China’s “everything app” Meituan Dianping beat expectations with a 44 per cent rise in sales during the third quarter, achieving another profitable three-month period.
Meituan has become the third-biggest listed Chinese tech company by market capitalisation this year on the back of its superapp for Chinese consumers. The app brings together everything from food delivery to restaurant ratings, hotel bookings and at-home massage services.
The Beijing-based company raised $4.2bn in a Hong Kong listing last year and recorded its first quarterly profit since going public in the April to June period this year.
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