以下文章来源于侃见财经 ，作者侃见财经 侃见财经 . 看见不一样的财经！ 互联网的"流量"困境，不仅困住了电商巨头，也困住了头部的短视频平台。 而外卖以及到店酒旅，都成了互联网头部平台"突围"的重要方向。 相比于到店酒旅业务，外卖板块的竞争更加白热化，自京东杀入外卖行业以来，外卖行业的补贴大战再起，与美团以及饿了么的三国杀，也让行业的格局 发生了些许变化。 截至目前，外卖大战已经告一段落，但行业的暗争还在继续。 面对巨大的流量入口，外卖板块已经成了头部电商以及短视频平台的必争之地。 有消息称，快手也已经下场。 跟美团闪购、淘宝闪购一样，快手也开始上线了独立的外卖入口。 实际上，早在今年年初，快手就上线了"外卖"业务，不过快手的打法和之前字节的做法一样，都是绑定外卖平台。 例如，此前抖音选择了和饿了么合作。 根据当时的合作设计，饿了么将基于抖音开放平台，以小程序为载体，与抖音一起通过丰富的产品场景和技术能力，助力数百万商家为数亿抖音日活用户 提供从内容种草、在线点单到即时配送的本地生活服务。 但是，这一合作最终没能取得预想的效果。 2024年，抖音外卖几经调整，先被划入抖音电商和"小时达"协同作战，后又于202 ...

Core Viewpoint - The article discusses the challenges faced by major internet platforms, particularly in the e-commerce and short video sectors, as they seek to expand their market presence through food delivery services and other avenues [1][2]. Group 1: Industry Competition - The food delivery sector has become a critical battleground for leading e-commerce and short video platforms, with intense competition following the entry of JD.com into the market [2][5]. - The competition in the food delivery market has intensified, leading to a resurgence of subsidy wars among major players like Meituan and Ele.me [2][4]. - Despite the conclusion of the initial food delivery battle, underlying competition continues as platforms seek to capture significant traffic [4]. Group 2: Company Strategies - Kuaishou has entered the food delivery space, launching an independent delivery service similar to Meituan and Taobao, aiming to leverage existing partnerships with delivery platforms [6][7]. - Kuaishou's food delivery offerings primarily consist of group purchase vouchers from Meituan, indicating a reliance on established players for service fulfillment [9]. - Kuaishou's chairman emphasized that e-commerce is a vital growth engine for the company, although the growth rate of its e-commerce segment has been declining [12]. Group 3: Financial Performance - Kuaishou's stock has seen significant growth, with an increase of over 81% this year, leading to a market capitalization exceeding 320 billion HKD [10][17]. - The company's revenue growth has slowed, with a year-on-year increase of only 10.9% in Q1, compared to previous years [10]. - Kuaishou's e-commerce GMV growth has also decelerated, with figures from 2021 to 2024 showing a decline in growth rates from 78% to 17% [12]. Group 4: Future Directions - Kuaishou is exploring new avenues for growth, including the launch of a self-operated online lending service, indicating a strategic shift towards financial services [13][14]. - The company is also investing in AI, establishing a dedicated AI division to enhance its capabilities in video generation, which is seen as a potential second growth curve [16][17]. - Analysts have recognized the potential of Kuaishou's AI initiatives, with market estimates for the global video generation market reaching between 11 billion to 23 billion USD [17][18].

Core Viewpoint - Kuaishou has launched its own lending platform "Shengxin Jiejin," marking its entry into the financial services sector, which is increasingly becoming a standard for major internet companies [2][3]. Lending Products - Kuaishou's lending offerings include "Kuaishou Monthly Payment," which allows users to make purchases in Kuaishou stores and repay the following month with a maximum interest-free period of 37 days [2]. - The platform's lending model primarily involves connecting licensed financial institutions with users, utilizing API and H5 lending technologies [4]. - The maximum loan amount available through Kuaishou's lending services is 200,000 yuan, with annual interest rates ranging from 23.65% to 35.99% depending on the lending institution [4][6]. Market Position and Competition - Kuaishou's financial services are seen as lagging behind competitors like Douyin, which offers lower interest rates and more established lending products [5][6]. - The company has faced complaints regarding high interest rates and restrictions on early loan repayment, indicating potential challenges in customer satisfaction [6]. Regulatory Environment - New regulations effective from October 1, 2023, will impose stricter controls on internet lending practices, potentially impacting Kuaishou's high-interest lending model [7][8]. - Kuaishou has recently acquired three financial licenses, including for small loans and insurance brokerage, to enhance its financial service offerings [9][12]. User Base and Growth - Kuaishou has a substantial user base, with 408 million daily active users and 711.7 million monthly active users, but growth rates have slowed compared to previous years [14]. - The company's e-commerce gross merchandise volume (GMV) reached 332.3 billion yuan in Q1 2023, reflecting a 15.4% increase year-on-year, but this is lower than the previous year's growth rate [14]. Strategic Challenges - Kuaishou's late entry into the financial services market raises questions about its ability to compete against established players with stronger brand recognition and broader service offerings [15]. - The company faces challenges in building financial brand awareness and developing user habits related to financial products [15][16].