Meituan CEO Wang Xing Says Firm May Exit Some Investments; CFO Flags Share Buyback Plan

At Meituan’s annual general meeting of shareholders, CEO Wang Xing said the company’s share price performance in recent years has been unsatisfactory and that he feels a heavy sense of responsibility, according to 36Kr. Wang said Meituan will focus on running the business well and called for more rational development across the industry. Wang also said Meituan has some strong external investments that could generate good returns if they list, and the company may actively exit such investments when conditions are appropriate. CFO Chen Shaohui said Meituan’s current valuation is severely undervalued and that the company plans to conduct share buybacks.