机💃(ji)构🙅(gou)：国🚦(guo)海🕔(hai)证🗡(zheng)券🐽(quan)研🙌(yan)究❎(jiu)员🙊(yuan)：陈📢(chen)梦👙(meng)竹🌴(zhu)/张🏀(zhang)娟🔇(juan)娟🕞(juan)/罗📺(luo)婉🦎(wan)琦🏀(qi)事🔯(shi)件🤾(jian):2024 年⏯(nian)6 月📱(yue)6 日🆕(ri)公⛲(gong)司📬(si)发🍥(fa)布🕍(bu)2024Q1 财🗄(cai)报🏻(bao)，2024Q1 实😾(shi)现⏬(xian)营🐛(ying)收🤢(shou)733 亿🎒(yi)元🌐(yuan)（YoY+25%，QoQ-1%），营🤬(ying)业🥌(ye)利🔃(li)润👥(run)52 亿🚇(yi)元🖐(yuan)（YoY+45%，QoQ+196%），净🍺(jing)利🏦(li)润😲(run)54 亿🌥(yi)元🌵(yuan)（YoY+60%，QoQ+142%），Non-GAAP EBITDA 81 亿🍐(yi)元🔐(yuan)（YoY+29%，QoQ+116%），Non-GAAP 归🗿(gui)母👜(mu)净🥜(jing)利⛎(li)润🦎(run)75 亿🚍(yi)元🤔(yuan)（YoY+36%，QoQ+71%）
核🎾(he)心📚(xin)观⏲(guan)点👕(dian):整🙆(zheng)体😟(ti)业⛵(ye)绩🖖(ji)表🧞(biao)现🍥(xian)：2024Q1 营🎖(ying)收🏿(shou)超🥐(chao)预👒(yu)期🌷(qi)，主⬜(zhu)要🛹(yao)由⛎(you)于🤭(yu)公🕳(gong)司🔠(si)精🔬(jing)细👒(xi)化🐩(hua)营🥊(ying)销🛏(xiao)及🍕(ji)补🕑(bu)贴🖼(tie)策🤭(ce)略🏓(lve)推🌑(tui)动🏧(dong)核🤮(he)心👝(xin)本💂(ben)地🚨(di)商⏸(shang)业🎈(ye)增💣(zeng)长🏕(chang)超💛(chao)预🥏(yu)期🍗(qi)。2024Q1 营🎹(ying)业🦊(ye)利👁(li)润🍥(run)及🕧(ji)Non-GAAP 归🌡(gui)母🙌(mu)净🥏(jing)利🤭(li)润⚡(run)均🎑(jun)大🕗(da)超🛣(chao)彭🚶(peng)博🧖(bo)一🐇(yi)致🕸(zhi)预🚮(yu)期⚫(qi)，主⤵(zhu)要🍀(yao)由😎(you)于🛤(yu)广⛹(guang)告😫(gao)变🧝(bian)现🥚(xian)率🐌(lv)提💻(ti)升🍗(sheng)及💘(ji)补😬(bu)贴🦊(tie)优🎻(you)化📷(hua)推🤫(tui)动🐯(dong)核☔(he)心🆗(xin)本😵(ben)地⬇(di)商🗨(shang)业🏏(ye)经🌄(jing)营🍧(ying)利⬆(li)润😌(run)超🥉(chao)预🙃(yu)期😷(qi)。核😤(he)心🎑(xin)本🗼(ben)地💧(di)商😐(shang)业🔢(ye)：2024Q1 核🍫(he)心🍻(xin)本🚯(ben)地🍪(di)商🗡(shang)业🚈(ye)营🌩(ying)收🔦(shou)同🍊(tong)比🍃(bi)增🐘(zeng)长🐧(chang)27%至🦈(zhi)546 亿😔(yi)元🍗(yuan)，即🛺(ji)时🤲(shi)配🙅(pei)送🥟(song)订🕤(ding)单🔪(dan)量🚆(liang)同🍇(tong)比🧓(bi)增🦈(zeng)长🚁(chang)28%至📘(zhi)55 亿⛩(yi)单🧚(dan)，主🔤(zhu)要👟(yao)由🤖(you)供🎪(gong)应🔵(ying)端🔪(duan)持😸(chi)续🚘(xu)优💑(you)化🍓(hua)叠📵(die)加😷(jia)精👪(jing)细📼(xi)化😧(hua)营🍥(ying)销💃(xiao)策👻(ce)略🤯(lve)所🌦(suo)推📶(tui)动🗄(dong)。