Meituan Maicai, an online grocery service operated by food delivery giant Meituan, was profitable for multiple months last year, according to local media outlet LatePost. The report comes after NYSE-listed rival Dingdong Maicai recorded its first quarterly profit at the end of 2022, and Alibaba-owned Hema Xiansheng broke even in 2022 after seven years of investment. Meituan Maicai currently operates more than 500 front-end warehouses, with a daily average of 1.1 million orders, the report said. LatePost also reported that Meituan Maicai is planning to expand into more eastern cities in China this year while pursuing profitability, starting with an upcoming operation in Suzhou, a major city in Jiangsu province. [LatePost, in Chinese]
