Core Insights - The article discusses the challenges faced by small local businesses, represented by "Old Zhang," in adapting to the competitive landscape dominated by platforms like Meituan and Douyin [2][3][22] - It highlights the differing platform attributes of Meituan and Douyin, with Meituan focusing on efficiency and clear consumer intent, while Douyin leverages content-driven engagement to stimulate impulse buying [6][22] Platform Attributes - Meituan is characterized as a traditional local service platform that efficiently connects consumers with businesses, focusing on clear consumer needs and providing a stable service infrastructure [5][6][27] - Douyin, on the other hand, operates as a social entertainment platform that drives consumption through engaging content, allowing for spontaneous purchasing behavior [6][22][23] Business Strategies - Meituan's strategy revolves around promotional activities, optimizing store visibility, and maintaining high service quality to ensure customer satisfaction and repeat purchases [16][18][19] - Douyin's approach emphasizes content creation, influencer partnerships, and leveraging its algorithm to drive traffic and sales, focusing on creating engaging and visually appealing content [21][22][24] Cost Structures - Douyin has recently reduced entry barriers for merchants by lowering deposit requirements and offering zero-cost entry for many categories, making it more accessible for small businesses [10][11] - In contrast, Meituan maintains a more complex and higher deposit structure, which can be a barrier for smaller merchants, alongside a commission model that varies between 10% to 25% [12][13] Market Dynamics - The competition between Meituan and Douyin is intensifying, with both platforms evolving their strategies to capture market share and adapt to changing consumer behaviors [9][28] - The article suggests that both platforms are not in direct competition but rather complement each other in creating a dual ecosystem for local businesses [22][29]

Group 1: Business Overview - The main business of Hangzhou Wanlin Shulian Technology Service Co., Ltd. focuses on blockchain application services, with blockchain traceability and certification services accounting for approximately 80% of total revenue [2] - In 2024, Wanlin Shulian is projected to achieve operating revenue of 9,338.69 million and a net profit of 2,323.57 million, indicating steady growth in business scale and profitability [2] Group 2: New Cultural Tourism Sector - The company began its cultural tourism business in 2019, primarily focusing on hotel scene layout and space creation [3] - As of the end of 2022, the company strategically invested in Shanghai Xinzhi Yuan Information Technology Co., Ltd., which operates six hotels under the brand Huai Xi Hotel, achieving an average occupancy rate of 70%-80% through Douyin's new media operations [3] Group 3: Main Business Development and Accounts Receivable - The company's main business includes landscape design services and landscape greening engineering contracting, with a gradual decline in engineering contracting business scale due to industry factors [3] - The company has established a receivables collection team to improve accounts receivable recovery through communication with owners and legal actions, with expectations for improved recovery this year [3] Group 4: Future Business Strategy - The company plans to focus on expanding its design business while positioning the cultural tourism sector as its second main business, supported by an established investment fund to seek advantageous projects for sustainable development [3]