On June 24, Meituan-W declined 3.02% in regular trading, trading at HK$67.7/share, with turnover of HK$2.825 billion. The stock extended its recent downward trend as multiple negative developments weighed on sentiment.

On the news front, a self-identified Meituan grassroots product employee published a lengthy post titled \"Inside the Group\" on social media, detailing the company's organizational challenges. The post argued that Meituan's core problem is not a lack of execution but rather a path dependency formed from excessive execution strength. The employee criticized the company's data utilization as primitive despite possessing over a decade of local life service transaction data, likening operations to a \"manual workshop\" rather than a technology company. The post also questioned the company's AI strategy, suggesting it remains at the \"wishing pool\" stage.

This internal critique compounds ongoing reputational pressure from reports that Meituan allegedly conducted paid solicitation of negative materials about competitors. Multiple Beijing-area restaurant operators confirmed receiving rewards of RMB 2,000 to 5,000 for providing negative cases about rival platforms. Taobao Flash Sale responded with strong condemnation, calling the behavior a distortion of normal market competition that crosses legal boundaries.

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