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Shanghai Consumer Council releases criticism of Meituan; shares plunged

Shares in Meituan plummeted after the Shanghai Consumer Council published criticism of problems late on Monday. The council, an influential consumer protection group, blamed Meituan for its practices, including refund problems and misleading content in its mobile app. The company has promised to submit a report to fix the issues soon. This comes just after the company's CEO posted a critical poem on social media, which had caused the same attention.


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