Meituan Dianping files for IPO in Hong Kong, Tencent is largest shareholder

tmtpost

tmtpost

· 2018.06.26

Similar to Xiaomi's Hong Kong IPO, Meituan Dianping also adopts dual-class share structure.

Meituan Dianping filed for IPO in Hong Kong on June 25. Goldman Sachs Group, Morgan Stanley and Bank of America Merrill Lynch are sponsors of the IPO, and China Renaissance Group is the financial advisor. The startup targets a fundraising of USD 6 billion at a valuation of about USD 60 billion.

The prospectus shows that Meituan Dianping realized operating revenues of RMB 4 billion, RMB 13 billion and RMB 33.9 billion annually from 2015 to 2017, representing year-on-year increases of 223.2% and 161.2%. Its revenue surged by over 700% in three years. The company's adjusted net loss decreased from the RMB 5.9 billion in 2015 to RMB 5.4 billion in 2016, and further dropped to RMB 2.8 billion, totaling RMB 14.1 billion in three years.

Meituan Dianping's offerings cover a broad range of life scenarios corresponding to four big location-based service (LBS) categories: in store, at home, on trip, and on road. In 2017, the company's food delivery business had a profit margin of 8.1%, and its in store and travel businesses had a profit margin of 88.3%. The company realized a 46% profit margin in new business.
The number of Meituan Dianping users reached 310 million in 2017, with the average annual transactions per user increasing from 10.4 in 2015 to 18.8. The number of Meituan's online participating merchants had increased from the 3 million in 2015 to about 5.5 million in 2017, of which 4.4 million were active merchants last year. Meituan's transaction value amounted RMB 357 billion in 2017, with 5.8 billion transactions. The number of active users totaled 289 million in December 2017.

Tencent now owns 20.14% of Meituan as the largest shareholder. Sequoia Capital holds 11.44% of the company and Alibaba holds about 1.48% (74,352,299 shares). Being founders and Class A shareholders of Meituan, Wang Xing owns 573 million shares or 11.44% of the company, Mu Rongjun and Wang Huiwen hold 126 million (2.51%) and 36.4 million Class A shares (0.7264%) respectively.

-----------------------------------------

The article is edited by @Yi LIU (Email: yiliu@tmtpost.com;  Mobile/WeChat: +86 13911703028). The Chinese version article is published with authorization from the author @TMTpost, please note source and hyperlink when reproduce.

Follow us now on Twitter @tmtpostenglish, Medium @TMTpost and Facebook @tmtpost)

本文系作者tmtpost授权钛媒体发表,并经钛媒体编辑,转载请注明出处、作者和本文链接
想和千万钛媒体用户分享你的新奇观点和发现,点击这里投稿 。创业或融资寻求报道,点击这里

敬原创,有钛度,得赞赏

”支持原创,赞赏一下“
钛粉02929 Kris00135 钛粉88011 钛粉39442 在天空中自由翱翔的百灵鸟 在天空中自由翱翔的百灵鸟
392人已赞赏 >
392换成打赏总人数392人赞赏钛媒体文章
关闭弹窗

挺钛度,加点码!

  • ¥ 5
  • ¥ 10
  • ¥ 20
  • ¥ 50
  • ¥ 100

支付方式

确认支付
关闭弹窗

支付

支付金额:¥6

关闭弹窗
sussess

赞赏金额:¥ 6

赞赏时间:2020.02.11 17:32

关闭弹窗 关闭弹窗

Oh! no

您是否确认要删除该条评论吗?

注册邮箱未验证

我们已向下方邮箱发送了验证邮件,请查收并按提示验证您的邮箱。

如果您没有收到邮件,请留意垃圾邮件箱。

更换邮箱

您当前使用的邮箱可能无法接收验证邮件,建议您更换邮箱

账号合并

经检测,你是“钛媒体”和“商业价值”的注册用户。现在,我们对两个产品因进行整合,需要您选择一个账号用来登录。无论您选择哪个账号,两个账号的原有信息都会合并在一起。对于给您造成的不便,我们深感歉意。