3690 2018 12 31 2018 12 31 1. 2018 12 31 2017 12 31 19,803,452 100.0% 10,475,378 100.0% 89.0% 4,480,994 22.6% 3,351,509 32.0% 33.7% (3,734,518) (18.9%) (1,530,599) (14.6%) 144.0% (3,690,373) (18.6%) (2,202,664) (21.0%) 67.5% (3,414,252) (17.2%) (2,180,818) (20.8%) 56.6% EBITDA (854,601) (4.3%) (1,358,685) (13.0%) (37.1%) (1,861,856) (9.4%) (1,385,447) (13.2%) 34.4% 1
2018 12 31 2017 12 31 65,227,278 100.0% 33,927,987 100.0% 92.3% 15,104,958 23.2% 12,219,504 36.0% 23.6% (11,085,797) (17.0%) (3,826,092) (11.3%) 189.7% (115,490,807) (177.1%) (18,933,663) (55.8%) (115,492,695) (177.1%) (18,987,881) (56.0%) EBITDA (4,733,831) (7.3%) (2,691,811) (7.9%) 75.9% (8,517,188) (13.1%) (2,852,716) (8.4%) 198.6% 2. 2018 12 31 2017 12 31 11,006,277 4,594,132 4,203,043 6,624,416 3,103,191 747,771 1,471,721 3,988,258 (978,985) 415,989 2,720,830 214,690 13.4% 86.8% (23.3%) 6.3% 87.7% 28.7% 2018 12 31 2017 12 31 38,143,083 15,840,361 11,243,834 21,031,933 10,852,810 2,043,244 5,268,197 14,095,355 (4,258,594) 1,699,419 9,579,479 940,606 13.8% 89.0% (37.9%) 8.1% 88.3% 46.0% 2
3. 2018 2017 2018 2017 4 12 31 12 31 12 31 12 31 80.2 57.0 40.6% 282.8 171.1 65.3% 44.7 39.9 11.9% 176.8 158.1 11.8% 13.1 7.2 82.5% 56.0 28.0 99.8% 138.0 104.1 32.5% 515.6 357.2 44.3% 2018 2017 2018 2017 12 31 12 31 12 31 12 31 1,832.3 1,354.0 35.3% 6,393.4 4,089.7 56.3% 74.4 59.2 25.6% 283.9 205.0 38.5% 2018 12 31 2017 12 31 400.4 309.5 29.3% 5.8 4.4 32.1% 23.8 18.8 26.5% 3
2018 12 31 2017 339 652 92.3% 2017 122 151 201732.2%24.3% EBITDA4785 2018 1 2018 EBITDA 2018 12 31 2017 3,5722018 5,156 44.3% 2017309.52018400.4 29.3% 2017 18.8 201823.8 20174.420185.8 32.1% 2 20179.5%201812.6% 1 2 4
1. 2018 201711.2 201817.556.3% 2017 1,7112018 2,828 65.3%381 81.4% 2018 2018 2018 20183 5
2018 2018 2017 1,5812018 1,768 11.8% 6.9%9.0% 2018 2017 109 2018 158 46.0% 2017 962018 141 88.3% 89.0% 2018 CPC 2018 2018 60% 2018 2017205.02018283.9 38.5% 2018 1 2019 225 287 6
2017 28099.8% 2018 5602017 202018 112 450.3% 2018 37.9%2017 46.0% 2018 RMS RMS SaaS RMS 2018 12 RMS RMS RMS 2018 4 7
2. 2019 2019Food + Platform CPC RMS 8
1. 20182017 20182017 2018 12 31 2017 12 31 19,803,452 10,475,378 (15,322,458) (7,123,869) 4,480,994 3,351,509 (4,535,051) (3,362,229) (1,981,826) (1,149,301) (2,846,080) (914,441) 990,653 241,006 156,792 302,857 (3,734,518) (1,530,599) 116,427 36,179 (15,407) (13,200) (663,781) (56,875) (31,263) (3,690,373) (2,202,664) 276,121 21,846 (3,414,252) (2,180,818) EBITDA (854,601) (1,358,685) (1,861,856) (1,385,447) 9
2017 10589.0% 2018 12 31 198(i)2017 1,0412018 12 31 1,380 (ii)2017 10.1%2018 12 3114.3% 20182017 12 31 2018 12 31 2017 12 31 11,006,277 55.6% 6,624,416 63.2% 4,594,132 23.2% 3,103,191 29.6% 4,203,043 21.2% 747,771 7.2% 19,803,452 100.0% 10,475,378 100.0% 2017 6666.1% 2018 12 31 110 (i) (ii) 11.6% 13.7%2018 9 30 1.5%14.0%13.7% 10
