Core Viewpoint - The intense competition between Alibaba's Taobao Flash Sale and Meituan has led to a massive surge in orders, creating a chaotic scene reminiscent of a travel rush, but the stock market reaction has been negative for major players like Meituan, Alibaba, and JD.com, while smaller beverage companies have benefited from the situation [1][12][13]. Group 1: Order Surge and Market Reaction - On July 5, Meituan reported a record-breaking order volume exceeding 1.2 billion, with over 1 billion being food orders, indicating a significant spike in demand due to aggressive coupon promotions [2][4]. - Taobao Flash Sale also saw impressive numbers, with daily orders surpassing 8 million and active users exceeding 200 million, alongside a substantial subsidy plan of 500 billion yuan [4][6]. - Despite the order surge, the stock prices of Meituan, Alibaba, and JD.com fell, with Meituan dropping by 3.4%, JD.com by 1.6%, and Alibaba by approximately 2.4%, while smaller beverage companies like Cha Bai Dao and Mi Xue Ice City saw stock increases of over 10% [1][12]. Group 2: Competitive Landscape and Financial Implications - The ongoing price war has led to significant financial strain on major players, with Meituan's CEO indicating a need for increased subsidy investments to remain competitive, which may result in a slowdown of revenue growth and a substantial decline in operating profits [11][15]. - Since last October, the stock prices of Meituan and JD.com have dropped over 30%, leading to a combined market value loss of approximately 100 billion USD, raising concerns about the long-term profitability of these tech giants [12][13]. - Analysts predict that the current delivery battle may peak in September, with significant losses expected for Alibaba and JD.com in the coming year, while Pinduoduo may benefit from not directly participating in the competition [15].
“外卖三角战”：美团阿里京东齐跌，茶百道古茗蜜雪等奶茶股大涨