(Yicai Global) May 26 -- Meituan Dianping's market cap exceeded USD100 billion today, joining a club inhabited by China's Tencent Holdings and Alibaba Group Holding, after the on-demand services giant posted better-than-expected sales for the first quarter.

Meituan's stock price [HKG: 3690] jumped to an all-time high of HKD138 (USD17.80) this morning and fell back to HKD135.30 after that.

The Beijing-based firm's revenue fell 12.6 percent to CNY16.8 billion (USD2.4 billion) in the three months ended March 31 from a year earlier, it said in its earnings report published yesterday after the market closed. The number of transacting users rose 8.9 percent to 448.6 million as many restaurants could only offer takeout during the epidemic.

Editor: Emmi Laine