Meituan reports profit for first quarter

Chinese e-commerce platform Meituan on Thursday reported an operating profit of 3.59 billion yuan ($509 million) in the first quarter, from a loss in the same period last year. Its total operating revenue in the first three months jumped 26.7 percent year-on-year to 58.6 billion yuan, according to the company's unaudited financial results.

Adrian Cheng to invest in new energy

Adrian Cheng, the influential scion of New World Development, has turned his gaze toward EV charging solutions provider NaaS, an emerging powerhouse in China's New Energy Service industry. According to its F1 filings submitted to the US Securities and Exchange Commission, investors and institutions, including Cheng, have expressed their intention to purchase 3.5 million American Depository Shares offered in NaaS' upcoming issuance. The New World Group has previously expressed a desire to improve urban renewal, commerce, education, healthcare, cultural preservation and technology in the Guangdong-Hong Kong-Macao Greater Bay Area.