Meituan Warns Local Rivalry, Global Push to Hurt Profits

Meituan warned its profitability may suffer as the Chinese food delivery leader faces intensifying competition at home and is aggressively expanding into new markets.

The firm is now considering rolling out its on-demand delivery service outside China as part of its goal to become a global company, Chief Executive Officer Wang Xing told analysts on a post-earnings call on Monday. Meituan will not move too fast in its international push, he added.