Chinese O2O giant Meituan-Dianping has denied a recent media report that its major shareholder Tencent has withdrawn from its new round of financing which is said to be underway, claiming that the statement is erroneous and that the company as a whole has broken even.

Meituan Senior Vice President Chen Shaohui said that the company has not initiated a new financing round so far, nor has it had a listing plan, and the “Tencent withdrawal” statement is thus made without any factual basis.

Lin Haifeng, the General Manager of Tencent’s Merger and Acquisitions Department, also viewed the withdrawal statement as a pure rumor, and said that Tencent is bullish on future prospects of localized consumer services and Meituan’s continuous business layout in this space; and that Tencent and Meituan have been deepening their strategic cooperation.

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Sheila Yu

Sheila Yu is a Shanghai-based technology writer. She brings readers the biggest news from Chinese language tech media. Reach her at sheila@technode.com.