Meituan - TechWire

Meituan

2025.08.30

21:01

Meituan and JD.com compete for "offline discount stores", Liu Qiangdong shows up to "support"

The online food delivery war may be transforming into an offline discount war. On August 30th, JD.com opened four discount supermarkets in Suqian, the hometown of company founder Liu Qiangdong. JD.com stated that the discount supermarkets are backed by JD.com's supply chain system, with many specialty products sourced directly from the source, eliminating middleman markups. The previous day, on August 29th, Liu Qiangdong also appeared in Suqian to promote the discount supermarkets. Besides JD.com, Meituan and Hema have also made recent moves. On August 29th, Meituan's self-operated Happy Monkey Head supermarket opened in Hangzhou. While not directly identifying itself as a discount store, it also boasted "high-quality products at affordable prices." On the same day, Hema NB announced its name change to "Super Box NB." Since launching the food delivery war in April, the three internet platforms have now simultaneously updated their efforts in the offline discount retail market.

17:14

Holiday spending fuels the boom in instant retail, with Meituan's non-catering instant retail orders exceeding 27 million on Qixi Festival.

On August 29th, Chinese Valentine's Day, Meituan's non-restaurant instant retail orders reached a new high of 27 million. Driven by the "Give Everything" flash sale, Meituan's overall gift spending reached a new high. Flower sales peaked, while sales of categories like digital computers, beauty products, and jewelry doubled. Consumers' per capita spending on 3C appliances, cosmetics, and skincare products increased significantly compared to last year's Chinese Valentine's Day. On Chinese Valentine's Day, sales of various digital products and small appliances on the platform increased exponentially: electric shavers and children's smartwatches saw sales increase by over sixfold year-on-year; cervical massagers saw sales increase by over three times; and Polaroid cameras doubled. Gold jewelry sales increased by over sixfold year-on-year, while pearl jewelry saw a four-fold increase. Sales of cosmetics and skincare products, such as lotions and perfumes, increased by over two times. Sales of sports equipment, such as running shoes and sports T-shirts, saw a five-fold increase. Premium flowers, such as Disney co-branded IP bouquets and cultural and museum-themed new Chinese-style bouquets, became the mainstream gift choice for consumers, driving Meituan's flower sales to a new high. This year's Qixi Festival saw a trend toward more diversified and high-quality gifting, expanding from flowers to a full range of product categories. This drove significant sales growth in high-priced categories such as digital computers, beauty and skincare, and jewelry, leading to a surge in both order volume and average order value. As Qixi Festival gifting evolved from flowers and chocolates to flash sales of everything, instant retail became a key driver of business growth for major brands and retailers. On Qixi Festival, over 500 brands and retailers across beauty, consumer goods, fast-moving consumer goods, department stores, and alcohol saw sales multiply year-over-year on the platform, including Huawei, Sephora, Watsons, All Cotton Time, and Waima Wine Delivery.

2025.08.29

17:16

BlackRock's long position in Meituan-W has dropped to 5.99%.

According to the Hong Kong Stock Exchange, BlackRock's long position in Meituan-W fell from 6.23% to 5.99% on August 25, 2025.

11:58

Morningstar: Lowered the fair value estimate of Meituan (03690.HK) from HK$164 to HK$151.

10:53

China Galaxy Securities International: Lowered the target price of Meituan (03690.HK) from HK$161 to HK$123.

2025.08.26

08:39

Zelensky: Ukrainian and US teams will hold talks this weekend

Ukrainian President Volodymyr Zelensky said on the 25th that Ukrainian and US teams will hold talks this weekend to discuss the possibility of peace talks between Ukraine and Russia. The Russian Foreign Ministry also called on all parties to build on the previous meeting between Russian and US leaders in Alaska.

