Meituan (OTCPK:MPNGF) Q3 2024 Results Conference Call November 29, 2024 6:00 AM ET
Company Participants
Scarlett Xu – VP and Head-Capital Markets
Xing Wang – Chairman and CEO
Shaohui Chen – SVP and CFO
Conference Call Participants
Ya Jiang – CITIC Securities
Ronald Keung – Goldman Sachs
Gary Yu – Morgan Stanley
Thomas Chong – Jefferies
Kenneth Fong – UBS
Operator
Thank you for standing by, and welcome to the Meituan Third Quarter 2024 Earnings Conference Call. [Operator Instructions]. I would now like to hand the conference over to Scarlett Xu, VP and Head of Capital Markets. Please go ahead.
Scarlett Xu
Thank you, operator. Good evening, and good morning, everyone. Welcome to our third quarter of 2024 earnings conference call. Joining us today are Mr. Xing Wang, Chairman and CEO; and Shaohui Chen, Senior Vice President and CFO of Meituan. For today’s call, management will first provide a review of our third quarter of 2024 results and then conduct a Q&A session.
Before we start, we would like to remind you that our presentation contains forward-looking statements which include a number of risks and uncertainties and may differ from the actual results in the future. This presentation also contains, unaudited non-IFRS accounting standard financial measures that should be considered in addition to and are not as a substitute for measures of the company’s financial performance prepared in accordance with IFRS accounting standards. For a detailed discussion of risk factors non-IFRS accounting standards measures, please refer to the disclosure documents in the IR section of our website.
Now I will turn the call over to Mr. Xing Wang. Please go ahead Xing.
Xing Wang
Thank you, Scarlett. Hello, everyone. In the third quarter, we continued to achieve solid improvements. Total revenue increased by 22.4% year-over-year. reaching RMB93.6 billion. Adjusted net profit increased by 124% to RMB12.2 billion. Annual Active Merchants and
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