IT Home reported on December 14 that on December 13, when the Hong Kong stock market was **, NetEase surpassed Meituan with a market value of 542.5 billion Hong Kong dollars, becoming the fourth largest Internet company in China by market capitalization, second only to Tencent, Pinduoduo and Alibaba.
In February 2021, when the valuation of Chinese concept stocks as a whole rushed to its peak, Meituan's market capitalization was about four NetEase. However, in more than two years, NetEase's market value has surpassed Meituan.
According to a late financial report, the reason why NetEase was able to overtake Meituan is because it fell less than Meituan. From the peak of market capitalization in 2021 to the present, NetEase's market capitalization has increased by 21%, while Meituan's market capitalization has increased by more than 80%.
It is reported that the peak of Meituan's market capitalization occurred in April 2021, when its market capitalization reached 2At HK$6 trillion, it surpassed Alibaba to become the largest internet company in China by market capitalization. At that time, Meituan made a big push into the community ** field.
IT Home noted that the latest financial report shows that in the third quarter of 2023, NetEase's revenue will be 27.3 billion yuan, a year-on-year increase of 12%. Among them, the revenue of core business games and related value-added services increased by 16% year-on-year5% to $21.8 billion. Non-GAAP net income from continuing operations attributable to shareholders of the Company was $8.6 billion.
Meituan achieved revenue of 764 in the third quarter700 million yuan, a year-on-year increase of 221%；Adjusted net profit of 57300 million yuan, a year-on-year increase of 624%。At the earnings conference, Meituan CEO Wang Xing said that management is fully confident in the company's long-term growth potential, and that Meituan's share price in the secondary market only reflects the valuation of a single food delivery business, which is not in line with the company's intrinsic value, and is considering a $1 billion buyback program.