Core Viewpoint - The discussion around Meituan, Alibaba, and JD.com highlights the competitive dynamics in the food delivery and e-commerce sectors, with Meituan being more focused on food delivery while Alibaba and JD.com leverage their broader business portfolios to subsidize their operations [1][3]. Group 1: Business Performance and Market Dynamics - Meituan holds a dominant position in the food delivery market with a 70% market share, but faces increasing competition from Alibaba and JD.com, who are entering the market aggressively [3][4]. - Alibaba's recent financial report indicates a significant loss in its food delivery segment, estimated at around 15 billion RMB, reflecting the high costs associated with competing in this space [4][6]. - The competition has led to a decline in Meituan's market share by at least 10%, as consumers tend to choose the cheapest option available [6][8]. Group 2: Strategic Focus and Future Outlook - Alibaba's future growth is expected to come from AI and international e-commerce, rather than just food delivery, which is seen as a means to drive overall platform engagement [3][16]. - The ongoing battle in the food delivery market is anticipated to continue into 2026, with all three companies facing significant competitive pressures [15][16]. - Meituan's resilience in operational efficiency and user engagement is highlighted as a potential advantage over Alibaba and JD.com, despite the current competitive landscape [12][16].