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MEITUAN-W: Rider Social Security Pilot Project Expected to Launch in 2Q25
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MEITUAN-W (03690.HK) management boasted during a recent earnings call that its overseas brand, Keeta, holds a leading edge in product offerings, technological capabilities, and operational expertise. Building on progress in Riyadh, Keeta extended its reach to additional cities in December last year and January this year. Currently, Keeta operates in over six major cities in Saudi Arabia. For markets beyond Saudi Arabia, the company is still conducting research, with no specific expansion plans to share at this stage. Regarding overseas operations, Meituan’s management believed that multiple businesses, including Ella Supermarket, have strong long-term potential. However, in the short term, the group will focus on market research and pilot projects, avoiding overly aggressive investments. Akin to its development path in China, the group aims to establish on-demand food delivery as a foundation before gradually expanding into other areas. Looking ahead to this year, Meituan plans to allocate considerably more financial resources to its overseas business compared to 2024, driving robust scale growth and rapid market share gains. At the same time, the group will closely monitor return on investment (ROI) and continue improving operational efficiency. Moreover, Meituan disclosed plans to launch a pilot program for rider social security under regulatory guidance, expected to begin in select cities in 2Q25 and gradually roll out nationwide over the coming years based on regulatory directives. The initiative may be further adjusted based on feedback and evaluations. AAStocks Financial News |
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