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flag Chinese food delivery giant Meituan reports 22.6% revenue increase to $11.6bn, surpassing expectations, and first net profit of $350m.

flag Chinese food delivery giant Meituan reports a 22.6% quarterly revenue increase to $11.6bn, surpassing analyst expectations, and its first net profit of $350m. flag Meituan, which launched in Hong Kong last year, plans to focus on reducing operating loss in its group-buying grocery unit, Meituan Select, rather than market share growth. flag The company maintains a 69% share of China's $157bn delivery market.

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