Caixin
Nov 18, 2021 12:17 AM
BUSINESS

U.S.-Listed Chinese E-Grocers Bleed Red Ink Despite Rising Orders

nullA deliveryman packs orders into the back of an electric motorcycle outside a Beijing Missfresh warehouse in Aug. 2020. Photo: VCG 
nullA deliveryman packs orders into the back of an electric motorcycle outside a Beijing Missfresh warehouse in Aug. 2020. Photo: VCG 

Missfresh Ltd. and Dingdong Ltd., both U.S.-listed Chinese online grocery platforms since the summer, suffered widening losses in the third quarter even as revenues grew.

In the three months through September, Nasdaq-listed Missfresh’s net loss attributable to ordinary shareholders swelled to 973.7 million yuan ($151.1 million) from 616.2 million yuan a year ago, while its revenue rose 47.2% year-on-year to 2.1 billion yuan, according to its earnings report released last week.

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