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Raden445
2024-09-02

Yer prom ay you nhow

Stock Track | Meituan Surges on Upbeat Outlook and Profitability Improvement

Shares of Chinese delivery giant Meituan soared 5.10% during intraday trading on August 30, 2024, as investors reacted positively to the company's promising outlook and improved profitability.According to a research note from Morningstar analyst Kai Wang, Meituan's second-quarter results showed significant profitability improvement, despite facing intense competition in its in-store and hotel businesses. The company has been promoting lower-value transactions to cater to Chinese consumers' need

Stock Track | Meituan Surges on Upbeat Outlook and Profitability Improvement

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The company has been promoting lower-value transactions to cater to Chinese consumers' needs amid the slowing economy.</p>\n\n<p>Notably, Meituan has managed to narrow losses in its new initiatives, such as Meituan Select, its group-buying business. 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