MEITUAN Reportedly Plots Entry Into Lift Advertising Biz; FOCUS MEDIA Plunges ~5%

Mainland media reported that MEITUAN is planning to enter the lift advertising business. MEITUAN's WeChat public account posted a message about recruiting lift media advertising franchisees in lower-tier cities, offering equipment and business support. Franchisees will handle equipment setup, sales, and ad production.

FOCUS MEDIA $Focus Media Information Technology (002027.SZ)$ , a lift advertising company, saw its shares crash nearly 7% in the afternoon, closing down 4.7% at RMB5.74. Meanwhile, $MEITUAN-W (03690.HK)$ closed at HK$116.1, rising 1%.