China food delivery giant Meituan reports 10bn yuan loss after paying antitrust fine

Meituan, who works in China’s food supply and housing sector, also said the loss was worse than expected in the third quarter, after he swallowed a fine by Chinese antitrust authorities, with his $ 48.8 billion yuan in line with forecasts. The Beijing-based company lost $ 1.565 billion (US $ 1.565 billion), which was offset by analysts’ estimates of the $ 7 billion losses. This compares with a profit of 6.3 billion yuan over the last year. Rising prices …


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