Meituan Q1 Revenue Up 25% YoY, Net Profit Surges 36.4%
Earnings call: $MEITUAN-W (03690.HK)$ has over 100 million members. Q2 on-demand orders to normalize. AI empowers merchants, increased live streaming.
Meituan's Q1 revenue and net profit both saw double-digit percentage growth, significantly exceeding market expectations. User and merchant numbers hit record highs, and instant delivery orders surged.
Meituan plans cautious global expansion for its grocery service while empowering merchants with AI and offering discounts to attract consumers.
The company is also increasing live streaming efforts and deepening market penetration to adapt to changing consumption trends.
Emerging businesses like shared bikes and power banks are industry leaders.
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