Meituan Dianping has driven, and pedalled, itself to distraction, says AlecMac11:
Chinese super-app operator Meituan Dianping on March 11 reported a wider operating loss of 3.7 billion yuan in the fourth quarter on an 89 percent rise in revenue, to 19.8 billion yuan, from a year earlier.
Sales from the company’s biggest business, food delivery, increased 66 percent in the three months ending Dec. 31, to 11 billion yuan. The adjusted net loss for the period, excluding fair-value changes to the company's convertible redeemable preferred shares and other one-off items, was 1.9 billion yuan. That compares with an adjusted net loss of 1.4 billion yuan in the same period in 2017.
Meituan Dianping’s shares closed up 3.6 percent at HK$58.90 before the results were released on March 11.
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