China’s food delivery giant Meituan set to display business resilience in third quarter despite divestment by Tencent

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Chinese on-demand services giant Meituan is expected to maintain sales growth in the September quarter when it reports financial results on Friday, analysts said, as the company’s business fundamentals remain resilient despite a slowing economy.

A steady rise in revenue could help shore up investor confidence in Meituan, after snap lockdowns across China dealt a heavy blow to restaurants, hotels and entertainment venues. The company’s major shareholder Tencent Holdings said last week it would give away around US$20 billion worth of Meituan shares as dividends to its shareholders.