三大外卖平台，集体发声

Core Viewpoint - The State Administration for Market Regulation has initiated an investigation into the competitive practices of the food delivery platform industry, addressing issues such as excessive subsidies, price wars, and traffic control that harm the real economy and exacerbate "involution" competition [1] Group 1: Investigation and Regulatory Actions - The investigation aims to assess the market competition status of food delivery platforms, evaluate monopoly risks, and regulate market order, utilizing methods such as on-site verification, interviews, and surveys [1] - The investigation reflects the government's commitment to ensuring fair competition and compliance within the food delivery service industry, encouraging platforms to cooperate and adhere to antitrust responsibilities [1] Group 2: Industry Responses - Meituan expressed strong support for the investigation and emphasized the need for rational competition, committing to collaborate with other platforms to fulfill market responsibilities and promote healthy industry development [2] - Taobao Shanguo welcomed the investigation, pledging to maintain fair competition and work with merchants and partners to enhance service quality [4] - JD.com also supported the decision, advocating against harmful competition and focusing on quality development through supply chain innovation [7] Group 3: Financial Impact and Historical Context - In the third quarter of 2025, Meituan reported an adjusted net loss of 16 billion yuan, indicating that the price war has not created value for the industry and is unsustainable [9] - Alibaba's operating profit for the third quarter of 2025 fell by 85% to 5.365 billion yuan, with its adjusted EBITA for the e-commerce segment down 76% [10] - JD.com's net profit for the same period decreased by 54.7%, with new business losses significantly increasing [10]