北京商报讯（记者 魏蔚）1月9日，国家市场监督管理总局发布公告，国务院反垄断反不正当竞争委员 会办公室将对外卖平台服务行业市场竞争状况开展调查、评估。对此，美团官方发布公告称，美团坚决 拥护，将全力做好配合工作，"将以此次调查为契机，和行业内各平台一起，共同落实市场主体责任， 公平参与市场竞争"。 国家市场监督管理总局官网也刊文表示，近段时间以来，外卖平台服务行业拼补贴、拼价格、控流量等 问题突出，挤压实体经济，加剧行业"内卷式"竞争，社会各方面反映强烈，本次调查评估将通过现场核 实、当面访谈、问卷调查等方式，深入了解外卖平台竞争行为，广泛听取平台内经营者、新就业群体、 消费者等各方意见，全面调查市场竞争状况，组织开展分析论证，传导监管压力，提出处置措施。 ...

据"美团Meituan"消息，1月9日下午，国务院反垄断反不正当竞争委员会办公室对外卖平台服务行业市 场竞争状况开展调查、评估。美团坚决拥护，将全力做好配合工作。 ...

新京报讯据美团消息，1月9日下午，国务院反垄断反不正当竞争委员会办公室对外卖平台服务行业市场 竞争状况开展调查、评估。美团坚决拥护，将全力做好配合工作。 近一段时间以来，外卖市场"拼价格、拼补贴、控流量"等非理性竞争问题突出。美团多次呼吁行业回归 理性，坚决反对"内卷式"竞争。美团将以此次调查为契机，和行业内各平台一起，共同落实市场主体责 任，公平参与市场竞争，促进外卖平台服务行业创新和健康发展。 ...

Group 1 - The Hong Kong stock market saw a net inflow of 68.15 billion HKD from northbound trading, with 16.6 billion HKD from Shanghai and 51.55 billion HKD from Shenzhen [1] - The most bought stocks included Tencent (00700), Xiaomi Group-W (01810), and Kuaishou-W (01024), while the most sold stocks were Alibaba-W (09988), China Mobile (00941), and Goldwind Technology (02208) [1][2] Group 2 - Alibaba-W (09988) had a net outflow of 26.21 billion HKD, with a total trading volume of 65.69 billion HKD, indicating significant selling pressure [2][7] - Tencent (00700) received a net inflow of 14.11 billion HKD, supported by a report from Morgan Stanley highlighting its AI strategy and high potential for monetization [4][5] - Xiaomi Group-W (01810) attracted a net inflow of 8.69 billion HKD, with plans for 200 billion HKD in R&D investment over the next five years [5] - Kuaishou-W (01024) saw a net inflow of 7.76 billion HKD, driven by strong performance in AI-generated content [5] - Semiconductor company SMIC (00981) had a net inflow of 6.92 billion HKD, following a strategic acquisition that is expected to positively impact earnings [6] - Goldwind Technology (02208) faced a net outflow of 1.94 billion HKD, despite potential positive catalysts from its stake in Blue Arrow Aerospace [7]

Group 1 - The State Council's Anti-Monopoly Committee has announced the initiation of an investigation and assessment of market competition in the food delivery platform service industry [1][2] - Meituan has expressed strong support for the investigation and will fully cooperate with the authorities [1][2] - Recent issues in the food delivery market include irrational competition characterized by price wars, subsidies, and traffic control [1][2] Group 2 - Meituan has repeatedly called for the industry to return to rational competition and has firmly opposed "involutionary" competition [1][2] - The company aims to use this investigation as an opportunity to work with other platforms in the industry to fulfill market responsibilities and promote fair competition [1][2] - The goal is to foster innovation and healthy development within the food delivery platform service industry [1][2]

港股100研究中心顾问余丰慧向第一财经记者表示，阿里巴巴在即时零售与人工智能领域的推进，对其 他互联网企业产生显著外溢效应。即时零售方面，阿里加大闪购等资源投入，行业竞争强度随之提升， 美团、京东需同步加快布局，通过优化服务及运营效率维持份额。人工智能方面，阿里持续迭代大模型 及应用，促使腾讯、百度等公司加速技术落地，行业整体研发节奏加快，具备技术储备、增长路径清晰 的企业获得更多关注。 1月8日下午，阿里巴巴（09988.HK）面向投资者的交流信息显示，淘宝闪购在最新季度取得关键进 展。阿里集团对于淘宝闪购2026年的投入战略明朗化：闪购首要目标是份额增长，会坚定加大投入以达 到市场绝对第一。 1月8日下午阿里巴巴一度加速下跌，全天跌2.26%，盘中一度创出141港元阶段新低，相比10月高点累 计下跌约25%；隔夜美股大幅反弹超过5%，引发投资者憧憬；1月9日香港交易时段，阿里巴巴高开后 回落，半天上涨2.81%，中午报收146.6港元，成交近115亿港元，京东集团（09618.HK）上涨近3%，美 团（03690.HK）下跌2.38%。 业内人士认为，阿里巴巴这一举动加剧了竞争，而本身有更多人工智能方面的 ...

