Meituan

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Meituan is an investment holding company, which engages in the provision of a platform that uses technology to connect consumers and merchants. It operates through the following segments: Food Delivery, In-store, Hotel, and Travel, and New Initiatives and Others. The Food Delivery segment provides food ordering and delivery services. The In-store, Hotel, and Travel segment offers merchants the ability to sell vouchers, coupons, tickets, and reservations on the firm's platform. The New Initiatives and Others segment includes revenue derived from cloud-based enterprise resource planning systems, integrated payment services, supply chain solutions to merchants, small and medium-sized merchants financing services, local transportation services, and other products and services. The company was founded by Xing Wang, Hui Wen Wang, and Rong Jun Mu in March 2010 and is headquartered in Beijing, China.

Food delivery behemoth Meituan has raised $10 billion in a stock and convertible bonds sale, underscoring strong investor faith in the growth prospects of some Chinese tech firms despite a regulatory clampdown on the sector.

China delivery giant Meituan raises $10 billion - a warchest for drones, self-driving cars

The Chinese delivery leader Meituan is aiming to raise roughly $10 billion to compete with companies like Alibaba. According to Bloomberg, Meituan is looking to raise this revenue by selling stock and convertible bonds, the largest-ever sale of new shares by a company listed on the Hong Kong exchange.

Meituan Seeks $10 Billion To Compete In Chinese Grocery Wars

MEITUAN (MPNGF) CEO Xing Wang on Q4 2020 Results - Earnings Call Transcript

HONG KONG, March 26, 2021 /PRNewswire/ -- Meituan (HKG: 3690) (the "Company"), China's leading e-commerce platform for services, today announced the audited consolidated results of the Company for the year ended December 31, 2020. Company Financial Highlights As China's economic recovery accelerated as a result of the effective containment of the COVID-19 pandemic, our businesses recovered steadily during 2020.

Meituan Announces Financial Results for the Year Ended December 31, 2020

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News for Meituan Stock (MPNGF)