Shares of local life service provider Meituan Dianping (3690.HK) jumped by up to 9.98 percent in Tuesday trading, pushing its market cap to over 100 billion U.S. dollars, making it the 3rd Chinese internet company to reach the threshold after Tencent and Alibaba.]

The biggest food delivery platform in China announced Q1 2020 results Monday. Affected by the COVID-19 outbreak, revenue declined by 12.6 percent to 16.8 billion yuan, and operating losses widened by 31.6 percent to 1.7 billion yuan y-o-y.

But the figures are better than estimate, and demand for Meituan's services are recovering.