Meituan

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Meituan is an investment holding company, which engages in the provision of a platform that uses technology to connect consumers and merchants. It operates through the following segments: Food Delivery, In-store, Hotel, and Travel, and New Initiatives and Others. The Food Delivery segment provides food ordering and delivery services. The In-store, Hotel, and Travel segment offers merchants the ability to sell vouchers, coupons, tickets, and reservations on the firm's platform. The New Initiatives and Others segment includes revenue derived from cloud-based enterprise resource planning systems, integrated payment services, supply chain solutions to merchants, small and medium-sized merchants financing services, local transportation services, and other products and services. The company was founded by Xing Wang, Hui Wen Wang, and Rong Jun Mu in March 2010 and is headquartered in Beijing, China.

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A potential sale likely would appease Chinese authorities who have taken a tough regulatory stance on the technology sector, issuing heavy fines.

Alibaba, JD.com, and Bilibili Fall on Report Tencent to Sell Meituan Stake

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Tencent, which owns 17% of Meituan, is planning to placate domestic regulators and cash in on its eight-year-old investment, Reuters reported.

Chinese food delivery giant Meituan tanks 9% after Tencent reportedly plans to divest $24 billion stake

Shares of Hong Kong-listed food delivery service Meituan 3690, -8.73% fell as much as 10% after Reuters reported that shareholder Tencent Holdings 700, -0.73% TCEHY, -0.33% was planning to sell all or a bulk of its $24 billion stake. The report, citing four unnamed sources, said Tencent was selling to placate domestic regulators.

Meituan shares skid on report Tencent to sell most or all of its holdings

China's Tencent Holdings plans to sell all or a bulk of its $24 billion stake in food delivery firm Meituan to placate domestic regulators and monetise an eight-year-old investment, four sources with knowledge of the matter said.

Exclusive-Tencent plans to divest $24 billion Meituan stake -sources

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Alibaba Without Regulatory Risks? Buy Alibaba Sell Meituan

Meituan (OTCPK:MPNGF) Q1 2022 Earnings Conference Call June 2, 2022 7:00 AM ET Company Participants Scarlett Xu - Vice President and Head of Capital Markets Xing Wang - Chairman and Chief Executive Officer Shaohui Chen - Chief Financial Officer and Senior Vice President Conference Call Participants Ronald Keung - Goldman Sachs Eddie Leung - Bank of America Merrill Lynch Alicia Yap - Citi Group Thomas Chong - Jefferies Gary Yu - Morgan Stanley Operator Good day, and thank you for standing by. Welcome to Meituan's First Quarter 2022 Earnings Conference Call.

Meituan (MPNGF) CEO Xing Wang on Q1 2022 Results - Earnings Call Transcript

Meituan said its first-quarter net loss widened despite higher revenue, as continued investment in new businesses weighed on its bottom line.

Meituan 1Q revenue CNY46.3B vs. CNY37.0B

HONG KONG , June 2, 2022 /PRNewswire/ -- Meituan (HKG: 3690) (the "Company"), China's leading e-commerce platform for services, today announced the unaudited consolidated results of the Company for the three months ended March 31, 2022. Company Financial Highlights During this quarter, our revenues increased by 25% to RMB46.3 billion from RMB37.0 billion for the same period of 2021.

Meituan Announces Financial Results for the Three Months Ended March 31, 2022

Shares of U.S.-listed Chinese tech giants Alibaba Group Holding Ltd (NYSE: BABA), Baidu Inc (NASDAQ: BIDU), JD.Com (NASDAQ: JD), and Meituan Dianping (​​OTC: MPNGF) traded lower in Hong Kong on Wednesday at the press time.  How Big Tech Stocks Are Faring In Hong Kong Today Stocks.

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Chinese food delivery service Meituan has sent almost 1,000 extra workers to Shanghai to help supply groceries to millions of residents struggling with life under a strict Covid lockdown.

Meituan calls for backup as Shanghai's lockdown leads to scramble for food

While Meituan leaps into China's fierce e-commerce arena, its income is weakening and government and Covid pressures abound.

China's Meituan Looks to Expand Its E-Commerce Business

Meituan (MPNGF) CEO Xing Wang on Q4 2021 Results - Earnings Call Transcript

HONG KONG, March 25, 2022 /PRNewswire/ -- Meituan (HKG: 3690) (the "Company"), China's leading e-commerce platform for services, today announced the audited consolidated results of the Company for the year ended December 31, 2021. Company Financial Highlights In 2021, we upgraded our corporate strategy from "Food + Platform" to "Retail + Technology", further expanding our product and service offerings to the broader retail, connecting with more market participants, and leveraging technology to facilitate advancement across industries.

Meituan Announces Financial Results for the Year Ended December 31, 2021

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2022 is not looking any easier to many Chinese tech companies. The slew of new cyberspace regulations introduced over the past year or so, from anti-competition rules to restrictions on the use of algorithms, has prompted internet outfits of all sizes to reshape their business models and monetization strategies, dampening investor confidence.

China's tech firms in limbo amid COVID resurgence, US scrutiny

Meituan, the Chinese food delivery company, lost $26 billion in value as of Friday after regulators wanted to lower fees food platforms are charging restaurants, Financial Times says. The crackdown comes as China has had numerous government restrictions on the tech sector, mostly intended to rein in tech companies.

Meituan Loses $26B in Value as Chinese Regulators Step In

Meituan (OTC: MPNGY) shares shed ~15% after China issued new guidelines asking food delivery platforms to cut restaurant fees to reduce business costs, Bloomberg reports. Online food delivery platforms will have to offer preferential fees to restaurants in regions hit by the pandemic, as per the National Development and Reform Commission.

Meituan Shares Get Butchered As China Introduces Tougher Laws

Online food delivery group Meituan led a rout of Chinese technology company shares on Friday, as authorities announced a series of regulatory moves to boost growth while keeping financial risks under control.

New Chinese regulatory push sends Meituan, tech stocks tumbling

China's food delivery service Meituan has become the latest tech firm to let customers use central bank digital currency (CBDC) payments. As CoinTelegraph reported Friday (Jan. 28), users can link their Meituan app to a digital wallet to pay for daily services like cabs, hotel reservations and meals in restaurant.

China's Meituan to Allow CBDC Payments

Starbucks

The partnership with Meituan comes as Starbucks faces increasing competition from well-funded domestic tea and coffee chains in China such as HeyTea and Manner.

Starbucks expands coffee delivery and services in China through tie-up with Meituan

Starbucks is joining forces with Chinese tech giant Meituan to expand delivery options in its second biggest market.

Starbucks teams up with Meituan for coffee delivery in China

Starbucks Corp. (NASDAQ: SBUX) is expanding its delivery services in China by entering into a new partnership with food delivery giant Meituan (OTC: MPNGY). What Happened: Under the new partnership, Starbucks said it will offer its coffee delivery services on the Meituan platform market-wide.

Starbucks Strikes Partnership With Meituan To Expand Delivery Services In China: What You Need To Know

BEIJING (Reuters) -Starbucks said on Tuesday it has entered into a partnership with China's Meituan that will allow its Chinese customers to order coffee delivery via the super-app's platform.

Starbucks expands delivery services in China with Meituan tie-up

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Meituan backs A.I. chip start-up as Chinese tech giants pour money into semiconductors

On a congested sidewalk next to a busy mall in Shenzhen, a 20-something woman uses a smartphone app to order a milk tea on Meituan, a major food delivery company. In under ten minutes, the pearl-white drink arrives, not on the back of one of the city's ubiquitous delivery bikes, but descending from the cloudy […]

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News for Meituan Stock (MPNGF)