Reuters
Reuters
(The author is a Reuters Breakingviews columnist. The opinions expressed are their own.)
HONG KONG (Reuters Breakingviews) – China’s technology companies need not sacrifice growth for profitability. The $142 billion Meituan reported http://media-meituan.todayir.com/202206021833371703258715_en.pdf operating profit in its core food delivery business jumped 41% year-on-year to 1.6 billion yuan ($241 million) in the three months to March, partly thanks to an easing subsidy war with rivals. At the same time, the company grew annual users by over a fifth to 693 million. E-commerce giant Alibaba, which also has a competing food delivery app, grew…
