Meituan shrugs off antitrust probeBloombergMeituan (美團) reported revenue that beat estimates, showing how Beijing’s ongoing antitrust probe into the Internet giant has yet to weigh on its growth prospects. China’s largest food delivery platform reported sales of 43.8 billion yuan (US$6.77 billion) for the April-to-June quarter, compared with the 42.4 billion yuan average of analyst’s estimates. The company posted a third straight quarterly net loss of 3.4 billion yuan. A Meituan delivery worker has his temperature checked as he enters a shopping complex in Beijing on July 15 last year. Meituan and its peers have announced major philanthropic projects, heeding Beijing’s call to redistribute wealth.

Source: Taipei Times August 30, 2021 15:56 UTC