How did Meituan perform in Q1?

Meituan reports Q1 revenue up 25% YoY to $6.9B and a net loss up 18% YoY to ~$855M, after a 47% YoY increase in revenue from new businesses such as ride-hailing — Meituan's quarterly revenue grew 25%, after the Chinese food delivery titan withstood the economic fallout from coronavirus-related lockdowns in cities such as Shanghai.

Why did Meituan's quarterly revenue grow 25%?

Meituan ’s quarterly revenue grew 25%, after the Chinese food delivery titan withstood the economic fallout from coronavirus-related lockdowns in cities such as Shanghai.

Does Meituan have a food delivery business?

Meituan, China's leading e-commerce services platform, announced on Thursday its unaudited consolidated results for the three months ended March 31, 2022. Chinese e-commerce company JD.com will attempt to develop a food delivery business. Under the arrangement, merchants will operate through the JD Daojia app.

How many users does Meituan have?

Meituan has 690.5 million Annual Transacting Users and 8.8 million Annual Active Merchants as of December 31, 2021. The Company operates in over 2,800 cities and counties in China. This press release contains forward-looking statements relating to the business outlook, forecast business plans and growth strategies of the Company.