On August 1st, MEITUAN-W and BABA-W experienced significant intraday rallies, with both stocks surging over 3% at one point. As of press time, MEITUAN-W had settled to a 2.22% gain, BABA-W rose 2.33%, and JD-SW climbed 1.38%.
The market movement was driven by coordinated announcements from three major food delivery platforms on August 1st, with Meituan, Taobao Flash Delivery/Ele.me, and JD.com all issuing statements calling for resistance against unfair competition practices.
Meituan released a statement titled "Prospering Industry Ecology, Resisting Unfair Competition," acknowledging that food delivery platform subsidies have attracted significant public attention. The company emphasized its commitment to standardizing promotional activities, eliminating unfair competitive practices, establishing fair and orderly industry standards, and promoting mutual benefits for all parties.
On the same day, Ele.me published "Continuously Improving Services, Promoting Healthy Competition, Stimulating Consumer Vitality," pledging to firmly resist vicious competition and avoid large-scale "0 yuan purchase" and other irrational promotional activities while promoting cooperative ecological development. The company committed to four key initiatives: First, reasonably planning subsidy distribution based on consumer and merchant needs. Second, firmly resisting vicious competition by proactively eliminating unfair competitive practices and avoiding large-scale "0 yuan purchase" promotions. Third, continuously improving service quality through diversified consumption scenarios and enhanced delivery network efficiency. Fourth, promoting cooperative ecological development through established feedback systems and ongoing merchant engagement meetings.
At midday on August 1st, JD.com issued "Fulfilling Corporate and Social Responsibilities to Build a Healthy Food Delivery Industry Ecosystem," noting that recent industry subsidies have drawn widespread social attention, with various industry associations and merchants calling for an end to "0 yuan purchase" and other destructive subsidy practices. JD.com committed to maintaining its anti-competitive stance, firmly eliminating unfair competition, and resisting "0 yuan purchase" and other harmful subsidies.
(Disclaimer: Article content and data are for reference only and do not constitute investment advice. Investors operate at their own risk.)