Morningstar's Meituan Class B Stock Analysis
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Meituan Class B's Company Profile
Meituan is the largest food delivery service in China, with a 70.7% share of the food delivery market in 2020 per the Chinese government. For the quarter ended Sept. 30, 2021, the firm generated 54.2% of revenue from food delivery services, 17.7% from hotel booking, coupon sales, advertising, and 28.1% from new initiatives. However, in the long term its new initiatives business may transform the company into an all-encompassing grocer and logistics business involving community group buying, nonfood delivery, and online grocery, and overtake food delivery as its main business.
Beijing, 100102, China, People's Republic of