2017 3148.0% 2018 12 31 46 (i) (ii) 2017 7462.1% 2018 12 31 42 RMS 20182017 12 31 2018 12 31 2017 12 31 13,150,122 66.4% 8,548,567 81.6% 3,071,073 15.5% 1,488,935 14.2% 3,582,257 18.1% 437,876 4.2% 19,803,452 100.0% 10,475,378 100.0% 2017 8553.8% 2018 12 31 132 2017 15106.3% 2018 12 31 31 11
2017 4718.1% 2018 12 31 36 2017 71115.1% 2018 12 31 1532018 12 31 20182017 12 31 2018 12 31 2017 12 31 9,534,556 62.2% 6,208,427 87.1% 605,874 4.0% 382,361 5.4% 5,182,028 33.8% 533,081 7.5% 15,322,458 100.0% 7,123,869 100.0% 2017 6253.6% 2018 12 31 95 2017 382.4 58.5% 2018 12 31 605.9 12
2017 5 2018 12 31 52 2018 12 31 2017 12 31 1,471,721 13.4% 415,989 6.3% 3,988,258 86.8% 2,720,830 87.7% (978,985) (23.3%) 214,690 28.7% 4,480,994 22.6% 3,351,509 32.0% 20182017 12 31 4534 7.1% 2018 9 30 3.2% 0.9% 3.8% 2017 12 312018 14.1% 13
2017 34 2018 12 31 45 32.1%22.9% 2017 10 2018 12 31 14 2017 132018 12 31 15 2017 112018 12 31 20 11.0%10.0% 2017 11 2018 12 31 18 2017 9 8.7% 2018 12 31 2814.4% 13 3.5881.320 2018 12 316.9% (i) 2017 594.1 2018 12 31 787.9(ii) 9 (iii) 14
2018 12 31 2017749.6 2018 12 31156.8 2017302.92018 12 31 2017 12 31 125.6 2018 12 3137 201715 2018 9 2018 12 31 2017 663.8 2018 12 31 372017 22 2018 12 31 276.1 201721.8 15
20182017 12 31 3422 2. 2018 12 31 2017 12 31 20182017 12 31 2018 12 31 2017 12 31 65,227,278 33,927,987 (50,122,320) (21,708,483) 15,104,958 12,219,504 (15,871,901) (10,908,688) (7,071,900) (3,646,634) (5,831,692) (2,171,408) 1,836,382 472,874 748,356 208,260 (11,085,797) (3,826,092) 294,047 60,885 (44,732) (19,214) (104,606,058) (15,138,824) (48,267) (10,418) (115,490,807) (18,933,663) (1,888) (54,218) (115,492,695) (18,987,881) EBITDA (4,733,831) (2,691,811) (8,517,188) (2,852,716) 16
2017 3392018 652 92.3%(i)2017 3,572 2018 5,156 (ii)20179.5%201812.6% 20182017 2018 12 31 2017 12 31 38,143,083 58.5% 21,031,933 62.0% 15,840,361 24.3% 10,852,810 32.0% 11,243,834 17.2% 2,043,244 6.0% 65,227,278 100.0% 33,927,987 100.0% 2017 21081.4% 2018 381 (i) (ii)12.3%13.5% 2017 10946.0% 2018 158 (i) (ii) 17
2017 20450.3% 2018 112 RMS 20182017 2018 12 31 2017 12 31 47,012,249 72.1% 28,009,130 82.6% 9,391,406 14.4% 4,701,675 13.9% 8,823,623 13.5% 1,217,182 3.5% 65,227,278 100.0% 33,927,987 100.0% 2017 28067.8% 2018 470 2017 4799.7% 2018 94 2017 12624.9% 2018 88 18
2017 217130.9% 2018 501 2018 20182017 2018 12 31 2017 12 31 32,874,886 65.6% 19,332,514 89.1% 1,745,006 3.5% 1,273,331 5.9% 15,502,428 30.9% 1,102,638 5.0% 50,122,320 100.0% 21,708,483 100.0% 2017 19370.0% 2018 329 2017 1337.0% 2018 17 2017 112018 155 19
2018 2017 2018 12 31 2017 12 31 5,268,197 13.8% 1,699,419 8.1% 14,095,355 89.0% 9,579,479 88.3% (4,258,594) (37.9%) 940,606 46.0% 15,104,958 23.2% 12,219,504 36.0% 20182017151 122 2017 109 2018 159 32.2%24.3% 2017 352018 51 2017 422018 54 2017 232018 33 20