2024Q1 核➗(he)心💛(xin)本💗(ben)地🌔(di)商🚛(shang)业📰(ye)经👉(jing)营🍔(ying)利😿(li)润💕(run)同🗨(tong)比🌡(bi)增😎(zeng)长🚑(chang)3%至😪(zhi)97 亿🦀(yi)元🔲(yuan)，超🖐(chao)过🥕(guo)彭🧤(peng)博🤤(bo)一📳(yi)致⚽(zhi)预🏘(yu)期😩(qi)的🎀(de)84 亿➖(yi)元🔗(yuan)，主🤑(zhu)要🅾(yao)受💘(shou)益💉(yi)于👶(yu)广🥫(guang)告😘(gao)变✳(bian)现⛽(xian)能🌀(neng)力🐉(li)提🚺(ti)升🦄(sheng)和🤼(he)补🎽(bu)贴🎂(tie)效🎂(xiao)率🅰(lv)优🐲(you)化🤜(hua)，部🗂(bu)分🧠(fen)抵👔(di)消🗻(xiao)AOV 下🌓(xia)滑🤗(hua)的🤘(de)影🐜(ying)响📜(xiang)。①餐💜(can)饮⛰(yin)外🚖(wai)卖🗿(mai)业🖼(ye)务🔸(wu)：2024Q1 餐✉(can)饮🎒(yin)外🍇(wai)卖🔕(mai)业👓(ye)务🦃(wu)增🦑(zeng)长😽(chang)稳🍑(wen)健🚧(jian)，我👉(wo)们💌(men)测⚓(ce)算🦅(suan)2024Q1外🌧(wai)卖📯(mai)单💟(dan)量👎(liang)同🤡(tong)比🎦(bi)增🎥(zeng)长💕(chang)24%，主🕋(zhu)要👊(yao)由📚(you)于📕(yu)公🚞(gong)司🚢(si)持🏔(chi)续🏊(xu)优👊(you)化🐵(hua)营🗑(ying)销🤰(xiao)及😝(ji)补🐓(bu)贴🎙(tie)策🚞(ce)略😥(lve)，通🏒(tong)过👇(guo)神😯(shen)抢➡(qiang)手🍗(shou)、拼😰(pin)好💆(hao)饭🛬(fan)、品🌔(pin)牌👌(pai)卫🏣(wei)星📥(xing)店🐴(dian)等💿(deng)多🔎(duo)种⏺(zhong)模🤲(mo)式😦(shi)扩🌽(kuo)大📓(da)业💯(ye)务💼(wu)覆🈚(fu)盖🚒(gai)范🤽(fan)围🚶(wei)，满♈(man)足👿(zu)用⚓(yong)户🚲(hu)多🆑(duo)样🚔(yang)化🏗(hua)需👗(xu)求🤵(qiu)，带🤦(dai)动🤢(dong)商😪(shang)户👣(hu)规✔(gui)模🤵(mo)、用🚝(yong)户👝(hu)规👵(gui)模🚮(mo)及🍇(ji)交🤣(jiao)易🚀(yi)频🧐(pin)次🈶(ci)持😙(chi)续💈(xu)增🐄(zeng)长📧(chang)，美🥤(mei)团〽(tuan)外🤞(wai)卖📤(mai)年🎆(nian)活🌛(huo)跃🔺(yue)用🍹(yong)户😥(hu)数🧙(shu)增📞(zeng)长👏(chang)至🥖(zhi)接👬(jie)近🎊(jin)5 亿🚤(yi)。②美🍃(mei)团🧖(tuan)闪📽(shan)购🌀(gou)业⏸(ye)务🐨(wu)：2024Q1 美🚨(mei)团🌭(tuan)闪⌚(shan)购💮(gou)业😘(ye)务🍂(wu)保♈(bao)持🍽(chi)强🕰(qiang)劲🌮(jin)增👬(zeng)长🕗(chang)，日💸(ri)均🌂(jun)订📫(ding)单⌛(dan)量🕌(liang)达🚎(da)840 万🎬(wan)，订⚪(ding)单🖌(dan)量🏈(liang)同👨(tong)比☝(bi)增🥢(zeng)速🈁(su)超😰(chao)过💇(guo)外🖕(wai)卖👋(mai)增🐾(zeng)速🧙(su)的⬅(de)两🐣(liang)倍🍼(bei)，主🍇(zhu)要🌨(yao)由🎳(you)年🏃(nian)度😗(du)活🚍(huo)跃🚄(yue)用🕌(yong)户🌘(hu)同🚏(tong)比Ⓜ(bi)增📁(zeng)长🚳(chang)超⬅(chao)10%及🤔(ji)交🎧(jiao)易✝(yi)频🏪(pin)次⛄(ci)显🥙(xian)著🌝(zhu)提🚕(ti)升🏅(sheng)所🍦(suo)驱🏊(qu)动😘(dong)，闪🙍(shan)购🏽(gou)占🏛(zhan)外🔙(wai)卖🙅(mai)用📦(yong)户👐(hu)的🌨(de)渗♏(shen)透♍(tou)率💀(lv)持🎪(chi)续📰(xu)提🦋(ti)高🗞(gao)jie ⬜(jie)zhi 🐖(zhi)2024Q1，mei 🔙(mei)tuan 🏣(tuan)shan 🤗(shan)dian 🐍(dian)cang 🚓(cang)yue 🚿(yue)7000 jia 🛣(jia)，ding 🐍(ding)dan 🤢(dan)liang 🚿(liang)zhan 🐌(zhan)bi ➡(bi)chi 🥩(chi)xu 😂(xu)ti 〽(ti)sheng 🥞(sheng)，jia 🔵(jia)su 🐰(su)shen 💲(shen)tou 🐘(tou)di 📜(di)xian 🥁(xian)shi 💘(shi)chang ⛩(chang)。