Group 1 - The stock performance gap between Alibaba and Meituan has widened significantly, with a year-to-date return of 130% for a long position in Alibaba and a short position in Meituan [2] - Meituan's shares have declined due to market share loss in food delivery to Alibaba, while Alibaba's stock has doubled, driven by the artificial intelligence boom [2][3] - Analysts maintain a cautious stance on Meituan and a positive outlook on Alibaba, suggesting that the pair-trade strategy may continue to be effective [4] Group 2 - Intense price competition in the food delivery sector has escalated since Alibaba increased its efforts in April, with implications for other market segments [5] - Alibaba is enhancing its app to support local services and has started offering in-store dining vouchers in three cities, indicating a strategic expansion [5][6] - Meituan plans to raise approximately $3 billion in bonds to compete more effectively, as it faces challenges from Alibaba and other competitors [6] Group 3 - Meituan is expected to report a net loss of around 14.5 billion yuan ($2 billion) for the quarter ending September 30, while Alibaba is projected to have a net profit of 9.5 billion yuan, despite a 78% year-over-year decline [7]