2017 362018 71 10.7% 10.8% 2017 342018 66 2017 226.4% 2018 588.9% 13 3.5881.3202018 6.7% (i) 2017 132018 25 (ii) 9 (iii) 20182017 14 2018748.4 2017 208.3 2017 366.7 20181112017 38 21
2017 1512018 1,046 2018 9 2018 1,155 2017 189 2018 1.9 2017 54.2 201820171,155 190 2018 12 31 3. EBITDA 20182017 12 31 20182017 12 31 22
2018 12 31 2017 12 31 (3,734,518) (1,530,599) (990,653) (241,006) (156,792) (302,857) 1,361,812 104,320 317,537 151,460 643,223 459,997 358,790 * 1,346,000 EBITDA (854,601) (1,358,685) (3,414,252) (2,180,818) 663,781 643,223 459,997 ** (984,359) (285,684) *** (124,384) 188,742 81,661 358,790 * 1,346,000 (1,861,856) (1,385,447) * ** (i) (ii) (iii) (iv) *** 23
2018 12 31 2017 12 31 (11,085,797) (3,826,092) (1,836,382) (472,874) (748,356) (208,260) 4,252,292 327,696 1,114,509 516,619 1,865,113 971,100 358,790 * 1,346,000 EBITDA (4,733,831) (2,691,811) (115,492,695) (18,987,881) 104,606,058 15,138,824 1,865,113 971,100 ** (1,834,296) (541,731) *** (29,426) 241,097 663,268 325,875 358,790 * 1,346,000 (8,517,188) (2,852,716) * ** (i) (ii) (iii) (iv) *** 24
4. 2018 12 31 1704182017 12 31 194258 2018 12 31 2017 12 31 (9,179,818) (310,200) (23,438,686) (15,157,090) 29,295,294 25,507,781 (3,323,210) 10,040,491 19,408,839 9,376,575 1,009,587 (8,227) (51,524) 17,043,692 19,408,839 2018 12 31 92 1,155(i) 1,046 54(ii) 4837 2118 6 25
2018 12 31 234 912 7322 16 752 26 2018 12 31 293 2018 12 31 2.6% 26
2018 12 31 12 31 2018 2017 3 65,227,278 33,927,987 3 4 (50,122,320) (21,708,483) 15,104,958 12,219,504 4 (15,871,901) (10,908,688) 4 (7,071,900) (3,646,634) 4 (5,831,692) (2,171,408) 1,836,382 472,874 5 748,356 208,260 (11,085,797) (3,826,092) 294,047 60,885 (44,732) (19,214) (104,606,058) (15,138,824) (48,267) (10,418) (115,490,807) (18,933,663) 7 (1,888) (54,218) (115,492,695) (18,987,881) (115,477,171) (18,916,617) (15,524) (71,264) (115,492,695) (18,987,881) 6 (42.40) (12.37) 27
2018 12 31 12 31 2018 2017 (7,617,689) 3,429,486 (186,013) (7,803,702) 3,429,486 (123,296,397) (15,558,395) (123,281,091) (15,487,131) (15,306) (71,264) (123,296,397) (15,558,395) 28
2018 12 31 29 12 31 2018 2017 9 3,978,815 915,682 10 33,876,004 19,852,974 445,041 243,263 2,103,403 1,952,175 8 6,241,972 5,919,594 866,884 312,340 47,512,119 29,196,028 400,244 88,374 11 466,340 432,494 8 25,099 9,064,945 4,186,391 41,829,964 25,838,177 4,256,120 4,458,761 17,043,692 19,408,839 88,087 73,149,392 54,438,135 120,661,511 83,634,163 384 98 258,284,687 9,338,529 (5,741,347) 466,103 (166,039,390) (50,363,846) 86,504,334 (40,559,116) 5,438 57,734 86,509,772 (40,501,382)
2018 12 31 12 31 2018 2017 1,195,869 1,050,119 12 624,999 833,500 470,056 14 101,418,292 35,759 316,264 2,326,683 103,618,175 13 5,340,963 2,666,799 7,596,388 9,363,873 3,226,407 2,290,160 7,361,630 3,920,323 1,800,000 162,000 12 3,102,882 2,114,215 3,341,276 55,510 31,825,056 20,517,370 34,151,739 124,135,545 120,661,511 83,634,163 30
