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Meituan Dianping, China’s largest on-demand services provider, posted a 12.6 per cent drop in first-quarter revenue, as the coronavirus pandemic disrupted the company’s food delivery operations and other businesses.
Although the weak results in the March quarter were expected, the Beijing-based company warned that various factors, “including the ongoing pandemic precautions, consumers’ insufficient confidence in offline consumption activities and the risk of merchants’ closure would continue to have a potential impact on our business performance”, according to in its stock exchange filing on Monday.
Meituan posted revenue of 16 . . .
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