$Meituan-W(03690.HK)'s share price rises 13% at $152.60 this morning, after the company posted lower-than-expected non-IFRS adjusted net loss for 4Q21.
Meituan's fourth-quarter revenue rose 31% from a year earlier on the back of significant new business sales and stable food-delivery growth.
Meituan, which is China's third-most valuable internet company, posted revenue of 49.52 billion yuan, equivalent to $7.78 billion, thanks to a 21% rise in its food-delivery business, its main source of income. An extra boost came from a 59% jump in revenue from new businesses, including grocery delivery and group-buying offerings.
Quarterly loss swelled to 5.34 billion yuan from a loss of 2.24 billion yuan a year earlier, as Meituan invested in initiatives including its community e-commerce unit Meituan Select and Kuailv Jinhuo, a B2B unit delivering fresh food to restaurants.
