Meituan willing to sacrifice profitability for growth as business model shifts from subsidies to investments

//Meituan willing to sacrifice profitability for growth as business model shifts from subsidies to investments

Meituan willing to sacrifice profitability for growth as business model shifts from subsidies to investments

Chinese food-delivery giant Meituan Dianping will continue to prioritise investments in new food-related businesses over profitability after reporting wider losses in the fourth quarter on Monday, according to its chief financial officer. “Profitability is not our most important goal in the short term, and we’ll continue to invest in areas such as our restaurant management system, and build up our ecosystem for the users and the merchants,” said Chen Shaohui, CFO and senior vice-president…

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By | 2019-03-12T11:00:14+00:00 March 12th, 2019|Business|Comments Off on Meituan willing to sacrifice profitability for growth as business model shifts from subsidies to investments