3690.HK - Meituan Dianping

HKSE - HKSE Delayed Price. Currency in HKD
77.500
+2.200 (+2.92%)
At close: 4:08PM HKT
Stock chart is not supported by your current browser
Previous Close75.300
Open75.550
Bid77.500 x 0
Ask77.550 x 0
Day's Range74.600 - 77.700
52 Week Range40.250 - 77.700
Volume26,008,639
Avg. Volume16,886,321
Market Cap449.378B
Beta (3Y Monthly)N/A
PE Ratio (TTM)N/A
EPS (TTM)N/A
Earnings DateAug 23, 2019
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
  • China's Internet Companies Are Pushing Into Lower Tier Cities
    Bloomberg

    China's Internet Companies Are Pushing Into Lower Tier Cities

    Aug.23 -- Jessie Wang, co-founder and chief operating officer at Bigone Lab, discusses how her company analyzes data on consumer and tech companies and the trends she’s seeing in the industry. She speaks to Bloomberg’s Selina Wang on “Bloomberg Markets: Asia.”

  • An Underfollowed Chinese Tech Company Is Now More Valuable Than Baidu, JD.com
    Motley Fool

    An Underfollowed Chinese Tech Company Is Now More Valuable Than Baidu, JD.com

    Its latest earnings report suggests Meituan may be the most exciting tech stock in China today.

  • Thomson Reuters StreetEvents

    Edited Transcript of 3690.HK earnings conference call or presentation 23-Aug-19 11:00am GMT

    Q2 2019 Meituan Dianping Earnings Call

  • Meituan Joins Amazon’s Virtuous Circle
    Bloomberg

    Meituan Joins Amazon’s Virtuous Circle

    (Bloomberg Opinion) -- Investors celebrating Meituan Dianping’s first quarterly profit have as much reason to cheer how the company got there as the numbers themselves.Surging revenue, market-share gains against rivals such as Alibaba Group Holding Ltd. and success in controlling expenses all helped the Chinese food delivery and bookings provider post net income of 877.4 million yuan ($124 million) versus the 1.57 billion yuan loss analysts were expecting. Most encouraging, though, may be the signs that the company is creating the kind of virtuous cycle enjoyed by Amazon.com Inc.Meituan’s business model is simple and familiar. Restaurants use the company to sell food. Meituan aggressively chases both consumers and merchants. Customers keep coming back because they know they’ll find a wide range, good prices and quick delivery. The more that food buyers flock to Meituan, the more restaurants realize they need to be on the platform.Then comes the real magic. To get ahead of the competition, restaurants find they need to up their game by advertising or paying for priority listings. Because others are doing it, rivals have to as well. And so the cycle goes. That should sound familiar because it’s precisely what Amazon has been doing for years. My colleague Shira Ovide summed it up last month with a column titled: Amazon Advertising Is Just a Toll in Disguise. In just two years, the proportion of Amazon’s sales from advertising almost doubled to 4.7%. If you strip out the Amazon Web Services cloud and subscription businesses, the percentage contribution would be even higher.At Meituan, online marketing services climbed to 8.6% of revenue from its food delivery business in the most recent period, from 5.4% a year earlier. Food delivery remains the company’s biggest and fastest-growing business, accounting for 57% of revenue, yet its travel and hotel-bookings division is no slouch at 43% growth from a year earlier and with an 89% gross margin.Just as Amazon is enjoying tidy growth and profit at non-core businesses, Meituan appears to be having success in leveraging its relationship with food-delivery consumers to help them book holidays and hotels. While Alibaba-backed ele.me is Meituan’s chief rival in food, the travel division puts it head to head with Ctrip.com International Ltd.A concern for investors has been the cost of gaining such traction and fighting off competitors. The company fought bitterly with ele.me to gain users, merchants and delivery riders. Meituan’s second-quarter numbers indicate this rivalry may have slowed. Sales and marketing expenses dropped as a ratio of revenue, helped greatly by declining proportions for driver costs and user incentives. Such pragmatism has become a feature: The company scaled back its bike-rental business last year and the stock has been rewarded accordingly. Meituan shares have gained more than 70% in Hong Kong this year, and climbed as much as 7.7% to a record on Monday.If the company can remain nimble enough to seize new opportunities and ditch failures, there’s a good chance it’ll ride out China’s economic slowdown and emerge as dominant as Amazon is in the U.S. (Corrects the second-last paragraph to more accurately characterise Meituan’s presence in the bike-rental business.)To contact the author of this story: Tim Culpan at tculpan1@bloomberg.netTo contact the editor responsible for this story: Matthew Brooker at mbrooker1@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Tim Culpan is a Bloomberg Opinion columnist covering technology. He previously covered technology for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • Meituan Surges to Highest Since IPO After Surprise Profit
    Bloomberg