2018 12 31 2018 1 1 98 9,338,529 466,103 (50,363,846) (40,559,116) 57,734 (40,501,382) 9 (423,731) 411,371 (12,360) (12,360) 2018 1 1 98 9,338,529 42,372 (49,952,475) (40,571,476) 57,734 (40,513,742) (115,477,171) (115,477,171) (15,524) (115,492,695) (186,013) (186,013) (186,013) (7,617,907) (7,617,907) 218 (7,617,689) (7,803,920) (115,477,171) (123,281,091) (15,306) (123,296,397) 283 248,944,408 609,744 (609,744) 248,944,691 248,944,691 15 231,736 231,736 231,736 (2) (811,142) (811,144) (811,144) 1,816,453 1,816,453 1,816,453 5 842,199 (685,701) 156,503 156,503 (29,307) (29,307) (29,307) (4,000) (4,000) 47,969 47,969 (32,990) 14,979 286 248,946,158 2,020,201 (609,744) 250,356,901 (36,990) 250,319,911 2018 12 31 384 258,284,687 (5,741,347) (166,039,390) 86,504,334 5,438 86,509,772 31
2018 12 31 2017 1 1 93 8,567,622 (2,742,872) (31,447,229) (25,622,386) 47,035 (25,575,351) (18,916,617) (18,916,617) (71,264) (18,987,881) 3,429,486 3,429,486 3,429,486 3,429,486 (18,916,617) (15,487,131) (71,264) (15,558,395) 12,948 12,948 (1) (526,738) (526,739) (526,739) 746,465 746,465 746,465 6 1,297,645 (1,070,615) 227,036 227,036 82,829 82,829 82,829 1,363 1,363 20,810 20,810 67,652 88,462 5 770,907 (220,511) 550,401 81,963 632,364 2017 12 31 98 9,338,529 466,103 (50,363,846) (40,559,116) 57,734 (40,501,382) 32
2018 12 31 12 31 2018 2017 (9,179,818) (310,200) (23,438,686) (15,157,090) 29,295,294 25,507,781 (3,323,210) 10,040,491 19,408,839 9,376,575 1,009,587 (8,227) (51,524) 17,043,692 19,408,839 33
2018 12 31 1 2015 9 25 2018 9 20 2 (a) 2018 1 1 9 9 39 39 9 7 9 9 34
(i) 2018 1 1 39 50,363,846 (ii) 12,360 (ii) (ii) (423,731) 9 49,952,475 9 2018 1 1 9 39 9 35
(ii) 9 9 9 2018 1 1 12 9 2018 1 1 2018 1 1 9 2018 1 1 36
(b) 2018 1 1 2019 1 1 16 16 16 16 12 16 2018 12 312,111.5 2019 1 1 2,021.2 1,846.7 2018 12 31 611.7 37
3 20182017 12 31 2018 12 31 35,719,208 9,042,303 2,250,738 47,012,249 2,334,999 6,734,901 321,506 9,391,406 88,876 63,157 8,671,590 8,823,623 38,143,083 15,840,361 11,243,834 65,227,278 (32,874,886) (1,745,006) (15,502,428) (50,122,320) 5,268,197 14,095,355 (4,258,594) 15,104,958 13.8% 89.0% (37.9%) 23.2% 2017 12 31 20,283,964 7,135,970 589,196 28,009,130 710,203 3,649,996 341,476 4,701,675 37,766 66,844 1,112,572 1,217,182 21,031,933 10,852,810 2,043,244 33,927,987 (19,332,514) (1,273,331) (1,102,638) (21,708,483) 1,699,419 9,579,479 940,606 12,219,504 8.1% 88.3% 46.0% 36.0% 38
4 12 31 2018 2017 30,516,055 18,324,065 15,226,535 8,650,917 5,400,781 4,208,921 4,463,320 293,306 4,252,292 327,696 3,272,934 2,277,969 3,133,770 301,010 2,087,398 126,434 1,524,853 1,023,889 i 1,346,000 1,114,509 516,619 970,058 410,997 484,494 265,177 ii 358,790 340,714 174,368 285,655 64,371 215,215 189,680 215,178 216,208 48,770 25,718 3,899 iii 3,636,593 1,037,868 78,897,813 38,435,213 39
