中商官网
研究报告
美团-W（HK3690）
主要经济指标
| 类别\年份 | 营业额 （元) |
营业额同比 （%) |
营业利润 （元) |
营业利润同比 （%) |
利润总额 （元) |
利润总额同比 （%) |
净利润 （元) |
净利润同比 （%) |
| 2025-03 | 86557126000.0000 | 18.12 | 32413689000.0000 | 26.14 | 10600801000.0000 | 93.39 | 10056827000.0000 | 87.31 |
| 2024-12 | 337591576000.0000 | 21.99 | 129784594000.0000 | 33.54 | 37985429000.0000 | 170.90 | 35807179000.0000 | 158.43 |
| 2024-09 | 249104280000.0000 | 22.68 | 96340447000.0000 | 33.44 | 31089129000.0000 | 165.52 | 29585158000.0000 | 154.19 |
| 2024-06 | 155526961000.0000 | 22.87 | 59586584000.0000 | 31.78 | 17138695000.0000 | 112.49 | 16720459000.0000 | 107.81 |
| 2024-03 | 73275884000.0000 | 25.01 | 25696740000.0000 | 29.67 | 5481481000.0000 | 62.80 | 5368979000.0000 | 59.88 |
| 2023-12 | 276744954000.0000 | 25.82 | 97191161000.0000 | 57.39 | 14021868000.0000 | -307.56 | 13855828000.0000 | -307.23 |
| 2023-06 | 126582096000.0000 | 30.22 | 45215430000.0000 | 71.83 | 8065493000.0000 | -217.25 | 8046103000.0000 | -218.00 |
| 2023-09 | 203049003000.0000 | 27.04 | 72197822000.0000 | 61.09 | 11708822000.0000 | -306.49 | 11639126000.0000 | -307.75 |
| 2022-09 | 159826009000.0000 | 23.32 | 44819583000.0000 | 46.99 | -5670277000.0000 | -68.88 | -5602566000.0000 | -69.22 |
| 2023-03 | 58617472000.0000 | 26.69 | 19817425000.0000 | 84.51 | 3366902000.0000 | -158.48 | 3358233000.0000 | -158.89 |
| 2022-12 | 219954948000.0000 | 22.79 | 61752979000.0000 | 45.39 | -6755517000.0000 | -71.33 | -6686110000.0000 | -71.59 |
| 2021-12 | 179127997000.0000 | 56.04 | 42474128000.0000 | 24.74 | -23566477000.0000 | -631.03 | -23538379000.0000 | -599.93 |
| 2022-06 | 97207117000.0000 | 20.34 | 26314715000.0000 | 33.49 | -6878879000.0000 | -16.33 | -6819008000.0000 | -16.89 |
| 2022-03 | 46268754000.0000 | 25.00 | 10740287000.0000 | 49.17 | -5757789000.0000 | 18.54 | -5702489000.0000 | 17.64 |
| 2021-09 | 129604864000.0000 | 68.59 | 30491525000.0000 | 23.98 | -18222268000.0000 | -351.23 | -18199266000.0000 | -361.75 |
| 2021-03 | 37016262000.0000 | 120.94 | 7200167000.0000 | 38.56 | -4857217000.0000 | 186.64 | -4847283000.0000 | 207.11 |
| 2021-06 | 80775494000.0000 | 94.75 | 19713538000.0000 | 43.15 | -8221822000.0000 | -1735.76 | -8204606000.0000 | -1399.41 |
| 2020-12 | 114794510000.0000 | 17.70 | 34050142000.0000 | 5.35 | 4437875000.0000 | 60.65 | 4708313000.0000 | 110.31 |