    Meituan Surges to Highest Since IPO After Surprise Profit

    (Bloomberg) -- Shares in Meituan Dianping surged the most in five months, hitting the highest price since its initial public offering after the Chinese internet giant posted its first quarterly profit last week.The stock jumped 8.9% to close at HK$76.20 on Monday in Hong Kong, becoming the second biggest gainer on the MSCI China Index. Meituan went public at HK$69 a share in September 2018 and has spent most of the intervening months below that level.Meituan recorded a net income of 877.4 million yuan ($124 million) compared with the 1.57 billion yuan loss analysts projected on average, after it grabbed market share from rivals like Alibaba Group Holding Ltd. in food delivery. The company however got help from one-time investment gains, such as in wealth management products. Revenue rose 51% to 22.7 billion yuan, compared with the 21.9 billion yuan mean estimate.Hard-charging billionaire founder Wang Xing is waging a take-no-prisoners battle of subsidies with Alibaba for China’s $1.3 trillion online services industry, which includes food delivery. Meituan’s expenses have soared, though it’s trying to control costs by putting the brakes on investment in loss-making areas such as bike sharing and ride hailing.Meituan Earns Its Way Into Amazon’s Virtuous Circle: Tim CulpanAdvances made against Alibaba however have helped the company become China’s third largest publicly traded tech company. It’s overtaken search engine Baidu Inc. and e-commerce platform JD.com Inc. in capitalization after gaining 59% this year. Backed by WeChat-operator Tencent Holdings Ltd., Meituan could have gained another 2 percentage points of food-delivery market share versus its rivals, reaching 36% in the second quarter, according to Bernstein.“Food delivery business achieved positive adjusted operating profit due to favorable seasonality and improved economies of scale,” Jefferies analysts Thomas Chong and Ken Chong wrote.For now, Meituan is focusing on its bread-and-butter business of dining, expanding up the value chain to help restaurants manage their back-end systems. Longer-term, Wang envisions a super-app modeled on WeChat, extending a raft of everyday services to an increasingly wealthy populace.Read more: The Greatest Delivery Empire on Earth Has Alibaba’s AttentionHere are a few highlights from its quarterly results:Food delivery revenue rose 44%In-store, hotel booking and travel business revenue rose 43%Gross transaction volumes climbed 29% to 159.2 billion yuanAnnual active merchants grew 16% to 5.9 million in the year ended June 30Company will continue to prioritize revenue over profit, and accelerate investment in marketing channels, allocate more resources to membership programs to increase active users.(Updates with share moves from the second paragraph)To contact the reporter on this story: Lulu Yilun Chen in Hong Kong at ychen447@bloomberg.netTo contact the editors responsible for this story: Edwin Chan at echan273@bloomberg.net, Colum Murphy, Peter ElstromFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Meituan Dianping Announces Financial Results for the Three and Six Months Ended June 30, 2019
    PR Newswire

    Meituan Dianping Announces Financial Results for the Three and Six Months Ended June 30, 2019

    HONG KONG, Aug. 23, 2019 /PRNewswire/ -- Meituan Dianping (3690.HK) (the "Company" or "Meituan"), China's leading e-commerce platform for services, today announced the unaudited consolidated results of the Company for the three and six months ended June 30, 2019 ("2Q2019" and "1H2019"). Total revenues increased by 50.6% year-over-year to RMB22.7 billion from RMB15.1 billion in the same period of 2018 and increased by 18.4% quarter-over-quarter from RMB19.2 billion in the three months ended March 31, 2019, benefiting from strong revenue growth across all major business segments. Total gross profit increased by 179.5% year-over-year to RMB7.9 billion from RMB2.8 billion in the same period of 2018 and increased by 56.6% quarter-over-quarter from RMB5.1 billion in the three months ended March 31, 2019, resulting from growth in our business scale, continuous improvement of our gross margin in food delivery, and narrowing losses in our new businesses.

