China’s Price Wars Leave Meituan Facing First Loss Since 2022
A food delivery courier for Meituan in Beijing, China.
Source: BloombergMeituan shares may extend their underperformance against Chinese tech peers as price wars drive the online delivery giant to its first loss in nearly three years.
Investors will be looking for management comments on efforts to bolster profits while fending off competition when the company reports results later Friday. Analysts polled by Bloomberg expect Meituan to report a net loss of 14.8 billion yuan ($2.1 billion) for the three months ended Sept. 30.