(i) (ii) 2019 (iii) 5 12 31 2018 2017 306,954 329,348 226,114 17,027 29,426 (144,482) 125,649 (6,294) 104,758 4,208 25,099 (1,485) (7,819) 198,762 45,585 (222,264) (61,000) (9,329) (3,641) 748,356 208,260 40
6 (a) 20182017 12 31 12 31 2018 2017 (115,477,171) (18,916,617) 2,723,795 1,528,826 (42.40) (12.37) (b) 20182017 12 31 20182017 12 31 7 41
16.5%20182017 12 31 2008 1 1 25% 15% 12.5% 2018 25% 2008 1 1 10% 5%5% 2018 2017 12 31 42
12 31 2018 2017 (251,390) (18,560) 249,502 (35,658) (1,888) (54,218) 8 2016 12 31 2018 2017 6,241,972 5,919,594 25,099 6,241,972 5,944,693 43
2017 12 31 595.0% 2018 12 31 62 3532 9 2017 12 31 9 334.5% 2018 12 31 40 10 12 31 2018 2017 3,093,225 3,095,645 171,500 269,500 1,213,550 1,120,726 327,167 353,167 606,418 82,310 737,384 36,850 21,159 25,179 27,705,601 14,869,597 33,876,004 19,852,974 44
2017 12 31 19970.6% 2018 12 31 339 134 20183 11 12 31 2018 2017 590,409 461,955 (124,069) (29,461) 466,340 432,494 2017 12 31 2018 1 1 9 45
90150 12 31 2018 2017 281,353 283,649 126,376 84,428 56,574 56,958 2,037 7,459 466,340 432,494 12 12 31 2018 2017 611,233 833,500 13,766 624,999 833,500 2,856,343 1,891,948 222,267 222,267 24,221 51 3,102,882 2,114,215 3,727,881 2,947,715 46
2017 12 31 2926.5% 2018 12 31 37 13 12 31 2018 2017 5,340,963 2,666,799 20182017 12 31 12 31 2018 2017 5,067,050 1,995,402 168,162 662,168 102,764 2,523 2,987 6,706 5,340,963 2,666,799 2017 12 31 27100.3% 2018 12 31 53 47
14 2015 10 6 1,954,217,809 A-1 A-11 2015 113.86B B 2015 11 2016 8 801,039,606 2017 105.59C 733,575,936 2018 4 167,703,791 A-12 A-12 2,121,921,600A-1 A-12 A B 2018 1 1 101,418,292 A-12 5,888,472 104,792,071 186,013 8,336,605 (220,435,440) 2018 12 31 2017 1 1 63,687,007 C 27,109,363 15,138,824 (4,516,902) 2017 12 31 101,418,292 48
2018 9 20 2017 12 31 23% 28% 3% 2.5% 4% 13% 40% 40% A B C 15 2018 4 4 100% 12,821 49
2018 4 4 9,443,771 167.7 (i) 5,888,472 (ii) 231,736 15,563,979 834,532 392,374 380,000 159,115 21,550 12,880 1,600,000 840,000 660,000 478,265 5,349,198 1,918,191 599,743 (414,715) (390,000) (497,907) (246,945) (8,080) (35,176) (8,125,057) (785,467) 2,742,501 12,821,478 15,563,979 50
i A-12 A-12 ii 2015 2018 4 4 1,507 4,5502018 12 31 2018 1 1 2018 12 31 65,492 117,067 16 20182017 12 31 2018 12 31 2019 5 21 2019 5 162019 5 21 2019 5 15 183 17 1712-1716 51
2018 12 31 2018 12 31 A.2.12018 12 31 A.2.1 52
2018 12 31 (www.hkexnews.hk) (about.meituan.com) 2019 3 11 53
2018 8 30 A 0.00001 A A B 0.00001 B B 622 Internet Plus Holdings Ltd. 2015 9 25 54
B 2018 9 20B B GEM mobike Ltd.2015 4 2 55
(i) (ii) (iii)(iv) A B 15 % 56
(i) (ii) (iii) (iv) ERP POS (i) (ii) (iii) (iv) 57