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Meituan shares drop as woes continue By CHENG YU | China Daily | Updated: 2021-05-12 09:13 Share CLOSE A deliveryman for Meituan, the country s on-demand service platform, delivers food in Beijing. [Photo provided to chinadaily.com.cn] The share price of Chinese food delivery company Meituan fell 5.25 percent on Tuesday to HK$249,($32.07), after the company was summoned by authorities for harming the rights of deliverymen and consumers. The company s stock price has fallen nearly 45 percent from a peak of HK$460 per share in February this year, which means that the $206 billion company has lost nearly half of its market value. The plunge came as Meituan faced fresh scrutiny after a Meituan employee said during a conversation with authorities in Beijing that nearly 10 million registered deliverymen on the company s take-away platform are not regulars, but outsourced personnel.

Shi jialongThomas shenLi junhuiAlibaba group holding ltdChina state administration for market regulationChina university of political scienceChina universityPolitical scienceState administrationMarket regulationAlibaba group holdingBeijing based deheng law officesDelivery menதாமஸ் ஷென்அலிபாபா குழு வைத்திருத்தல் லிமிடெட்சீனா பல்கலைக்கழகம் ஆஃப் பொலிடிகல் அறிவியல்