Shares in Meituan Slide 11% as Loss Widens on Mobike, Ride-Hailing Investment
Liao Shumin
DATE:  Mar 12 2019
/ SOURCE:  yicai

(Yicai Global) March 12 -- Shares in Meituan Dianping, which formed from the merger of China's two biggest lifestyle service providers in 2015, slid by more than 11 percent this morning on the back of disappointing annual results.

The Beijing-based firm's stocks [HKG:3690] fell over 11 percent to HKD52.1 (USD6.64) in the morning's trade.

Meituan-Dianping's confirmed yesterday that its net loss nearly tripled to CNY11.1 billion (USD1.7 billion) for 2018 compared with the year before, dragged down by investment in Mobike and ride-hailing. Total revenue rose 92.3% to CNY65.2 billion from CNY33.9 billion in 2017.

Editor: William Clegg

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