Shares of China's food delivery leader Meituan fall more than 5% on weaker Q3 outlook
Publishing timestamp: 2023-08-25 02:35:51
Summary
Meituan's CEO, Wang Xing, warned of a slowdown in food delivery volume in the third quarter due to macroeconomic factors and extreme weather conditions. Despite this, the company posted strong second-quarter results with increased revenue and profit. Wang remains confident in the long-term growth of the food delivery business and mentioned plans to leverage AI and autonomous delivery technology.
Sentiment: MIXED
Tickers: 3690-HK,
Keywords: meituan, business news, breaking news: technology, technology, internet, food and drink,