Meituan CEO Confident in Future Growth Amid Consumer Shifts

Meituan's CEO predicts a downward trend in Q2 food delivery orders compared to last year. Despite a cautious macro environment, young consumers are spending more on experiences and travel. The company is optimistic about the profitability of its hotel business for 2024 and is exploring overseas markets for future growth.

Meituan CEO: * AS WE ENTER Q2 FOOD DELIVERY ORDER GROWTH RATE COMPARED TO LAST YEAR IS EXPECTED TO TREND DOWNWARD

* UNDER CURRENT MACRO ENVIRONMENT CONSUMERS HAVE BECOME MORE COST-CONSCIOUS BUT SOME YOUNG PEOPLE ARE WILLING TO ALLOCATE MORE BUDGET FOR EXPERIENCES AND TRAVEL * WE ARE CONFIDENT IN THE POTENTIAL FOR GROWTH AND PROFITABILITY IN OUR HOTEL BUSINESS IN FULL YEAR 2024 AND BEYOND

* WE ARE STILL AT THE VERY EARLY STAGES OF RESEARCHING MORE OVERSEAS MARKETS FOR FOOD DELIVERY EXPANSION * GLOBAL EXPANSION WILL BE VERY IMPORTANT FOR THE FUTURE OF MEITUAN'S LONG TERM GROWTH BUT FROM A FINANCIAL PERSPECTIVE WE WILL BE CAREFUL AND ROI-ORIENTED Further company coverage:

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