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Meituan

Chinese AI unicorn Zhipu adds Beijing, Shenzhen government funds as shareholders

The latest funding reflects how Chinese AI-related enterprises continue to attract new investment, despite US tech restrictions.

4 Nov 2024 - 9:00PM

China’s Zhipu AI says its app can operate your smartphone for you

30 Oct 2024 - 9:00AM

Chinese tech giants from ByteDance to Meituan see rise in ‘golden week’ spending

8 Oct 2024 - 9:00PM

Meituan co-founder cashes out US$44.3 million amid Chinese stock rally

Mu Rongjun, an executive director of the on-demand delivery firm, sold the shares after a 240 per cent price rally since a February low.

4 Oct 2024 - 1:31PM

On-demand delivery giant Meituan is seen as potentially one of the biggest beneficiaries of a rebound in Chinese consumer spending. Photo: Shutterstock

Alibaba waives delivery fees for Hong Kong’s Taobao users in US$142 million plan

Delivery charges on the city’s Taobao users will be waived for certain orders that cost more than US$14 during this fourth quarter.

27 Sep 2024 - 1:35PM

Meituan riders earn more than the average Beijinger, data shows

A new report by the company portrays gig employment as an alternative for people in between full-time jobs.

20 Sep 2024 - 8:01PM

Meituan’s delivery workers earn US$11 billion in 2023, CEO says

CEO Wang Xing’s internal announcement reflects Meituan’s efforts to address mainland policymakers’ concerns over the welfare of gig workers.

18 Sep 2024 - 6:00PM

About 4.5 million of Meituan’s more than 7 million delivery workers are covered with insurance for occupational injury. Photo: Shutterstock

China’s Meituan plants flag in Saudi Arabia after Hong Kong debut

The Beijing-based company has introduced its food ordering app Keeta in Al-Kharj, ahead of an expected launch in the capital, Riyadh.

10 Sep 2024 - 5:24PM

Chinese unicorn Zhipu AI raises new funding from state-backed investor

State-backed investment vehicle Zhongguancun Science City Innovation Development estimates Zhipu AI’s value at around US$2.8 billion.

5 Sep 2024 - 5:00PM

Pinduoduo updates rules to kick out sellers of shoddy products

A PDD executive said in a recent post-earnings call that the company is willing to sacrifice short-term profits for long-term health.

3 Sep 2024 - 9:30PM

Pinduoduo is taking measures to weed out sellers of low-quality or fake products. Photo: SCMP

My Take | Beijing’s ‘anti-involution’ stance looks to tame e-commerce sector, price wars

Major online retail platforms are expected to make changes on algorithms, policies and charges that have fanned excessive competition.

3 Sep 2024 - 7:00AM

Amid weakened consumer spending, a property slump and ageing population, competition among e-commerce platforms to woo buyers has become brutal. Photo: Shutterstock

Meituan reports strong second quarter growth on popularity of discounted meals

China’s largest on-demand service provider Meituan reported a 21 per cent jump in second-quarter revenue, bolstered by growth in its core local commerce operations.

28 Aug 2024 - 8:22PM

Meituan enables 30-minute delivery of home appliances with Midea

The food delivery giant is tapping into China’s growing on-demand e-commerce market by offering a wider variety of products.

16 Aug 2024 - 8:00PM

ByteDance cracks down on corruption and bribery cases in first half of 2024

About 88 ByteDance employees were sacked, while 17 others were taken into custody by public security authorities for the reported offences.

14 Aug 2024 - 7:00AM

The internal misconduct cases reported by ByteDance included incidents of bribery and misappropriation of company property. Photo: Shutterstock

China’s leading apps, including WeChat and Taobao, test proposed cyber ID system

More than 50 apps recently started accepting virtual IDs created under this proposed authentication system for user account registration and login.

