Meituan reports wider quarterly net loss amid increased regulatory pressure

Meituan, operator of China’s largest on-demand services platform, reported a wider net loss in the three months to December from a year ago, as revenue slowed for the third consecutive quarter amid Beijing’s pressure to lower merchant fees and boost protection for delivery couriers.The Beijing-based company posted a net loss of 5.3 billion yuan (US$832 million) in the fourth quarter, 137.9 per cent higher than its 2.2 billion yuan loss in the same period in 2020, after it was slapped with a US…

Source link

About Daily Multan

Check Also

Death row inmates in Japan sue to abolish ‘cruel’ execution by hanging

Executions in Japan usually take place long after sentencing, with inmates held for years in …

Leave a Reply

Your email address will not be published. Required fields are marked *