Di Yi Cai Jing·2025-04-22 05:55Core Viewpoint - The competition between JD.com and Meituan in the food delivery sector is intensifying, leading to concerns about the depth of their competitive "moats" and potential impacts on profitability for long-term investors [2][5][6] Company Competition - JD.com and Meituan are aggressively competing for market share, which may lead to increased costs and reduced revenues, impacting short-term profits [3][4] - JD.com announced plans to double its full-time rider recruitment from 50,000 to 100,000 in response to competitive pressures, and will offer free delivery for orders delayed by over 20 minutes starting April 21 [3][4] - Meituan refuted claims of restricting riders to a single platform, emphasizing that riders have always been able to work across multiple platforms [3][4] Market Dynamics - Analysts suggest that the heightened competition could pressure both companies' revenues and profits, particularly for Meituan, which has established a strong market position over the years [4][6] - The competition is expected to drive both companies to improve their service offerings and operational efficiencies, potentially benefiting the overall industry [6][7] Financial Performance - Meituan reported a total revenue of 337.6 billion yuan for 2024, a year-on-year increase of 22%, with a net profit of 35.8 billion yuan, up 158.4% [7] - JD.com achieved a total revenue of 1,158.8 billion yuan in 2024, reflecting a 6.8% year-on-year growth, with a net profit of 41.4 billion yuan [7]