Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Hong Kong
  4. Hong Kong Stock Exchange
  5. Meituan
  6. News
  7. Summary
    3690   KYG596691041

MEITUAN

(3690)
  Report
End-of-day quote. End-of-day quote Hong Kong Stock Exchange - 09/17
240.8 HKD   +3.53%
04:32aHong Kong shares rebound, led by tech, healthcare
RE
12:53aShanghai stocks fall as coal shares drag; Hong Kong rebounds
RE
09/15EXPLAINED : China crackdown wipes billions off top companies
RE
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Meituan : Chinese market regulator strengthens protection for food delivery workers

07/26/2021 | 11:09am EDT
Food delivery drivers pick up their parcels at a makeshift lunch hour distribution spot following an outbreak of the coronavirus disease (COVID-19) in Beijing

BEIJING (Reuters) - Food delivery platforms in China are being pushed to guarantee their workers with income above minimum pay, insurance and a relaxation in delivery deadlines, under a set of reforms announced on Monday by China's market regulator.

The guidelines were issued by the State Administration for Market Regulation along with six other administrative departments, including the National Development and Reform Commission, the Cyberspace Administration of China and the Ministry of Public Security.

Food delivery platforms in China, including Meituan and Alibaba's Ele.me, have attracted severe criticism on social media for their treatment of delivery workers, most of whom are not covered by basic social and medical insurance.

Meituan will "resolutely implement" the guidelines and continue to "effectively enhance labour rights," it said in a statement. Alibaba's Ele.me did not respond to a Reuters request for comment.

Meituan has been working with the government to purchase employment injury insurance for its delivery drivers, the company's chief executive, Wang Xing, said on a conference call in May.

Investors are worrying about the rising cost of employing riders by the platforms, Reuters had previously reported.

Meituan's Hong Kong-listed shares slumped nearly 14%, against a drop of 4.13% in the Hang Seng Index.

(Reporting by Sophie Yu, Yingzhi Yang and Tony Munroe; Editing by Peter Graff and Anil D'Silva)


© Reuters 2021
All news about MEITUAN
04:32aHong Kong shares rebound, led by tech, healthcare
RE
12:53aShanghai stocks fall as coal shares drag; Hong Kong rebounds
RE
09/15EXPLAINED : China crackdown wipes billions off top companies
RE
09/15MEITUAN : Alibaba's Ele.me Won't Force Riders to Register as Businesses
MT
09/15Hong Kong shares drop over 1.5% as tech, casino stocks weigh
RE
09/15MEITUAN : Chinese delivery giants Meituan, Ele.me pledge to not force drivers to..
RE
09/15China stocks mixed as weak growth data weighs; Hong Kong down
RE
09/14SENMIAO TECHNOLOGY : Meituan Form Rider-Hailing Collaboration
MT
09/14MEITUAN : Sequoia Capital Exec Offloads Shares Worth $54 Million in Meituan amid..
MT
09/14MEITUAN : to Adjust Delivery Algorithms Amid Beijing Crackdown
MT
More news
Analyst Recommendations on MEITUAN
More recommendations
Financials
Sales 2021 182 B 28 121 M 28 121 M
Net income 2021 -19 401 M -3 001 M -3 001 M
Net cash 2021 65 674 M 10 158 M 10 158 M
P/E ratio 2021 -77,1x
Yield 2021 -
Capitalization 1 476 B 190 B 228 B
EV / Sales 2021 7,76x
EV / Sales 2022 5,64x
Nbr of Employees 69 205
Free-Float 71,0%
Chart MEITUAN
Duration : Period :
Meituan Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends MEITUAN
Short TermMid-TermLong Term
TrendsBullishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 40
Last Close Price 240,80 CNY
Average target price 264,31 CNY
Spread / Average Target 9,76%
EPS Revisions
Managers and Directors
Xing Wang Chairman & Chief Executive Officer
Shao Hui Chen Chief Financial Officer & Senior Vice President
Heung Yeung Shum Independent Non-Executive Director
Xue Song Leng Independent Non-Executive Director
Gordon Robert Halyburton Orr Independent Non-Executive Director
Sector and Competitors
1st jan.Capi. (M$)
MEITUAN-18.26%183 180
ALIBABA GROUP HOLDING LIMITED-32.86%423 607
SHOPIFY INC.30.39%184 301
PINDUODUO INC.-43.78%125 191
MERCADOLIBRE, INC.12.78%93 525
EBAY INC.47.24%48 559