TOPIC

/ company

Meituan

Meituan is the largest on-demand delivery-service provider in China by revenue. Its Meituan app is most commonly known for food delivery, but also provides shopping, film tickets, hotel and travel bookings, restaurant reviews, group discounts and bicycle rentals. As of 2022, the company had 6.24 million delivery riders and over 9.3 million merchants.

Chairman / President

Wang Xing

CEO / Managing Director

Wang Xing

CFO / Finance Director

Chen Shaohui

Industry

E-commerce

Website

meituan.com

Headquarters address

No. 4 Wangjing East Road, Chaoyang District, Beijing, China

Stock Code

SEHK:3690

Year founded

2010

The Exchange Square in Central. Photo: Jelly Tse

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Meituan

Hong Kong stocks rise on tech, health as mainland China turnover hits record

Alibaba Health soars over paediatric drug deal as trading volume on Shanghai and Shenzhen exchanges tops US$513 billion.

Price wars in China

Hong Kong stocks hit 7-week high as investors diversify into Chinese tech names

China food delivery platform names Jay Chou as brand ambassador, backed by lookalikes

Group of imitators including a wedding singer and pancake vendor strike internet gold by donning delivery driver uniforms; get 140 million likes.

.css-1m2rp1p{color:#34b8b5;}Opinion | Protection of vulnerable workers must be part of China’s AI strategy

Unemployment and underemployment are a double whammy that the Chinese leadership cannot ignore.

Alibaba ramps up China instant commerce push with Cainiao and Tmall tie-up

Partnership designed to expand warehouse network and boost Taobao Shangou’s rapid service as rivals Meituan and JD.com scale up facilities.

China CCTV removes short film that ‘romanticises’ food delivery work after backlash

‘Fairy tale’ video which says often dangerous job with long hours brings workers ‘closer to their dreams’ is branded ‘disgusting’ by critics.

ByteDance dominates China’s tech hiring as AI talent demand surges

ByteDance tops rivals Meituan and Alibaba in recruitments this year, according to professional social networking platform Maimai.

Apple takes China’s smartphone battle house to house with 3-hour iPhone delivery

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Power and data centres will put China ahead of US in the AI race, says investor

AI is now a race to build data centres and secure electricity, says investor Allen Zhu, who argues China’s energy push puts it ahead.

Hong Kong stocks end higher as China stimulus hopes spark property rally

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Hong Kong stocks end 4-day rising streak as investors seek fresh catalysts

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Hong Kong stocks post longest win streak in 2 weeks

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Credit also goes to the Competition Commission for leaning on the company to help create a more level playing field for all participants.

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Hong Kong stock decline deepens on AI valuation concerns, Fed rate outlook

The Hong Kong stock benchmark’s 1.7 per cent slump on Tuesday was its biggest since October 31.

China targets AI-powered price manipulation in new antitrust guidelines

Market regulator SAMR outlines risks of collusion, unfair subsidies and walled gardens in online platforms.

Hong Kong stocks fall as US data delay, Fed policy uncertainty hit sentiment

The US government will release nonfarm payrolls for September on Thursday, the first data since the 43-day shutdown.

Hong Kong stocks slide on soft China economic data, fading US rate cut bets

China’s October data points to a further slowdown this quarter, while a cloudy US rate cut outlook and frothy valuations dent sentiment.

Cheaper meals on the menu after delivery firm Keeta vows fair play in Hong Kong

Restaurant operators say lower commissions and fewer restrictions by food delivery platform will help them lower prices and boost business.

Hong Kong’s Keeta to end unfair commission practices after watchdog probe

Competition Commission says food delivery platform will voluntarily amend provisions, with changes to later become legally binding.

Alibaba’s ‘instant commerce’ bet pays off: Taobao hits 100 million new orders

From milk tea to smartphones in under an hour, Taobao Shangou gains traction as retail giant uses subsidies and speed to fend off rivals.

Hong Kong stocks fall for a second day as AI bubble fears hit Wall Street

Losses mirror Wall Street after Palantir Technologies tumbled 8 per cent despite beating revenue estimates.

Opinion | Protection of vulnerable workers must be part of China’s AI strategy

Explainer | As China’s companies become industry leaders, where in the world are they going?