| 2020-09 | 76877006000.0000 | 10.82 | 24594433000.0000 | 8.81 | 7253184000.0000 | 470.01 | 6953014000.0000 | 790.45 |
| 2020-03 | 16753887000.0000 | -12.62 | 5196466000.0000 | 2.51 | -1694516000.0000 | 31.36 | -1578336000.0000 | 10.24 |
| 2020-06 | 41475724000.0000 | -0.96 | 13771424000.0000 | 5.85 | 502631000.0000 | -367.13 | 631411000.0000 | -213.90 |
| 2019-12 | 97528531000.0000 | 49.52 | 32320388000.0000 | 113.97 | 2762388000.0000 | -102.39 | 2238769000.0000 | -101.94 |
| 2019-06 | 41876649000.0000 | 58.94 | 13009975000.0000 | 114.94 | -188159000.0000 | -99.34 | -554362000.0000 | -98.07 |
| 2019-09 | 69370278000.0000 | 52.72 | 22602259000.0000 | 112.75 | 1272458000.0000 | -101.14 | 780840000.0000 | -100.70 |
| 2019-03 | 19173512000.0000 | 70.05 | 5069340000.0000 | 57.83 | -1290011000.0000 | -93.92 | -1431777000.0000 | -93.20 |
| 2018-12 | 65227278000.0000 | 92.25 | 15104958000.0000 | 23.61 | -115490807000.0000 | 509.98 | -115477171000.0000 | 510.45 |
| 2018-06 | 26347827000.0000 | 91.22 | 6052723000.0000 | 11.37 | -28647756000.0000 | 131.18 | -28756854000.0000 | 131.84 |
| 2018-09 | 45423826000.0000 | 93.68 | 10623964000.0000 | 19.80 | -111800434000.0000 | 568.22 | -112051864000.0000 | 568.76 |
| 2018-04 | 15824284000.0000 | 94.89 | 4037435000.0000 | 19.57 | -22937725000.0000 | 181.34 | -22772750000.0000 | 178.50 |
| 2017-12 | 33927987000.0000 | 161.22 | 12219504000.0000 | 105.67 | -18933663000.0000 | 78.10 | -18916617000.0000 | 226.72 |
| 2018-03 | 11275063000.0000 | -- | 3211973000.0000 | -- | -21223309000.0000 | -- | -21051147000.0000 | -- |
| 2017-06 | 13778813000.0000 | -- | 5434878000.0000 | -- | -12391840000.0000 | -- | -12403508000.0000 | -- |
| 2017-04 | 8119582000.0000 | -- | 3376726000.0000 | -- | -8153065000.0000 | -- | -8176928000.0000 | -- |
| 2017-09 | 23452609000.0000 | -- | 8867995000.0000 | -- | -16730999000.0000 | -- | -16755169000.0000 | -- |
| 2015-12 | 4018959000.0000 | -- | 2779455000.0000 | -- | -9242729000.0000 | -- | -10519338000.0000 | -- |
| 2016-12 | 12988077000.0000 | 223.17 | 5941236000.0000 | 113.76 | -10631096000.0000 | 15.02 | -5789900000.0000 | -44.96 |
| 2025-06 | 178397606000.0000 | 14.71 | 62827692000.0000 | 5.44 | 10994467000.0000 | -35.85 | -- | -100.00 |
盈利能力分析
| 类别\年份 | 销售毛利率 （%) |
主营利润率 （%) |
总资产利润率 （%) |
净资产收益率 （%) |
存货周转率 | 应收账款周转率 （次) |
总资产周转率 （次) |
| 2025-03 | 37.45 | 12.2300 | 3.17 | 5.4600 | 28.48 | -- | 0.26 |
