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Chen Liang, senior vice president of Meituan and member of the S-team, the highest decision-making body, has recently resigned from his position. In fact, in the past year, Chen has gradually faded out of the daily operation and management of the Chinese food delivery giant.
ChengXin YouXuan moved its headquarters to Beijing and Hangzhou at the end of July. The firm then cancelled the extra salary of employees and shifted its main goal from pouring money into business growth to pursuing profits.
The leading two companies in the domestic food delivery industry – Meituan and Ele.me – are now promoting "group buying food" services, while keeping a low profile.