Apple Gain Hunter$MEITUAN(03690.HK)
From legal, market, and user habit perspectives, Meituan's fundamentals are intact. Its home delivery and supermarket businesses are excellent, with very promising prospects. Meituan, which recorded a huge loss last year, saw its core business loss related to its strong subsidies. The reason for the subsidies is the process to prevent customers from being snatched away by Taobao. This market is growing rapidly. Meituan's moat is still there. The subsidy war is unsustainable. Another 10-20% drop and it will enter the truly attractive range for value investment opportunities.
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