Core Viewpoint - Major food delivery platforms including Meituan, JD, Taobao Flash Sale, and Ele.me collectively called for a halt to disorderly competition in the industry, emphasizing the need for fair promotional practices and sustainable business practices [1][2][3] Group 1: Company Commitments - Meituan pledged to strictly regulate promotional activities, avoid selling below cost, and ensure fair treatment of merchants and consumers [1] - JD committed to resisting unhealthy competition practices such as "0 yuan purchase" and emphasized transparency in marketing activities for merchants and consumers [2] - Taobao Flash Sale and Ele.me promised to rationally plan subsidies, respect merchants' rights, and ensure clear promotional information for consumers [2] Group 2: Industry Context - The recent "food delivery war" has led to concerns over unsustainable practices, including low merchant profits and declining food quality due to excessive order volumes [3] - The State Administration for Market Regulation has previously summoned these platforms to enforce compliance with laws and promote fair competition [3]

Core Insights - The competitive landscape in China's internet sector is intensifying, particularly in the instant retail space, with major players like JD and Alibaba launching significant subsidies to challenge Meituan's dominance [2] - Meituan is currently in a defensive position, struggling to respond to aggressive competition from rivals encroaching on its core business [2] Group 1 - The summer of 2025 is expected to see heightened competition in China's internet market, with JD and Alibaba deploying substantial financial resources to penetrate Meituan's territory [2] - The ongoing competition is likened to a "Three Kingdoms" battle, indicating a fierce struggle among the major players in the instant retail sector [2] - Meituan's strategy may need to evolve beyond traditional defensive tactics to effectively counter the aggressive moves of its competitors [2]

8月1日，三家外卖平台集体发声，对"内卷式"竞争说"不"。 美团表示，"近日，外卖平台补贴引发社会高度关注，美团对此高度重视，将坚决规范促销行为，杜绝不正当竞争行为，推动建立公平有序行业秩序，促进 各方互利共赢。" 对此，美团承诺从自身做起，并积极呼吁行业共同构建良好生态，促进餐饮服务行业规范健康持续发展。 一是开展补贴活动严格遵守《反垄断法》、《反不正当竞争法》、《电子商务法》、《价格法》、《反食品浪费法》等法律法规，不以显著低于成本的价格 销售商品和服务，严重扭曲价格信号，扰乱市场竞争秩序，造成浪费。 二是开展补贴活动依法向商家和消费者公示补贴信息，不对补贴总额进行夸大宣传。 三是不强制或变相强制商家参加补贴活动，切实保障商家自主定价权。 美团表示，外卖市场联系着广大消费者，也关系广大商户和骑手，非理性竞争带来的畸形发展，无论是对消费者，对商户，对骑手都不可能带来可持续的利 益。 午间，"京东黑板报"发布《践行主体责任和社会责任共建外卖行业健康生态》文章表示，外卖行业补贴引发社会广泛关注，不少行业协会、商家发声，希望 停止"0元购"等内卷式补贴促销行为，构建良好行业生态，实现多方互利共赢良性发展。 三、提 ...

Core Insights - The summer travel season in China is experiencing significant growth, with a notable increase in searches for hotels, flights, and travel packages on Meituan's platform [1][3] - Popular domestic travel destinations include major cities like Beijing, Shanghai, and Xi'an, while lesser-known areas are gaining traction among younger travelers [1][3] Group 1: Travel Trends - Hotel accommodation searches increased by 48% year-on-year, flight searches rose by 99%, and travel group searches grew by 42% since July [1] - The top three popular attractions during the summer are Wansui Mountain Wuxia City, Zhongshanling Scenic Area, and Xi'an Museum [1] - Regions such as Jilin, Heilongjiang, Liaoning, and Xinjiang are identified as "cooling-off provinces" with rising tourism interest [1] Group 2: Emerging Destinations - Guizhou's Qiandongnan Miao and Dong Autonomous Prefecture saw a remarkable 197% increase in tourism heat, ranking first in the "emerging cooling-off destinations" list [3] - The popularity of local delicacies and unique experiences in Qiandongnan, such as river rafting and village culture, is attracting a younger demographic [3] Group 3: Activity Preferences - Water-based activities like water parks and rafting have seen a surge, with searches for water parks increasing by 176% and rafting by over 247% [3] - Night tourism is also gaining popularity, with events like the Qinhuangdao International Fireworks Festival drawing significant interest from out-of-town visitors [3] Group 4: Promotional Strategies - Meituan is offering a range of discounts on travel products, including flights, hotels, and attraction tickets, to capitalize on the summer travel boom [3] - Special promotional campaigns, such as "1 yuan for popular attractions," are designed to attract more customers and enhance travel experiences [3]

不过，南向资金当周累计成交7,636.41亿港元，较上周缩量近400亿，主要受恒指大盘连续调整影响。 个股方面，近7天南向资金： 大幅净买入：小米集团-W(01810.HK)36.70亿港元；腾讯控股(00700.HK)35.42亿港元；阿里巴巴-W(09988.HK)22.76亿港元； 美团- W(03690.HK)22.28亿港元；中国人寿(02628.HK)21.01亿港元；理想汽车-W(02015.HK)20.93亿港元；石药集团(01093.HK)16.64亿港元。 大幅净卖出：泡泡玛特(09992.HK)5.43亿港元；老铺黄金(06181.HK)2.79亿港元。 智通财经8月1日讯（编辑 冯轶）据Wind数据显示，本周南向资金累计净流入约590.20亿港元，流入规模环比上周增长约83%，创下4月中旬以来单周最高净 流入水平。 | | | | 南向 | | | | | --- | --- | --- | --- | --- | --- | --- | | 排名 股票代码 | 股票简称 | 净买入 排名 | | 股票代码 | 股票简称 | 净买入 | | 1 2800.HK | 图富基金 | 134 ...

