Meituan's net profit in the second quarter increased by 77% to USD 150 million per day, with an expected peak of over 100 million orders for food delivery next year

On August 28, Meituan released its second quarter and half-year performance report for 2024. In the second quarter of this year, Meituan achieved a revenue of 82.3 billion yuan, a year-on-year increase of 21%, with an adjusted net profit of 13.6 billion yuan, a year-on-year increase of 77.6%; the revenue for the first half of the year was 155.527 billion yuan, a year-on-year increase of 22.9%, with an adjusted net profit of 21.1 billion yuan, a year-on-year increase of 60.4%. Based on the 13.6 billion yuan profit in the second quarter, Meituan earned an average of 1.49 billion yuan per day in the second quarter of this year. Meituan's ongoing organizational restructuring has attracted external attention, with CEO Wang Xing mentioning in the financial report that "the recent organizational restructuring is not only to integrate instant delivery with in-store, hotel, and tourism businesses, but also to better meet consumer demand with the platform's supply." On the same day, Meituan announced on the Hong Kong Stock Exchange that it will occasionally repurchase Class B ordinary shares of the company for a total amount not exceeding $1 billion in the open market