On June 8, Meituan-W declined 3.31% in regular trading, trading at 76.9 HKD/share, with trading volume of 4.57 billion HKD.

Despite Q1 revenue of 91 billion yuan beating expectations with 5.6% YoY growth and operating losses narrowing sharply from 16.1 billion to 6.5 billion yuan quarter-over-quarter, market focus has shifted to structural competitive concerns. Multiple institutional estimates indicate Meituan's food delivery order market share has fallen from 65% to approximately 51%, while Taobao Flash Purchase has surged to 42%, prompting a fundamental reassessment of the company's moat thesis.

Analysts note Meituan's valuation framework is transitioning from a growth stock to a utility stock paradigm. Additionally, a 746-million-yuan regulatory fine and an unresolved antitrust investigation continue to dampen sentiment. The broader Internet and Direct Marketing Retail sector declined in tandem, with BABA-W down 3.27%, JD-SW down 2.76%, JD Health down 2.74%, Ali Health down 2.79%, and PA GoodDoctor down 2.4%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)