Meituan received 20,722,700 additional shares from JPMorgan Chase

Foreign media have previously reported that Tencent, the major shareholder of Meituan, intends to sell its shares in Meituan. Although Tencent later refuted this statement, it finally distributed the shares of Meituan as dividends to shareholders. The “abandonment” of major shareholders represents in a sense that they are not optimistic about the future of Meituan. However, this increase in JPMorgan Chase’s holdings may be a positive for Meituan. Recently, since the country began to relax the epidemic control, it can be seen that the evaluation of foreign capital on Chinese concept stocks and A shares has changed. JPMorgan Chase’s increase in holdings should be made out of this consideration.