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

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Delivery riders sit on electric scooters while waiting for orders at a street intersection in Shenzhen, Guangdong province. Photo: Getty Images

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Meituan

Hang Seng Index briefly slips below 23,000 as Alibaba leads tech sell-off

Alibaba led Hong Kong tech stocks lower, pushing the Hang Seng briefly below 23,000 as AI and consumer worries hit sentiment.

Hong Kong stocks rebound from choppy trading triggered by turmoil in US

Dishing the dirt: official media alleges smear tactics in delivery battle

China proposes ban on ‘irrational’ food-delivery subsidies to end price wars

Regulators target predatory pricing and merchant coercion, with new rules requiring that tech giants disclose subsidy data and not disrupt the market.

Can Chinese silicon replace Nvidia? Here are 5 AI models trained on local chips

A growing number of Chinese AI labs are experimenting with shifting earlier model training phases onto domestic chips.

Alibaba and JD.com targeted in smear campaign ahead of shopping festival

Police in Sichuan say they dismantled the months-long operation ahead of the finale of the online retail ‘618’ festival.

China summons executives of Walmart-owned Sam’s Club over ‘food-safety issues’

Members-only supermarket chain urged to ‘strictly fulfil’ its corporate responsibilities.

Huawei chips refine DeepSeek model in leap for China’s AI self-reliance

While Chinese chipmakers have found success in supporting AI inference, they are struggling with the far more complex process of training.

Is Hong Kong losing its tech edge to the mainland’s AI boom?

Chinese investors are shifting from Hong Kong to mainland stocks, driven by AI opportunities and better returns.

How Meituan’s US$1b bets on AI, robotics outshine quarterly loss

Investment windfall provides cushion as core-business margins face intense pressure from battle with Alibaba Group Holding and JD.com.

Tencent shares jump 10% on expectations of AI agent within WeChat

An AI agent would leverage the app’s ecosystem of mini-programs, payments, content and commerce for 1.4 billion users.

Meituan reports third consecutive quarterly loss amid rivalry in food delivery

CEO Wang Xing says Keeta food delivery business achieved ‘meaningful efficiency gains’ in both Hong Kong and Saudi Arabia in the quarter.

Student recalls eye-opening trip with American peers that drew praise from Xi

CUHK undergraduate Liu Runjie describes how Chinese and US students reached common understanding during youth exchange trip.

HKEX revamps Tech 100 Index as benchmark struggles to keep pace with AI rally

Seven firms including Hesai, Geekplus and Deepexi join the index as investors question whether local benchmarks reflect fast-rising AI sector.

Hang Seng Index review to boost market capitalisation by 4.5%: analysts

Tencent, BeOne Medicines, Baidu and NetEase may lure fund inflows between US$200 million and US$1 billion, due to index weighting changes.

.css-1f6sr3w{color:#727272;}AI | China’s tech giants look to rewrite the e-commerce playbook with AI agents

The nation’s over 900 million e-commerce users are taking part in an experiment where rigid search terms are replaced by natural dialogue.

Alibaba taps into China’s ‘chat to buy’ trend by connecting Qwen AI with Taobao

Move underscores strategy by China’s technology firms to revamp their flagship e-commerce platforms via an accelerating AI push

China pours US$6.1b into Brazil, making it Beijing’s top global investment

Chinese miners, carmakers and tech firms are fanned out across 20 states, putting a dent in Washington’s own push throughout the region.

Kimi developer Moonshot AI valued at US$20b as it navigates new IPO rules

Firm raised US$2 billion from investors including Meituan’s venture and China Mobile, taking total to US$3.9 billion in the last six months.

Chinese AI stocks are surging. So why is Hong Kong’s tech index still falling?

Hong Kong has seen a string of blockbuster listings by Chinese AI firms in recent months. Yet the Hang Seng Tech Index remains deep in a slump.

Hype or real: China’s robot boom faces reality check as commercialisation lags

Capital floods into China’s robotic sector but profitability remains elusive as challenges emerge with the industry’s business model.

China’s robots step into real-world roles, from cleaning to directing traffic

Robots appear in settings from dirty kitchens to dangerous steel mills as country pushes development of embodied AI.

Chinese firms face pressure on AI investments as US peers’ spending soars

Largest US companies on track for US$700 billion in AI capital expenditures this year, versus about US$105 billion in China.

Hong Kong launches consultation on Keeta’s proposal over competition concerns

Competition Commission consults on delivery platform’s commitment to curb exclusivity and support fairness in the market.

Hidden office, fractured bone: violent clashes in China’s food safety crackdown

Details of secrecy, obstruction and violence emerge from a probe into 67,000 ‘ghost’ bakeries across China’s biggest e-commerce platforms.

Chinese platforms fined 3.6b yuan over ‘ghost’ takeaways amid cutthroat rivalry

The fines follow a period of intense competition that drove down prices and stalled profit-making at China’s food delivery platforms.

Foreigners flock to China spas to enjoy unique baths amid wellness tourism rise

Peace, comfort, affordability and 24-hour, family-friendly operations see overseas customers give boost to country’s relaxation industry.

Taiwan should learn from mainland AI, KMT head Cheng Li-wun says

The Taiwanese opposition leader was delivered milk tea by a drone at the headquarters of internet giant Meituan.

AI | China’s tech giants look to rewrite the e-commerce playbook with AI agents