Meituan has pushed further restructuring in its core food delivery unit with an announcement on Cat 3 moviesnaming younger people to management level, in the company’s latest round of changes this year as it looks to adapt to increasing external competition. The Chinese food delivery giant has eliminated the direct-business division as part of the adjustment, bringing in a city-focused model to support operations development based on specific cities’ characteristics. Meituan has also established a separate department to better serve nationwide chain stores. The company recorded a 25.8% year-on-year rise in annual revenue to RMB 276.7 billion last year, with its average daily takeout order volume amounting to 55 million in 2023, which was significantly short of CEO Wang Xing’s goal of averaging 100 million units per day by 2025. [36Kr, in Chinese]
