Read these news here :
www.reuters.com/worl...stimates-2023-05-25/
I am not aggressively buying at this moment although the revenue has improved over last year. I will wait for the breakout from the bearish channel before deciding and takes time to do more research.
As Meituan started as a food delivery platform and dominate the largest market share in China, it has also branch out into other areas like ride sharing, bike sharing, restaurant management services. Also, it has expanded its services into Hong Kong , out of its comfort zone in China.
Because people are locked down during the 3 years Covid period, food delivery becomes a must have and the demand is high on a national level. Now with the reopening of the China market, would more people still order food and eat at home or prefer to dine out ?
There will always be demand for this food delivery - think the people returning to office and prefer to lunch in, have meetings ,etc rather than stressed themselves out hustle bustle in the lunch crowd within an hour.
The divestment of Meituan shares by Tencent, its biggest shareholder also caused a slump in its share price along with the tech regulations that hit China tech companies like Tencent, Alibaba, Baidu, etc.
Let's wait and see how it performs in the coming weeks/months.
www.reuters.com/worl...stimates-2023-05-25/
I am not aggressively buying at this moment although the revenue has improved over last year. I will wait for the breakout from the bearish channel before deciding and takes time to do more research.
As Meituan started as a food delivery platform and dominate the largest market share in China, it has also branch out into other areas like ride sharing, bike sharing, restaurant management services. Also, it has expanded its services into Hong Kong , out of its comfort zone in China.
Because people are locked down during the 3 years Covid period, food delivery becomes a must have and the demand is high on a national level. Now with the reopening of the China market, would more people still order food and eat at home or prefer to dine out ?
There will always be demand for this food delivery - think the people returning to office and prefer to lunch in, have meetings ,etc rather than stressed themselves out hustle bustle in the lunch crowd within an hour.
The divestment of Meituan shares by Tencent, its biggest shareholder also caused a slump in its share price along with the tech regulations that hit China tech companies like Tencent, Alibaba, Baidu, etc.
Let's wait and see how it performs in the coming weeks/months.
Comment:
www.scmp.com/te...es-owing-health?module=mor...