Chinese food delivery and on-demand services giant Meituan said its revenue rose 31% in the fourth quarter, the company’s slowest quarterly revenue growth in more than a year. Losses widened in the quarter as Meituan invested more in online grocery operations and other relatively new businesses. Meituan’s results come as China’s biggest tech companies are all grappling with the country’s...
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Chinese Investment Giant Hillhouse Capital Seeks to Expand Outside China
Hillhouse Capital Group, the Chinese sprawling investment powerhouse that has drawn comparisons to Tiger Global Management, has a new challenge: growing outside China. The firm is best known for investments in Chinese tech giants such as Tencent, JD.com, Didi Global and TikTok owner ByteDance. But the devastation of China’s private equity and venture capital sectors, caused by...
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