$MEITUAN(03690.HK)

Wang Xing of Meituan might be a bit nervous this time. As its rival Alibaba successfully invested in Changxin Technology, it made a whopping 80 billion yuan on paper. Alibaba's coffers are now bulging, and it can once again deploy sufficient funds and energy to fiercely compete with Meituan in the food delivery business. After all, Alibaba currently has two major goals: one is AI, and the other is food delivery.

Alibaba's goal is to capture over 45% of the food delivery market share and even become the absolute industry leader.

This is no small challenge for Meituan, as Meituan relies on food delivery for profits,

while Alibaba is a giant with vast resources and has just made another 80 billion yuan, making it extremely wealthy.

Reposted from "Empty Daoist"