Meituan publishes good growth Q1 results
Meituan published its Q1 results. The company achieved sales of CNY 37.016B (+120.9% YoY), with a loss of CNY 4.846B (+206.90% YoY) during the same period. Thus, excessive growth of the loss can clearly be seen here. Meituan has communicated that the regional e-commerce business has grown enormously due to extensive investment in the first quarter and now covers more than 2,600 cities and counties nationwide. Due to the many competitors in this field, growth is associated with very high investment resulting in negative cash flow.
This briefing is contributed by and first appeared on CIMK.
Source: CIMK
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