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Meituan 2022 financial report： annual revenue 220 billion yuan, an increase of 23%

On March 24, Meituan released the fourth quarter and full year results of 2022. The company’s various businesses continued to achieve steady growth, with annual revenue of 220 billion yuan (RMB, the same below), an increase of 23% year-on-year, and adjusted net profit of 2.80 billion yuan.

This year, Meituan deepened its "retail + technology" strategy and continued to increase investment in scientific research in key areas. The annual R & D expenditure increased by 24% year-on-year to 20.70 billion yuan, a record high.

At the same time, Meituan’s annual instant delivery orders increased by 14% year-on-year to 17.70 billion orders, of which the peak daily order volume of catering takeaway orders exceeded 60 million orders. The stickiness between users and the platform further increased, and the average annual transaction number of users reached 40.8, an increase of 14% year-on-year.

"In 2022, we will continue to provide hundreds of millions of consumers with assured goods and convenient services, and help millions of merchants use digital means to expand their online operations, which will drive more consumption and create more jobs," said Wang Xing, CEO of Meituan. "In the process of promoting the digital upgrading of life services and retail industries through technological innovation, we will continue to pay attention to the common interests and long-term development of platform participants such as merchants and riders, firmly fulfill platform responsibilities, increase investment in science and technology, continue to help the real economy, and make more contributions to the high-quality growth of China’s economy."

Enabling entities and core local businesses to thrive

As a technology retail enterprise, Meituan is continuing to leverage the advantages of rich application scenarios to fully meet user consumption needs through instant retail and high-quality online and offline supply. In 2022, Meituan’s core local business operating profit reached 29.50 billion yuan, an increase of 57% year-on-year.

Among them, the takeaway business insists on pursuing high-quality development, and consumers’ user stickiness has continued to increase in the past few quarters. Driven by this, the peak daily order volume of Meituan catering takeaway in 2022 exceeded 60 million orders.

The instant retail format using digital technology has further stimulated the potential of local consumption. In addition to food and beverage takeaway, the demand for instant retail such as medicines, flowers, daily groceries, branded cosmetics and mobile phones has grown rapidly. In the fourth quarter, the peak daily order volume of Meituan flash sale exceeded 11 million. Instant retail has also driven more local entities to embrace digital business methods. In 2022, there were nearly 300,000 convenience stores and small supermarkets related to instant retail on the Meituan platform, more than twice the number in 2019. The sales volume of merchants increased by more than 400% compared with 2019, and the variety of goods was three times that of 2019.

In terms of store-to-store business, Meituan has a rich and diverse range of life service categories and product matrices, as well as a strong consumer mind. To further stimulate the vitality of local merchants, Meituan has specially launched measures such as merchant traffic support and joint marketing programs, such as providing tailor-made tools for "time-honored" merchants to help them expand customer acquisition channels. In 2022, Meituan’s annual active merchants in stores maintained healthy growth, of which small store merchants increased by nearly 500,000 compared with 2021.

Meituan also gave full play to its supply-side advantages, launching a series of themed activities around key consumption nodes such as New Year’s Eve, New Year’s Day, and Spring Festival, to help local catering entities produce more "food". Taking Changsha as an example, from November 18 to November 30, 2022, Meituan joined tens of thousands of catering merchants to launch special activities to promote consumption and special night snacks, and selected more than 20,000 high-quality winter special packages, which stimulated the consumption vitality of the "night economy". Data show that the number of stores providing night catering services on the platform increased by 20% year-on-year in November.

In terms of new business, the efficiency of commodity retail business has been greatly improved. In 2022, the revenue rose to 59.20 billion yuan, and the quarterly operating loss narrowed by 32% year-on-year to 6.40 billion yuan. Meituan market and Meituan Preferred have ensured the stable supply of users’ daily necessities during the special period, and have also played a positive role in promoting the digital transformation of the agricultural industry.

Take multiple measures to jointly promote consumption recovery

In addition to mining user requests and providing a series of accurate and high-quality marketing activities to greatly boost consumer confidence, Meituan also undertook more than 80 government consumption coupon projects in dozens of provinces and cities such as Beijing, Tianjin, Hubei, and Shenzhen in 2022, and assisted the local government in issuing nearly 1 billion yuan of electronic consumption coupons, covering consumers’ all-round needs for "food, housing, travel, shopping and entertainment". Meituan data shows that among many consumption scenarios, the leverage effect of consumption coupons on in-store catering is the most obvious. During the event, the average daily transaction volume of participating merchants increased by 55% compared with the week before the event, and the average daily transaction volume of small and medium-sized merchants in Tianjin, Wuhan, Enshi, Yinchuan, Foshan and other cities increased by more than 100%.

Instant retail, characterized by minute-to-minute delivery, is a new trend in the retail industry, which makes technological innovation represented by drones expected to become the infrastructure for new business models in modern society. By the end of 2022, Meituan drone has been launched in Shenzhen and Shanghai, with routes covering 18 communities and office buildings, serving nearly 20,000 households. In the two years of normal trial operation, Meituan drone has completed more than 120,000 single delivery tasks, of which more than 100,000 orders will be completed in 2022.

"Meituan’s ability to effectively cope with external challenges and maintain growth momentum in 2022 is due to the strong resilience of the Chinese economy, the industry experience we have accumulated over the years, and the strong execution ability to adjust business strategies in a timely manner," said Chen Shaohui, Meituan CFO. "In the future, we will continue to consolidate the core capabilities of our main business and focus on new areas with growth and long-term returns. At the same time, we will insist on technological innovation to help the deep integration of the digital economy and the real economy, so as to help everyone eat better and live better."

