Financial News
Author: Xiaofei
2020-08-23 11:00
Last update date: 2020-08-23 11:00"The country puts the people first, and the people put food as the heaven." Last week, the share price of food delivery giant Meituan Dianping (3690) broke the top and its market value exceeded 1.4 trillion yuan, surpassing China Mobile (0941) for the first time and becoming China's largest consumer stock. Although Meituan became a big hit on the Hang Seng Index, it became the third place in Hong Kong stocks, realizing ATM dominance in Hong Kong stocks.
Although Meituan’s second-quarter figures are not impeccable, it can be said to exceed market expectations, because Meituan is one of the biggest beneficiaries of the epidemic, and its food delivery business achieved a profit of 1.25 billion yuan in the second quarter.
Sending 100 million a day is not a dream
Meituan set a record of 40 million takeout orders in August, further moving towards the goal of chairman Wang Xing to send 100 million takeout orders a day by 2025. Meituan currently has 3 million takeaway riders, which is roughly the total labor force of Hong Kong. It is believed to be the largest takeaway fleet in the world, working in more than 2,800 cities in China.
According to Wang Xing, the key to making money this season is because the second season is traditionally the lowest cost season, and because there is ample supply of labor in the market.
Takeaways work freely, and weather changes (such as too hot or too cold) will affect whether they work. However, the home policy of the epidemic makes them choose to work because they do not want to stay at home. In addition, the government has temporary allowances for takeaway companies. The regiment can obtain cheap labor at a low price.
Meituan Dianping data comparison
*Number of season two
Also because of the boring life, many consumers who order takeaway will be more generous and choose higher orders and branded restaurants. This is reflected in the average order consumption of Meituan in the second quarter of 48.8 yuan, which is almost 10% higher than last year. . During the period, the number of new restaurants that Meituan joined has more than doubled.
Distressed life helps Meituan's supply and demand
In the past month, the number of people ordering takeaways in Hong Kong has increased significantly under the ban on night markets in the past month, but the one million yuan question is: Mainland restaurants are reopening one after another. Will domestic takeaways continue to grow at a high rate?
Meituan's answer is to send ingredients. At the analyst's meeting, Meituan management said there are several ways to eat. If people want to have a good meal, they can use the Meituan-Dianping they founded to choose a restaurant, and of course they can also order takeaway. If people choose to cook at home, they can deliver ingredients to their door. This is also the market that Meituan will invest heavily in the future and the future growth driver.
This may be the reason why Meituan’s share price has risen 1.4 times this year, running Lei’s two big brothers, Tencent (0700) and Alibaba (9988). At least the Sino-US war has neither affected Meituan’s business nor will it be sanctioned. Food has always been the most basic and most important need of the Chinese.
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