The single season lost 10 billion, after the anti-monopoly, the US Group ushered in "to the dark moment"

November 26th,MissionReleased the 20th quarter of 2021 showed that the company achieved revenue of 48.83 billion yuan, an increase of 37.9% year-on-year;The net loss was 9.99 billion yuan, and the single quarter loss was high in three years.

After the bleak performance was released, the US group stock price fell 7% on November 29.

If the US group stock price has fallen by 45% in the year, the market value is 1.3 trillion Hong Kong dollars.

Why is the US Mission continue to lose, after the anti-monopoly investigation landing, what will the takeaway giant will go?

one

From the perspective of financial report, the cause of the US group loss is mainly fromThe growth rate of the main business such as takeaway slows down, and the new business is losing.

The company’s growth rate is amazing. It is only a group purchase website for 10 years. After 10 years, it is already a trillion giant, a bus, cars, fresh, wine, webmark, bicycle, etc.

As a three-pole, the core of China’s Internet is still takeaway.

The third quarterly report shows that the revenue of the catering takeaway is 26.48 billion yuan, and the total collection is more than 50%.The total year-on-year increase of this takeaway business increased by 28% year-on-year. This growth rate is 116.8% in the first quarter of this year. It can be said that it is a cliff falling.

In addition, a net profit of 880 million yuan was achieved in the third quarter, an increase of 14% year-on-year, 64.1% smaller than the second quarter.

Contributing 26.48 billion yuan, only 880 million yuan, the net profit is only 3.3%, overall, the US Troupled takeaway business is quite equalAnd still the first performance of the market share.

Before and after 2015, the US Mission and Hungry, the market share basically five-five, and later the US group share all the way, and the 2019 Q1 its takeaway market has been as high as 64.6%, far exceeding all peers.

Wang Xing was explained at the US Group Performance Conference. And may continue until the first few quarters next year. "

Simple understanding, the core takeaway business in the next few quarters is still a micro-profit state, and supports a higher valuation.

In addition to takeaway, the US Mission has two major businesses – the US group is preferred, the US group buys the new business, and the new business in the Meng Shi purchase, and to the store, the hotel and the tourist sector, the two responsible for burning money, one responsible Size profit.

The third quarter shows that the hotel has exceeded 8.62 billion yuan, net profit was 3.8 billion yuan, and the maximum profit was contributed at least revenue.

In contrast, the new business loss is huge. The third quarterly report shows that the new business sector revenue is 13.72 billion yuan, an increase of 66.7% year-on-year, and has become the second largest revenue from the US group. However, the loss of loss is significantly expanded, and the net loss of plates reaches 10.91 billion yuan, an expanded 437.5% year-on-year.

In the new business loss, the "US Mission" of the community group purchase is also the big head, among which infrastructure such as warehousing and logistics is important.

It can be seen that after the community group purchase station, the Internet giants, including the US group, Jingdong, and drops, and the losses of this investment may not be returned.

In mid-November, the General Administration of Market Supervision issued a document, and the major Internet platform companies have entered the community group purchase market, the rules are not perfect, the order is unreasonable, and the operation is not legal, including the undermation of the current supply chain industry, low Price dumping disrupted the market price order, and squeezed the employment space of small duty owners, small traders and other groups, affecting social stability.

From the perspective of regulatory wording, the probabilities of this matter of community group purchase should be suppressed. After all, I influence the rice bowl of small traders, just like live goods to grab the solid store goods.

Under the principle of common prosperity, these so-called wind ports must be cooled, so the new business sector of the US group will continue.

two

Throughout 2021, the most influencing of the US group or the anti-monopoly investigation.

In April this year, the Market Supervision State Administration’s investigation of the US Mission implemented the "two choices" and other suspected monopoly behavior.

On October 8, the investigation boots landed. The State Market Supervision Administration is a fine of 3,442 billion yuan in its $ 3442 billion, a penalty for a penalty, a penalty.

In addition to huge fines, the State Market Supervision Administration also filed 15 rectification opinions to the US group, including canceling "two choices", "protecting consumer personal information and privacy" according to law, "guaranteeing labor income for takeaway delivery, perfect takeaway delivery Social Security, etc.

The US Mission takeaway single quarter operating profit rate is only 3.3%, which is the profit of the merchant, the rider sides extruded.

For example, the merchants have risen to 22% from the most beginning of 5%, and finally forced the Guangdong Catering Service Industry Association, a paper red head document "shouting" US group, who has a maximum of 26% of its commissions, forcing the exclusive cooperation of commercial households.

The rider is also very severe, August 8, 2020, a "take-away rider, sleepy in the system" article brush screen, the article pointed out that the turtlefaction is strive for the delivery time, the rider has to compete for the second and risks, causing Safety hidden dangers such as speeding, violations.

The takeaway rider described his career: send a takeaway is running with the dead god, and the traffic police are more energetic, and the red light is friends …

According to the rectification opinions of the US Mission, the future can neither force the "two choices", but also guarantee the rider income and social security.If these two are implemented, the US Town Takeaway Segment is estimated to dry back to the loss era.

That’s right, the US Trojan takes for the essence or labor-intensive industries, but only shaped the Internet coat, and the anti-monopoly is slightly restricted.

In the common prosperity, the country should prevent capital disorderly expansion, the Internet anti-monopoly will become a normal state, and the excess profit will not be, the unreasonable distribution will also correct, the future is no longer flow, it is inevitable to be technological innovation.

Therefore, the US Group has increased by 60% year-on-year in the third quarter, reaching 4.7 billion yuan, an increase in the increase of 38% of the revenue.Focus on supply chain logistics, super brain dispatching system, drone delivery.

Takeaway growth, new business is deeply lost, coupled with anti-monopoly high pressure, future US group research and development can land, promote performance into new growth, we will wait and see!