Meituan, the Chinese food delivery and services provider, reported a net profit of RMB 3.36 billion in the first quarter of 2023, boasting a return to profitability. Revenue from local commerce such as food delivery, in-store, hotel, and travel also increased by 25.5%. CEO Wang Xing is credited for driving the success of the company by revolutionizing different businesses and adapting to consumer needs in China.