That said, this evening, Meituan announced the fourth quarter and full year of last year's financial report. The eighth sister looked at it, and this financial report showed that the resilience of the US group was still quite good, especially in the fourth quarter when the major head Internet companies were dismal.
However, The eighth sister also noticed that the US group still has a relatively large loss, and the net loss in the entire 2021 is as high as 23.5 billion. In addition to the huge investment in new business, the revenue and cost of "catering takeaway delivery service" disclosed by Meituan for the first time also show that the pressure on the cost end of Meituan is still quite huge, and throughout the year, the takeaway service revenue is not enough to cover the cost of rider delivery.
Well, no nonsense, let's talk in detail about this financial report of the US group.
1, Meituan's revenue in 2021 still maintains rapid growth.
According to the financial report, in 2021, Meituan's annual revenue was 179.1 billion yuan, an increase of 56% year-on-year, and this growth rate is also quite eye-catching among all Internet head companies.
Specific to the fourth quarter of 2021, the company's fourth-quarter revenue was 49.5 billion yuan, an estimated 49.32 billion yuan, an increase of 30.6% year-on-year. Compared with the previous quarters, the growth rate of the US group has slowed down, on the one hand, because the overall environment is not good, on the other hand, because the previous quarters have just encountered the 2020 epidemic control period, and the year-on-year growth rate has risen sharply. But overall, the growth rate of the US group is still quite good.
2, the growth of the key indicators of the US group is still good.
The financial report shows that the user scale and viscosity of the Meituan platform are still growing. According to the financial report, as of the end of 2021, the number of Meituan trading users was 690 million, an increase of 35.2% year-on-year; the number of active merchants was 8.8 million, an increase of 29.2% year-on-year. The average annual number of transactions per trading user increased by 27.2%.
In 2021, the transaction amount of Meituan's catering takeaway transaction was 702.057 billion yuan, an increase of 43.6% year-on-year; the number of takeaway transactions was 14.368 billion yuan, an increase of 41.6% year-on-year; and the number of domestic hotel room nights was 477 million, an increase of 34.5% year-on-year.
3, Meituan in 2021 has a large-scale loss.
Compared with the profit in 2020, in 2021, the US group has re-emerged a scale loss. According to the financial report, in 2021, Meituan's annual net loss was 23.5 billion yuan, compared with a profit of 4.71 billion yuan in the same period last year; the adjusted net loss for the whole year of 2021 was 15.6 billion yuan, compared with a profit of 3.12 billion yuan in the same period last year.
Meituan also lost money in the fourth quarter. According to the financial report, Meituan's net loss in the fourth quarter was 5.339 billion yuan, a loss of 137.9% year-on-year; the adjusted net loss in the fourth quarter was 3.936 billion yuan, a loss of 174% year-on-year.
4, Meituan disclosed the revenue and cost of catering takeaway delivery for the first time, and a single still lost 1.5 yuan.
In May 2021, Meituan launched a new rate policy, which divides the fees charged to merchants into technical service fees (i.e. commission income) and catering takeaway delivery service fees. In simple terms, merchants can see more clearly how much the delivery fee paid to the rider for each takeaway is, and how much the platform service fee paid to Meituan is, which is more transparent. In this earnings report, Meituan also separately disclosed the income of catering takeaway delivery services for the first time to reflect the new rate policy.
According to the figures disclosed in the financial report, in 2021, Meituan's revenue in catering takeaway delivery services was 54.2 billion yuan, while the cost of this part was as high as 68.2 billion yuan, with an average loss of 1 yuan per takeaway order. Orders organized by Meituan and providing delivery services accounted for 67% of the total number of takeaway orders, according to this calculation, Meituan lost 1.5 yuan per takeaway delivery order. That is to say, the takeaway delivery carried out by the US group itself, the hard cost of the rider is too high, and the US group itself has to subsidize a lot of money.
So, what is the average service fee paid by merchants to the riders per order and the commission to the Meituan? According to the calculation, in 2021, the transaction amount of Meituan Catering is 48.9 yuan, of which the delivery fee that needs to be paid is 4.75 yuan, and the service fee paid to the platform is 1.99 yuan. And the research and development cost of technical services is also very high. According to the financial report, Meituan's research and development expenditure in 2021 reached 16.7 billion yuan, an increase of 53% year-on-year.
From the perspective of making money, the US group is also bitter enough haha, and the operating profit of each takeaway order is only 0.43 yuan.
Therefore, the eighth sister feels that it is still quite difficult for Meituan to compress the cost of catering takeaways.
5, Meituan still lays out the core capacity building of investment in new business, which is also the main reason for its loss.
According to the financial report, for the full year of 2021, the revenue of the company's new business and other segments increased by 84.4% year-on-year to RMB50.3 billion. Specific to the fourth quarter, revenue from Meituan's new business and other segments increased by 58.7% year-on-year to RMB14.7 billion. It's all very bright growth.
At the same time, fast-growing new businesses have also brought losses. According to the financial report, the operating loss of new business and other segments expanded from RMB10.9 billion in 2020 to RMB38.4 billion in 2021, with the operating loss ratio widening by 36.6 percentage points year-on-year.
Meituan said that in 2021, its strategy was upgraded to "retail + technology", and continued to expand investment in new business, especially commodity retail.
According to the financial report, these new businesses mainly include Meituan Preferred, Meituan Flash Purchase and Meituan Buy. Among them, the "next-day pick-up" three-level warehouse distribution logistics network system that Meituan preferentially built has now covered most communities and rural areas in 30 provinces across the country; the single-day order volume peak of Meituan Flash Sale in December 2021 exceeded 6.3 million; and the scale and transaction amount of Meituan's users continued to increase.
Well, the meituan's earnings report is here. All in all, the growth of the US group is still very impressive. At the same time, the cost pressure of the US group is still considerable. And Meituan is still insisting on investing in the future, investing heavily in new businesses, and these businesses are also some difficult jobs. Anyway, it seems that the business of Meituan Company is still quite bitter and heavy, you say no?