Meituan, which has an app that provides services as varied as bike-sharing, ticket-booking and maps, reported revenue in the three months to Sept. 30 at 93.58 billion yuan ($12.94 billion), up from 76.47 billion yuan in the same period a year earlier.
Its net profit for the quarter hit 12.86 billion yuan, increasing from a profit of 3.59 billion yuan a year earlier.
Penny-pinching Chinese consumers have led to low-cost and discounted products becoming the focus for shoppers and platforms alike, benefitting Meituan, which delivers the goods for a small fee.
Meituan’s revenue from core local commerce, which includes food delivery and non-food delivery service Meituan Instashopping, rose 20.2% to 69.37 billion yuan.
-
Web Development
Master RESTful APIs with Python and Django REST Framework: Web API Development
-
Data Science
SQL Server Bootcamp 2024: Transform from Beginner to Pro
-
Web Development
Mastering Full Stack Development: From Frontend to Backend Excellence
-
Artificial Intelligence(AI)
Tabnine AI Masterclass: Optimize Your Coding Efficiency
-
Data Science
SQL for Data Science along with Data Analytics and Data Visualization
-
Artificial Intelligence(AI)
Basics of Generative AI: Unveiling Tomorrow’s Innovations
-
Strategy
ESG and Business Sustainability Strategy
-
Finance
Financial Literacy for Non-Finance Executives
-
Leadership
Crafting a Powerful Startup Value Proposition
-
Artificial Intelligence(AI)
Mastering C++ Fundamentals with Generative AI: A Hands-On
-
Office Productivity
Advanced Excel Course – Financial Calculations & Excel Made Easy
-
Marketing
Future of Marketing & Branding Masterclass
-
Marketing
Modern Marketing Masterclass by Seth Godin
-
Finance
Startup Fundraising: Essential Tactics for Securing Capital
-
Office Productivity
Microsoft Word Mastery: From Beginner to Expert
-
Astrology
Vastu Shastra Course
-
Artificial Intelligence(AI)
AI for Everyone: Understanding and Applying the Basics on Artificial Intelligence
-
Office Productivity
Mastering Microsoft Office: Word, Excel, PowerPoint, and 365
-
Artificial Intelligence(AI)
ChatGPT Mastery from Zero to Hero: The Complete AI Course
-
Office Productivity
Zero to Hero in Microsoft Excel: Complete Excel guide 2024
-
Strategy
Succession Planning Masterclass
-
Finance
Financial Literacy i.e Lets Crack the Billionaire Code
-
Leadership
From Idea to Product: A Startup Development Guide
Sales from new initiatives grew 28.9% to 24.2 billion yuan.
Discover the stories of your interest
Last year, Meituan announced it was buying Light Year, an artificial intelligence (AI) startup established by Meituan co-founder Wang Huiwen, for $281 million as major tech firms in China increase their bets on AI. Meituan is China’s biggest delivery platform, with a 69% share of the 1 trillion yuan market, according to data from researcher ChinaIRN.
