第一财经·2025-09-11 03:15Core Viewpoint - The competition among major internet giants, particularly Alibaba, Meituan, and JD.com, is intensifying in the local service sector, especially after Alibaba's launch of the "Gaode Street Ranking" to rival Meituan's "Dazhong Dianping" [3][7]. Group 1: Competitive Landscape - Alibaba's introduction of the Gaode Street Ranking is seen as a direct challenge to Meituan's core business, which includes food delivery and in-store consumption, leading to increased competition in user traffic and merchant resources [7][8]. - Meituan has responded by reviving its quality food delivery service and leveraging AI to analyze user needs, aiming to improve the reliability of its reviews [3][7]. - The competition is characterized as a "three-way battle" among Alibaba, Meituan, and JD.com, with Alibaba having a more diversified business model that may better withstand short-term subsidy impacts compared to Meituan and JD.com [3][8]. Group 2: Financial Implications - The competitive dynamics have already affected the financial performance of Meituan and JD.com, with both companies experiencing significant impacts in their second-quarter results due to increased competition [8][10]. - Analysts suggest that while Alibaba's Gaode Street Ranking may positively influence its overall business, the intensified competition will pressure profit margins across the board, particularly for Meituan [11]. - The market is observing how these companies will adapt their strategies in response to the evolving competitive landscape, with potential implications for stock performance and investor confidence [10][11]. Group 3: Market Strategies - Analysts emphasize the importance of maintaining competitive advantages, with JD.com needing to optimize its core competencies and explore synergies with local services to mitigate cross-industry competition [10]. - The ongoing price competition among platforms is expected to continue, with investors showing a preference for leading companies that can withstand the pressures of intense competition [11]. - The current market conditions suggest that investors may find value in diversified ETF products that spread risk across major internet players, reflecting the competitive dynamics in the sector [11].