Beijing (Reuters) -The largest food delivery company Meituan on Friday announced revenue in the fourth quarter, which was largely in accordance with estimates, due to spores of Chinese consumption.
Meituan’s revenue reached 88.5 billion Juan ($ 12.21 billion) in three months that ended in December, just above an estimate of analysts of 87.7 billion Juan, according to LSEG data.
Meituan, whose application offers a wide range of services, including bicycle sharing, tickets and tickets, reported a revenue of 337.59 billion Juan for a year, compared to 276.75 billion Juan in 2023.
His net profit for a period of 12 months reached 35.81 billion Juan, compared to a profit of 13.86 billion Juan a year before.
“… we will expand our investments in top technology and relevant apps, such as AI,
Networked Air Shipping and Autonomous Delivery Vehicles, “the financial report said.
Low prices and discount products have become a focus for both customers and platforms of conscious price, which used Meituan because it brings such goods at a small fee.
But competition in this sector is intensified. In February, the gigant of e-commerce JD.com announced that he was embarking on food delivery, and later in the month he said that from March 1, he would begin to provide contributions to the delivery of food with full hours from March 1 within the Chinese Social Insurance System.
Meituan quickly followed the lawsuit, announcing plans for the Social Security fee with their full and stable drivers with short -time work, from the second quarter of 2025.
“As a leader in the industry, we are also dedicated to fulfilling our social responsibilities by creating employment opportunities, improving the benefits of couriers,” Meituan said in a earnings report.
($ 1 = 7,2496 Chinese Yuan Renminbi)
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