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the co-founder of meituan reduced his holdings in the company’s shares.

on october 3, according to information disclosed by the hong kong stock exchange, mu rongjun, co-founder, executive director and senior vice president of meituan (03690.hk), reduced his holdings at an average price of hk$171.8055 per share on september 30. 2 million shares, totaling approximately hk$344 million. after the reduction, the number of shares held is approximately 56.31 million shares.

the data shows,in 2024, mu rongjun also reduced his holdings by a total of 2 million shares twice in april.

according to meituan’s 2024 mid-year report, as of june 30, 2024, meituan had a total of 6.221 billion issued shares, including 597 million class a shares and 5.625 billion class b shares. according to information in the mid-year report, mu rongjun held 80.72 million class a shares at that time, with a shareholding ratio of 13.53%, and held 31.92 million class b shares, with a shareholding ratio of 0.57%.

the annual report shows that mu rongjun is the co-founder, executive director and senior vice president of meituan.aged 44, he is responsible for financial services and corporate affairs. mu rongjun has more than 15 years of management and operating experience in the internet industry. before co-founding meituan, he served as a senior software engineer and project manager at baidu from july 2005 to may 2007. mu rongjun is also the co-founder of fanfou.com and served as the company's technical director from may 2007 to july 2009.

mu rongjun received a bachelor's degree in automation engineering from tsinghua university in july 2002 and a master's degree in computer science and technology from tsinghua university in july 2005.

it is worth noting that the recent upward trend in meituan’s stock price has been obvious. as of the close of trading on october 3, meituan was trading at hk$205, an increase of 3.96%, setting a new closing high in more than two years. meituan’s closing price on september 30 was hk$172, an increase of 4.5%. since september, meituan’s share price has increased by more than 70%.

previously, on august 28, meituan (3690.hk) released its second quarter and half-year performance report for 2024.in the second quarter of this year, meituan achieved revenue of 82.3 billion yuan, a year-on-year increase of 21%, and adjusted net profit of 13.6 billion yuan, a year-on-year increase of 77.6%;revenue in the first half of the year was 155.527 billion yuan, a year-on-year increase of 22.9%, and adjusted net profit was 21.1 billion yuan, a year-on-year increase of 60.4%. based on the profit of 13.6 billion yuan in the second quarter, meituan’s average daily profit in the second quarter of this year was 149 million yuan.