③dao ➗(dao)dian 🐤(dian)jiu 🧔(jiu)lv 📿(lv)ye 🈲(ye)wu 🐰(wu)：2024Q1 dao 🏡(dao)dian 👉(dian)jiu 💂(jiu)lv 🈹(lv)ye 🛩(ye)wu 🔕(wu)biao 🚐(biao)xian 🦇(xian)liang 🎥(liang)yan 🔁(yan)，GTV tong 🌫(tong)bi 😪(bi)zeng 🕹(zeng)chang 🚗(chang)chao 💑(chao)60%，nian 🚆(nian)du 🐡(du)jiao 🔺(jiao)yi 🤪(yi)yong 🛃(yong)hu 🙊(hu)tong 💍(tong)bi 🤨(bi)zeng ⏺(zeng)chang 🙏(chang)chao 📚(chao)37%，nian 🧛(nian)du 🛰(du)huo 👎(huo)yue 🐒(yue)shang ⛅(shang)jia 🚌(jia)chuang 🚠(chuang)li 🍉(li)shi 📩(shi)xin ⛑(xin)gao 🐋(gao)，wo 🤢(wo)men 📋(men)ce 🍆(ce)suan 🎊(suan)2024Q1 dao 🎤(dao)dian 👪(dian)jiu 🏾(jiu)lv 💜(lv)ying 🍾(ying)shou 😾(shou)tong 🌗(tong)bi 🎩(bi)zeng 📂(zeng)chang 🚠(chang)33%，zhu 🐒(zhu)yao 🆎(yao)shou 🥍(shou)yi 👷(yi)yu 📈(yu)gong 🎽(gong)si 🕤(si)chi 👏(chi)xu 🎚(xu)you 🐩(you)hua 📍(hua)ying 🦓(ying)xiao 😲(xiao)ji 🚵(ji)yun 🏆(yun)ying 🈹(ying)ce 🕋(ce)lve 🔩(lve)，quan 🛹(quan)guo 🗑(guo)fan 🧓(fan)wei 👲(wei)nei ❄(nei)shi 🕳(shi)shi ⬇(shi)zhi 🌝(zhi)ying 🍺(ying)mo 👰(mo)shi 🎵(shi)tui 🍀(tui)dong 🌉(dong)di 🤱(di)xian 👱(xian)shi 🙊(shi)chang 🏈(chang)shen 🕹(shen)　　tou 🎼(tou)lv 🥂(lv)jia 🧛(jia)su 🐙(su)ti 🙆(ti)sheng 📲(sheng)，yi 🎋(yi)ji 🍱(ji)du 🖐(du)guo 👒(guo)nei 🍳(nei)jiu 💾(jiu)dian 💩(dian)jian 🚝(jian)ye 🙆(ye)liang 🐯(liang)ji 🐩(ji)jiao 💍(jiao)yi ✍(yi)jin 📏(jin)e 🚼(e)tong 👘(tong)bi 🅰(bi)jun 〰(jun)shi 😃(shi)xian ⏱(xian)qiang 🗡(qiang)jin 📻(jin)zeng 🍚(zeng)chang 🏕(chang)。2024Q1 dao 💑(dao)dian 🈺(dian)jiu 🦉(jiu)lv 🛶(lv)ye 🥛(ye)wu 🚁(wu)shou 🚝(shou)ru 🌛(ru)zeng 💉(zeng)su 🐇(su)di 🗃(di)yu 🍞(yu)GTV zeng 🚾(zeng)su 🥈(su)zhu 🔩(zhu)yao ⏲(yao)you 🗿(you)yu 🕙(yu)ping 💡(ping)tai 📥(tai)zhen 📣(zhen)dui 📔(dui)shang 🐸(shang)jia 🌸(jia)de 🧕(de)ji 🌀(ji)li 🎰(li)cuo 🥀(cuo)shi 📽(shi)zeng 🍯(zeng)jia 🧠(jia)yi ➗(yi)ji 🍼(ji)ding 🧗(ding)yue 🕓(yue)shi 🏨(shi)fu 🌭(fu)wu 🏀(wu)fei 🎐(fei)jiang 🗝(jiang)di 🚖(di)，dan 😬(dan)shou 🚎(shou)ru 🕞(ru)yu 🤐(yu)GTV de 👭(de)zeng 🌾(zeng)su 🛥(su)cha 🤙(cha)ju 👎(ju)huan 🚀(huan)bi 🎰(bi)you 👻(you)suo 👗(suo)suo 🥏(suo)xiao ❄(xiao)。