Page 20 - Wang Xing News Today

Coco Liu, Yoojung Lee and Ishika Mookerjee, Bloomberg News Wang Xing , Bloomberg (Bloomberg) -- It took just 28 Chinese characters on an obscure social media platform to ignite a controversy that’s rattled the country’s tech industry. Meituan CEO Wang Xing lost $2.5 billion of his wealth after he posted verses from a millennium-old poem about the misguided attempts of China’s first emperor to quash dissent. Wang, a usually plain...

Shares in Meituan, China’s largest food delivery platform, have tumbled after its chief executive posted – and then deleted – an ancient poem in a move widely seen as possible criticism of the Chinese government. Authorities are investigating the company over allegations of anti-monopolistic behaviour, part of a wider crackdown on technology companies. Meituan’s stock price lost 5.3% on Tuesday and plunged as much as 9.8% on Monday after its chief executive Wang Xing posted the classica...

Meituan shares slump as fallout from CEOs poem post festers by Reuters Share: SHANGHAI, May 11 (Reuters) - Shares of Chinese food delivery giant Meituan slumped further on Tuesday in a sell-off precipated by the social media posting by its chairman of an ancient poem that was perceived by some as criticising the government and President Xi Jinping. The company, which recently raised $10 billion, has lost $30 billion in market value over two days amid a broader drop in Chinese tech sha...

Shares in Meituan, China’s largest food delivery platform, have tumbled after its chief executive posted – and then deleted – an ancient poem in a move widely seen as possible criticism of the Chinese government. Authorities are investigating the company over allegations of anti-monopolistic behaviour, part of a wider crackdown on technology companies. Meituan’s stock price lost 5.3% on Tuesday and plunged as much as 9.8% on Monday after its chief executive Wang Xing posted the classica...

May 11, 2021 Wang Xing, co-founder, chairman and chief executive of Meituan Dianping, is seen during the the companys global offering press conference at the Island Shangri-La Hotel in Admiralty. South China Morning Post Wang Xing, the co-founder of China’s dominant food delivery service Meituan, has sparked a social media frenzy and a sell-off of its stock, after posting a millennium-old Chinese poem seen as an unsubtle jab at the government. The 42-year-old internet entrepreneur, whose com...

Provided by Dow Jones By Yifan Wang Hong Kong technology stocks were sharply lower in early trade Tuesday following steep losses for the sector in U.S. trading overnight. Shares of Meituan suffered the heaviest losses on the benchmark Hang Seng Index, dropping as much as 8.7% to HK$240, its lowest intraday level since September last year. The dive came after Shanghai authorities said late Monday that Meituan had been ordered to revamp its operations and correct p...

Chinese Delivery Giant Meituan In Trouble After CEOs Puzzling Post Meituan CEO Wang Xing lost $2.5 billion of his wealth after he posted verses from a millennium-old poem about the misguided attempts of Chinas first emperor to quash dissent. Updated: May 11, 2021 8:09 pm IST It took just 28 Chinese characters on an obscure social media platform to ignite a controversy thats rattled the countrys tech industry. Meituan CEO Wang Xing lost $2.5 billion of his wealth after he posted verses from ...

SINGAPORE (AP) – Shares in Meituan, China’s largest food delivery platform, have tumbled after its CEO posted – and then deleted – an ancient poem in a move widely seen as possible criticism of the Chinese government. Authorities are investigating the company over allegations of anti-monopolistic behavior, part of a wider crackdown on technology companies. Meituan’s stock price lost 5.3% on Tuesday and plunged as much as 9.8% on Monday after its CEO Wang Xing posted the classical...

China app giant Meituan tumbles after CEOs poetic swipe at officials AFP 1 day ago © WANG ZHAO A Meituan food delivery man rides his scooter in Beijing Shares of Chinese online giant Meituan plummeted for a second straight day Tuesday amid a run of bad headlines that included the CEO posting an ancient poem viewed as a veiled criticism of Chinas government. Popular Searches Meituans Hong Kong-listed shares closed more than five percent lower Tuesday -- and down around 12 percent since last...

Shares in Meituan, China’s largest food delivery platform, have tumbled after its chief executive posted – and then deleted – an ancient poem in a move widely seen as possible criticism of the Chinese government. Authorities are investigating the company over allegations of anti-monopolistic behaviour, part of a wider crackdown on technology companies. Meituan’s stock price lost 5.3% on Tuesday and plunged as much as 9.8% on Monday after its chief executive Wang Xing posted the classica...