美团公告，截至2025年3月31日止三个月的收入为865.5亿元，同比增长18.1%。期内溢利为100亿元，同 比增长87.3%。经调整EBITDA为123亿元，同比增长52.4%。 ...

Financial Performance - The company's revenue for the first quarter of 2025 increased by 18.1% year-on-year to RMB 86.56 billion, compared to RMB 73.28 billion in the same period of 2024[10]. - Operating profit for the core local business segment reached RMB 13.49 billion, a 39.1% increase from RMB 9.7 billion in the previous year, with an operating margin improvement of 3.2 percentage points to 21.0%[11]. - Adjusted EBITDA for the first quarter was RMB 12.30 billion, reflecting a year-on-year growth of 52.4% from RMB 8.07 billion[6]. - The company achieved a net profit of RMB 10.06 billion, up 87.3% from RMB 5.37 billion in the same quarter last year[6]. - The adjusted net profit for the first quarter was RMB 10.95 billion, a 46.2% increase from RMB 7.49 billion in the previous year[6]. - The company reported a gross profit of RMB 32.4 billion in Q1 2025, up from RMB 25.7 billion in Q1 2024, reflecting a significant increase in profitability[21]. - Operating profit for Q1 2025 was RMB 10.6 billion, compared to RMB 5.2 billion in the same period last year, indicating strong operational performance[21]. - The net profit for Q1 2025 was RMB 10.1 billion, compared to RMB 5.4 billion in Q1 2024[39]. - Revenue for the three months ended March 31, 2025, was RMB 86,557,126 thousand, representing a 18.1% increase from RMB 73,275,884 thousand for the same period in 2024[69]. - Gross profit for the same period was RMB 32,413,689 thousand, up 26.2% from RMB 25,696,740 thousand year-over-year[69]. - Operating profit increased to RMB 10,566,110 thousand, a significant rise of 102.6% compared to RMB 5,209,392 thousand in the previous year[69]. - Net profit for the period was RMB 10,056,880 thousand, compared to RMB 5,368,979 thousand in the same quarter of 2024, marking an 87.5% increase[69]. Revenue Growth - Total revenue grew by 18.1% from RMB 73.3 billion in Q1 2024 to RMB 86.6 billion in Q1 2025, with both reporting segments showing revenue growth[22]. - The delivery service revenue grew by 22.1% year-on-year, while commission revenue increased by 20.1%[9]. - The revenue of the core local business segment increased by 17.8% from RMB 54.6 billion in Q1 2024 to RMB 64.3 billion in Q1 2025[25]. - In Q1 2025, the new business segment revenue increased by 19.2% year-on-year to RMB 22.2 billion, with operating losses narrowing by 17.5% to RMB 2.3 billion, improving the operating loss margin by 4.6 percentage points to 10.2%[18]. - Total revenue for Q1 2025 reached RMB 86.6 billion, with a significant contribution from other services and sales, which amounted to RMB 23.7 billion[24]. Expenses and Costs - Sales costs increased by 13.8% from RMB 47.6 billion in Q1 2024 to RMB 54.1 billion in Q1 2025, while the percentage of sales costs to revenue decreased from 64.9% to 62.6%[26]. - R&D expenses rose by 15.4% to RMB 5.8 billion in Q1 2025, reflecting increased investment in AI[29]. - Research and development expenses increased by 6.5% from RMB 5.42 billion in Q4 2024 to RMB 5.77 billion in Q1 2025, representing 6.7% of revenue[48]. - Sales and marketing expenses decreased by 10.1% from RMB 17.3 billion in Q4 2024 to RMB 15.55 billion in Q1 2025, accounting for 18.0% of revenue[47]. Cash Flow and Financial Position - Cash and cash equivalents, along with short-term investments, totaled RMB 115 billion and RMB 65.4 billion, respectively, as of March 31, 2025[10]. - Net cash flow from operating activities for Q1 2025 was RMB 10.1 billion, attributed to pre-tax profit adjustments and changes in working capital[65]. - Net cash flow from investing activities for Q1 2025 was RMB 34.8 billion, primarily from net inflows of financial investments[66]. - Net cash flow used in financing activities for Q1 2025 was RMB 506.5 million, mainly due to lease liability payments[67]. - The capital-to-debt ratio as of March 31, 2025, was approximately 30%, calculated as total borrowings and payables divided by total equity attributable to equity holders[68]. - Total assets as of March 31, 2025, were RMB 333,931,974 thousand, up from RMB 324,354,917 thousand at the end of 2024[70]. - Cash and cash equivalents increased to RMB 115,015,460 thousand from RMB 70,834,097 thousand, reflecting a growth of 62.5%[70]. - Total liabilities decreased to RMB 149,795,988 thousand from RMB 151,750,839 thousand, indicating a reduction of 1.3%[71]. Business Strategy and Development - The company plans to invest RMB 100 billion over the next three years to promote high-quality development in the industry[12]. - The company is committed to expanding support measures for merchants and optimizing the online operating environment to foster innovation and growth[19]. - The company aims to enhance user experience and operational efficiency through AI technology, responding to national strategies to boost consumption and expand domestic demand[19]. - The company is focused on expanding its market presence and enhancing its service offerings through new strategies and technologies[80]. - The company plans to continue developing new products and technologies to drive future growth[80]. Corporate Governance and Compliance - The company has adopted the principles and code provisions of the corporate governance code, ensuring effective internal controls and transparency[75]. - The board of directors includes executive directors Wang Xing and Mu Rongjun, and independent non-executive directors[80]. - The financial information presented is based on unaudited management accounts and includes forward-looking statements related to business outlook and financial performance forecasts[80]. - The company emphasizes that forward-looking statements are subject to various risks and uncertainties, and should not be overly relied upon by investors[80]. Market and Consumer Engagement - The company launched the "Meituan Membership" program in March 2025, covering all business categories and enhancing consumer engagement through differentiated benefits[17]. - The hotel and travel business upgraded member benefits, including room upgrades and free breakfast, enhancing brand recognition and cross-selling opportunities[16]. - The number of "Meituan Lightning Warehouses" and their order share continued to rise, particularly in lower-tier markets, supporting the growth of instant retail[14]. - The company has received positive feedback for its overseas business, particularly for the Keeta platform in Saudi Arabia, which is rapidly gaining popularity[18]. Impairment and Other Financial Metrics - The company reported a decrease in impairment losses on financial and contract assets from RMB 1.75 billion in Q1 2024 to RMB 1.22 billion in Q1 2025[31]. - The company’s other income remained stable at RMB 1.4 billion in Q1 2025[33]. - Other income turned from a loss of RMB 933.3 million in Q4 2024 to a gain of RMB 1.42 billion in Q1 2025, mainly due to fluctuations in unrealized foreign exchange gains/losses[52]. - The fair value change of other financial investments increased from RMB 12.8 million in Q4 2024 to RMB 804.8 million in Q1 2025, reflecting fluctuations in the investment portfolio[51]. - The profit attributable to equity method investments decreased from RMB 316.5 million in Q4 2024 to RMB 18.5 million in Q1 2025 due to fluctuations in the financial performance of investees[56]. - Income tax expenses decreased from RMB 674.2 million in Q4 2024 to RMB 543.9 million in Q1 2025, primarily based on forecasts of taxable income for several entities[57].