| 2024-12 | 38.44 | 10.9000 | 11.71 | 20.7400 | 119.83 | -- | 1.04 |
| 2024-09 | 38.67 | 12.1300 | 10.87 | 18.4500 | 86.07 | -- | 0.87 |
| 2024-06 | 38.31 | 10.6000 | 6.00 | 10.4100 | 67.50 | -- | 0.54 |
| 2024-03 | 35.07 | 7.0500 | 1.92 | 3.4200 | 35.50 | -- | 0.26 |
| 2023-12 | 35.12 | 4.6300 | 4.79 | 9.1100 | 137.63 | -- | 0.94 |
| 2023-06 | 35.72 | 6.3100 | 3.03 | 5.6600 | 66.08 | -- | 0.48 |
| 2023-09 | 35.56 | 5.5200 | 4.10 | 7.8700 | 95.97 | -- | 0.71 |
| 2022-09 | 28.04 | -3.6300 | -2.30 | -4.3900 | 112.93 | -- | 0.65 |
| 2023-03 | 33.81 | 5.8300 | 1.35 | 2.5000 | 37.49 | -- | 0.23 |
| 2022-12 | 28.08 | -3.0900 | -2.76 | -5.1900 | 136.06 | -- | 0.90 |
| 2021-12 | 23.71 | -13.2400 | -9.79 | -18.7400 | 200.46 | -- | 0.74 |
| 2022-06 | 27.07 | -6.7100 | -2.83 | -5.5200 | 80.04 | -- | 0.40 |
| 2022-03 | 23.21 | -12.5400 | -2.49 | -4.7100 | 48.46 | -- | 0.20 |
| 2021-09 | 23.53 | -14.3000 | -7.51 | -14.0800 | 150.61 | -- | 0.53 |
| 2021-03 | 19.45 | -13.1200 | -3.03 | -5.1500 | 62.39 | -- | 0.23 |
| 2021-06 | 24.41 | -10.2200 | -3.47 | -6.0800 | 121.15 | -- | 0.34 |
| 2020-12 | 29.66 | 3.6400 | 2.66 | 4.8200 | 173.09 | -- | 0.69 |
| 2020-09 | 31.99 | 9.2400 | 4.83 | 6.9000 | 134.73 | -- | 0.51 |
| 2020-03 | 31.02 | -10.1800 | -1.38 | -1.7100 | 44.25 | -- | 0.14 |
| 2020-06 | 33.20 | 1.0800 | 0.38 | 0.6600 | 97.41 | -- | 0.31 |
| 2019-12 | 33.14 | 2.7200 | 2.09 | 2.4300 | 236.92 | -- | 0.74 |
| 2019-06 | 31.07 | -0.5100 | -0.15 | -0.6400 | 100.80 | -- | 0.34 |
| 2019-09 | 32.58 | 1.7600 | 1.00 | 0.8600 | 154.64 | -- | 0.54 |
| 2019-03 | 26.44 | -6.7700 | -1.09 | -1.6900 | 49.15 | -- | 0.16 |
| 2018-12 | 23.16 | -177.0600 | -95.71 | -133.4900 | 125.23 | -- | 0.54 |
| 2018-06 | 22.97 | -108.7600 | -29.87 | 39.7300 | 66.16 | -- | 0.27 |
| 2018-09 | 23.39 | -246.1500 | -91.78 | -125.3700 | 83.73 | -- | 0.37 |
| 2018-04 | 25.51 | -145.1200 | -23.23 | 36.6300 | 44.37 | -- | 0.16 |
| 2017-12 | 36.02 | -55.7700 | -22.64 | 46.6400 | 245.64 | -- | 0.41 |
| 2018-03 | 28.49 | -188.2300 | -- | -- | -- | -- | -- |
| 2017-06 | 39.44 | -90.2300 | -- | -- | -- | -- | -- |
| 2017-04 | 41.59 | -100.9500 | -- | -- | -- | -- | -- |
| 2017-09 | 37.81 | -71.4300 | -- | -- | -- | -- | -- |
| 2015-12 | 69.16 | -229.9600 | -21.55 | 59.5300 | 157.70 | -- | 0.09 |
| 2016-12 | 45.74 | -81.6400 | -20.56 | 22.6000 | 192.64 | -- | 0.25 |
