As for the reasons for the performance growth, meituan said that in the third quarter of 2020, thanks to the effective containment of the new crown epidemic and the acceleration of Chinas economic recovery, the companys business continued to recover steadily, and all business divisions achieved positive growth.
In terms of business, in the third quarter of 2020, the transaction amount of meituans catering delivery business was 152.2 billion yuan, an increase of 36.0% year-on-year; the daily average number of catering takeout transactions was 34.9 million, with a year-on-year increase of 30.1%.
Meituan said that summer is usually the peak season for catering takeout business, and the company and businesses have carried out a number of summer promotion activities during this period to promote the growth of consumer flow and order volume.
In terms of hotel business, in the third quarter of 2020, meituans revenue from store, hotel and tourism business was RMB 6.5 billion, with a year-on-year increase of 4.8%; the operating profit increased from RMB 2.3 billion in the third quarter of 2019 to RMB 2.8 billion in the third quarter of 2020.
The company said that thanks to the effective control measures against the epidemic situation in China and the strong demand for tourism in summer, the recovery of cross city tourism and business tourism was good compared with the past few quarters, so the business volume and amount of hotel business increased.