China’s top food delivery firm Meituan’s revenue in line with estimates

Beijing (Reuters) – Meituan’s largest food delivery brand Meituan posted a fourth quarter income that was mainly in line with the grades of slow Chinese consumption.

During the three months of December, Male’s revenues reached $ 88.5 billion ($ 12.21 billion), assessments of the same analysts, 87.7 billion yuan, according to LSEG data.

Meituan, whose appendix offers a wide range of services, including bicycle exchange, ticket booking and maps, reports 337.59 billion yuan, reaching 276.75 billion yuan in 2023.

In 12 months, its net profit reached 35.81 billion yuan compared to the profit of 13.86 billion yuan compared to the previous year.

“… We will expand our investments to reduce technology and relevant programs such as AI.

Drones and autonomous delivery Vehicles, “the company said in his financial report.

Low and discounted products have focused on both conscious buyers and platforms that benefit Meituan because it delivers such products for small rent.

But the competition in the field is getting stronger. In February, the Giant e-commerce JD.com announced that it turned into a food delivery business, and full-time food shipping cyclists will start in the last month of the month.

Meituan quickly followed the claim, announcing social security benefits to its full-time and stable mass riders from the second quarter of 2025.

“As the head of the industry, we are also devoted to our social duties, creating employment opportunities, improving the courier,” Mindsan said in a statement of earnings.

($ 1 = 7.2496 Chinese Yuan Renminbi)

(Reports Sophie Yu, Brenda Satisfied; Editing Muralikumar Anantharaman, Tomasz Janowski and Kate Mayberry)