1 Aug 2024 - 5:00PM

Legal experts have expressed concerns over the proposed regulation’s implications on mainland app users’ privacy and government oversight. Photo: Shutterstock

Alipay drives evolution of contactless payments in China with new tap-and-pay service

Alipay expects its Tap! service, which is being rolled out in major cities across mainland China, to ‘expedite in-store mobile payments’.

9 Jul 2024 - 8:10PM

Alibaba’s Taobao adds 1-hour delivery short cut in race against ByteDance, JD.com

With on-demand delivery the latest front in China’s e-commerce war, Taobao is using Alibaba’s Ele.me and Freshippo to expand its offerings in the category.

4 Jul 2024 - 12:04AM

China’s venture capital ‘godfather’ Neil Shen exits Meituan board

Shen’s departure comes after venture capital firm HongShan had been gradually cutting its stake in Meituan since China’s food delivery services giant debuted in Hong Kong in 2018.

17 Jun 2024 - 8:08PM

Venture capitalist Neil Shen Nanpeng speaks at the Chinese People’s Political Consultative Conference in Beijing on March 7, 2022. Photo: Xinhua

Alibaba, Xiaohongshu boost sales in midyear shopping festival

Alibaba’s midyear shopping promotion has it going head-to-head with younger e-commerce competitors such as Xiaohongshu, China’s answer to Instagram.

15 Jun 2024 - 8:00AM

Shanghai’s former ‘rust belt’ eyes small tech firms to complete digital economy

Shanghai’s northeastern Yangpu district , which has already attracted Big Tech firms such as Meituan and Bilibili, has set its sights on smaller technology businesses to form an ecosystem for its growing digital economy.

14 Jun 2024 - 7:00PMvideocam

Food delivery giant Meituan’s quarterly revenue rises 25%, beating estimates

Meituan co-founder and chief executive Wang Xing said the company is looking to expand into more international markets, including in Southeast Asia.

6 Jun 2024 - 8:47PM

China’s Zhipu commits to AI safety in Seoul with 15 others

Along with Meta, OpenAI and Samsung, the companies committed to publishing safety frameworks for measuring risks.

22 May 2024 - 1:49PMvideocam

South Korean President Yoon Suk Yeol attends the virtual AI Seoul Summit on May 21, 2024. Photo: Handout via AFP

Chinese unicorn Zhipu AI to launch Sora rival as early as 2024: report

The Beijing-based start-up, dubbed one of the ‘four new AI tigers’ of China, is said to have plans to release ‘high-quality text-to-video tools’ by this year at the earliest.

8 May 2024 - 9:00AMvideocam

Meituan’s KeeTa app leads Hong Kong’s food delivery market in March quarter

KeeTa seized a 43 per cent share of the city’s food delivery market by order volume in the first quarter to surpass rival Foodpanda, which had a 37 per cent share in the same period.

8 May 2024 - 5:27PM

ByteDance reveals dozens of internal misconduct cases, including bribery

The owner of TikTok and its Chinese sibling Douyin has internally disclosed 61 misconduct cases involving employees who were fired or charged by authorities.

29 Apr 2024 - 5:30PM

A ByteDance building in Shanghai, China. Photo: Bloomberg

Chinese food-delivery giant Meituan to debut in Saudi Arabia’s capital

Meituan’s foray into Riyadh marks the Beijing-based company’s first overseas expansion amid slowing growth in its home market.

26 Apr 2024 - 3:34PM

Meituan is likely to roll out its Keeta food-delivery platform in phases, initially targeting certain districts in Riyadh. Photo: Shutterstock

Strong orders in post-pandemic China boost Meituan revenue

Its number of on-demand delivery transactions grew 25 per cent in the fourth quarter, while the company continues to narrow losses from new initiatives.

22 Mar 2024 - 5:52PM

Meituan, Didi in the spotlight as China stresses gig workers rights

Platforms should send app notifications to remind workers to take a break if they have been working longer than the hours agreed, according to new government guidelines.

26 Feb 2024 - 7:12PM

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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

last updated:

30 September, 2024