  • Reuters

    UPDATE 3-Chinese food delivery firm Meituan posts first quarterly profit since listing

    BEIJING/SHANGHAI, Aug 23 (Reuters) - China's Meituan Dianping, an online food delivery-to-ticketing company, posted its first quarterly profit as a listed firm as a surge in summer food delivery orders helped it beat competition from rivals including Alibaba-backed Ele.me. Meituan, backed by Chinese gaming giant Tencent Holdings Ltd , said profit increased to 875.8 million yuan ($123.66 million) in the three months ending June 30, compared with a loss of 7.72 billion yuan in the year-ago period, its first profit since listing last September.

  • China's Meituan Dianping to join maps service battle
    Reuters

    China's Meituan Dianping to join maps service battle

    BEIJING/HONG KONG (Reuters) - Meituan Dianping, a Chinese online food delivery-to-ticketing firm, has started building a mapping service, aiming to enter an area currently dominated by Alibaba's AutoNavi and Baidu Maps. A spokeswoman for Meituan told Reuters the company was working on the project, after it advertised more than a dozen positions on job hunting website Lagou.com on Tuesday for a new service it called "Meituan Maps". "We can confirm that Meituan is working on a mapping business," the spokeswoman said.

  • Reuters

    China's Meituan Dianping builds mapping service

    BEIJING/HONG KONG, Aug 14 (Reuters) - Meituan Dianping , a Chinese online food delivery-to-ticketing firm, has started building a mapping service, with an aim to enter an area currently dominated by Alibaba's AutoNavi and Baidu Maps. A spokeswoman for Meituan told Reuters that the company was working on such a project, after it advertised over a dozen positions on job hunting website Lagou.com on Tuesday for a new service it called "Meituan Maps". "We can confirm that Meituan is working on a mapping business," the spokeswoman said, adding the company had recently hired a former Baidu Maps executive.

  • Shanghai fines Didi, Meituan for using unlicensed vehicles
    Reuters

    Shanghai fines Didi, Meituan for using unlicensed vehicles

    Shanghai authorities have fined ride-hailing service providers Didi Chuxing and Meituan Dianping for using unlicensed vehicles and warned their smartphone applications could be suspended if they continue to fail to meet standards. Shanghai's transportation and communications authorities have fined Didi 200,000 yuan ($28,400) for providing services with unlicensed vehicles, the Shanghai transportation commission said on its WeChat social media account on Tuesday. The commission added Didi had already been fined 5.5 million yuan in the last assessment of the industry in July.

  • Benzinga

    Why This China ETF Will Rise Again

    With the United States and China, the world's two largest economies, both seeming unrelenting in the latest trade tiff, these don't seem like the days to embrace China exchange traded funds. Down about ...

