Hua Er Jie Jian Wen·2025-09-11 07:08Core Insights - Alibaba's Gaode Map has launched the "Gaode Street Ranking," the world's first ranking based on user behavior, signaling a renewed focus on the local life services market [1][2] - Morgan Stanley analysts view this move as a clear indication of Alibaba's intent to reshape the competitive landscape in local services, particularly impacting Meituan's profitability [1][4] Group 1: Market Strategy - The "Gaode Street Ranking" is similar to Meituan's model, indicating Alibaba's strategic push into in-store services, which may extend competition into this area [1][2] - Gaode Map, with nearly 200 million daily active users, provides a significant traffic entry point for Alibaba to penetrate the in-store service market [2][3] - The launch of the "Gaode Street Ranking" is just the beginning, with expectations for more related services and products to be introduced in the future [2][3] Group 2: Financial Implications - Morgan Stanley has downgraded Meituan's long-term profitability forecast for in-store services from 2.5% to 2% due to increased competition from Alibaba [4][5] - Meituan's core local business is projected to incur an operating loss of 10 billion yuan in Q3, with a significant decline in profitability expected for the 2025 fiscal year [5] - Alibaba's core logic for investment preference is based on its cloud business's growth and the anticipated double-digit growth in its core e-commerce customer management revenue [5] Group 3: Competitive Landscape - The competition in local life services is expected to intensify, with Alibaba's technological capabilities and user base positioning it favorably in this rapidly growing market [5] - The introduction of a 1 billion yuan incentive plan aims to stimulate consumer traffic to offline dining and service industries, indicating Alibaba's aggressive approach to market penetration [2][3]