Meituan Co-founder Mu Rongjun's Stake Reduction and Company Performance

TapTechNews October 6th news, according to the documents of the Hong Kong Stock Exchange, Mu Rongjun, the co-founder of Meituan, reduced his stake in Meituan on September 30, 2024. Mu Rongjun sold 2 million shares at an average price of HK$171.8055, cashing out about HK$344 million (TapTechNews note: currently about 311 million yuan).

After this reduction, Mu Rongjun's shareholding decreased from 1.06% to 1.02%.

The financial report shows that Meituan's revenue in the first half of 2024 was 155.527 billion yuan, an increase of 22.9% compared to 126.582 billion yuan in the same period of the previous year.

Meituan's operating profit in the first half of 2024 was 16.466 billion yuan, an increase of 98.4% compared to 8.3 billion in the same period of the previous year; the operating profit margin was 10.6%, and the operating profit margin in the same period of the previous year was 6.6%; the profit during the period was 16.72 billion yuan, an increase of 107.8% compared to 8.047 billion yuan in the same period of the previous year.

Since the release of the second-quarter financial report, Meituan's stock price has continued to rise, rising from less than HK$100 to more than HK$200 all the way, Meituan's stock price increase exceeded 100%.