China's online-service super-app Meituan Dianping reported revenue of RMB28,158 million in the fourth quarter, and revenue of RMB19,803 million in the same period in 2018, a year-on-year increase of 42.2%. The financial report released recently shows.

The adjusted net profit was 2.27 billion yuan. In the same period of 2018, adjusted net loss was 1.582 billion yuan, which was a year-on-year loss.

The total revenue of Meituan in 2019 was 97.5 billion yuan, a year-on-year increase of 49.5%. Gross profit totaled 32.3 billion yuan, a year-on-year increase of 114.0%, and operating profit changed from a negative RMB 11.1 billion in 2018 to a positive RMB 2.7 billion.

Adjusted EBITDA and adjusted net profit were 7.3 billion and 4.7 billion yuan, respectively. Operating cash flow has changed from a negative 9.2 billion yuan in 2018 to a positive 5.6 billion yuan in 2019.

As of December 31, 2019, cash and cash equivalents were RMB 13.4 billion and short-term investments were RMB 49.4 billion. The balances as of December 31, 2018, were RMB 17 billion and RMB 41.8 billion, respectively.

Catering Takeaway

The financial report shows that in 2019, catering takeaway income increased by 43.8% year-on-year to RMB 54.8 billion.

In 2019, the gross profit of the catering takeaway business increased by 94.2% to RMB 10.2 billion, and the gross profit margin increased from 13.8% to 18.7% year-on-year.

In the fourth quarter of 2019, the total transaction value of the food delivery business increased by 39.9% year-on-year to RMB 112.1 billion, and the average daily transaction volume of food delivery business increased by 36.7% year-on-year to 27.2 million.

Arrivals, hotels, and tourism

In 2019, the transaction value of in-store, hotel and tourism business increased by 25.6% year-on-year to RMB 222.1 billion.

In 2019, revenue from in-store, hotel and tourism business increased by 40.6% year-on-year to RMB 22.3 billion.

In 2019, the gross profit of in-store, hotel and tourism business increased by 40.1% year-on-year to RMB 19.7 billion, while the gross profit margin remained relatively stable year-on-year.

In the fourth quarter of 2019, the growth of transaction value to stores, hotels and tourism continued to accelerate, up 35.3% year-on-year to RMB 60.4 billion.

In the fourth quarter of 2019, revenue from in-store, hotel and tourism business increased by 38.4% year-on-year to RMB 6.4 billion.

In the fourth quarter of 2019, gross profit from visitors, hotel and tourism businesses increased to RMB 5.6 billion, while gross profit margin increased from 86.8% to 88.8% year-on-year.

New business and other segments

In 2019, revenue from new business and other segments increased by 81.5% year-on-year to RMB 20.4 billion.

The gross profit of the new business and other segments increased from a negative value of RMB 4.3 billion in 2018 to a positive value of RMB 2.3 billion in 2019, while the gross profit margin improved from a negative value of 37.9% in 2018 to a positive value of 11.5% in 2019 .

In the fourth quarter of 2019, revenue from this segment increased by 44.8% year-on-year to RMB 6.1 billion in 2019.

Gross profit increased from a negative RMB 1 billion in 2018 to a positive RMB 1.3 billion in 2019, while the gross profit margin improved from a negative value of 23.3% in 2018 to a positive value of 21.2% in 2019.