Meituan’s Wang Xing Suffers $1.1 Billion Wealth Dip Due To Subsidy War
Food deliverymen from Meituan, JD.com and Alibaba’s Ele.me jockey for position on a street in Shenyang, Liaoning Province, in June. VCG via Getty Images Wang Xing, founder of Chinese food delivery leader Meituan, saw his wealth plunge $1.1 billion during morning trading Thursday as his company’s Hong Kong-listed shares sank as much as 11.3% after…