Business ExpansionMeituan entered the e-grocery space with two new initiatives, Meituan Select and Meituan Grocery, to tap into the underpenetrated e-grocery segment.
Financial PerformanceAdjusted earnings surged 36% y/y, beating market expectations on higher-than-expected revenue and narrower losses.
Market PositionMeituan is China's leading online food delivery and local service platform, operating in over 2,800 cities and counties in China.