| 2025-06 | 35.22 | -- | 3.33 | -- | -- | -- | 0.54 |
偿债能力分析
| 类别\年份 | 资产负债率 （%) |
股东权益比率 （%) |
流动比率 | 速动比率 |
| 2025-03 | 44.86 | 55.14 | 2.09 | 2.07 |
| 2024-12 | 46.79 | 53.21 | 1.94 | 1.93 |
| 2024-09 | 43.95 | 56.05 | 1.82 | 1.80 |
| 2024-06 | 43.79 | 56.21 | 1.81 | 1.79 |
| 2024-03 | 45.06 | 54.94 | 1.99 | 1.98 |
| 2023-12 | 48.14 | 51.86 | 1.82 | 1.80 |
| 2023-06 | 46.60 | 53.40 | 1.81 | 1.80 |
| 2023-09 | 48.23 | 51.77 | 1.75 | 1.73 |
| 2022-09 | 48.31 | 51.69 | 1.96 | 1.95 |
| 2023-03 | 46.35 | 53.65 | 1.83 | 1.82 |
| 2022-12 | 47.36 | 52.64 | 1.87 | 1.86 |
| 2021-12 | 47.83 | 52.17 | 2.16 | 2.15 |
| 2022-06 | 49.16 | 50.84 | 2.12 | 2.11 |
| 2022-03 | 47.55 | 52.45 | 2.23 | 2.22 |
| 2021-09 | 46.73 | 53.27 | 2.23 | 2.22 |
| 2021-03 | 41.31 | 58.69 | 1.63 | 1.62 |
| 2021-06 | 43.14 | 56.86 | 2.50 | 2.49 |
| 2020-12 | 41.39 | 58.61 | 1.73 | 1.72 |
| 2020-09 | 32.92 | 67.08 | 1.70 | 1.69 |
| 2020-03 | 25.34 | 74.66 | 2.58 | 2.57 |
| 2020-06 | 28.88 | 71.12 | 2.21 | 2.20 |
| 2019-12 | 30.27 | 69.73 | 2.24 | 2.24 |
| 2019-06 | 29.74 | 70.26 | 2.32 | 2.31 |
| 2019-09 | 29.32 | 70.68 | 2.37 | 2.36 |
| 2019-03 | 28.32 | 71.68 | 2.32 | 2.31 |
| 2018-12 | 28.30 | 71.70 | 2.30 | 2.29 |
| 2018-06 | 175.39 | -75.39 | 1.48 | 1.47 |
| 2018-09 | 26.58 | 73.42 | 2.40 | 2.39 |
| 2018-04 | 162.93 | -62.93 | 1.40 | 1.39 |
| 2017-12 | 148.43 | -48.43 | 2.65 | 2.65 |
| 2018-03 | -- | -- | -- | -- |
| 2017-06 | -- | -- | -- | -- |
| 2017-04 | -- | -- | -- | -- |
| 2017-09 | -- | -- | -- | -- |
| 2015-12 | 141.20 | -41.20 | 2.14 | 2.13 |
| 2016-12 | 149.45 | -49.45 | 1.89 | 1.89 |
| 2025-06 | 0.00 | 55.81 | 1.93 | 1.93 |
成本费用分析
| 类别\年份 | 销售成本 （元) |
销售费用 （元) |
管理费用 （元) |
财务费用 （元) |
| 2025/3/31 0:00:00 | 54143437000.0000 | -- | 8399047000.0000 | -16238000.0000 |
| 2024/12/31 0:00:00 | 207806982000.0000 | -- | 31782804000.0000 | 45231000.0000 |
| 2024/9/30 0:00:00 | 152763833000.0000 | -- | 23424330000.0000 | -68450000.0000 |
| 2024/6/30 0:00:00 | 95940377000.0000 | -- | 15333087000.0000 | -17013000.0000 |
| 2024/3/31 0:00:00 | 47579144000.0000 | -- | 7298476000.0000 | 42108000.0000 |
| 2023/12/31 0:00:00 | 179553793000.0000 | -- | 30573072000.0000 | 606171000.0000 |
| 2023/6/30 0:00:00 | 81366666000.0000 | -- | 14588564000.0000 | 305874000.0000 |
| 2023/9/30 0:00:00 | 130851181000.0000 | -- | 22447506000.0000 | 455599000.0000 |