  • Lyft Joins the Litter of Unicorn Disappointments
    Bloomberg

    Lyft Joins the Litter of Unicorn Disappointments

    (Bloomberg Opinion) -- Lyft Inc.’s rocky road as a public company should be a warning for other highfliers hoping to hit it off with stock investors. It is ugly out there for the elite startup superstars. Lyft said in its second-quarter earnings report on Wednesday that the rate of revenue growth slowed less than it had forecast and that losses weren’t as bad as investors expected. Still, even the company’s slightly raised forecast for 2019 revenue growth of as much as 62% would represent a comedown from last year, when Lyft’s revenue was doubling or more year-over-year. Both Lyft and rival Uber Technologies Inc. are posting slowing growth at the same time they’re telling investors that they’re just barely scratching the surface of their potential. Lyft shares were initially higher in after-hours trading following the release of the earnings report but then retreated.(1)Questions about Lyft’s slowing growth, high losses and the general viability of on-demand transportation have pushed its share price far below the $72 at which the company sold stock in its initial public offering in March. Shares of Uber have also been underwater since its IPO. And those two are far from alone in their misery.For all the hype about the post-2008 class of high-profile, highly valued and highly disruptive technology startups, many of the biggest “unicorns” that have gone public so far have been stinking up public stock markets like a skunk waddling into a picnic. In addition to the decline in shares of Uber and Lyft, the prices for Snapchat, Dropbox Inc., Spotify Technology SA and China’s Xiaomi Corp. and Meituan Dianping are also below their IPO levels. For many of the top tier of richly valued young technology companies, the early message from public investors has been clear: If the company’s business model is a string of question marks and there are few public precedents and high losses, stock buyers are not greeting them with open arms.  The lackluster performance of the unicorn elites isn’t a great setup for WeWork Cos., Postmates Inc., Didi Chuxing Inc. and others in the crop of still-private startup elite edging to go public soon, with even-bigger-than-Uber-sized doubts about their viability and wild valuations. Many more richly valued startups remain private, so it’s too soon to call the elite unicorn crop a success or failure. But if the top-flight startups are being greeted with skepticism in the midst of an unprecedented decade-long bull market for U.S. stocks, what happens when and if market conditions deteriorate? There are notable exceptions to the public investor shunning of unicorns. Investors are crazy in love with young tech companies that sell software or other products to businesses.(2) The tier of tech startups below the richly valued elites such as Uber — think Zoom Video and Stitch Fix Inc. — have typically fared better than many of the superstars. Pinterest Inc., the online scrapbook, has a familiar advertising-based business model, seems to be managing itself well and has a share price that reflects hopes rather than fears. (A familiar business model hasn’t helped the less competently managed Snap Inc. Even after a wild run-up this year, Snap shares are trading below the price at which the company went public in early 2017.) Even with the declines, there probably aren’t many regrets among the early backers of the elite unicorns. Investors who bought shares of companies such as Lyft and Snap early in their lives have made a fortune. Even stock buyers who bought at significantly higher prices soon before the IPO may feel fine about the investments because they were adding to stakes built earlier or they were making relatively small starter investments for giant investment funds.(3)This underscores why the last decade of startup investing has been so odd. It has been economically rational for investors to pour money into young companies and prod them to grow as big and fast as possible. Even when those startups aren’t home runs if they become public companies, those early backers have done fine, or far more than fine. There are few losers, then. The early backers of elite startups are in the black. Buyers of public stocks can shun the young companies if they are too speculative once they go public. It’s all good — except for the startups themselves, perhaps. They are the ones under the most pressure to figure out how to thrive far into the future. (1) Investors seemed a bit spooked by the company's early end to restrictions on insiders to sell Lyft stock. The company's shares are heavily shorted, which tends to exacerbate stock movements.(2) Slack Technologies Inc. may be trading below its first stock sale in its non-IPO earlier this year, but it has generally been greeted warmly and its stock trades at a rich multiple.(3) Some of the unicorns are still underwater compared with share sales from years ago. Dropbox's per-share price now is lower than private purchase of company shares from 2014. Uber's stock is about even with the the level of 2015 share sales. Snap stock price isn't much higher than private share transactions two and a half years ago.To contact the author of this story: Shira Ovide at sovide@bloomberg.netTo contact the editor responsible for this story: Daniel Niemi at dniemi1@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Shira Ovide is a Bloomberg Opinion columnist covering technology. She previously was a reporter for the Wall Street Journal.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • China Prepares to Allow Investors to Buy Xiaomi, Meituan Shares
    Bloomberg

