Meituan, which is a well-known food delivery platform in China, has shown a rapid growth of 35 per cent that has taken the YOY sales to the level, it helped them to take YOY sales to 300 million. Hence, it does tell the growth they have taken for keep on growing at the very best level. In the fourth quarter, they, Chinese brand Meituan Q4 yoy 300m China, have surpassed the sales projection by 35 percent and taken the sale to 37.9 billion yuan (US$5.8 billion) despite the pandemic has hit the nation most as the virus did start its foundation in China.
The start-up, which has its foundation in Beijing, has broken all the records and managed to become a name that world regards with higher belief. It means they have taken the jump of 8-billion-yuan growth. Last year, it was 28 billion yuan in the same quarter, with taking the 36 billion yuan jump, showing the 8 b growth does talk a lot about Meituan and the power China has in its aim to make the nation digitally sound. Now they have added the digital currency feature on WeChat, which has helped China to become digital and take that creative step which is indeed the need of the hour.
In 2020, the revenue did hit the mega touch of 114.8 billion yuan, which is a lot than 97.5 billion yuan in 2019. Chinese Meituan Q4 300m China. It does show that despite COVID making a huge impact, the nation has taken care of things very well by allowing online sector people to look well and take things to a stable level. In India, COVID did impact major players like Zomato and Swiggy as people stop ordering online food at a large level for a long time. Despite these companies have managed to show growth in China does talk a lot about Meituan and the plannings they have. The net profit of company has taken a mega jump from 2.2 billion yuan to 4.7 billion, which shows the growth of 100 per cent.
The company is happy with growth and stating: “Inspite of our considerable expenditures in various new segments limiting our overall profitability in 2020, these new ventures are providing greater value to consumers, business partners, merchants and the diverse society at large.”
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The COVID pandemic hit the online food market in a huge manner. Despite Meituan has shown growth, one thing is clear that they could have done even better had there was no COVID impact. The company’s stoke is even at all time high, which is a major plus to follow and feel special with. Not many players in the market can say and deliver what Meituan has managed to do as it has given them the shape to become even better and look for global expansion, mainly to the cities and nations where online food delivery system is still new and there to take over. This is the power of mega start-ups and how they do create a great system to develop.