Zhi Tong Cai Jing·2025-09-18 02:41Group 1 - Meituan-W (03690) has seen a stock price increase of over 4%, with a cumulative rise of more than 12% this week, currently trading at 108.7 HKD with a transaction volume of 5.432 billion HKD [1] - Meituan's international food delivery brand, keeta, has officially launched operations in Kuwait, marking it as the third location in the Gulf region after Saudi Arabia and Qatar [1] - Based on the successful establishment in Saudi Arabia over the past year, keeta is accelerating its expansion in the Middle East, having launched in Qatar in August and now in Kuwait within a month [1] Group 2 - According to a report from Shenwan Hongyuan, the market regulatory authority has emphasized the need for rational competition and regulation of promotions among major platforms, leading to a more rational subsidy strategy [1] - Meituan, along with Taobao and JD.com, is implementing differentiated projects such as "Pin Hao Fan," "Bao Pin Tuan," and "Qi Xian Xiao Chu" to enhance structural efficiency and reduce unsustainable growth [1] - GF Securities projects that the e-commerce sector will continue to face pressure from food delivery competition in Q3 and Q4, potentially impacting performance [1] - In the long term, a reduction in subsidy intensity from both Meituan and Alibaba is expected to lead to a turning point in profitability for both companies [1]