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China tech

Meituan latest Chinese unicorn to suffer post-listing slump

Delivery platform joins Xiaomi and Ping An Healthcare in getting sidetracked

Tencent-backed food delivery service Meituan Dianping is venturing into smaller cities in China. (Photo courtesy of Meituan)

GUANGZHOU -- Chinese online-delivery service Meituan Dianping has hit a wall in just the half year since going public, joining a host of startups in the country that have lost steam after debuting on the stock market.

Meituan last week reported a net loss of 115.4 billion yuan ($17.2 billion) for 2018, as its touted purchase of bike-sharing giant Mobike turned costly due to major restructuring.

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