The Biggest Food Delivery Company in China Caps Off a Blockbuster Year
For those anticipating how the U.S. might bounce back from coronavirus, investors may wish to look to China. Though COVID-19 first broke out there in the city of Wuhan, the Chinese eventually got the virus under control after severe lockdowns of Wuhan, the surrounding Hubei province, and other major cities.
For those looking for a snapshot of how the Chinese economy is coming back to life, Meituan Dianping (OTC: MPNGF) may be a name to follow. The company is the largest food delivery service in China. In addition, its online platform sells in-store services, hotel bookings, and travel bookings, along with new initiatives such as bike-sharing, online grocery, and restaurant management software.
Meituan just reported its fourth-quarter 2019 earnings, which came in extremely strong. However, Meituan also offered a more mixed picture of the post-COVID-19 world in China that is slowly getting back on its feet.
Source Fool.com
