China’s state-driven stocks, and its corporate wars abroad
China's stock market rally is fast approaching its one-year mark, with the benchmark Hang Seng and Shanghai composite indexes both up around 40%. How much longer can it last, especially given the weak state of China's economy? And internet giants Meituan and DiDi have sued each other in Brazil, where they are competing in the takeout dining market. How is this case likely to end up?
Meituan drives to Brazil in search of growth, only to crash into Chinese rival DiDi
The two Chinese internet giants have sued each other in South America’s largest nation over unfair competition related to their food delivery businesses Key Takeaways: Meituan and DiDi filed lawsuits…
INDUSTRY BRIEF: China regulators intervene in growing food delivery wars
Regulators have stepped in to try to tamp down a growing price war in China’s takeout dining sector. On the evening of May 13, the State Administration for Market Regulation…
BRIEF: Meituan to enter Brazil with $1 billion investment over five years
Food delivery giant Meituan (3690.HK) announced it will expand its Keeta overseas delivery platform into Brazil, following launches in Hong Kong and Saudi Arabia. The company said Keeta will debut…
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…
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