Meituan Stock News

CHENGDU, China , Dec. 6 , 2021 /PRNewswire/ -- Senmiao Technology Limited ("Senmiao" or the "Company") (Nasdaq: AIHS) , a financing and servicing company focused on the online ride-hailing industry in China , as well as an operator of its own online ride-hailing platform, today announced the operating metrics for its proprietary online ride-hailing platform for the month of November 2021 . In November 2021 , Senmiao reported over 0.9 million total completed orders, a decrease from over 1.0 million total orders completed in October 2021 , due to a resurgence of COVID-19 cases in Chengdu in November, which led to travel restrictions and lockdowns being implemented. Numbers reported since August 2021 include the number of completed orders from Meituan''s ride-hailing platform ("the Major Platform") utilizing Senmiao''s network of cars and drivers for a set monthly fee. Since the launch of Senmiao''s online ride-hailing platform in October 2020 , approximately 14.2 million rides have been completed using its platform.

Hong Kong stocks rebounded on Wednesday after falling to their lowest level in more than a year in the previous session, as bargain hunters bought the dips on tech and financial shares. The Hang Seng index rose 0.8% to 23,658.92, while the China Enterprises Index gained 0.7% to 8,426.24. ** The Hang Seng Tech Index rose 0.5%. Food delivery company Meituan rebounded from an almost eight-week low, rising 2.8%, and Tencent Holdings gained 2.1%. ** However, Alibaba Group extended losses and closed down 1.3%. The tech giant has lost more than 20% after it missed quarterly revenue expectations and forecast a slow growth. ** Financials climbed 1% after three consecutive sessions of declines. ** Energy shares jumped 2.7%, with Chinese coal miners leading the gains, buoyed by supply concerns as coal imports from Mongolia were disrupted by the recent outbreak of the Omicron coronavirus variant. ** Hong Kong-listed gambling stocks tumbled for a third straight day, weighed down by the arrests of 11 people in Macau over alleged links to cross-border gambling and money laundering.

Meituan recently split its smart transportation platform, which was established less than one year ago. The car-hailing and unmanned vehicle distribution divisions under the platform are independent. The post Meituans Smart Transportation Platform Split, Ride-Hailing Division Now Independent appeared first on Pandaily .

The Chinese government, for better or worse, is exacting a toll on online platforms in its anti-monopoly drive. Meituan''s penalty amounted to 3 percent of revenue, and it is being forced to implement additional reforms. -Dennis Schaal

BTFDers Unleashed: Futures, Yields, Oil Jump As Omicron Panic Eases As expected over the weekend, and as we first noted shortly after electronic markets reopened for trading on Sunday, S&P futures have maintained their overnight gains and have rebounded 0.7% while Nasdaq contracts jumped as much as 1.3% after risk sentiment stabilized following Fridays carnage and as investors settled in for a few weeks of uncertainty on whether the Omicron variant would derail economic recoveries and the tightening plans of some central banks. Japan led declines in the Asian equity session (which was catching down to Friday''s US losses) after the government shut borders to visitors. The regions reopening stocks such as restaurants, department stores, train operators and travel shares also suffered some losses. Oil prices bounced $3 a barrel to recoup some of Friday''s rout, while the safe haven yen, Swiss franc and 10Y Treasury took a breather after its run higher. Moderna shares jumped as much as 12% in pre-market trading after Chief Medical Officer Paul Burton said he suspects the new omicron coronavirus variant may elude current vaccines, and if so, a reformulated shot could be available early in the new year.

On November 26, digital procurement service provider Zhenyun Technology announced the completion of a RMB 650 million ($102 million) C round of financing, led by Meituan''s venture capital fund DragonBall Capital. The post Zhenyun Technology Completes C Round Financing of RMB 650 Million Led by Meituans VC DragonBall Capital appeared first on Pandaily .

DragonBall Capital, the investment arm of Meituan, served as the lead investor for the round.

Hong Kong stocks slipped on concerns the spread of Omicron coronavirus strain will prompt more lockdowns and hurt economic recovery. Meituan slumped on weak earnings while a gambling crackdown hit Macau casino operators.The Hang Seng Index retreated 0.7 per cent to 23,919.24 as of 10.42am local time. The Hang Seng Tech Index was little changed after falling almost 1 per cent, while Chinas Shanghai Composite Index declined 0.3 per cent.Global markets sold after the World Health Organization

Chinese food delivery giant #Meituan tumbles more than 9% in HK after it reported the biggest quarterly loss since Q3 in 2018. Meituan made a net loss of nearly 10 bn yuan in Q3 this year, compared to a net profit of 6.32 bn yuan a year earlier. Hat Tip via Twitter: @YUAN TALKS Our []

Already walloped from uninspiring third-quarter results in several Chinese internet companies, Chinese stocks were hammered further by the broader market slump on renewed pandemic concerns. BlackRock

BEIJING, China: Regulators in China have asked ride-hailing giant Didi to draw up a plan to delist from the United States over data concerns, a report said on Friday, as Beijing continues its tight scrutiny of domestic tech giants. Over the past year, several of the country''s biggest companies including Alibaba, Tencent and Meituan have been swept up in a regulatory crackdown that has clipped the wings of major internet firms wielding massive influence on consumers'' daily lives. A mammoth New York debut in June for Didi Chuxing was quickly overshadowed by an investigation by the Chinese cyber watchdog on the grounds of cybersecurity, launched just days after the listing. Bloomberg reported on Friday that Chinese regulators now want Didi''s executives to take the company off the New York Stock Exchange over worries about sensitive data leakage, citing people familiar with the matter. The report added that privatization or a share float in Hong Kong are among options. The Cyberspace Administration of China, which oversees data security, has directed the company to work out the details subject to government approval, the sources said.

Meituan (MPNGF) CEO Xing Wang on Q3 2021 Results - Earnings Call Transcript

Chinese Internet Stocks: A Rising Tide Lifts All Boats

Earlier this week, the Matthews Pacific Tiger Fund (Trades, Portfolio) released its portfolio updates for the third quarter of 2021, which ended on Sept. 30.