xin 🏿(xin)ye 📋(ye)wu ⏱(wu)ji 🥑(ji)qi 🐍(qi)ta ⚓(ta)：2024Q1 xin 💁(xin)ye 🌽(ye)wu 🐔(wu)ying 🎮(ying)shou 🐭(shou)tong 🐙(tong)bi 🍦(bi)zeng 😮(zeng)chang 🌨(chang)19%zhi 👿(zhi)187 yi 💕(yi)yuan 😾(yuan)，jing 🏛(jing)ying 🌠(ying)yi 🍩(yi)li 📦(li)-28 yi 📒(yi)yuan 😅(yuan)（dui 🥡(dui)ying 🗄(ying)2023Q1 kui 🍲(kui)sun 👾(sun)50 yi 🚍(yi)yuan 📧(yuan)），jing 😐(jing)ying 🥂(ying)yi 🚶(yi)li 🏰(li)lv ✊(lv)-15%（YoY+17pct），jing 🛺(jing)ying 😭(ying)kui 🚁(kui)sun 📲(sun)lv 🖇(lv)gai 🤤(gai)shan 👴(shan)zhu 💅(zhu)yao 🛶(yao)de 🎸(de)yi 💹(yi)yu 📔(yu)ye 🤒(ye)wu 💜(wu)jing 🌚(jing)ying 👣(ying)xiao 🤵(xiao)lv 🥞(lv)ti 🔵(ti)gao 🌏(gao)。2024Q1 mei ⏲(mei)tuan 🌬(tuan)you 🧔(you)xuan 🏽(xuan)ye 🏖(ye)wu 🎛(wu)yun 🚛(yun)ying 👶(ying)xiao 🐙(xiao)lv 🙃(lv)xian 👩(xian)zhu 🐓(zhu)ti 🧑(ti)sheng 🐄(sheng)，gong 🌆(gong)si 🍊(si)tong 📱(tong)guo 🐐(guo)ti 🕹(ti)gao 📨(gao)shang 📡(shang)pin 🗼(pin)jia ⏭(jia)jia 📘(jia)lv 🚸(lv)ji ⬆(ji)ying 📬(ying)xiao 🎩(xiao)xiao 🦎(xiao)lv 🥁(lv)、jiang 🤦(jiang)di 🛳(di)jian 🌴(jian)jun 🦄(jun)lv 🙈(lv)yue 🏌(yue)cheng 💗(cheng)ben 🏍(ben)，tui 🖐(tui)dong 🛷(dong)jing 🖤(jing)ying 🧒(ying)kui 🐿(kui)sun 🥌(sun)huan 📫(huan)bi 💦(bi)ji 🥓(ji)tong 🥑(tong)bi 🦁(bi)jun 💶(jun)da 🥋(da)fu 🏋(fu)shou 🙀(shou)zhai 📅(zhai)，yu 🕧(yu)ji 🚕(ji)2024 nian 🛤(nian)di 🛡(di)er 👘(er)ji 🚜(ji)du 😵(du)ji 💍(ji)xia 💰(xia)ban 👈(ban)nian 🆖(nian)ye 🦆(ye)wu 🍦(wu)kui 🐇(kui)sun 🤶(sun)jiang 📤(jiang)ji 🔥(ji)xu 🏎(xu)shou 🐆(shou)zhai 🔖(zhai)。