Meituan aims to make 60,000 new hires to support Group Buying.

What You Need To Know

Meituan is looking to hire to support their Group buy business and their B2B restaurant supply business. The roles will be in logistics support and marketing.

What does this mean?

In our previous company report, the “other” business division provided 9% of their RMB 22 Billion revenue. It is heartening that they are looking to expand this area of the business.

Is it a buy?

Meituan services have been very popular during the Covid-19 period and the market has richly rewarded it with a strong pricing demand. At a basic earning per share of HKD 0.90, the stock price is rather elevated. Local growth seems to be embedded at any price above HKD 300.

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