Logo - https://photos.prnasia.com/prnh/20200525/2812497-1, Motorola Solutions Reports Third-Quarter 2020 Financial Results, Rogers Corporation Reports Third Quarter 2020 Results, Shake Shack Announces Third Quarter 2020 Financial Results, Forward Air Corporation Reports Third Quarter 2020 Results, Atlassian Announces First Quarter Fiscal Year 2021 Results, UPS says it found the lost cache of documents that Tucker Carlson claimed would damage Joe Biden's campaign, United States Steel Corporation Declares Dividend, American Seniors Should Wear This $49 Health Watch, Philadelphia police discover van loaded with explosives amid unrest over fatal shooting of Black man, FBI warns ransomware assault threatens US health care system, Paulina Porizkova shares raw post about her depression and feeling ‘lonely’ during marriage to Ric Ocasek, Vision Loss Lawsuit Eligibility - Find Lawyer, Members of white supremacist group accused of intimating Mich. family, Amazon posts Q3 earnings that blow away estimates; COVID-19 effect boosts sales, Netflix hikes monthly charges for US subscribers, Golf legend Jack Nicklaus tweets endorsement of President Donald Trump: 'He has delivered on his promises', $300 Million Telemarketing Scheme Preyed on Older People, U.S. Says, Jerry Falwell Jr. files lawsuit against Liberty University over damaged reputation, http://meituan.todayir.com/attachment/2020052517240156239291692_en.pdf, https://photos.prnasia.com/prnh/20200525/2812497-1. Under the Safe-Stay Program, we established precautionary measures and increased service capabilities for our partner hotels, such as the adoption of strict health precautions for all employees and consumers, close tracking of consumer information, free booking cancelations, and discounts for additional nights. These strong results helped lift the stock almost 10% in early Tuesday trading. [1][2] The same year, ChowNow, initially part of the incubator Launchpad LA, closed a seed round of $1 million from GRP Partners, James Bailey and angel investors. Moving on to the remaining of 2020, we expect that factors including the ongoing pandemic precautions, consumers' insufficient confidence in offline consumption activities and the risk of merchants' closure would continue to have a potential impact on our business performance. These strong results helped lift the stock almost 10% in early Tuesday trading. He previously covered technology for Bloomberg News. Our operating loss for the first quarter of 2020 expanded on a year-over-year basis from RMB1.3 billion to RMB1.7 billion, while operating margin decreased from negative 6.8% to negative 10.2%. To assist local governments with tracking the extent of virus transmission, our car-hailing services helped local public transportation authorities to roll out the first real-name public transport system in China. Adjusted EBITDA and adjusted net loss were positive RMB41.3 million and negative RMB216.3 million, respectively. Operating loss from the new initiatives and others segment narrowed on a year-over-year basis, while operating margin improved by 32.3 percentage points. For its expansion and product improvement, it further raised 10 million US dollars in venture funding in a round led by Upfront Ventures. As the majority of the in-store service categories are classified as discretionary or entertainment-related services, which usually involve close contact with others and/or large crowds, both supply and demand remained low in the first quarter of 2020 due to consumers' hygiene concerns and local governments' restrictions. Meituan, which is backed by gaming major Tencent Holdings Ltd, for the fourth quarter ended December, posted a 42.2% jump in revenue to 28.16 billion yuan ($3.97 billion), beating market expectations. Affected by the COVID-19 pandemic, our food delivery business was facing significant challenges on both the supply side and demand side for the first quarter of 2020. The company is headquartered in Beijing and was founded in 2010 by Wang Xing.The company operates different apps and websites for different services. To stimulate consumption, we utilized our online capabilities to establish safety programs, such as Safe QR Code, Safe-Dining and Safe-Play to guide merchants in streamlining, standardizing, and digitizing their safety measures. For the full announcement of Meituan 2020 first quarter results, please visit:http://meituan.todayir.com/attachment/2020052517240156239291692_en.pdf. HONG KONG/SHANGHAI (Reuters) - Meituan Dianping's 3690.HK share price plunged on Friday after the Chinese online food delivery-to-ticketing firm reported a far wider quarterly operating loss amid a costly battle with rivals including Alibaba-backed Ele.me. We also opened green channels for medical institutions in 34 cities to ensure adequate supply of food during the pandemic. Notably, we have seen increasing consumer preference for high ticket size categories during the pandemic due to the increasing adoption of food delivery for formal meals, further diversification of high-quality supplies on our platform and growing preference for branded restaurants. As a result of government-issued travel bans, self-quarantine policies for travelers, and a general fear of virus infection, many consumers canceled their travel plans. As a result of the pandemic, our total revenues decreased by 12.6% year-over-year to RMB16.8 billion from RMB19.2 billion in the same period of 2019. The drop, which chopped off more than $4 billion from the Meituan Dianping's market valuation, underscores the challenges of a company up against the clout of Alibaba Group Holding Ltd BABA.N and Japan's SoftBank Group Corp 9984.T, which has invested in ride-hailing-cum-delivery firm Didi Chuxing. Operating profit of our in-store, hotel & travel businesses decreased by 57.3% year-over-year and by 70.8% quarter-over-quarter to RMB680.2 million in the first quarter of 2020, while operating margin decreased by 13.5 percentage points year-over-year and by 14.7 percentage points quarter-over-quarter to 22.0%. On the consumer side, the pandemic has further accelerated the cultivation of consumption behavior, helping to further educate some of our targeted potential consumers in a positive way. But he said he was confident for the longer term despite “the short-term setbacks”. BEIJING, August 11, 2020 -- Meituan (HKG: 03690) (the "Company"), China's leading ecommerce platform for services, today announced that it plans to release its financial results for the second quarter ended June 30, 2020 … Further information regarding these risks and uncertainties is included in our other public disclosure documents on our corporate website. Meituan helps consumers discover merchant information, make informed decisions, complete online and offline transactions and enjoy on-demand delivery. Net loss soared to 83.30 billion yuan from a loss of 4.4 billion yuan in the same period a year earlier, which the firm attributed to changes in the fair value of convertible redeemable preferred shares. Overall, operating loss widened 32% to 1.7 billion yuan ($238 million).
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