2025.08.25

23:31

Zelensky: Ukrainian and US teams will hold talks to discuss the possibility of peace talks with Russia

On August 25th, local time, Ukrainian President Volodymyr Zelenskyy met with visiting Norwegian Prime Minister Johann Støre. At a joint press conference following the meeting, Zelenskyy announced that he would meet with visiting U.S. Special Envoy for Ukraine, Nikita Kellogg, and that Ukraine would hold talks with the U.S. delegation this weekend to discuss the possibility of peace talks between Ukraine and Russia. Zelenskyy stated that the Ukrainian delegation is in close contact with the United States and other parties. After all parties reach a basic framework for security guarantees for Ukraine, Ukraine will inquire with the U.S. about Russia's readiness for a meeting. He also stated that Norway has joined a program to purchase weapons from the United States, and Ukraine hopes to receive at least $1 billion in support per month from the program. Støre stated at the press conference that Norway and Germany have provided Ukraine with two Patriot air defense systems and associated missiles to help it defend against drone and missile attacks. He will also propose to the Norwegian Parliament $8.5 billion in aid to Ukraine next year.

17:32

Southbound funds saw a net sell-off of 1.376 billion yuan today. Within the Shanghai-Hong Kong Stock Connect, Tracker Asset Management and Xiaomi Group-W saw net sales of HK$2.352 billion and HK$887 million, respectively. Tencent Holdings led the way with net purchases of HK$333 million. Within the Shenzhen-Hong Kong Stock Connect, Xiaomi Group-W and Meituan-W saw net sales of HK$637 million and HK$163 million, respectively. Alibaba-W led the way with net purchases of HK$623 million.

10:33

Hong Kong tech and internet stocks continued to strengthen, with Beike (02423.HK) rising more than 8%, Baidu (09888.HK) and Alibaba (09988.HK) rising more than 5%, NetEase (09999.HK), Kuaishou (01024.HK) and JD.com (09618.HK) all rising more than 4%, and Alibaba Health (00241.HK), Tencent Holdings (00700.HK) and Meituan (03690.HK) all rising nearly 3%.

07:14

This week's key events and data preview: US PCE, India's tariffs take effect, Alibaba, Nvidia, and other earnings reports

1. Monday: ① Data: Germany's August IFO Business Climate Index; US July New Home Sales Annualized, August Dallas Fed Business Activity Index. ② Event: London Stock Exchange closed for the summer bank holiday. ③ Financial reports: Haidilao and Pinduoduo. ④ The People's Bank of China conducts 600 billion yuan in MLF operations. 2. Tuesday: ① Data: US July durable goods orders monthly rate, June FHFA house price index monthly rate, S&P/CS 20-city house price index annual rate, August Conference Board consumer confidence index, Richmond Fed manufacturing index. ② Events: A new round of domestic refined oil price adjustments will begin; 300 billion yuan in one-year MLF and 580.3 billion yuan in 7-day reverse repos will mature; Dallas Fed President Logan and New York Fed President Williams delivered speeches at the Banco de Mexico's 100th anniversary conference; the Reserve Bank of Australia releases its meeting minutes. ③ Financial reports: Ping An Insurance, Nongfu Spring, PetroChina, China Resources Land, Fosun Pharma, and Beike. 3. Wednesday: ① Data: Australia's July weighted CPI annualized rate; Germany's September GfK consumer confidence index; Switzerland's August ZEW investor confidence index; UK's August CBI retail sales difference; US API and EIA weekly crude oil inventory reports. ② Event: India's National Stock Exchange closed for one day for Ganesha festival. ③ Financial reports: China Life, Meituan, China Life Insurance Group, CNOOC, Fosun International, Anta Sports, Nvidia. 4. Thursday: ① Data: Eurozone August industrial and economic sentiment index; Canada's second-quarter current account; US initial jobless claims, revised second-quarter real GDP annualized rate, July existing home sales index monthly rate, EIA natural gas inventories. ② Event: Federal Reserve Chairman Barkin's speech; ECB's July meeting minutes. ③ Financial reports: ZTE, China Southern Airlines, COSCO Shipping Holdings, Li Auto. ④ The US's additional 25% tariff on India takes effect, bringing the total tariff to 50%. 5. Friday: ① Data: Japan's July unemployment rate; preliminary monthly CPI figures for France and Germany for August, final annualized GDP figures for France's second quarter; Switzerland's August KOF leading economic indicator; Germany's August seasonally adjusted unemployment report; Canada's June GDP; US July core PCE price index monthly and annualized rates, July personal spending monthly rate, August Chicago PMI, final August University of Michigan consumer confidence index, final August one-year inflation forecasts. ② Event: Federal Reserve Board Governor Waller's speech on monetary policy. ③ Financial reports: Alibaba, BYD, Country Garden, CICC, ICBC, Bank of China, Bank of Communications, Agricultural Bank of China, China Construction Bank, China Merchants Bank, and GAC Group. ④ The US ends tariff reductions on low-value imports. 6. Saturday: ① Data: US oil rig count for the week ending August 29. 7. Sunday: ① Data: China's official manufacturing PMI for August. ② Event: The Shanghai Cooperation Organization Tianjin Summit.

