Xin Lang Cai Jing·2026-01-07 02:33Core Viewpoint - The ongoing food delivery war among JD, Alibaba, and Meituan has led to significant employee concerns and financial losses, with discussions revealing a lack of confidence in the strategies being employed by these companies [1][13][14]. Group 1: JD's Performance and Employee Sentiment - JD announced that 92% of its employees received full or excess year-end bonuses, with total investment increasing by 70% year-on-year, indicating a strong financial commitment despite underlying issues [1]. - However, JD employees expressed significant concerns about the sustainability of their food delivery business, with market share plummeting from 31% to 8% within a year, leading to fears of system collapse [10][11]. - The company reported a cumulative loss of 31.8 billion yuan in new businesses for the first three quarters of 2025, with marketing expenses surging by 110.5% [11][12]. Group 2: Alibaba's Strategic Confusion - Alibaba employees are confused about the company's pivot back to food delivery amidst a focus on AI, with many questioning the effectiveness of the strategy given the significant financial losses [4][5]. - The company's operating profit fell dramatically to 5.37 billion yuan in Q3 2025, an 85% decrease from the previous year, while sales and marketing expenses soared by 105% [6]. - Employees expressed skepticism about the long-term viability of the food delivery strategy, questioning whether it was a genuine effort for future growth or merely a short-term fix [6][7]. Group 3: Meituan's Anxiety and Market Position - Meituan employees are experiencing anxiety over the company's declining market share, which dropped from 60% to 50%, alongside a reported net loss of 16 billion yuan in Q3 2025 [7][10]. - The company faced its first quarterly loss in three years, with marketing expenses increasing by 91%, raising concerns about the sustainability of its business model [8][10]. - Employees are divided on the necessity of engaging in the food delivery war, with some believing that competition is essential for revenue generation, while others feel the pressure is unsustainable [10].