近日，据多家公开消息报道，美团小象超市海外版Keemart已经在沙特首都利雅得启动营业。 「出海参考」从海外职场社交媒体平台观察到，美团海外版Keeta于5月7日上线Keemart。 据我们了解，在谷歌和苹果商店，Keemart配送端应用Keemart Courier已经上线，但仅限沙特邮箱和手 机号注册；同时，Keemart还开通了供应商服务系统。 小象超市起源于"美团买菜"，是美团自营的零售业务，采用前置仓运营模式，通过在社区周边设立小型 仓库，实现商品的快速分拣和配送，瞄准的是全品类即时零售市场。 这一模式与美团外卖配送网络高度协同，也是小象超市在国内的竞争优势所在。 根据Redseer披露的数据，Keeta仅用4个月便拿下沙特餐饮配送市场10%的份额，进入市场前三。截至目 前，Keeta应用下载排名高于HungerStation、Jahez等本土头部外卖平台。 Keeta的发展在某种程度上为带动Keemart在沙特落地奠定了基础。Keemart不仅可以共享Keeta的配送资 源，还可以利用其用户基础降低获客成本并提升用户粘性。 美团创始人兼CEO王兴曾在财报会上表示，从长远来看，美团在海外市场的拓展不 ...

5月26日周一，A股低开，早盘沪指震荡走高，创业板走低，核电、黄金板块活跃，汽车股下跌，港股恒指、恒科指 双双低开，恒科指跌超1%，美团跌超4%，新能源汽车股领跌。债市方面，国债期货小幅走高。核心市场走势： | 代码 | 名称 | 两日图 | 现价 | 涨跌 | 涨跌幅 | | --- | --- | --- | --- | --- | --- | | 000001 | 上证指数 | | 3355.54 | 7.17 | 0.21% | | 399001 | 深证成指 | | 10111.06 | -21.36 | -0.21% | | 399006 | 创业板指 | | 2006.57 | -14.93 | -0.74% | | 000300 | 沪深300 | | 3874.71 | -7.56 | -0.19% | | 000016 | FiF50 | | 2712.07 | 0.22 | 0.01% | | 000680 | 科创综指 | | 1156.37 | 1.15 | 0.10% | | 000688 | 科创20 | | 981.18 | 0.61 | 0.06% | | 899050 | ...

美团低开低走，一度跌超5%。 ...

