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.

Douyin doesn't seem to have posed as big of a threat to Meituan as what was feared by the market initially. Meituan's financial performance for the short term is likely to be negatively affected by the unfavorable economic environment in China. I still have a Hold rating for MPNGF, as my view of Meituan's prospects is mixed.

Meituan: Competitive Threat And Economic Weakness In The Limelight

Comments from the food delivery giant's CEO comments could be a significant indication of the impact the country's economic pain on third-quarter earnings and beyond.

China's Meituan Warns of a Slowdown. It's an Early Sign of the Pain Ahead.

Meituan shares fell 5% Friday after CEO Wang Xing warned of a food delivery slowdown in the third quarter during the firm's latest earnings call on Thursday.

Shares of China's food delivery leader Meituan fall more than 5% on weaker Q3 outlook

Meituan (OTCPK:MPNGF) Q2 2023 Earnings Conference Call August 24, 2023 7:00 AM ET Company Participants Scarlett Xu - Vice President and Head of Capital Markets Xing Wang - Chairman and Chief Executive Officer Shaohui Chen - Senior Vice President and Chief Financial Officer Conference Call Participants Ronald Keung - Goldman Sachs Gary Yu - Morgan Stanley Thomas Chong - Jefferies Alicia Yap - Citigroup Yang Bai - CICC Operator Thank you for standing by, and welcome to the Meituan Second Quarter 2023 Earnings Conference Call. All participants will be in a listen-only mode.

Meituan (MPNGF) Q2 2023 Earnings Call Transcript

HONG KONG , Aug. 24, 2023 /PRNewswire/ -- Meituan (HKG: 3690) (the "Company"), a leading technology-driven retail company in China, today announced the unaudited consolidated results of the Company for the three and six months ended June 30, 2023. Company Financial Highlights During this quarter, our revenues increased by 33.4% to RMB68.0 billion from RMB50.9 billion for the same period of 2022.

Meituan Announces Financial Results for the Three and Six Months Ended June 30, 2023

Alibaba

Bilibili

JD.com

Shares of Chinese internet platform companies jumped in Hong Kong Thursday as investors welcomed Beijing's latest signal supporting the sector.

Chinese internet stocks jump as Beijing signals support

Meituan has launched a sister app in Hong Kong, its first roll-out outside mainland China — but analysts are skeptical it can quickly carve out significant market share.

Meituan's KeeTa joins Hong Kong's food delivery race — but analysts are skeptical

One of China's most highly anticipated artificial intelligence startups is undergoing a significant change of direction. Light Year, which was founded merely four months ago by Wang Huiwen, a co-founder of Meituan, with the ambition of becoming the “OpenAI for China”, is getting bought out.

Meituan buys founder's months-old ‘OpenAI for China' for $234M

Meituan (OTCPK:MPNGF) Q1 2023 Earnings Conference Call May 25, 2023 7:00 AM ET Company Participants Scarlett Xu - Vice President and Head of Capital Markets Xing Wang - Chairman and Chief Executive Officer Shaohui Chen - Senior Vice President and Chief Financial Officer Conference Call Participants Ronald Keung - Goldman Sachs Thomas Chong - Jefferies Gary Yu - Morgan Stanley Yang Bai - CICC Alex Yao - JPMorgan Operator Thank you for standing by, and welcome to the Meituan First Quarter 2023 Earnings Conference Call. All participants will be in a listen-only mode.

Meituan (MPNGF) Q1 2023 Earnings Call Transcript

HONG KONG , May 25, 2023 /PRNewswire/ -- Meituan (HKG: 3690) (the "Company"), a leading technology-driven retail company in China, today announced the unaudited consolidated results of the Company for the three months ended March 31, 2023. Company Financial Highlights During the first quarter of 2023, our revenues increased by 26.7% to RMB58.6 billion from RMB46.3 billion for the same period of 2022.

Meituan Announces Financial Results for the three months ended March 31, 2023

KeeTa starts operation in Mong Kok and Tai Kok Tsui areas HONG KONG , May 21, 2023 /PRNewswire/ -- Meituan (HKG: 3690) (the "Company"), a leading technology-driven retail company in China, today introduced KeeTa, a new food delivery brand as it officially launches in the Hong Kong market, to provide residents with more customized, efficient and reliable delivery services. Following the initial launch in Mong Kok and Tai Kok Tsui, the Company expects KeeTa to complete full coverage of the Hong Kong market by the end of this year.

