Meituan, a major Chinese ride-hailing and delivery company, achieved a profit in the second quarter, its first in four quarters. Improved profitability in its core businesses, such as delivery, contributed to this result. The company attributed the recovery to a rebound in demand for food delivery, which had been hit by the COVID-19 pandemic, as well as increased efficiency. While specific figures were not disclosed, the performance reportedly exceeded market expectations.
MeituanReturn to profit driven by rebound in food delivery demand and improved efficiency.
