Alibaba Group Holding has earmarked 1 billion yuan (US$142 million) to waive delivery charges on Taobao users in Hong Kong for each order that costs more than 99 yuan during this fourth quarter. The three-month campaign covers categories such as fashion accessories, electronics, skincare and cosmetic products on Taobao, according to Alibaba, owner of the … Read more
Meituan, China’s largest on-demand local services provider, said its 7.45 million delivery workers drew 80 billion yuan (US$11.3 billion) in total income from the platform last year, company co-founder and chief executive Wang Xing said in an internal letter on Tuesday. About 4.5 million of those delivery workers are also covered with insurance for occupational … Read more
Shen, 56, retired from that role owing to “other business commitments”, and there is no disagreement between him and the Beijing-based company’s board, according to Meituan’s filing to the Hong Kong stock exchange on June 14. Known as China’s venture capital “godfather” for his investments in some of the country’s most successful internet companies, Shen … Read more
Meituan, China’s biggest on-demand services provider, on Thursday reported a higher-than-expected 25 per cent year-on-year increase in first-quarter revenue, boosted by gains from its core local commerce operations led by food delivery. The Beijing-based company posted revenue of 73.3 billion yuan (US$10.1 billion), up from 58.6 billion yuan in the same period last year, as … Read more
