Asia Tech Wire (Aug 23) -- Wang Xing, chief executive officer of Chinese food delivery giant Meituan (3690.HK), released an internal email on Friday, announcing progress in the organizational restructuring.

According to the email, Meituan has merged businesses including SaaS, bike-sharing, and power bank into "hardware and software services," appointing Senior Vice President Zhang Chuan to head the segment.

The company has also merged its B2B food delivery unit Kuailv, Xiaoxiang Supermarket, and Meituan Select into "grocery retail," which will be headed by Senior Vice President Guo Wanhuai.

Meanwhile, Meituan has officially renamed its offshore business Keeta, which will be headed by former Kuaishou executive Tony Qiu, who joined Meituan in 2022.

In addition, other departments remain unchanged.

The organizational restructuring is a continuation of Meituan's business consolidation so far this year.

Earlier this year, Meituan announced that it would make adjustments to its organizational structure by integrating the former to-home and to-store business groups, the basic research and development platform and the Meituan platform.

The above business was then officially named "core local business" segment, for which Wang Puzhong is responsible.