China's online service super-app Meituan's revenue rose 77 percent year-over-year to RMB 43.76 billion ($6.77 billion) in the second quarter, with a net loss of RMB 3.36 billion, according to the company's second-quarter earnings report released Monday.
The company reported a net loss of RMB 8.2 billion on revenue of RMB 80.78 billion for the first half of the year.
The company's food delivery, hospitality and travel segments reported a 97 percent year-over-year increase in total operating profit to RMB 6.1 billion in the second quarter.
Meituan's Adjusted EBITDA and Adjusted Net Loss for the second quarter fell to negative RMB 1.2 billion and RMB 2.2 billion respectively.
Meituan's net cash inflow from operating activities decreased 48.3 percent year-over-year to RMB 2.9 billion in the second quarter.
The company's food delivery business saw a 59.5 percent year-over-year increase in transaction value to RMB 173.6 billion in the second quarter.
The average daily number of food delivery transactions increased 58.9 percent year-over-year to 38.9 million and revenue increased 59.0 percent year-over-year to RMB 23.1 billion.
Operating profit from the food delivery business increased 95.2 percent to RMB 2.4 billion in the second quarter, and operating margin increased from 8.6 percent to 10.6 percent.
The company said in its earnings report that China's State Administration for Market Regulation (SAMR) announced in April that it had opened an investigation into Meituan's alleged monopolistic practices, including "forced exclusivity," and that the investigation was still ongoing as of the date of this report.
The company says it cannot predict the circumstances or outcome of the investigation and may be required to change its business practices or may be subject to significant fines.
Meituan raises nearly $400 million from Tencent through share offering
