Group Buy Site Meituan June 2012 Revenues Hit RMB 440 Mln

Netease Tech, 7/03/12

Chinese group buy site Meituan today announced its latest sales figures, with revenue reaching RMB 440 mln in June, with local group buy sales accounting for 96% (RMB 420 mln). Meituan VP Wang Huiwen told reporters that the company currently has a gross profit margin of approximately 7%, and will achieve profitability once it exceeds 8%, which Meituan expects to reach by the end of the year.

According to Meituan's figures, monthly sales volume during H1 2012 reached RMB 200 mln in January, RMB 240 mln in February, RMB 300 mln in March, RMB 350 mln in April, RMB 386 mln in May, and RMB 440 mln in June. Total H1 2012 sales revenue reached RMB 1.92 bln. Sales for the year ending in March 2012 totaled RMB 1.82 bln.

Meituan is currently ranked first among group buy sites nationally in terms of sales by group buy directory site Tuan800.

Keywords: Internet revenue Meituan Tuan800 Wang Huiwen group buying

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