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China's Meituan reports second consecutive quarterly loss

BEIJING, May 28 (Reuters) - Chinese food delivery giant Meituan reported a second consecutive quarterly loss on Friday, weighed down by its expansion into the community group-buying business that relies heavily on subsidies.

It reported a loss of 4.85 billion yuan ($762.4 million) in the period versus a 1.58 billion yuan loss a year earlier, when its business was hit by nationwide coronavirus curbs.

$1 = 6.3612 Chinese yuan renminbi Reporting by Yingzhi Yang and Tony Munroe in Beijing; Editing by Jan Harvey

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