    China Prepares to Allow Investors to Buy Xiaomi, Meituan Shares

    (Bloomberg) -- Chinese authorities proposed rule changes that would for the first time allow local investors to buy shares of some popular technology companies listed in Hong Kong -- including, potentially, Alibaba Group Holding Ltd.The country’s stock exchanges on Friday published draft regulations that would bring stocks with different classes of voting rights into the trading links between the mainland and the former British colony, giving onshore traders access to some of China’s hottest startups.Xiaomi Corp. and Meituan Dianping went public in Hong Kong last year, the first major tech firms to use new rules permitting weighted-voting rights, also known as dual-class shares, on the city’s bourse. Alibaba, which uses the structure and is listed in New York, is said to be readying a Hong Kong listing under the new regulations, which could raise as much as $20 billion.China’s authorities have been trying to find ways to keep the country’s tech companies at home, and last year worked on plans for depositary receipts, which were designed to let dual-class shares, not permitted on its major exchanges, trade onshore. A new trading venue, the Star market, allows the structure, though only smaller companies have so far gone public.Hong Kong Exchanges & Clearing Ltd.’s years-long push for weighted-voting rights, which are often used by tech founders to keep control of their companies even after going public, was in part premised on China-based technology firms choosing Hong Kong over the U.S. because Chinese onshore investors would easily be able to invest via the stock connect. But mainland authorities said in July 2018 that dual-class shares wouldn’t be allowed in the system, a decision that caused Xiaomi’s shares to slump.In December, the Shanghai, Shenzhen and Hong Kong exchanges said they had agreed on a “detailed arrangement” for including shares with unequal voting rights into the connect, without providing more details. The new rules were expected to begin in mid-2019, the bourses said at the time.A change would likely boost HKEX, which stands to benefit from increased trading volume. The bourse operator currently generates about 5% of its revenue from the links with stock exchanges in Shanghai and Shenzhen.Southbound trading through the connect averaged HK$387 million ($49 million) a day over the past year, according to data compiled by Bloomberg. Over the same period, the daily average turnover for Xiaomi shares was HK$743 million, while Meituan’s stock averaged HK$888 million a day since its September debut.Under Friday’s draft proposal, companies would need to meet the following criteria to be included in the stock connect:Average daily market value of at least HK$20 billion ($2.56 billion) for just over six monthsAt least HK$6 billion in total transaction value for just over six monthsBe listed in Hong Kong for at least six months and 20 trading daysThe public comment period for the plans ends on Aug. 9.(Updates with turnover data in eighth paragraph.)\--With assistance from Amanda Wang and Ludi Wang.To contact Bloomberg News staff for this story: Evelyn Yu in Shanghai at yyu263@bloomberg.net;Lucille Liu in Beijing at xliu621@bloomberg.netTo contact the editors responsible for this story: Sam Mamudi at smamudi@bloomberg.net, Sharon ChenFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • South China Morning Post

    Chinese stock exchanges seek public feedback on allowing mainland investors to buy shares in Hong Kong's dual-class structured companies

    Xiaomi, Meituan Dianping and other Hong Kong-listed companies with dual-class share structures are getting a step closer to being accessible to mainland Chinese traders.The Shanghai and Shenzhen stock exchanges on Friday began to seek public feedback on the idea of including companies with weighted-voting rights trading in the city in the stock connect programmes, they said in separate statements on their websites. Nasdaq-style Star Market must show it is more than a casinoThe move would allow mainland investors to trade shares in the likes of smartphone giant Xiaomi and online food-delivery operator Meituan through the southbound channel of the exchange links with Hong Kong. The terms of the plan was agreed earlier between the Shanghai and Shenzhen exchanges and the Hong Kong bourse, before the public consultation phase started.The Hong Kong exchange revised its listing rules in April last year, to allow companies in which founders and key managers enjoy stronger voting rights than other shareholders to list in the city for the first time. Among them were Xiaomi and Meituan, which raised a combined HK$106.8 billion (US$13.6 billion) from their initial public offerings.Still, the city's bourse is facing increasing competition from its mainland counterparts in wooing the listings of fast-growing companies from China. The Shanghai exchange launched the Science and Technology Innovation Board, or Star Market, last month, allowing unprofitable technology companies to go public for the first time. Twenty-five companies trade on the board now.This article originally appeared in the South China Morning Post (SCMP), the most authoritative voice reporting on China and Asia for more than a century. For more SCMP stories, please explore the SCMP app or visit the SCMP's Facebook and Twitter pages. Copyright © 2019 South China Morning Post Publishers Ltd. All rights reserved. Copyright (c) 2019. South China Morning Post Publishers Ltd. All rights reserved.

  • Is Meituan Dianping (HKG:3690) Using Too Much Debt?
    Simply Wall St.

    Is Meituan Dianping (HKG:3690) Using Too Much Debt?

    David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...