Meituan Launches Food Delivery Brand KeeTa Amid Hong Kong Debut

Meituan is a leading internet platform in China. It has plenty of opportunities to grow its existing businesses.

2 Things Smart Investors Know About Meituan Stock

HONG KONG , March 24, 2023 /PRNewswire/ -- Meituan (HKG: 3690) (the "Company"), a leading technology-driven retail company in China, today announced the audited consolidated results of the Company for the year ended December 31, 2022. Company Financial Highlights During the full year of 2022, our revenues increased by 22.8% to RMB220.0 billion from RMB179.1 billion in 2021.

Meituan Announces Financial Results for the Year Ended December 31, 2022

Chinese tech giant Meituan plans to restructure its ride-hailing service and reduce the number of staff it has working on the platform, according to an internal letter seen by Reuters on Monday and two sources.

China's Meituan to restructure ride-hailing unit, reduce service's staff - letter

Baidu

Global stocks have pulled back as investors reset their expectations about what the Federal Reserve will do in the coming months. In Hong Kong, the blue-chip Hang Seng (HSI) index crashed to a low of H$20,000, the lowest point since January 4.

Hang Seng index enters correction as Meituan, Baidu stocks diverge

China's food delivery business could be taking a dramatic turn as TikTok parent ByteDance pilots a food delivery service over its Douyin video app. Douyin's service allows merchants to attract food orders via short videos or livestreams, in contrast to the customer-driven ordering model used by Meituan.

Ready For A Food Fight? Douyin Poses Video Challenge To Takeout Leader Meituan

Meituan's hiring spree is in contrast to Silicon Valley technology giants from Microsoft to Alphabet that have laid off thousands of workers.

Chinese food delivery firm Meituan plans to hire 10,000 workers as U.S. tech giants ax jobs

Meituan (OTCPK:MPNGF) Q3 2022 Results Conference Call November 25, 2022 6:00 AM ET Company Participants Scarlett Xu - VP, Head of Capital Marketss Xing Wang - Chairman and Chief Executive Officer Shaohui Chen - Chief Financial Officer and Senior Vice President Conference Call Participants Thomas Chong - Jefferies Gary Yu - Morgan Stanley Ronald Keung - Goldman Sachs Ya Jiang - Citics Yang Bai - CICC Eddie Leung - Bank of America Operator Thank you for standing by, and welcome to the Meituan Third Quarter 2022 Earnings Conference Call. All participants are in a listen-only mode.

Meituan (MPNGF) Q3 2022 Earnings Call Transcript

HONG KONG , Nov. 25, 2022 /PRNewswire/ -- Meituan (HKG: 3690) (the "Company"), a leading technology-driven retail company in China, today announced the unaudited consolidated results of the Company for the three months ended September 30, 2022. Company Financial Highlights During the third quarter of 2022, our revenues increased by 28.2% to RMB62.6 billion from RMB48.8 billion for the same period of 2021.

Meituan Announces Financial Results for the Three Months Ended September 30, 2022

Chinese food delivery giant Meituan reported on Friday better than expected quarterly revenue growth of 28.2% as the company recovered from COVID-19 curbs.

China's Meituan beats quarterly revenue estimates

Tencent Holdings Limited

Investors fear Chinese President Xi Jinping's tightened grip on power will lead to continued strict policies on the tech sector.

Alibaba, Tencent shares plummet 11% alongside China tech stocks as Xi tightens grip on power

“The concern is that President Xi now has unfettered power to pass policies that are not friendly to the market,” says Justin Tang of United First Partners.

Xi Jinping's Power Grab Spooks China Investors

NetEase

The city is reeling from global headwinds compounded by Covid restrictions and Beijing's growing sway over every aspect of the financial hub.

Hong Kong's Stock Market Hit a 13-Year Low. Things Could Get Worse.

China urged platform companies to protect the rights of gig workers, according to a joint statement issued the human resources ministry and other ministries on Tuesday, after a meeting between regulators and the companies last Friday.

China urges platform companies to protect rights of gig workers

Shares in Chinese food delivery firm Meituan 3690, -5.85% slipped almost 7% on Thursday after the Financial Times reported that partial owner Tencent could sell some of its $24 billion stake in the company.

News for Meituan Stock (MPNGF)