BEIJING, April 4 (Xinhua) -- China's service-focused e-commerce giant Meituan Dianping reported soaring revenue increase last year, backed by growth in key business areas such as food delivery, in-store purchases, hotels and travel.
Total operating revenue surged 49.5 percent year on year to 97.5 billion yuan (around 13.7 billion U.S. dollars), while its net profit stood at 4.7 billion yuan, the company said in its annual financial report.
Food delivery services remained the company's major income source, generating a total of 54.8 billion yuan in revenue.
Meituan Dianping recorded an aggregate transaction volume of 682.1 billion yuan in 2019, up 32.3 percent from the previous year.
Last year, most of the company's new users were from third-and-lower-tier cities, the report said.
The company focuses on a "food + platform" strategy and operates a number of mobile apps in China to provide multi-level services, including on-demand delivery, ticket booking, car-hailing and bike-sharing.