ying 🈂(ying)li 🏜(li)yu 🌸(yu)ce 📦(ce)he 🗑(he)tou 📤(tou)zi 😰(zi)ping 😚(ping)ji ➰(ji)：chang 💟(chang)qi 🐸(qi)kan 🐶(kan)hao 🛃(hao)gong 🔴(gong)si 🔲(si)zai 🚖(zai)ji 📧(ji)shi 🎹(shi)pei 🔮(pei)song 🚣(song)ling 👒(ling)yu 🚑(yu)de 🌘(de)he 🐠(he)xin 🎂(xin)bi 🍞(bi)lei 🤨(lei)，qie 🎉(qie)kao 🚆(kao)lv 🆔(lv)dao 🏤(dao)ben 🍙(ben)di 🍧(di)sheng 👤(sheng)huo 🔸(huo)xing 🌆(xing)ye ✨(ye)jing 🚶(jing)zheng 🌑(zheng)hui 🏫(hui)gui 🏠(gui)li 🏉(li)xing 🔁(xing)yi 🌒(yi)ji 🤛(ji)xin 🍣(xin)ye ⏰(ye)wu 🏤(wu)de 🔕(de)jian 💶(jian)kui 😭(kui)yu 📊(yu)qi 🧘(qi)，wo 🐎(wo)men 📤(men)tiao 🗳(tiao)zheng 💜(zheng)gong 🎨(gong)si 🔒(si)2024-2026 nian 📡(nian)ying 🍵(ying)shou 🏖(shou)yu 📱(yu)ce ⚓(ce)wei 🏻(wei)3,298/3,845/4,369 yi 🌦(yi)yuan 🛌(yuan)，shang 🚼(shang)tiao 🌏(tiao)2024-2026 nian 🥅(nian)gui 🔃(gui)mu 📆(mu)jing ⛪(jing)li 🎖(li)run 🈲(run)yu 🍅(yu)ce 📒(ce)wei 🎂(wei)297/414/547 yi 🎅(yi)yuan 🐋(yuan)，Non-GAAP gui 📠(gui)mu 🐟(mu)jing 🎐(jing)li 👺(li)run ✂(run)yu 🐍(yu)ce 😈(ce)wei ⛓(wei)375/541/669 yi 🎮(yi)yuan 👉(yuan)，dui ㊗(dui)ying 📉(ying)tan 🍸(tan)bo 🅿(bo)EPS wei 👁(wei)4.66/6.44/8.42yuan 😠(yuan)；gen 🌏(gen)ju 🥀(ju)SOTP gu 😌(gu)zhi 🤯(zhi)fa 🧔(fa)，wo 📖(wo)men 😖(men)gei 🎞(gei)yu 🕞(yu)2024 nian 📎(nian)mei 😢(mei)tuan ⛔(tuan)he 👰(he)ji 🌆(ji)mu 👨(mu)biao 🌎(biao)shi 🔴(shi)zhi 🏨(zhi)8,009yi 🍜(yi)yuan 😿(yuan)ren 🔇(ren)min ㊙(min)bi 📍(bi)，dui 📗(dui)ying 🎆(ying)mu 📦(mu)biao 🏏(biao)jia 🌭(jia)128 yuan 🚕(yuan)ren 🕒(ren)min ⚫(min)bi 🔉(bi)/138 gang 🍏(gang)yuan 😛(yuan)，wei 😼(wei)chi 🔼(chi)“mai 👳(mai)ru 🕦(ru)”ping 📃(ping)ji ✒(ji)。feng 🕍(feng)xian 🎒(xian)ti 🗃(ti)shi 🎏(shi)：hong 😚(hong)guan 🐉(guan)jing 🏨(jing)ji 🏀(ji)zeng 🏡(zeng)chang 🎈(chang)bu 🛴(bu)ji 🐑(ji)yu 🧔(yu)qi 🐜(qi)；xiao 💦(xiao)fei 🏿(fei)fu 🚵(fu)su 🏸(su)bu 🌇(bu)ji 🎂(ji)yu 🚂(yu)qi 🛸(qi)；ben 🍦(ben)di 🔟(di)sheng 📚(sheng)huo 💴(huo)he 🚅(he)ling 🌨(ling)shou 🏌(shou)xing 👅(xing)ye 💪(ye)jing 🌋(jing)zheng 🐯(zheng)jia 🔍(jia)ju 😊(ju)，xing ➡(xing)ye ✒(ye)zeng 📵(zeng)chang ⛔(chang)bu 🆖(bu)ji 🐀(ji)yu 🎴(yu)qi ⛰(qi)；mei 🖥(mei)tuan 💢(tuan)you 😷(you)xuan 🎧(xuan)deng 🌬(deng)xin 🏯(xin)ye 🚊(ye)wu 🚠(wu)UE gai 😈(gai)shan 🔅(shan)bu 🔳(bu)ji 🔍(ji)yu 🚵(yu)qi 👐(qi)deng 👳(deng)。