Xiaomi Xiaoai Speaker Pro has a limited-time promotion today： a direct drop of 30 yuan


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Xiaomi’s official direct-operated store has a limited-time promotion today, and the price of Xiaomi Xiaoai Speaker Pro has dropped to 249 yuan. At the same time, you can return 20 quintillion beans to the sun, which is equivalent to only 229 yuan. Old JD.com PLUS members can also receive a 200-10 yuan full-product coupon, which is as low as 219 yuan after stacking (239 yuan actually paid). Xiaoai Speaker Pro adopts a black appearance design, supports stereo combination and nearby wake-up function, adopts 750mL oversized sound cavity, 3…

Literature after 00 ｜ Silent Watch (Novel)

Widowed (dialect, widowed is dumb), this is what the villagers call him. He is a poor old man, an old man who was dumb because he had a fever and took too much bezoar in his childhood, and an old man who only had three or five sheep. Widowed ancestor is what I call him, because he is two generations older than me.
I vaguely remember that I met my widowed ancestors several times during the summer vacation in primary school. I have never forgotten this scene.
When the morning sun climbs to the blue tile on the roof along the earth wall, the sheep are also waiting for their owner, the widowed bodhi old zu. Although it is hot, he always wears a Lei Feng hat that has been blackened by smoke, a black double-breasted cotton coat, a pot helmet in his arms that can never be eaten, and a kettle, leading the sheep to wander along the winding path in the field, hanging on the sheep’s neck all the way. No one knows his age, but everyone knows that his legs and feet are still vigorous, and he walks agile and steady on the almost vertical loess road mixed with gravel, just like the sheep behind him. His destination is the top of the mountain. Because the mountainside is mostly farmland, a yellow mud road is inserted horizontally, and there are still several paths lengthwise, but they are all covered by tall corn stalks. Widowed ancestors can only drive the sheep through this "forbidden land" as soon as possible-destroying crops will lose the "pass" of this land. I finally walked through the fields, and the sun really came out. At this time, the sheep can indulge in grazing, and the widowed ancestor will lean against the shade or chew the helmet with white water or take a nap.
I claim to be a "wild child", and several hills near my home are my playgrounds, so it is inevitable to meet him. When I saw those sheep grazing leisurely, I knew that my widowed bodhi old zu was nearby, but he always seemed to predict my arrival in advance. As soon as I saw it, I wanted to keep me by shouting, with my mouth wide open and my Adam’s apple wriggling sharply, and waved my arms to beckon me over. Then I used his hands as rough as an old walnut shell to hold a full "mountain products"-sweet and sour Schisandra chinensis.
The widowed ancestor is enthusiastic and diligent, and he works hard in the village, whether it’s weddings, funerals, or the anniversary of the burial. He swung his axe like the wind, and every time he fell, he split the firewood properly, and the sawdust scattered. Then, he turned to the triviality of boiling water and shochu; He added fuel to the fire, adjusted the fire, sometimes bowed his head and blew air to make the flames dance, and sometimes gently stirred the soju in the pot, making the water waves slightly overflow, and the fragrance of wine gradually diffused in this leisurely action; With the progress of the banquet, I saw the widowed bodhi old zu holding the tray firmly in his left hand and the dishes lightly in his right hand, with steady steps like flowing water, shuttling between the fire and the guests, and silently conveying his blessings and respect every time he bowed his head and smiled. The figure of the widowed ancestor, shuttling between the boiling of the villagers, is particularly diligent. In the last round of the banquet, he ate with the people who helped cook for his family, mostly the women in the village. A woman often jokes: "Seeing a widowed child is diligent, capable and able to eat. If you find a woman, you should be happy!" When he said this, he gave all the meat on the table to the widowed bodhi old zu. "Just eat, you are afraid that you can’t eat meat a few times a year!" Shame that he turned straight behind, repeatedly motioning with his hand, "ahhh ….." That’s enough.
During the three years since I finished junior high school, the life of my widowed ancestors seems to be so day after day, year after year. Or maybe I studied in the town and went back to my hometown less often and didn’t notice it. Until the spring of the second year of high school, I didn’t hear the long bell ringing on the sheep’s neck in the early morning of my hometown, only the sound of "praising and praising" with a hoe was endless. Later, I learned from my mother that the widowed ancestor had already sold all his sheep. I asked my mother why, and only then did I know that my widowed ancestor was accidentally caught in a wild boar when he was herding sheep in the mountains in the summer years ago. Fortunately, he was found by the villagers in time and was sent to the hospital at the first time without leaving his disability. Although he is not disabled, he can only walk on crutches, and he can’t herd sheep. With the money earned by selling sheep, plus the subsidies for the disabled and the five guarantees, it is said that the widowed ancestors should live a few days at leisure, at least until the injury is almost healed. But he couldn’t spare time, so he opened another piece of land to grow wheat at the vegetable field in front of his house. I walked on crutches, carried benches and hoes to hoe the ground, and when I was tired, I sat down and dug. This is what I witnessed with my own eyes.
Unconsciously, the wheat seedlings have grown to the knee height, and all the trees are full of green, swaying in the wind. Perhaps the widowed ancestor knew that they were growing sturdily, so he did not have to work hard in the fields, and the sound of "boasting and boasting" became more and more sparse, just like those weeds he had dug up; But it’s getting more and more boring, like cicadas in the hot summer.
Until the widowed ancestor did not greet his harvest in the wheat field, until the villagers learned that he had died on his couch for many days.
This wheat field without its owner is still full of vitality.
Wheat seedlings bear the brunt of the wind and rain, bearing ears of wheat, and finally spreading seeds on the land where they were born with the wind.
Source: China Youth Daily client
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