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Media reported that Deliveroo plans to exit Hong Kong after weak sales and growing competition from Meituan's (OTCPK:MPNGF) (OTCPK:MPNGY) Keeta and will sell its Hong Kong asset to rival Food
Meituan: Accelerating Global Expansion, Keeta Strengthens Market Leadership
Summary
- Meituan's Keeta is set to dominate Hong Kong's food delivery market, capturing over 50% market share following Deliveroo's exit.
- Keeta's success in Hong Kong validates the Company's global growth potential, leveraging proven strategies from China to expand internationally.
- Keeta's expansion in the GCC region and potential entry into Singapore highlight its strategic adaptability and market penetration capabilities.
- We remain bullish on Meituan, seeing it as a promising global player amid China's economic challenges and AI-focused rally.
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