2022 to 5 billion yuan in the same period in 2023, down 1.9 percentage points from 10.5% year-on-year to 8.6%.

Meituan's general and administrative expenses decreased from 2.3 billion yuan in the first quarter of 2022 to 2 billion yuan in the same period in 2023, accounting for 1.6 percentage points of income from 5.0% year-on-year to 3.4%.

Meituan's cost of sales increased by 9.2% from 35.5 billion yuan in the first quarter of 2022 to 38.8 billion yuan in the same period in 2023, down 10.6 percentage points from 76.8% to 66.2%.

Meituan's sales and marketing expenses increased by 14.6% from 9.1 billion yuan in the first quarter of 2022 to 10.4 billion yuan in the same period in 2023, down 1.9 percentage points from 19.7% to 17.8%.

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