At yesterday’s close, Meituan (OTCPINK: MPNGF) was up 2.71% to $30.300. MPNGF stock volume was 516.60K compared with its average weekly volume of 385.30K. While the Chinese authorities had recommended the use of more robots by e-commerce giants in the country, the MPNGF stock surged.
How will MPNGF proceed?
Among China’s leading e-commerce platforms, Meituan is the leading platform for service provision. Using technology to connect consumers with merchants, MPNGF’s platform is aimed at helping people eat better and live better. Food and lifestyle services are available as part of the platform, which also offers travel services. A leading provider of on-demand food delivery services worldwide, and the largest ecommerce platform in China for in-store dining services, MPNGF is headquartered in Beijing, China.
The MPNGF provides merchant information, enables consumers to make informed decisions, facilitates the completion of online and offline transactions, and enhances the on-demand delivery experience. Its brands currently include Meituan, China’s favorite online marketplace for services, Dianping, China’s leading discovery tool for local services, Meituan Waimai, offering on-demand delivery services, and Meituan Bikes, offering bike sharing. As of June 30, 2021, MPNGF had 628.4 million annual transacting users and 7.7 million annual active merchants. Over 2,800 cities and counties in China are served by MPNGF.
Over the next year, more than a thousand robots will join China’s biggest online retailers, Alibaba, Meituan, and JD.com as contactless services become more popular due to the pandemic, reported Reuters last week.
- By 2022, their executives predict, there will be over 2,000 robots in use between them, a big increase from now. Falling robotics manufacturing costs will also contribute to this incredible growth.
- The pandemic has led businesses to experiment with drones and box-like robots on wheels, although millions of couriers still deliver packages for as little as 3 yuan ($0.47) in China.
- As couriers scramble to meet rising demand and deadlines, Beijing has also ordered firms to guarantee rest periods for their employees.
- According to MPNGF’s chief scientist Xia Huaxia, “the COVID-19 pandemic has boosted” robot rollout plans.
- When the outbreak in Beijing was high in February 2020, the food-delivery giant launched its robot service earlier than expected.
- com also advanced its robot service launch date, which was scheduled for June 2020 in Beijing, but the company started using the product in Wuhan in February as security had been tightened in the city.
- The number of human delivery personnel still outnumbers robots, which have limitations such as being unable to climb stairs.
- Due to their speed limits and road conditions, robots are only permitted on some routes such as housing estates and school campuses.
Reduced robot costs encourage firms:
In 2025, Meituan (MPNGF)’s robot will cost less than 200,000 yuan, when the industry will see over 10,000 units of such robots in mass production. MPNGF currently employs 100 such robots.