每经AI快讯，9月10日，香港交易所信息显示，摩根大通(JPMorgan)在美团-W的持股比例于9月5日从 6.00%降至5.94%，平均股价为102.9867港元。 ...

9月10日，港股三大指数继续走强，均录得4连涨行情，皆刷新阶段新高位。截止收盘，恒生指数涨 1.01%站上26000点大关，国企指数涨0.93%，恒生科技指数涨1.27%亦站上9200点上方。 | 名称 | | 最新价 | 涨跌额 | 涨跌幅 | | --- | --- | --- | --- | --- | | 恒生指数 | | 26200.26 | +262.13 | +1.01% | | 800000 | | | | | | 国企指数 | | 9328.16 | +85.76 | +0.93% | | 800100 | | | | | | 恒生科技指数 | my 3 | 5902.69 | +73.95 | +1.27% | | 800700 | | | | GDEC | 盘面上，作为市场风向标的大型科技股持续上涨助力大市上扬，京东涨3.6%，百度涨2.8%，美团涨 2%，腾讯涨1%，阿里巴巴涨0.6%4连升，创近4年新高；大金融股普遍上涨，内银股涨幅相对明显，农 业银行涨3.5%，建设银行涨2.84%；半导体芯片股全天表现活跃，龙头中芯国际涨3.6%，脑机接口概念 股、影视娱乐股、濠赌股、内房股、苹果 ...

Core Viewpoint - Alibaba is intensifying its competition with Meituan in the local lifestyle service sector, launching the "Gaode Street Ranking" to enhance its presence in the "to-store" business, while Meituan is reviving its quality takeaway service [2][8]. Group 1: Alibaba's Strategy - Alibaba's "Gaode Street Ranking" is based on real user behavior, focusing on repeat customers and is not commercialized, aiming to differentiate itself from Meituan's high market share [2][4]. - The "Gaode Street Ranking" project was initiated in June and now covers over 300 cities and 1.6 million offline service providers, including over 870,000 restaurants and 230,000 hotels [3]. - The ranking system utilizes AI to filter out false information and is integrated with the Sesame Credit system to enhance trust [4]. Group 2: Meituan's Response - Meituan announced the revival of its quality takeaway service on the same day as Alibaba's announcement, leveraging its extensive user review data to improve service reliability [8]. - Meituan's second-quarter financial report showed a revenue of 91.84 billion yuan, a year-on-year increase of 11.7%, but a significant drop in net profit by 89% [9]. - Despite the challenges, Meituan's app reached over 500 million monthly active users, with a 40% year-on-year increase in order volume for its to-store business [9]. Group 3: Market Dynamics - The competition between Alibaba and Meituan is heating up, with both companies accelerating the construction of their local lifestyle service ecosystems and extending their subsidy wars from takeaway to in-store services [2][7]. - The market is observing the impact of these new strategies, with both companies announcing substantial subsidies to attract customers, including over 1 billion yuan from Gaode and 25 million takeaway vouchers from Meituan [7][8]. - Analysts suggest that while Gaode's new ranking may disrupt Dazhong Dianping (Meituan's review platform), it will take time to build user trust and recognition [7].

Core Viewpoint - Alibaba has officially launched its new product "Gaode Street Ranking," which is based on user behavior and credit scoring, aiming to enhance local service offerings and compete with Meituan's Dazhong Dianping [3][4][12]. Group 1: Product Launch and Features - "Gaode Street Ranking" is prominently displayed on the Gaode App homepage and includes categories such as "Top Scholars," "Street Ranking," "Popular Check-ins," and "City Guide" [3][7]. - The ranking system under "Top Scholars" features lists like "Must-Eat Foods," "Must-Visit Attractions," and "Must-Stay Hotels," while "Street Ranking" includes categories like "Local Favorites" and "Tire Wear Ranking," with daily updates based on dynamic data [8][10]. - The product aims to provide a reliable ranking system by incorporating the Alipay Sesame Credit system to calibrate user ratings, thus preventing score manipulation [4][16]. Group 2: Competitive Landscape - The launch of "Gaode Street Ranking" is seen as a strategic move to counter Meituan's Dazhong Dianping, which recently announced a revival of its quality takeaway service [4][11][17]. - Both companies are engaged in an escalating competition in the local service sector, focusing on technology empowerment and content authenticity [11][17]. Group 3: User Engagement and Incentives - Gaode has initiated a "Support for Local Good Stores" program, offering over 1 billion yuan in subsidies to drive foot traffic to offline dining and service industries, with an aim to attract 10 million customers daily [10]. - The platform plans to distribute 950 million yuan in consumer vouchers to encourage users to visit local businesses, covering costs entirely by the platform [10].

