HONG KONG -- Chinese online services provider Meituan Dianping apparently lost its appetite for bike-sharing despite the company's $2.7 billion takeover of Chinese startup Mobike last year.
Wang Xing, CEO of the Hong Kong-listed company, told analysts in an earnings call Monday that Meituan will focus on its core food delivery business in 2019 and bolster efforts to reduce losses caused by other initiatives such as bike-sharing.
