疯狂星期六

Core Viewpoint - The recent escalation in the food delivery battle in China has led to significant promotional activities, including "0 yuan" offers for beverages, indicating a fierce competition among major platforms like Meituan and Alibaba [2][9]. Group 1: Promotional Activities - On July 12, major food delivery platforms initiated large-scale subsidies, particularly featuring "0 yuan milk tea/coffee" promotions that went viral online [2]. - Meituan launched a "0 yuan delivery" campaign, allowing users to redeem free drinks from popular brands, with only a minimal delivery fee if not picked up in-store [3]. - Alibaba's Taobao Shanguo introduced various discount coupons, including "18.8 yuan free order cards," covering multiple meal times, enabling users to achieve "0 yuan purchase" [5]. Group 2: Market Impact - The promotional activities led to a surge in orders at beverage stores, with some locations experiencing order numbers exceeding four digits and wait times surpassing one hour [7]. - Investment banks, including Goldman Sachs and HSBC, have lowered Alibaba's target stock price by an average of 8% due to the intensified competition in the food delivery sector [9]. - Analysts predict that Alibaba's aggressive investment in the food delivery and instant retail sectors will significantly weaken its near-term profit outlook, with potential losses in the food delivery business reaching approximately 41 billion yuan (around 5.7 billion USD) over the next year [10].