on-demand delivery

Meituan’s fourth-quarter revenue jumps on strong orders, while losses from new initiatives narrow further

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The Beijing-based company posted 73.7 billion yuan (US$10.2 billion) in revenue for the three months ended December 31, better than the 72.7 billion yuan consensus estimates according to analysts surveyed by Bloomberg. Quarterly net income came in at 2.22 billion yuan, compared with a net loss of 1.08 billion yuan a year earlier. For the … Read more

JD.com’s on-demand delivery unit, Dada Nexus, loses 46 per cent of US stock value overnight amid internal inquiry into potential fraud

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An on-demand delivery firm affiliated with Chinese e-commerce giant JD.com lost 46 per cent of its stock value in New York on Monday, following an inquiry into “suspicious” data during an internal audit, dealing a fresh blow to confidence in China’s tech stocks. Dada Nexus, which operates JD Daojia and Dada Now, found 1 billion … Read more