2025.08.22

17:33

Southbound funds saw a significant net inflow of 5.166 billion yuan today. Within the Shanghai-Hong Kong Stock Connect, Meituan-W and Tencent Holdings saw net inflows of HK$613 million and HK$545 million, respectively. Xiaomi Group-W led the way in net sales, with HK$751 million. Within the Shenzhen-Hong Kong Stock Connect, SMIC and Kuaishou-W saw net inflows of HK$879 million and HK$648 million, respectively. Xpeng Motors-W led the way in net sales, with HK$848 million.

2025.08.21

17:40

Southbound funds saw a net inflow of over HK$7.4 billion today, with Tencent leading the net buying.

Southbound funds saw net purchases of approximately HK$7.461 billion today. Tencent Holdings and Meituan-W saw net purchases of approximately HK$1.871 billion and HK$1.391 billion, respectively, while Tracker Fund of Hong Kong saw net sales of HK$825 million.

17:33

Southbound funds saw a significant net inflow of 7.461 billion yuan today. On the Shanghai-Hong Kong Stock Connect, Tencent Holdings and Xiaomi Group-W saw net inflows of HK$1.618 billion and HK$828 million, respectively. SMIC led the way in net sales, with HK$330 million. On the Shenzhen-Hong Kong Stock Connect, Meituan-W and Xiaomi Group-W saw net inflows of HK$602 million and HK$446 million, respectively. Tracker Fund of Asset Management led the way in net sales, with HK$825 million.

2025.08.08

07:32

With the help of various parties, the night economy has gone from "hot in summer" to "booming all year round".

In July, Meituan Travel saw a month-over-month increase of approximately 100% in searches and reviews related to "night tours." Many tourist attractions extended their evening hours and incorporated robots into nighttime performances. The night economy has become a key focus for boosting summer consumption in many regions, providing a path for listed companies to innovate their products and services. Experts believe that developing the night economy is an effective path to promoting the deep integration of commerce, travel, culture, sports, and health. Currently, various parties are working together to increase the supply of high-quality nighttime products, expand the scope of the night economy, and enhance urban public services, aiming to extend the night economy from a "summer boom" to a year-round boom.

2025.08.06

20:32

Meituan Waimai responds to the recall of Bawang Chaji redemption vouchers: they can be redeemed at takeout stores nationwide before August 10th

Meituan Waimai responded to the "recall" of Bawang Cha tea exchange coupons: they can be exchanged at takeaway stores nationwide before August 10. Tonight, the topic "Meituan Bawang Cha Ji" became a hot search on Weibo because a large number of netizens said that the Bawang Cha Ji "Bo Ya Jue Xian" exchange coupons they received through Meituan's "God-selling" event were forcibly taken back by the system in a short period of time. In response to this, Meituan Waimai responded on its official Weibo, "Originally, we and Bawang Cha Ji were preparing the first cup of good tea in autumn for everyone. When we asked the lovely riders to drink it first today, our hands shook and we sent it to everyone in advance. Since it was sent in advance, let's drink it first. From now on, all friends who have received Bawang Cha Ji tea coupons can redeem the corresponding tea at takeaway stores nationwide before August 10."

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