Evening of May 25th，Meituan-Dianping announces first quarter results of 2020。Affected by the new coronavirus pneumonia epidemic that broke out since late January this year，The local life service industry in which Meituan is located has encountered severe challenges on both the demand side and the supply side，The company’s operating income in the first quarter decreased by 12% year-on-year.6% to 16.8 billion yuan (RMB，The same below)，Operating loss is 1.7 billion yuan。But the epidemic has also promoted the onlineization of the industry，Accelerating the digitalization process of local life service merchants，Further strengthened the company’s determination to invest in the future。

This quarter，Meituan is under pressure in its own operations，Actively leverage the advantages of the platform，Becoming the “new infrastructure” of Chinese national life during the epidemic，Drive 4.The average number of annual transactions per capita of 500 million transaction users further increased to 26.2 strokes；On the merchant side，Meituan is fully committed to helping merchants and partners solve their problems，Launched a number of measures to help resume work and production。At the same time，Since late January，188bet app download Meituan has provided more than 1 million new jobs for riders and created income for them，Become a "reservoir" to stabilize employment。

“The COVID-19 epidemic has brought an inevitable impact to the life service industry。Facing the challenge，We choose to tide over the difficulties together with the merchants，Launched ‘Operation Spring Breeze’ to help merchants resume work and production，Unite local governments to promote consumption recovery”，Meituan CEO Wang Xing said，“The epidemic also allows online services、Online operations are more widely accepted and used by consumers and merchants，The areas we have been paying attention to and exploring for a long time also burst out with new vitality during this period，I believe these will greatly accelerate the process of supply-side digitalization，Bring new growth momentum。Future，We will focus on new infrastructure in the life service industry，Comprehensively assist merchants in digital upgrade。”

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Affected by the epidemic，Meituan’s two main businesses face severe challenges this quarter。Among them，Food and beverage delivery revenue decreased by 11% year-on-year in the first quarter.4% to RMB 9.5 billion，The average daily order volume fell by 18% year-on-year.2% to 15.1 million transactions。In-store、Income from the wine and travel business fell by 31% year-on-year.1% to RMB 3.1 billion，Operating profits decreased year-on-year and month-on-month。

During the epidemic，The entire catering industry is facing challenges。Although its own operations are also affected，However, Meituan still chooses to provide commission-free rebates to high-quality 188bet Online Sports Betting and Casino merchants that have been greatly affected by the epidemic、Various support such as subsidies and free traffic，Use the most direct way to help merchants get through difficult times，During the epidemic，Only in Wuhan area，Meituan provides merchants with over 30 million yuan in commission-free services；At the same time，Meituan speeds up product and service updates，Assist merchants to reduce losses through digital operations and marketing methods。During special times，Takeaway business has become the main source of income for many restaurants，More brand restaurants have begun to provide delivery services through Meituan，In the first quarter alone, more than 50% of the restaurants on the must-eat list launched takeout，The online trend of the industry has increased significantly。More and better supply of high-quality merchants，In turn, food delivery users’ preference for high-quality dining experience continues to increase，User stickiness has been further deepened。

For in-store visits、Negative impact on wine and travel merchants，Meituan first reduces merchant commissions、Extending the validity period of annual fees and other aspects will effectively help local life service merchants reduce the burden，At the same time, we also actively cooperate with local governments，Taking local life services such as catering industry as the entry point，Start promoting economic recovery。The "Safe Consumption Festival" jointly organized by Meituan and local governments ends in mid-May，Has been implemented in more than 50 cities across the country。Liquor and travel business，Meituan and partner hotels launched the “Safe Stay 188bet app Project”，To support the industry’s post-epidemic recovery。

During the epidemic，The demand for non-meal consumption, represented by fresh food retail, is increasing rapidly，Meituan’s brand awareness of “everything can be delivered to your home” has been deepened，New business revenue increased by 4% year-on-year.9% to RMB 4.2 billion。

Provide all-round support for consumption recovery   Will increase investment in the future

First quarter report in progress，Meituan also estimated the impact of the epidemic on the whole year，Given that it will still take time to fully restore user confidence，In particular, local life service merchants that are not strictly needed are still facing recovery pressure，Potential impact on future business performance。However，Meituan CFO Chen Shaohui said，The epidemic is positive for the long-term trend of promoting the online industry，This further enhances the company’s confidence in investing in the future。At the same time，Meituan will also continue to pay attention to the difficulties faced by platform merchants and industries，“How to better help merchants resume operations will be our focus this year”。

Recent data display，A series of recovery measures launched by Meituan are beginning to show results。Last week of March，Over 70% of merchants’ takeout orders have recovered to more than 60% of pre-epidemic levels，There are still 30% merchants whose outdoor sales volume has completely exceeded that before the epidemic；In-store、Wine and tourism，Meituan continues to jointly launch consumer coupons with more cities，The distribution area is also expanding from 188bet sports betting app download catering to hotels、Accommodation、Business district and more local life service industries。Data display，Promoted by the “Safety of Mind” series of initiatives，The order volume of high-quality merchants across the country increased by 61.6%；The number of room nights at the platform’s “Safe Stay” hotels has recovered by about 90% year-on-year by the end of March。Meituan will continue to cooperate with hotels、B&Bs and scenic spots，Actively promote the recovery of the tourism industry。Also，Meituan recently launched the "Operation Spring Breeze" Million Small Stores Program，Helping small stores recover through digitalization，Among them, the volume of store orders on the platform in the first week of May increased 28 times compared with the first week of February。

It is worth mentioning，New businesses such as Meituan’s flash sales that Meituan has paid close attention to and explored for a long time in the past，Assume the role of "urban infrastructure" in special times，Exploding new growth potential，It is expected to receive additional investment in the future。