| 2022/9/30 0:00:00 | 115006426000.0000 | -- | 22818050000.0000 | 713140000.0000 |
| 2023/3/31 0:00:00 | 38800047000.0000 | -- | 7042340000.0000 | 169060000.0000 |
| 2022/12/31 0:00:00 | 158201969000.0000 | -- | 30511675000.0000 | 970917000.0000 |
| 2021/12/31 0:00:00 | 136653869000.0000 | -- | 25288221000.0000 | 584898000.0000 |
| 2022/6/30 0:00:00 | 70892402000.0000 | -- | 14898407000.0000 | 448158000.0000 |
| 2022/3/31 0:00:00 | 35528467000.0000 | -- | 7191322000.0000 | 219958000.0000 |
| 2021/9/30 0:00:00 | 99113339000.0000 | -- | 18271177000.0000 | 410400000.0000 |
| 2021/3/31 0:00:00 | 29816095000.0000 | -- | 5214693000.0000 | 88197000.0000 |
| 2021/6/30 0:00:00 | 61061956000.0000 | -- | 11168511000.0000 | 239348000.0000 |
| 2020/12/31 0:00:00 | 80744368000.0000 | -- | 16486409000.0000 | 156332000.0000 |
| 2020/9/30 0:00:00 | 52282573000.0000 | -- | 11286267000.0000 | 76321000.0000 |
| 2020/3/31 0:00:00 | 11557421000.0000 | -- | 3366199000.0000 | -9886000.0000 |
| 2020/6/30 0:00:00 | 27704300000.0000 | -- | 6901028000.0000 | 10493000.0000 |
| 2019/12/31 0:00:00 | 65208143000.0000 | -- | 12784618000.0000 | 24825000.0000 |
| 2019/6/30 0:00:00 | 28866674000.0000 | -- | 6118941000.0000 | 22473000.0000 |
| 2019/9/30 0:00:00 | 46768019000.0000 | -- | 9312259000.0000 | 33249000.0000 |
| 2019/3/31 0:00:00 | 14104172000.0000 | -- | 3111293000.0000 | -6101000.0000 |
| 2018/12/31 0:00:00 | 50122320000.0000 | -- | 12617937000.0000 | -249315000.0000 |
| 2018/6/30 0:00:00 | 20295104000.0000 | -- | 4669287000.0000 | -95330000.0000 |
| 2018/9/30 0:00:00 | 34799862000.0000 | -- | 8075686000.0000 | -148295000.0000 |
| 2018/4/30 0:00:00 | 11786849000.0000 | -- | 2899588000.0000 | -61371000.0000 |
| 2017/12/31 0:00:00 | 21708483000.0000 | -- | 5818042000.0000 | -41671000.0000 |
| 2018/3/31 0:00:00 | 8063090000.0000 | -- | 2050021000.0000 | -38766000.0000 |
| 2017/6/30 0:00:00 | 8343935000.0000 | -- | 2202878000.0000 | -9568000.0000 |
| 2017/4/30 0:00:00 | 4742856000.0000 | -- | 1424652000.0000 | -8308000.0000 |
| 2017/9/30 0:00:00 | 14584614000.0000 | -- | 3754300000.0000 | -18692000.0000 |
| 2015/12/31 0:00:00 | 1239504000.0000 | -- | 4109453000.0000 | 43020000.0000 |
| 2016/12/31 0:00:00 | 7046841000.0000 | -- | 4089279000.0000 | 34300000.0000 |
| 2025/6/30 0:00:00 | 115569914000.0000 | -- | 17338084000.0000 | -94331000.0000 |