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…


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