CNBC AI News – In a rather subdued affair, Meituan held its annual shareholder meeting yesterday at its Beijing headquarters.
The meeting saw the attendance of top-level executives, including CEO Wang Xing, Senior Vice President Murong Jun, Senior Vice President and CFO Chen Shaohui, and Vice President Xu Sijia.
Reports from attendees suggest a structured presentation, with executives primarily reading from prepared scripts during the Q&A session, offering minimal new information.
Questions addressed by Wang Xing, Murong Jun, and Chen Shaohui spanned a range of topics, including competition with JD.com, the growth of the “flash sale” service, technological advancements, overseas expansion with Keeta, and social security for delivery personnel.
Following the formal meeting, Wang Xing, Murong Jun, and Chen Shaohui departed, leaving Vice President Xu Sijia to address shareholders, who expressed frustration. Frustrations included comments like: “It feels like a press conference every time!” and “This is a shareholder meeting, and shareholders can’t even ask questions!”
In response, Xu Sijia facilitated a subsequent half-hour, small-group discussion to address further shareholder concerns.
According to reports from the smaller gathering, one shareholder stated: “I’ve already said what I needed to say. This is a shareholder meeting, not a press conference. I hope we can improve this going forward.”
It’s worth noting that Meituan’s Q1 2025 results, released on May 26th, were strong. The company reported a revenue of 86.6 billion yuan, a year-over-year increase of 18.1%. Adjusted EBITDA reached 12.302 billion yuan, up 52.4%, and adjusted net profit was 10.949 billion yuan, reflecting a 46.2% increase.
The financial report indicated that Meituan generated 10.1 billion yuan in operating cash flow during the first quarter. As of the end of Q1, the company held 115 billion yuan in cash and cash equivalents, and 65.4 billion yuan in short-term financial investments.
Breaking down the figures by segment, Meituan’s core local commerce division achieved 64.3 billion yuan in revenue, up 17.8% year-over-year, with an operating profit of 13.5 billion yuan, marking a 39.1% increase. The segment’s operating profit margin improved by 3.2 percentage points to 21%.
Meanwhile, the new initiatives segment generated 22.2 billion yuan in revenue, representing a 19.2% increase. While still operating at a loss, the segment’s operating loss narrowed by 17.5% to 2.3 billion yuan, and the operating loss margin improved by 4.6 percentage points to 10.2%.
Focusing on key areas, Meituan’s delivery services generated 25.723 billion yuan in revenue, a 22.1% increase.
Commission income totalled 25.207 billion yuan, up 22.0%. Online marketing services revenue reached 11.947 billion yuan, up 15.0%, and other services and sales (including interest income) generated 23.68 billion yuan, reflecting an 11.9% increase.
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