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BABA StockPro$MEITUAN(03690.HK)
Full-year results are out after the food delivery war. Let me briefly talk about what I see.
- Strategic direction: Going overseas + AI, "focusing on both"
- The food delivery war has come to a pause, time to tell a new story.
This move by Meituan is quite smart. The food delivery market has been fought to a standstill. Continuing the fight would mean no profit for anyone, and it's been called off anyway. Meituan turning to overseas expansion and AI is about finding new growth drivers.
Regarding overseas expansion, Meituan has some presence in Southeast Asia, but facing local giants like Grab and Gojek is tough. In terms of AI, Meituan has the scenarios and data, but its technical accumulation can't compare to the big tech firms. Starting late, it might be better not to start at all, like Duoduo.
To sum up, if the AI and overseas expansion stories hold water, there's room for valuation improvement. But I'm not that optimistic about Meituan.
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