(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.