BRIEF: Meituan launches $13.7 billion subsidy to support merchants, consumers
Meituan (3690.HK) has pledged to invest 100 billion yuan ($13.7 billion) in the restaurant industry over the next three years, focusing on consumer subsidies, merchant support, incentives for high-quality restaurant…
BRIEF: Xiaocaiyuan’s revenue rises on surging deliveries
Budget restaurant operator Xiaocaiyuan International Holdings Ltd. (0999.HK) announced on Wednesday its revenue reached 5.21 billion yuan ($717.4 million) last year, up 14.5% year-on-year. Its net profit for the year…
FAST NEWS: Meituan repurchases 83.85 million shares
The Latest: Meituan (3690.HK) announced Wednesday that it repurchased 4.21 million shares on July 17 at prices ranging from HK$116.20 to HK$120, with a total value of HK$500 million ($64…
FAST NEWS: JPMorgan boosts Meituan stake
The latest: JPMorgan disclosed it purchased 13.83 million shares of Meituan (3690.HK) on May 31 for more than HK$1.6 billion ($205 million), raising its stake in the online food delivery…
Ready for a Food Fight? Takeout Leader Meituan Faces Video Challenge
China’s food delivery business could be taking a dramatic turn as TikTok parent ByteDance pilots a food delivery service over its Douyin video appKey Takeaways:Douyin’s service allows merchants to attract…
Meituan Delivers Tasty Profit but Predicts Tougher Times Ahead
Thanks to cost controls, online food delivery giant Meituan turned a profit in the third quarter after languishing in the red for nearly two years. But it warned that the…
As New Businesses Gather Steam, Will Meituan Deliver a Profit Next Year?
Company’s older food delivery and in-store, hotel and travel businesses are faring well, but its cash-burning new businesses dragged it into the red last year Key Takeaways: Meituan’s new businesses…
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