  • Wanna Bet $1.3 Trillion on Chinese Regulators?
    Bloomberg

    Wanna Bet $1.3 Trillion on Chinese Regulators?

    (Bloomberg Opinion) -- If you hold shares in New York-listed Alibaba Group Holding Ltd., you don’t own a stake in a Chinese internet powerhouse.What you have are the American depositary receipts of a Cayman Islands company that has a contract with the Chinese firm. In fact, the country’s largest search and e-commerce provider(1)is ultimately controlled by Alibaba Partnership, a collection of 38 people, most of whom hold senior positions in the company.This business structure, called a variable-interest entity, became common among Chinese companies because Beijing restricts foreign investment in certain sectors, such as the internet. It also enables firms to raise money abroad and lets early investors get their funds out of the country. Tencent Holdings Ltd., Meituan Dianping and Baidu Inc. all hew to various versions of the VIE, allowing them to exploit a gap in Chinese law.In total, almost $1.3 trillion in market capitalization is linked to Chinese VIEs listed outside the mainland, according to U.S. credit-ratings provider Standard & Poor’s Financial Services LLC.For now, these companies aren’t doing anything illegal and Beijing hasn’t seen the need to close this loophole. Keeping VIEs operating in a gray area gives policymakers the flexibility to crack down at will. But as the trade war intensifies, China has a growing incentive to keep its tech giants, and their cash, at home. In that light, it’s not inconceivable that officials would take steps to eliminate the structure, even if it spooks foreign investors.For years, knowledge that the Chinese government could take action at any time hung a legal cloud over VIEs. S&P previously accounted for such risk among VIEs operating in sensitive businesses, such as Alibaba and Tencent, though not for others in more mundane areas like retail.In a report last week, analysts Clifford Kurz and Sophie Lin wrote that recent changes in China’s foreign-investment law make no mention of VIEs, after an earlier draft sought to prohibit them. S&P interprets this to mean that concerns have diminished. I understand their reasoning, but disagree with the conclusion.Silence is certainly better than an explicit ban. Yet having a gray area within an opaque legal system simply puts such companies and investors at the whim of policymakers. There may indeed be a lack of incentive to dismantle VIEs today, and doing so probably would hurt foreign-investor sentiment. Neither factor amounts to much if Beijing one day gets fed up with Chinese companies using overseas listings as a way to get their assets offshore.This year alone, 31 Chinese companies chose to raise almost $6 billion by listing in the U.S. Not because they get better valuations there, but because founders and VCs know a public offering in China would give them illiquid assets subject to capital controls. Beijing has tried all sorts of things to encourage its companies to list at home, the latest being the SSE STAR Market – a Nasdaq-style tech board – for which regulators eased rules to attract interest. Yet as my colleague Nisha Gopalan wrote recently, Chinese companies still want to raise dollars, both to fund expansion and give Western venture-capital firms a hard-currency exit.If such carrots keep failing, Beijing could very well bring out sticks. Given the state of U.S.-China relations, there’s little reason to believe policymakers will prioritize the concerns of foreign investors over its own desire to prevent capital flight.This means that in assessing VIEs, foreign investors need to consider whether they’re willing to leave $1.3 trillion to the whims of a Chinese legal gray area.(1) Alibaba's revenue primarily comes from sellers paying to get elevated in search results on its platforms.To contact the author of this story: Tim Culpan at tculpan1@bloomberg.netTo contact the editor responsible for this story: Rachel Rosenthal at rrosenthal21@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Tim Culpan is a Bloomberg Opinion columnist covering technology. He previously covered technology for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • Meituan Launches China's First Charity Project to Support Children of Riders
    PR Newswire

    Meituan Launches China's First Charity Project to Support Children of Riders

    BEIJING, July 17, 2019 /PRNewswire/ -- Meituan (3690.HK), China's leading e-commerce platform for services, and China Charities Aid Foundation for Children (CCAFC) today announced a charity project for children of delivery riders. As the first of its kind in China, the charity project aims to support delivery riders when their children suffer from serious diseases or accidents. The Baby Kangaroo Charity Project, named after the mascot of Meituan Delivery, is jointly launched by Meituan Delivery, Meituan Charity, and 9958 Children Aid Center of CCAFC.