Meituan (MPNGF) Q4 2023 Earnings Call Transcript
Ben Harburg, MSA Capital managing partner, joins 'Squawk on the Street' to discuss China's struggling economy, investment opportunities amid the uncertain times, and more.

Meituan (MPNGF) Q1 2023 Earnings Call Transcript

11:17am, Thursday, 25'th May 2023
Meituan (OTCPK:MPNGF) Q1 2023 Earnings Conference Call May 25, 2023 7:00 AM ET Company Participants Scarlett Xu - Vice President and Head of Capital Markets Xing Wang - Chairman and Chief Executive Of
#HK stocks open sharply lower, with #HangSeng Index down 2.06%. Hang Seng #Tech Index slumping 4.66%Tech heavyweights lead the losses, with down over 12%, down 11% and Meituan sliding more than 6%. Hat Tip via Twitter: @YUAN TALKS Our Twitter for Quick Updates: Twitter Follow Us
Hong Kong stocks rebounded from the lowest level since July 2016 as signs the rout this week was overdone. Alibaba Group Holding and Meituan recovered from their record lows.The Hang Seng Index climbed 0.3 per cent to 21,115.85 as of 10.25am local time after losing 3.9 per cent on Monday. The Tech Index weakened 0.6 per cent, while the Shanghai Composite Index slipped 0.3 per cent.About half of the 66 Hang Seng Index members advanced as Techtronic jumped 4 per cent. Alibaba, the owner of this…

Autonomous Truck Startup Inceptio Technology Raises $188M In Funding

09:15am, Saturday, 05'th Mar 2022 Forbes Middle East

Autonomous driving truck startup Inceptio previously raised $270 million in August led by JD Logistics, Meituan and Asia-focused investment firm PAG.

Chinese food delivery firm Meituan (OTC: MPNGY ) looks to lower commissions for merchants on its platform, Reuters reports . Other major food delivery platforms in China include Alibaba Group Holding Ltd (NYSE: BABA )-owned Ele.me. Meituan currently charges ~12% in commissions for its food delivery business, a unit accounting … Full story available on Benzinga.com

Nervous Markets Rebound As Ukraine Tensions Fade

01:01pm, Wednesday, 23'rd Feb 2022 Zero Hedge
Nervous Markets Rebound As Ukraine Tensions Fade US equity futures - which on Tuesday tumbled into a technical correction, down 10% from January''s all time highs - rebounded led by tech companies as investor fears over the standoff in Ukraine eased following the limited initial Western sanctions against Russia. As of 7:15am, eminis pared some gains but were still up 0.7% or 28 points on the day; Nasdaq futures were up 0.9% and Dow futures were up 0.54%. The VIX remained elevated, last seen around 28 after trading above 30 yesterday. Treasuries extended declines after the yield curve flattened in the Wall Street session, with the 10Y yield rising to 1.97% after tumbling as low as 1.85% on Tuesday. Crude oil fluctuated, while gold dipped as haven demand eased. The dollar slipped and cryptos reversed some of their recent losses. Susannah Streeter, senior analyst at Hargreaves Lansdown, said there were signs of bargain hunting among traders, keen to snap up shares sensitive to the situation. But she warned the geopolitical tension could still escalate, while elevated oil and gas prices were boosting inflationary risks. The volatility which has hit stocks is set to remain as traders assess this latest attempt to slow down the march toward a full invasion, said Streeter.

China Crackdown Risk Roars Back With Probe of Jack Ma Empire

02:24pm, Tuesday, 22'nd Feb 2022 Investment Watch Blog
Three of Chinas most valuable businesses Alibaba Group Holding Ltd., Tencent Holdings Ltd. and Meituan have shed more than $100 billion in the span of three turbulent days. Its a remarkable reversal from just a week ago, as investors like Charlie Munger spotted bargains among China Tech Inc. after a $1.5 trillion selloff in 2021. Macquarie issued a report this month headlined peak crackdown.

Alibaba shares slump 5% on Beijing''s scrutiny of Ant Group

05:57am, Tuesday, 22'nd Feb 2022 Business Recorder
BEIJING: Shares in Alibaba slumped more than five percent on Tuesday following a report that Beijing regulators had ordered a fresh investigation into state firms'' links with the Chinese e-commerce giant''s fintech arm Ant Group. China''s biggest state-owned firms and banks were told to begin a new round of checks on their financial exposure and other links to Ant and its subsidiaries, Bloomberg reported, in another blow to the beleaguered company and Alibaba''s billionaire co-founder Jack Ma. Since late 2020, Chinese regulators have launched a wide-ranging crackdown on alleged anti-competitive practices by Alibaba and other domestic tech giants, which saw a record-breaking planned IPO by Ant Group pulled at the last minute. US adds e-commerce sites operated by Tencent, Alibaba to ''notorious markets'' list Bloomberg described the fresh investigation as "by far the most thorough and wide-ranging look into deals with Ant", citing anonymous sources familiar with the matter. It is unclear what triggered the fresh scrutiny, the report said.
Shares in Alibaba, Tencent, Meituan and other tech firms dropped as the Hang Seng Tech Index is set for its lowest close since July 2020.
Chinese Tech Stocks Suffer Biggest 2-Day Rout Since July Amid Fears Beijing Will Unleash More Crackdowns While not directly impacted by the sharp crisis escalation in Ukraine or fears of multiple rate hikes by the Fed, Chinese tech shares suffered their worst two-day drop since July following renewed fears Beijing may roll out more restrictions for private enterprise. Shares of China''s tech giant, Tencent, sank 5.2% on Monday, hammered by speculation about an unspecified, impending crackdown on Chinas largest social media and gaming firm that company spokesman Zhang Jun later denied. Traders pointed to everything from warnings from regulators over the weekend about scams in the metaverse to talk about yet more curbs on the gaming industry. Zhang said the online rumors were unfounded, without elaborating. Amid the rout, Tencents head of public relations Zhang Jun denied online speculation that its facing a major regulatory crackdown, issuing an unusually aggressive public response after fears of more tech-sector restrictions tanked markets on Monday.

Meituan Shows China Tech Isn''t Delivering Yet

10:18am, Monday, 21'st Feb 2022 The Wall Street Journal
Investors had hoped that the new year would bring a reprieve from the regulatory crackdown that punished shares in 2021. Those hopes may have been premature.

Hong Kong shares close higher on bargain hunting

09:34am, Wednesday, 01'st Dec 2021 Business Recorder
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 .
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