Meituan intends to buy back up to $1 billion in shares

Wang Xing of Meituan said on November 29 that the board of directors has approved the repurchase of up to US$1 billion (approximately RMB 7.16 billion) in shares, but the specific implementation will depend on the company’s cash position as Meituan is planning Invest in new projects and explore overseas investments. The share repurchase plan will begin on December 1

Starting from December 1, 2023, in accordance with the general shares approved by the company’s shareholders at the annual general meeting of shareholders held on June 30, 2023 Repurchase Authorization, and the authorization to renew or renew upon shareholder approval, as applicable, the Company will from time to time purchase shares in the open market in an aggregate amount not to exceed $1 billion

Meituan released its financial report for the third quarter of 2023 yesterday. Revenue for the quarter was 76.47 billion yuan, compared with 62.62 billion yuan for the same period last year, a year-on-year increase of 22.1%, and market expectations of 76.009 billion yuan.

Meituan mentioned in the announcement document, “The board of directors believes that the company’s current financial resources will enable it to implement stock repurchases while maintaining a solid financial position.”

Related reading :

According to market expectations, Meituan’s revenue in the third quarter of 2023 reached 76.47 billion yuan, a year-on-year increase of 22.1%, exceeding market expectations

Advertising statement: External information contained in the article Jump links (including but not limited to hyperlinks, QR codes, passwords, etc.) are used to convey more information and save selection time. The results are for reference only. All articles on this site include this statement.

The above is the detailed content of Meituan intends to buy back up to $1 billion in shares. For more information, please follow other related articles on the PHP Chinese website!