More pain on the menu Apr 3, 2020 (WiC 489)
“Gradually more and more merchants are coming back; however, on the demand side consumers still have concerns in terms of interaction and health risks from the restaurant side, so that’s making the whole process more complicated”
Chen Shaohui, CFO of Meituan-Dianping, cautions on the prospects of the app’s food delivery business. Meituan is expecting an operating loss in the first quarter because of the coronavirus after making its first annual profit (of Rmb2.2 billion) in 2019.
Fever forever Mar 27, 2020 (WiC 488)
“It would be perfectly normal if the virus comes and goes, and lasts for one or two years”
The warning from Zhang Wenhong, head of Shanghai’s Covid-19 clinical expert team, during a video-conference organised by the Chinese consulate in Düsseldorf.“I can tell you now, forget the idea that the pandemic will come to an end in Europe in the near future,” he told the audience.
Go with the flow Mar 20, 2020 (WiC 487)
“We are beginning to see impacts on March volumes from when many [Chinese] workers were quarantined”
Jim Newsome, chief executive of the South Carolina Port Authority, tells the Financial Times that exports from China are down. He expects container volumes in March and April to be “15-20% lower versus our business plan”. The FT says port data in China suggests exports have started to recover, however.
Car trouble Mar 13, 2020 (WiC 486)
“The outbreak is a real test of a company’s core competency and the ability to adapt to the new environment. Weak players will be more vulnerable”
He Xiaopeng, XPENG Motors chairman, tells the Financial Times that 2021 will be the year electric cars go mainstream and that he’s “cautiously optimistic” on his industry despite the impact of the coronavirus.