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Mainland China Outperforms, Meituan Earnings Highlight Strong Growth Despite Lockdowns

June 3, 2022
Source: internewscast.com internewscast.com
News Snapshot:
10k Share this Asian equities were mixed but mostly lower overnight though Mainland China was an outlier to the upside. Real estate and energy were bright spots in both Hong Kong and Mainland China on positive policy news and OPEC meetings today. Meituan Q1 Earnings Overview Meituan’s earnings slightly disappointed on the bottom line, but the top line continues to see healthy growth compared to its peers. The implementation of new pandemic rules for the company’s key business food delivery clearly impacted its bottom line. Nonetheless, the company registered significant growth in its food delivery, in-store, hotel, and travel segments....
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Tags: auto | bank | Bank of China | car | China | CICC | Congress | finance | Guangdong | Henan | Hong Kong | hotel | Internet | MIIT | Ministry of Industry and Information Technology | Oil | Pandemic | real estate | Renminbi | revenue | Shanghai | Shenzhen | technology | Tianjin | travel

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