Core Viewpoint - The article discusses ongoing consumer complaints regarding delayed refunds from Meituan, highlighting issues with the refund process and customer service responses [3][5][9]. Group 1: Consumer Complaints - Multiple consumers reported difficulties in receiving refunds, with some stating that refunds from as far back as 2018 have only recently been processed [3][5]. - Consumers expressed frustration over refunds not being returned to the original payment method, but instead being credited to Meituan Wallet, which they perceive as a coercive tactic to encourage further use of Meituan services [3][9]. Group 2: Customer Service Responses - Meituan's customer service indicated that the refund timeline typically ranges from 1 to 3 business days, depending on the payment method used [3][7]. - The company acknowledged that cases of refunds taking years to process are "relatively rare," yet many consumers have shared experiences of prolonged delays [7][10]. Group 3: Historical Context - Complaints about Meituan's refund process date back several years, with users from 2015 to 2019 frequently voicing concerns about slow refunds [5][7]. - A lawyer suggested that consumers should keep detailed records of their refund requests and payment transactions to support their claims if issues arise [10].

Core Insights - JD Finance is leveraging the entry of JD Delivery to enhance its financial services, positioning itself against Meituan's offerings [1][2][3] Group 1: JD Finance's Business Overview - JD Finance's overall scale is projected to reach approximately 500 billion yuan by the end of 2024, with cash loan products (including "Jin Tiao" and "Jie Qian") accounting for over 300 billion yuan, consumer installment products (including "Bai Tiao" and "Fen Fen Ka") around 100 billion yuan, and corporate credit products also around 100 billion yuan [4] - The company has increased its C-end external flow business, which is expected to reach several hundred billion yuan, with a growth rate of over 24% in 2024 [5] - JD Finance is adopting a more conservative approach following regulatory changes, focusing on external B-end financial services for non-JD ecosystem enterprises, including accounts receivable financing, procurement financing, and leasing [5] Group 2: Strategic Developments - The establishment of "JD Consumer Finance Company" is imminent, with plans for the separation of consumer finance business from JD's main operations [6] - JD is set to become the controlling shareholder of Jiexin Consumer Finance, holding 65% of the shares, which may lead to the integration of Jiexin's financial results into JD Group's financial statements [6][9] - The company is expected to accelerate the disposal of non-performing loans, with an estimated 3 billion yuan in personal non-performing loans to be transferred at a starting price of 1-2% of their original value [9] Group 3: Implications for JD Technology - If the consumer finance business is spun off into the new Jiexin Consumer Finance Company, JD Technology's revenue may be impacted, potentially leading to a decrease in valuation [10] - The separation of consumer finance could allow JD Technology to pursue an IPO more effectively, similar to other JD subsidiaries, by reducing its financial liabilities [10][12]