Shares in Meituan Fall as Senior Director Exits Over Graft Claims
Liao Shumin
/SOURCE : yicai
Shares in Meituan Fall as Senior Director Exits Over Graft Claims

(Yicai  Global) Dec. 4 -- Shares in Meituan Dianping, China's biggest on-demand  services provider, fell in trading today following the outcome of an  anti-corruption probe that resulted in the firing of a senior director,  as well as criminal investigations for 89 individuals. 

Stocks  [HKG:3690] were down 2.97 percent at HKD53.85 (USD47.92) as of 3.25  p.m. Beijing time. The firm fired a senior director for takeout  distribution surnamed Chang after his involvement in financial  misconduct during improper business dealings with agents, the  Beijing-based firm said in a statement.

The  company's internal investigation team had been probing 29 criminal  cases related to disciplinary violations since February and reported 89  people to the administration of public security for further action with  the assistance of teams from its business, human resource, risk control,  technology, information technology, internal control and internal audit  departments. 

Meituan Dianping joined hands with Tencent,  Baidu, JD.Com, Walmart China and other 10 firms, to form the Trust and  Integrity Enterprise Alliance last year, aimed at dealing with  corruption. The group agreed not to recruit those found to have been  involved in such activities cases in the past. 

Follow Yicai Global on
Keywords: Meituan Dianping , Anti-Corruption