Core Insights - Alibaba has officially launched its first behavior and credit-based ranking product, "Gaode Street Ranking" [2][4] - The launch of "Gaode Street Ranking" is seen as a strategic move to compete with Meituan's Dianping in the local service sector [5][9] - The ranking system aims to reflect genuine user choices and will incorporate Alipay's Sesame Credit system to ensure the credibility of user evaluations [9][13] Summary by Categories Product Launch - "Gaode Street Ranking" is prominently featured on the homepage of the Gaode app and includes categories such as "Top Scholars," "Street Ranking," "Popular Check-ins," and "City Guide" [2][4] - The ranking will be updated daily based on dynamic data, with specific categories highlighting different types of user behaviors [5] Competitive Landscape - The launch coincides with Meituan's announcement to "restart" quality takeout services on Dianping, indicating an ongoing competitive rivalry between Alibaba and Meituan in the local service market [2][8] - Both companies are enhancing their platforms to improve content authenticity and user experience, with Alibaba focusing on technology and consumer services as key strategic opportunities [8][9] User Engagement and Trust - To prevent score manipulation, "Gaode Street Ranking" will require user authorization to integrate the Sesame Credit system, which will serve as a calibration factor for merchant ratings [9][13] - The initiative aims to address concerns over the reliability of traditional ranking systems, which have been criticized for being susceptible to biased reviews and manipulation [9][13] Financial Incentives - Gaode has initiated a "Support for Good Shops" program, allocating over 1 billion yuan in subsidies to drive foot traffic to offline dining and service businesses [7] - The platform will also distribute 950 million yuan in consumer vouchers to encourage users to visit featured shops, covering all associated costs [7]

Core Insights - Alibaba is intensifying competition with Meituan in the local services sector, launching the "Gaode Street Ranking" to challenge Meituan's dominance in the dining and service industry [1][2][3] - Meituan has responded by reviving its quality takeaway service, indicating a fierce battle in the local lifestyle market [2][7] Group 1: Alibaba's Strategy - The "Gaode Street Ranking" is based on real user behavior, focusing on repeat customers rather than likes or collections, and aims to differentiate itself from Meituan's offerings [1][3] - The project has been in development since June and currently covers over 300 cities and 1.6 million offline service providers, including over 870,000 restaurants [3][5] - Alibaba aims to leverage its credit system and AI capabilities to filter out false information and enhance user trust in the rankings [3][6] Group 2: Meituan's Response - Meituan announced the revival of its quality takeaway service, utilizing AI and real user reviews to improve decision-making for consumers [7][8] - The company has a history of integrating high-quality dining options into its takeaway service, which has been a significant part of its strategy since 2014 [8] - Meituan's second-quarter financial report showed a revenue of 91.84 billion yuan, with a year-on-year growth of 11.7%, but a significant drop in net profit by 89% [9][10] Group 3: Market Dynamics - Both companies are engaged in a subsidy war, with Gaode announcing over 1 billion yuan in subsidies to attract customers to offline dining and services [6][10] - The competition is expected to evolve as both companies work to enhance their local service ecosystems and improve consumer engagement [2][6] - Analysts suggest that while Meituan has a strong market position, the introduction of Gaode's ranking system could disrupt the existing dynamics due to its unique data advantages [6][10]

大众外卖、高德点评？一边是2500万张消费券，一边10亿补贴，阿里和美团又开新战场了。 昨晚阿里美股跳空上涨我就知道必有大事发生啊，果然今天就高调推出高德扫街榜。这不就是一个阿里 版的大众点评吗？除了外卖和闪购，显然阿里又开始围剿美团的另一座城池。 美团来了一招围剿与反围剿，同一天宣布大众点评"重启"品质外卖服务。 高德称发放10亿补贴，鼓励用户到店消费，给全国线下店铺多带去1000万消费者，每天为小店带来5000 万流量的精准曝光。美团宣布大众点评"品质外卖"将同步发放2500万张不同种类的大额"品质外卖"消费 券。 市场现在有两种观点： 有人认为阿里一边出血一边回血，外卖电商互相倒流，越烧钱对阿里越有利。也有人认为本地生活依然 是美团独大，阿里烧钱只是打压了美团股价，对于竞争格局不会有改变。 今天上午港股市场，阿里巴巴连续4天大涨，创近4年新高。美团股价重新收复100元失地。 不管是此前的外卖大战，还是现在新一轮的互搏，看来三季度业绩才是两位巨头实力见真章的时刻！ （文章来源：21世纪经济报道） 高德扫街榜号称永不商业化，美团称首批已集合超百万家高分堂食店。这话暂且听听就好了，主要我们 看看两巨头打架给消 ...

