Meituan
HKEX:3690
Income Statement
Earnings Waterfall
Meituan
Revenue
|
263.2B
CNY
|
Cost of Revenue
|
-174B
CNY
|
Gross Profit
|
89.1B
CNY
|
Operating Expenses
|
-80B
CNY
|
Operating Income
|
9.1B
CNY
|
Other Expenses
|
1.4B
CNY
|
Net Income
|
10.6B
CNY
|
Income Statement
Meituan
Jun-2018 | Sep-2018 | Dec-2018 | Mar-2019 | Jun-2019 | Sep-2019 | Dec-2019 | Mar-2020 | Jun-2020 | Sep-2020 | Dec-2020 | Mar-2021 | Jun-2021 | Sep-2021 | Dec-2021 | Mar-2022 | Jun-2022 | Sep-2022 | Dec-2022 | Mar-2023 | Jun-2023 | Sep-2023 | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue | |||||||||||||||||||||||
Revenue |
46 497
N/A
|
65 573
+41%
|
65 227
-1%
|
73 126
+12%
|
80 756
+10%
|
89 174
+10%
|
97 529
+9%
|
95 109
-2%
|
97 128
+2%
|
105 035
+8%
|
114 795
+9%
|
135 057
+18%
|
154 094
+14%
|
167 522
+9%
|
179 128
+7%
|
188 380
+5%
|
195 559
+4%
|
209 349
+7%
|
219 955
+5%
|
232 303
+6%
|
249 330
+7%
|
263 178
+6%
|
|
Gross Profit | |||||||||||||||||||||||
Cost of Revenue |
(33 660)
|
(48 165)
|
(50 122)
|
(56 163)
|
(58 694)
|
(62 090)
|
(65 208)
|
(62 661)
|
(64 045)
|
(70 722)
|
(80 744)
|
(99 003)
|
(114 102)
|
(127 575)
|
(136 654)
|
(142 366)
|
(146 484)
|
(152 547)
|
(158 202)
|
(161 474)
|
(168 677)
|
(174 048)
|
|
Gross Profit |
12 838
N/A
|
17 409
+36%
|
15 105
-13%
|
16 962
+12%
|
22 062
+30%
|
27 083
+23%
|
32 320
+19%
|
32 447
+0%
|
33 081
+2%
|
34 312
+4%
|
34 050
-1%
|
36 054
+6%
|
39 992
+11%
|
39 947
0%
|
42 474
+6%
|
46 014
+8%
|
49 075
+7%
|
56 802
+16%
|
61 753
+9%
|
70 829
+15%
|
80 653
+14%
|
89 130
+11%
|
|
Operating Income | |||||||||||||||||||||||
Operating Expenses |
(21 023)
|
(28 704)
|
(28 582)
|
(29 833)
|
(29 791)
|
(30 308)
|
(30 974)
|
(28 763)
|
(29 099)
|
(30 650)
|
(36 095)
|
(40 085)
|
(49 210)
|
(56 645)
|
(64 681)
|
(66 042)
|
(65 941)
|
(65 884)
|
(68 102)
|
(68 876)
|
(73 745)
|
(79 993)
|
|
Selling, General & Administrative |
(16 363)
|
(22 307)
|
(20 703)
|
(22 970)
|
(23 293)
|
(24 020)
|
(21 444)
|
(22 709)
|
(22 852)
|
(23 432)
|
(24 984)
|
(31 151)
|
(38 723)
|
(45 247)
|
(47 370)
|
(51 770)
|
(50 358)
|
(49 975)
|
(47 495)
|
(50 528)
|
(55 730)
|
(61 781)
|
|
Research & Development |
(5 263)
|
(7 266)
|
(7 031)
|
(7 725)
|
(8 053)
|
(8 187)
|
(8 208)
|
(8 705)
|
(9 050)
|
(9 883)
|
(10 584)
|
(12 073)
|
(13 597)
|
(15 343)
|
(16 239)
|
(18 078)
|
(19 381)
|
(20 079)
|
(20 108)
|
(20 908)
|
(21 111)
|
(21 018)
|
|
Depreciation & Amortization |
0
|
0
|
(1 041)
|
0
|
0
|
0
|
(1 952)
|
0
|
0
|
0
