JD(HK:09618) Nan Fang Du Shi Bao·2025-08-01 07:01Core Viewpoint - Major food delivery platforms including Meituan, JD.com, Ele.me, and Taobao have collectively committed to resisting disorderly and malicious competition, particularly in response to the recent "subsidy war" [1][5][8]. Group 1: Company Statements - Ele.me and Taobao issued a joint statement emphasizing the need to plan subsidies reasonably based on consumer and merchant needs, while also ensuring merchants' rights to know, choose, and set prices [5][8]. - Meituan stated that it will strictly adhere to various laws and regulations, ensuring that subsidy activities do not involve selling goods and services at prices significantly below cost [5][8]. - JD.com declared its commitment to resisting malicious competition and will not engage in practices like "0 yuan purchases" that distort market dynamics [5][8]. Group 2: Market Reactions - Following the announcements, stock prices for Meituan, JD.com, and Alibaba saw significant increases in the Hong Kong market [1]. - The market capitalization of JD.com is reported at HKD 361 billion, with a trading volume of 8.2073 million shares on August 1 [3]. Group 3: Industry Context - The recent subsidy wars have placed many merchants in a difficult position, with reports indicating that while high subsidies initially boost order volumes, they lead to a decline in average order value once subsidies are withdrawn [5][6]. - Industry associations have called for an end to "involutionary" price wars and urged platforms to stop interfering with merchants' pricing rights, advocating for a focus on food safety and support for small businesses [7][8]. Group 4: Future Implications - The upcoming "first cup of milk tea in autumn" promotion period is anticipated to be a critical time for observing how platforms implement their marketing strategies in light of the recent commitments [9].