The stock price of China food delivery company fell after China imposed new rules to protect overworked delivery drivers. The stock was last traded at HK$194.00 ($24.93) each Tuesday in - a 17.66% daily fall.

The guidelines spooked market participants and fueled concerns of decreased profits for food delivery companies.

Meituan's share price dropped 14% from a Friday close of $68.37 per share to a Monday opening of $61.16 per share. The stock closed Monday even lower at $58.92 per share. Analysts said investors were likely worried about the rising costs of employment-related to the newly imposed rules.

Under the new guidelines imposed by China's market regulator, all food delivery companies are legally required to make sure that all workers receive incomes above minimum salary levels and adequate insurance. Companies are also required to provide "appropriately relaxed delivery time limits" to ease the burden on drivers.

In May, Meituan's chief executive officer, Wang Xing, said that the company was working with the government to secure employment injury insurance coverage for its drivers.

The State Administration for Market Regulation said companies should also have "reasonable" order volumes. The agency said companies will be required to provide drivers with appropriate training so they are aware and abide by all traffic rules.

Food delivery companies like Meituan have received nationwide criticism over their treatment of delivery drivers, which are the lifeblood of China's notoriously frenetic delivery sector. Activists within the sector have demanded that companies pay their workers appropriately and protect their rights.

Several posts on social media have caught the attention of regulators, including those showing how riders had to deal with impossible delivery times and routes to fulfill orders. China news media showed how some companies had penalized drivers for late deliveries even if the delay was caused by customers.

President Xi Jinping previously called on government agencies to do more to protect the interests of couriers and food delivery drivers.

The new guidelines were issued by the administration and six other departments, including the National Development and Reform Commission, the Cyberspace Administration of China and the Ministry of Public Security.