Meituan Still Adjusting Organizational Structure to Integrate Local Life Services, CEO Says

MT Newswires Live06-11

Meituan's (HKG:3690) organizational adjustments are still underway to synergize its core local life services, CEO Wang Xing said during an earnings conference call on June 6.

The online retail platform plans to cover all local services and provide effective exposure for its on-demand delivery, in-store, accommodation, and travel, Wang said.

"We will continue to work closely with all the participants in our ecosystem, create more jobs opportunities, realize more social value, and fulfill our mission to help people eat better, live better," Wang said.

Meituan's attributable profit rose 60% to 5.37 billion yuan in the first quarter from 3.36 billion yuan in the year-ago period.

Shares jumped 2% in Hong Kong during Tuesday's morning trading.

Price (HKD): $112.70, Change: $+2.30, Percent Change: +2.08%

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