【Love Conquest】

Chair of Ele.me Wu Zeming said the new management team has outlined the food delivery arm’s operating plan for the next three years,Love Conquest which it has formed in discussion with its parent company Alibaba. The move is “the best response” to external speculation over the delivery firm’s potential sale, Wu claimed. According to Chinese tech media outlet 36Kr, the Meituan rival recently held a routine annual meeting that had core managers attendance, with former lead Yu Yongfu noting Ele.me is “already on a healthy development track” and will embark upon a new three-year business and operational implementation strategy. “Whoever sets goals must lead the team down the road, otherwise it will have a relatively large impact on targets if the leader moves halfway through the process,” said Yu, according to 36Kr’s report. Despite Ele.me continuing to maintain positive financial figures since the June quarter of 2022, it has yet to record profit. [36Kr, in Chinese]

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