A look at Chinese food delivery giant Meituan's subsidy war with Alibaba and JD.com, leading Meituan to a big Q3 loss and internal debate over global expansion
Competition from Alibaba and JD.com for fast-growing instant retail market has hit the Beijing-based group
Meituan reports Q3 revenue up 2% to $13.4B and a $2.3B adjusted net loss, worse than $1.9B est., its first loss since 2022, amid a price war with JD and Alibaba
Luz Ding / Bloomberg :
Meituan reports Q3 revenue up 2% to $13.4B and a $2.3B adjusted net loss, worse than $1.9B est., its first loss since 2022, amid a price war with JD and Alibaba
Meituan posted its first loss in almost three years, reflecting the toll of a three-way battle with Alibaba Group Holding Ltd …
Chinese food delivery giant Meituan reports Q1 revenue up 18.1% to ~$12.1B, vs. $12B est., net profit up 87.3% YoY to ~$1.4B, as it expands outside China
Ben Jiang / South China Morning Post :
JD.com's costly bid to challenge Meituan in food delivery, while the latter enters the e-commerce space, has led to a loss of ~$70B in combined market value
Update Coco Feng / South China Morning Post : JD.com's billionaire founder delivers food in publicity stunt to challenge Meituan Fortune : JD.com's delivery clash with Meituan may worsen $70 billion r...
Chinese food delivery giant Meituan reports Q4 revenue up 20% to ~$12.21B, vs. $12.1B est., net profit up 180% YoY to ~$858M, even as it faces stiff competition
Kimberley Kao / Wall Street Journal :
Meituan, Ele.me, and other Chinese food delivery companies plan to offer social security benefits to riders after JD's February move, amid government pressure
Financial Times :
Chinese food delivery giant Meituan reports Q3 revenue up 22.4% YoY to $12.9B, net profit up 3x YoY to $1.78B, and core delivery business up 20.2% YoY to $9.57B
Casey Hall / Reuters :
Chinese food delivery giant Meituan reports Q3 revenue up 22.4% YoY to $12.9B, net profit up 3x YoY to $1.78B, and core delivery business up 20.2% YoY to $9.57B
China's largest food delivery firm Meituan (3690.HK) posted a bigger-than-expected 22.4% rise in third-quarter revenue on Friday, defying sluggish Chinese consumption.
Chinese meal delivery giant Meituan reports Q2 revenue up 21% YoY to ~$11.6B, above $11.3B est., as its core business expanded; its stock is up ~25% in 2024
Claire Che / Bloomberg :