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Briefing
asia

Meituan’s Revenue Rises 28% as Covid Lockdowns Boost Food Delivery Demand

By
Juro Osawa
· · Source: The Information

Meituan, China’s biggest food delivery app, reported a 28% rise in revenue for the third quarter. Demand for deliveries of meals and groceries was strong during the quarter, as China’s strict Covid-19 restrictions forced many consumers to spend more time at home. Meituan’s solid growth stands when most other Chinese internet giants are struggling to adapt to a tough economic environment....

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