Meituan Food Delivery

Meituan Dianping Sees Growing Losses in Fourth Quarter 2018

March 13, 2019 5:04 pm

BEIJING (PingWest) – Meituan Dianping, China’s food delivery-to-ticketing company that listed on the Hong Kong Stock Exchange market last September, announced its financial results on March 11 for the fourth quarter and the full year ended December 31, 2018.

Annual revenue was $9.72 billion (RMB 65.23billion) for the full year 2018, up 92.3% on a year-on-year basis. Food delivery dominates the revenue. However, due to the acquisition of Mobike and new services, the company’s adjusted loss was $12.70 billion (RMB 85.2 billion), an increase of 198.6% year-on-year.

Total gross transaction volume reached $76.85 billion (RMB 515.64 billion), up 44.3% year-on-year. The financial report also said the number of annual users grew from 309 million to 400 million, a 30% increase.