Core Viewpoint - Major platforms such as Meituan, Ele.me, and JD.com have collectively announced their commitment to "regulate promotions" and implement measures to limit subsidy behaviors, indicating a shift towards more rational competition in the market [1] Group 1: Company Actions - Meituan, Ele.me, and JD.com have issued statements on their official websites promising to standardize promotional activities [1] - The companies have outlined several restrictions on subsidy practices, including avoiding irrational promotional activities and not selling goods and services at prices significantly below cost [1] Group 2: Regulatory Context - The simultaneous statements from these platforms may be a response to ongoing regulatory pressures, following a recent round of administrative talks initiated by the State Administration for Market Regulation [1] - On July 18, the State Administration for Market Regulation announced that it had conducted administrative talks with food delivery platforms, urging them to engage in rational competition [1]

Core Viewpoint - The major food delivery platforms in China, including Meituan, Ele.me, and JD, have announced a joint effort to resist "involution" competition and promote a healthier industry ecosystem following intense subsidy wars and regulatory scrutiny [1][4]. Group 1: Industry Response to Competition - The three platforms have expressed a commitment to standardizing subsidy practices, opposing involution, and enhancing service quality, aligning with previous regulatory requirements [4]. - The State Administration for Market Regulation recently urged these platforms to comply with various laws, including the E-commerce Law and the Anti-Unfair Competition Law, to foster a win-win ecosystem for consumers, merchants, delivery riders, and platform companies [4]. Group 2: Specific Stances on Subsidies - JD has stated its position against "0 yuan purchase" and other harmful subsidies, emphasizing the need for a transparent subsidy mechanism and the importance of not inflating market status through order volume [6]. - Meituan has outlined four specific guidelines for subsidy activities, including compliance with laws, not selling below cost, ensuring fair participation for merchants, and maintaining transparency in subsidy information [7][8][9]. - Ele.me has committed to avoiding large-scale "0 yuan purchase" promotions and will focus on reasonable subsidy distribution while respecting merchants' rights [10]. Group 3: Enhancing Service Quality and Cooperation - JD aims to improve service quality by promoting food safety and encouraging responsible consumption, while also providing various incentives to merchants and enhancing rider welfare [12][13]. - Ele.me plans to enhance service quality through diversified consumer experiences and ongoing communication with merchants to optimize operations [14][15]. - Meituan emphasizes the importance of a balanced ecosystem among consumers, merchants, and riders, aiming to improve rider income stability and reduce operational costs for merchants [16][17].

南下资金今日净买入122.07亿港元，为连续第四日净买入额超百亿港元。其中：净买入盈富基金37.44 亿、恒生中国企业17.2亿、小米集团-W 10.99亿、南方恒生科技8.55亿、腾讯控股8.36亿、美团-W 7.66 亿、英诺赛科3.63亿、石药集团2.52亿、快手-W 2.02亿；净卖出信达生物4.02亿、阿里巴巴-W 2.02亿、 中芯国际1.77亿。据统计，南下资金已连续7日净买入腾讯，共计35.42亿港元；连续6日净买入小米，共 计41.35亿港元；连续3日净买入美团，共计26.12亿港元。 ...

据统计，南下资金已连续7日净买入腾讯，共计35.417亿港元；连续6日净买入小米，共计41.3539亿港 元；连续3日净买入美团，共计26.1161亿港元。(格隆汇) 净买入盈富基金37.44亿、恒生中国企业17.2亿、小米集团-W 10.99亿、南方恒生科技8.55亿、腾讯控股 8.36亿、美团-W 7.66亿、英诺赛科3.63亿、石药集团2.52亿、快手-W 2.02亿； 净卖出信达生物4.02亿、阿里巴巴-W 2.02亿、中芯国际1.77亿。 来源：格隆汇APP 格隆汇8月1日｜南下资金今日净买入122.07亿港元，为连续第四日净买入额超百亿港元。其中： ...

Core Viewpoint - The recent focus on subsidies in the food delivery industry has prompted major players like Meituan, Taobao, and JD to advocate for a fair and orderly market environment, emphasizing the need to eliminate unhealthy competition and promote mutual benefits among all stakeholders [2][6][7]. Group 1: Company Responses - Meituan has committed to regulating promotional activities and eliminating unfair competition, aiming to establish a fair industry order that benefits all parties involved [2]. - Taobao and Ele.me have jointly declared their stance against malicious competition and pledged to foster a collaborative ecosystem for mutual benefits [4]. - JD's external communication emphasizes the importance of stopping "0 yuan purchase" promotions and other aggressive subsidy practices to build a healthy industry ecosystem [6][7]. Group 2: Key Initiatives - Companies are focusing on standardizing subsidy practices, ensuring transparency in marketing activities, and allowing merchants to independently manage promotional efforts [7]. - There is a strong emphasis on resisting unhealthy competition by enhancing product quality and service, shifting the focus from subsidies to quality and service excellence [7][8]. - Initiatives to improve service quality include maintaining food safety standards, promoting responsible consumption, and enhancing the overall consumer experience [8]. Group 3: Mutual Benefits - Companies are committed to providing various incentives for merchants, such as commission rewards, advertising support, and delivery fee subsidies, to help them operate more effectively [8]. - Efforts are being made to improve the working conditions and dignity of delivery personnel, fostering a positive cycle among consumers, merchants, delivery workers, and platforms [8].