DiDi(US:DIDIY) Mei Ri Jing Ji Xin Wen·2025-05-13 15:08Core Insights - The core viewpoint of the articles is that Meituan is expanding its international presence by entering the Brazilian food delivery market with a significant investment of $1 billion to establish its service "Keeta" in Brazil, aiming to build a nationwide instant delivery network and enhance local restaurant businesses [1][5][6]. Group 1: Investment and Expansion - Meituan plans to invest $1 billion in Brazil over the next five years to support the launch of its food delivery service "Keeta" [1][5]. - The investment represents approximately 20% of Meituan's projected net profit for 2024, indicating a strong strategic focus on the Latin American market [5]. - The company aims to create tens of thousands of delivery jobs and stimulate the local food supply chain and payment services [5][6]. Group 2: Market Dynamics - The Brazilian food delivery market is valued at approximately 139 billion Brazilian Reais (around 174.7 billion RMB) in 2023, with a growth rate of 15% to 20% from 2019 to 2023, outpacing the global average [6][8]. - iFood currently dominates the Brazilian market with an 80% market share, but its delivery efficiency is lower than Meituan's standards, which could provide an opportunity for Meituan to capture market share [7][10]. - The local delivery market has experienced challenges, including iFood's "choose one" policy that previously pushed out competitors like Uber Eats and Didi [6][10]. Group 3: Competitive Landscape - Didi has also announced plans to expand its services in Brazil, including the relaunch of its food delivery service "99 Food," which adds competitive pressure on Meituan [1][9]. - Both Meituan and Didi are entering a market where they will face established players, and their strategies will be crucial in determining their success [11]. - The entry of Meituan and Didi may lead to a subsidy war, potentially impacting iFood's market position and prompting a response from its parent company, Prosus [10][11].