每经记者｜赵雯琪 每经实习编辑｜余婷婷 |2025年5月19日—5月25日| #电商新零售 NO.1 抖音规范"街拍街访"类内容管理 5月24日，抖音发布关于规范"街拍街访"类内容管理的公告。公告称，有极少数账号以"搭讪""撩妹""街 拍"为名，未经他人同意，对其进行语言、肢体骚扰，发布传播可能侵犯他人肖像权、隐私权的内容。 上述言行，试图传播不良价值导向，扰乱公共秩序。 对于相关违法违规言行，抖音平台贯彻落实"清朗·整治短视频领域恶意营销乱象"专项相关工作要求， 予以持续打击和严格治理。情节严重者，平台将向公安机关报案。 点评：抖音规范"街拍街访"类内容，是维护平台生态之举。在行业竞争激烈的当下，各平台都在争夺优 质内容与用户。此类乱象不仅损害用户权益，也破坏平台形象。抖音此举能提升平台内容质量与口碑， 吸引更多追求健康内容的用户。 5月20日晚，美图公司发布公告，宣布与阿里巴巴签署2.5亿美元可转债协议，双方将在电商平台、AI技 术、云计算等领域展开战略合作。公告显示，阿里巴巴以可转债的形式投资美图，本金总额为2.5亿美 元，为期3年，年利率为1%。阿里巴巴可在发行日起至到期日前5个工作日行使转换权，按每 ...

见闻财经日历 WSCN Economic Calendar | 时间 | 地区 | 内容 | | --- | --- | --- | | 5月26日 | 周一 | | | 事件 | 運み | 2:40 美联储主席鲍威尔在普林斯顿: 业致辞 | | | | 21:00 欧洲央行行长拉加德 | | 财报 | 国内 | 美闭 | | 5月27日 | 周二 | | | 数据 | 国内 | 9:30 中国4月规模以上工业1 | | | 運み | 20:30 美国4月耐用品订单 | | | | ついつい 羊田４日 日帰 年 年 年 年 年 | 分析认为，特朗普政府将关税谈判视为向竞争对手施压、迫使其做出让步的手段，而欧盟则表现得像是在与盟友打交道，一直在遵循全球贸易的既定规则与 美国谈判，这是谈判进展缓慢的主要原因。然而，如果拖到6月1日，50%的关税真的生效并持续下去，这对欧盟来说将是毁灭性的打击。 中国5月PMI 周六（5月31日），国家统计局公布中国5月官方制造业、非制造业和综合PMI数据。 | | | 20.00 天座4月1日休 VIJAF-90JJJ4 | | --- | --- | --- | | 财报 | ...

智通财经APP获悉，5月23日港股市场，北水成交净卖出11.39亿港元，其中港股通(沪)成交净买入16.94 亿港元，港股通(深)成交净卖出28.33亿港元。 北水净买入最多的个股是美团-W(03690)、建设银行(00939)、信达生物(01801)。北水净卖出最多的个股 是盈富基金(02800)、腾讯(00700)、小米集团-W(01810)。 | 股票名称 | 买入额 | 卖出额 | 买卖总额 | | --- | --- | --- | --- | | | | | 净流入 | | 小米集团-W | 17.17 亿 | 20.29 亿 | 37.46亿 | | HK 01810 | | | -3.11 乙 | | 腾讯控股 | 10.58 乙 | 16.60亿 | 27.18亿 | | HK 00700 | | | -6.02 7- | | 建设银行 | 14.02亿 | 7.79亿 | 21.82亿 | | HK 00939 | | | +6.23 Z | | 美团-W | 13.72 乙 | 7.77亿 | 21.49亿 | | HK 03690 | | | +5.96亿 | | 阿里巴巴-W | 1 ...

港股科网股走高，哔哩哔哩(09626.HK)涨超5%，网易(09999.HK)、百度(09888.HK)涨1.8%，美团 (03690.HK)涨超1%。 ...

而早在一年前，Keeta就登上了香港外卖市场的头把交椅，彼时市占率已经达到43%。这个时候乘胜扩 张，也更加顺其自然。 在Deliveroo退出香港市场前，三个平台一同接单是大部分香港餐饮商家的常态。 当然，每一个地区都是一个迥异的市场，包括当地的外卖消费习惯、价格敏感度、对外资平台的接受度 等， 美团从香港市场提炼的方法论能有多少复制到其他地区还有待验证。以及，Deliveroo退出香港后 被美国外卖平台DoorDash收购，意味着全球外卖市场正在进一步整合。长远来看，美团未来的出海面 临的可能是更强劲的对手。 文 | 窄播，作者 | Nancy、Tuna 应对国内外卖竞争之余，美团外卖在海外也迎来了新节点。 上周，美团宣布未来几个月将正式把海外版外卖平台Keeta引入巴西，并在未来5年内在巴西投资10亿美 元来支持该项目。据雷锋网，Keeta负责人仇广宇还从沙特转移到巴西办公。美团外卖出海继香港、沙 特之后的第三站，就要启动。 Keeta加速扩张此前已有迹象。去年9月上线沙特首站后，Keeta进入了多个核心城市，有报道称其在沙 特已经做到20%的市场份额，计划今年底覆盖所有核心城市，并在未来三年内将当地经 ...