Geopolitical Tensions - Iran's Supreme Leader, Ayatollah Ali Khamenei, has intensified rhetoric against former U.S. President Donald Trump, urging him to focus on domestic issues while accusing "rioters" of damaging public property to appease foreign powers amidst ongoing internal unrest [2][3][8] - Khamenei emphasized the need for Iranians to "preserve unity" in the face of challenges, as protests continue due to economic hardships [3] Online Delivery Market in China - China's regulatory bodies, led by the State Administration for Market Regulation (SAMR), are scrutinizing the online delivery sector, particularly food delivery platforms, to evaluate competition and ensure fair practices [4][5] - Major players in the sector, including Meituan, Ele.me, and JD.com, are facing investigations regarding their competitive practices and adherence to food safety standards [5] Global Food Prices - The World FAO Food Price Index recorded a decline for the fourth consecutive month in December, reaching an average of 124.3 points, down from 125.1 points in November, indicating a slight easing in global food commodity prices [6][8] Retail Sales in Italy - Italy's retail sales showed stable growth in November, with a year-on-year increase of 1.3%, matching the previous month's growth rate, and a month-over-month rise of 0.5%, indicating consistent consumer spending [7][8]

Group 1: Hang Seng Index and Market Overview - The Hang Seng Index (HSI) closed at 26,149 points, continuing its downward trend, although it showed slight recovery towards the end of the trading day [1] - Investors are divided, with some anticipating a small rebound while others are holding bearish certificates, expecting the index to drop back to 25,900 points [1] - Technical analysis indicates a predominance of "sell" signals, with 8 sell signals compared to 6 buy signals, suggesting caution in the current market [2] Group 2: Meituan (03690.HK) - Meituan's stock price closed at 101 HKD, with concerns about potential declines to 96 HKD if it breaks the support level of 97.1 HKD [8] - The stock is currently showing a neutral signal with no clear upward or downward trend, as buy and sell signals are roughly equal [8][11] Group 3: Bilibili (09626.HK) - Bilibili's stock price closed at 216.6 HKD, showing resilience by rising slightly despite the overall market decline [13] - Technical signals indicate a majority of sell signals (9) compared to buy signals (4), with a support level around 202 HKD [13] Group 4: Sunny Optical Technology (02382.HK) - Sunny Optical's stock closed at 63.85 HKD, nearing the lower boundary of the Bollinger Bands, with increasing volume during the decline [16] - The technical summary shows a majority of buy signals (10) against 3 sell signals, suggesting potential for a rebound [20] Group 5: SMIC (00981.HK) - SMIC's stock price closed at 74.95 HKD, with a neutral technical signal indicating no clear direction [22] - Support is around 70 HKD, while resistance is at approximately 79.5 HKD, suggesting a wait-and-see approach for investors [22] Group 6: BYD (01211.HK) - BYD's stock continued to decline, closing lower but with reduced trading volume compared to the previous day, indicating a potential stabilization [31] - The short-term trading range is estimated between 91.5 HKD and 97.8 HKD, providing a reference for investors [31]

Core Viewpoint - 2025 is a pivotal year for Meituan, as it faces intensified competition in the food delivery market, necessitating a reevaluation of its business model and strategies to adapt to a changing landscape [1][2]. Group 1: Business Performance and Market Position - Meituan's Q3 financial report for 2024 exceeded market expectations in terms of revenue, profit, and reduced losses in new businesses, leading Morgan Stanley to highlight it as a key player in the Chinese internet sector for the upcoming year [1]. - The competitive landscape has shifted, with Meituan no longer operating independently within the local lifestyle market but rather in a larger consumer market where it faces stronger competition from major players [1][2]. - The delivery service revenue for Q3 2025 accounted for approximately 34% of core local revenue, down from around 40% in the same period of 2024, indicating a decline in the contribution of delivery services to overall revenue [7]. Group 2: Strategic Adjustments - Meituan's core challenge is to find a new "high-frequency to low-frequency" approach through various adjustments, including enhancing high-frequency traffic sources, improving operational efficiency, and increasing user retention for high-margin businesses [2][10]. - The company is focusing on revitalizing its high-frequency grocery business, which aligns with its operational logic and the trend towards integrated online and offline retail [10]. - Meituan is also targeting the lower-tier markets for food delivery, which, despite lower penetration rates, present significant growth potential for increasing traffic and expanding into more consumer sectors [11]. Group 3: Competitive Landscape and Challenges - The food delivery market's dynamics have changed, with Alibaba leveraging its larger scale and financial resources to offer lower prices, thereby increasing the competitive pressure on Meituan [5][6]. - Meituan's delivery business, which was previously profitable, is now projected to incur losses, with an estimated loss of approximately 1 RMB per order by 2025 [7]. - The competition has intensified with new entrants and existing players like Douyin and Xiaohongshu aggressively targeting the group buying and local services market, complicating Meituan's operational environment [19][20]. Group 4: Operational Enhancements - Meituan is enhancing its ground-level operational capabilities, focusing on local supply chain efficiency and service experience to differentiate itself in the competitive landscape [12][14]. - The company is also investing in personalized delivery services, such as the "1-to-1 urgent delivery" initiative, to attract higher-value consumers and improve service reliability [12]. - Meituan's supply chain capabilities are being strengthened through initiatives like promoting direct sourcing in its grocery business, which is essential for improving efficiency and product differentiation [17][18].

Group 1 - The core point of the news highlights the short-selling ratios and amounts for various companies, indicating significant market activity and investor sentiment towards these stocks [1][2][3] Group 2 - The top three companies by short-selling ratio are Anta Sports-R (82020) and Li Ning-R (82331) at 100.00%, and Tencent Holdings-R (80700) at 90.68% [1][2] - The highest short-selling amounts are recorded for Alibaba-W (09988) at 3.199 billion, Meituan-W (03690) at 1.835 billion, and Xiaomi Group-W (01810) at 1.518 billion [1][3] - Tencent Holdings-R (80700) has the highest deviation value at 45.50%, followed by Beike-W (02423) at 40.51% and China National Offshore Oil-R (80883) at 40.26% [1][3]