Meituan's annual revenue increased 25.8% to RMB276.7bn in 2023, with core local commerce segment operating profit up 31.2% to RMB38.
Meituan, China's leading tech-driven retail company, reported a 25.8% increase in annual revenue to RMB276.7bn in 2023, as core local commerce segment operating profit rose by 31.2% to RMB38.7bn. The New initiatives segment's operating loss narrowed to RMB20.2bn from RMB28.4bn in 2022. Net profit for the year was RMB13.9bn, compared to a loss of RMB6.7bn in 2022. Q4 revenue rose 22.6% to 73.7bn yuan.
March 22, 2024
8 Articles