Use your < > keys to browse more stories

Meituan: $66 Million in Sales in June, Profitable by Year’s End

Many people are massively skeptical of Chinese group buy sites – both the sustainability of the industry as a whole, and the veracity of the claims made by individual daily deals companies. To allay those fears, the market leader Meituan is making available available monthly sales stats, despite it being a private company that doesn’t need to make these public. The latest figures for the month of June reveal an ascendent 422 million RMB ($66.39 million) in sales, up from 360 million RMB (US$56.54) in orders in May.

In addition to all that, Meituan’s VP, Wang Huiwen, has said that the site expects to become profitable by the end of the year. That’s quite a claim in such a fragmented market where gross profit margins are so low. Meituan’s margins are, the company claims, between 8 and 10 percent.

Here are Meituan’s monthly (unaudited) sales figures for the whole of this year so far:

[Source: Techweb - article in Chinese]

Facebook Conversation



Did you enjoy this article? Consider becoming a TiA Premium subscriber. At $9.99/month, TiA Premium brings you exclusive access to our weekly newsletter, a one-page roundup of each week’s must-read Asia tech news from all over the web. TiA Premium also brings you exclusive deals and discounts that make your subscription pay for itself. Click here to find out more.