来自中国的两家科技巨头正在巴西"大打出手"。近期，美团与滴滴在当地的外卖市场竞争中实施了一系 列颇具针对性的商业行动。 二者的市场竞争已迅速蔓延至法庭。8月14日，美团旗下国际外卖品牌Keeta在巴西最大城市圣保罗对滴 滴旗下的99Food提起诉讼，指控该平台违反巴西竞争法。Keeta声称99Food动用约9亿雷亚尔（约合1.65 亿美元）与餐厅签署排他性协议，这些协议禁止餐厅在合同期内与Keeta合作。而且，相关协议并未限 制餐厅与巴西本土外卖龙头iFood的合作——该平台控制着该国约80%的市场份额。 Keeta在声明中表示："此类条款明显旨在阻挠Keeta进入巴西市场、限制竞争并抑制创新。"这种"二选 一"的做法标志着两家中国巨头间的紧张关系来到了新的高度。滴滴旗下的99Food于上个月在巴西上 线，并投入10亿雷亚尔开拓市场。据报道，小型餐厅可获得数十万雷亚尔的前期激励，大型连锁餐厅可 获得的金额更是高达1300万雷亚尔。 此次法律冲突之前，双方曾就"关键词广告营销"对簿公堂。8月，圣保罗法院对99Food发出禁令，要求 其停止购买"Keeta"相关的谷歌关键词及操纵搜索结果。法院认定该行为误导消费者 ...

Core Viewpoint - Alibaba's launch of the "Gaode Street Ranking" is seen as a direct challenge to Meituan's Dianping, indicating intensified competition in the food delivery and dining service sectors [1][2]. Group 1: Company Actions - Meituan announced the official "restart" of its Dianping quality takeaway service, claiming to have gathered over 1 million high-rated dining establishments for this initiative [1]. - Dianping's quality takeaway service now covers various categories, including the "Must-Eat List," "Black Pearl," and high-star hotel restaurants, with over 1,400 restaurants listed on the 2025 "Must-Eat List" and nearly 30 on the "Black Pearl" list [1]. - On the same day, Dianping issued 25 million different types of high-value takeaway coupons to attract customers [1]. Group 2: Market Data - In the past year, Dianping accumulated 363 million authentic reviews, with daily "photo reviews" browsing volume increasing by 11% year-on-year [2]. - The rate of users prioritizing negative reviews reached 14%, with the number of users opting to view negative reviews increasing by 36% year-on-year [2]. Group 3: Future Plans - Dianping aims to invite more restaurants to join its platform based on real customer ratings and the actual operational status of businesses, striving to provide comprehensive services for all high-rated dining establishments across the country [2].

Core Viewpoint - The Chinese food delivery market is entering a "strong constraint" era due to intensified regulations aimed at curbing irrational competition and excessive subsidies among major platforms [1][4][6]. Regulatory Environment - The State Administration for Market Regulation (SAMR) has mandated major food delivery platforms to adhere strictly to laws and regulations, prohibiting unfair competition and harmful subsidies [4][6]. - The revised Anti-Unfair Competition Law introduced in 2025 explicitly prohibits platforms from forcing merchants to sell below cost, providing a legal basis to combat harmful subsidies [6]. Market Dynamics - The food delivery market has seen a significant shift in competition, evolving from a "duopoly" dominated by Meituan and Ele.me to a "tripartite" battle involving Meituan, Alibaba, and JD.com [3][14]. - Following JD.com's entry into the market with a "0 commission + 10 billion subsidies" strategy, a fierce subsidy war ensued, leading to extreme promotional tactics and a surge in order volumes [5][9]. Financial Impact - The intense competition has severely eroded profits for the major players. For instance, Meituan's adjusted net profit for Q2 2025 plummeted by 89% year-on-year, while Alibaba and JD.com also reported significant profit declines [9][10]. - High marketing expenditures have become a norm, with the three companies collectively spending over 1 trillion yuan on sales and marketing in Q2 2025, averaging over 30 billion yuan per month [9][10]. Merchant and Consumer Behavior - Merchants are increasingly diversifying their partnerships across multiple platforms to mitigate risks associated with reliance on a single platform [11]. - The competitive landscape has led to a re-evaluation of consumer preferences, with active user engagement on the apps of Meituan, Alibaba, and JD.com showing varying growth rates [14]. Future Outlook - Analysts predict a potential shift towards a "duopoly" market structure, with Alibaba and Meituan leading, contingent on continued financial investments and strategic adaptations [16]. - The industry is expected to transition from a "price war" to a "value war," focusing on technological innovation and sustainable business practices to foster long-term growth [17].