|
(1 801)
|
0
|
0
|
0
|
(2 362)
|
0
|
0
|
0
|
(2 654)
|
0
|
0
|
0
|
|
Other Operating Expenses |
603
|
869
|
194
|
863
|
1 556
|
1 901
|
630
|
2 651
|
2 803
|
2 664
|
1 274
|
3 139
|
3 110
|
3 946
|
1 290
|
3 808
|
3 799
|
4 170
|
2 154
|
2 560
|
3 098
|
2 808
|
|
Operating Income |
(8 186)
N/A
|
(11 296)
-38%
|
(13 477)
-19%
|
(12 871)
+4%
|
(7 729)
+40%
|
(3 224)
+58%
|
1 347
N/A
|
3 685
+174%
|
3 983
+8%
|
3 663
-8%
|
(2 045)
N/A
|
(4 031)
-97%
|
(9 218)
-129%
|
(16 699)
-81%
|
(22 207)
-33%
|
(20 028)
+10%
|
(16 866)
+16%
|
(9 082)
+46%
|
(6 349)
+30%
|
1 954
N/A
|
6 909
+254%
|
9 138
+32%
|
|
Pre-Tax Income | |||||||||||||||||||||||
Interest Income Expense |
1 810
|
1 524
|
2 618
|
1 707
|
593
|
1 057
|
1 944
|
(506)
|
199
|
5 827
|
6 121
|
5 503
|
5 185
|
(637)
|
1 677
|
(552)
|
(1 524)
|
(1 394)
|
(106)
|
769
|
1 779
|
1 978
|
|
Non-Reccuring Items |
0
|
0
|
(6)
|
0
|
(139)
|
(251)
|
(514)
|
(821)
|
(728)
|
(746)
|
386
|
(196)
|
(254)
|
(3 703)
|
(2 986)
|
(3 888)
|
(3 834)
|
(539)
|
(254)
|
(355)
|
(500)
|
(492)
|
|
Total Other Income |
(28 813)
|
(108 569)
|
(104 626)
|
(84 393)
|
(79 756)
|
0
|
(15)
|
0
|
0
|
0
|
(25)
|
0
|
0
|
0
|
(50)
|
0
|
0
|
0
|
(46)
|
0
|
0
|
0
|
|
Pre-Tax Income |
(35 189)
N/A
|
(118 342)
-236%
|
(115 491)
+2%
|
(95 557)
+17%
|
(87 031)
+9%
|
(2 417)
+97%
|
2 762
N/A
|
2 358
-15%
|
3 453
+46%
|
8 743
+153%
|
4 438
-49%
|
1 276
-71%
|
(4 286)
N/A
|
(21 037)
-391%
|
(23 566)
-12%
|
(24 467)
-4%
|
(22 223)
+9%
|
(11 014)
+50%
|
(6 756)
+39%
|
2 370
N/A
|
8 190
+246%
|
10 624
+30%
|
|
Net Income | |||||||||||||||||||||||
Tax Provision |
(142)
|
(286)
|
(2)
|
(303)
|
(237)
|
(220)
|
(526)
|
(268)
|
(29)
|
(332)
|
270
|
165
|
160
|
596
|
30
|
74
|
71
|
73
|
70
|
7
|
(8)
|
(66)
|
|
Income from Continuing Operations |
(35 332)
|
(118 629)
|
(115 493)
|
(95 860)
|
(87 268)
|
(2 638)
|
2 236
|
2 090
|
3 424
|
8 412
|
4 708
|
1 441
|
(4 125)
|
(20 440)
|
(23 536)
|
(24 392)
|
(22 152)
|
(10 941)
|
(6 685)
|
2 375
|
8 180
|
10 556
|
|
Income to Minority Interest |
63
|
65
|
16
|
4
|
(5)
|
(5)
|
3
|
3
|
1
|
0
|
1
|
0
|
(1)
|
(2)
|
(2)
|
(1)
|
0
|
0
|
(1)
|
0
|
(1)
|
(1)
|
|
Net Income (Common) |
(35 270)
N/A
|
(118 565)
-236%
|
(115 477)
+3%
|
(95 858)
+17%
|
(87 275)
+9%
|
(2 645)
+97%
|
2 239
N/A
|
2 092
-7%
|
3 425
+64%
|
8 412
+146%
|
4 708
-44%
|
1 440
-69%
|
(4 127)
N/A
|
(20 444)
-395%
|
(23 538)
-15%
|
(24 393)
-4%
|
(22 153)
+9%
|
(10 942)
+51%
|
(6 686)
+39%
|
2 373
N/A
|
8 178
+245%
|
10 555
+29%
|