Market Chatter: Alibaba Surpasses Meituan in China On-Demand Orders After Free Drink Push

MT Newswires Live08-13

Alibaba (HKG:9988) briefly overtook Meituan (HKG:3690) in daily order volumes last week after its Taobao Shangou platform offered 1 million cups of free milk tea a day, the South China Morning Post reported Tuesday, citing technology media outlet LatePost.

Orders topped 100 million on Thursday, trailing Meituan by 20 million, but overtook the rival after Meituan ended its promotion on Friday and Saturday, the report said.

China's antitrust regulators have taken notice of the surge in orders and moved to curb steep discounting.

In July, China's State Administration for Market Regulation called in Alibaba, Meituan, and JD.com (HKG:9618) to urge fairer competition.

The three companies reportedly agreed to a "ceasefire" on Aug. 1, but promotions have continued.

JD.com (HKG:9618), which did not offer free drinks last week, promoted drink discounts and low-priced fried chicken, the report added.

In recent trading in Hong Kong, shares of Alibaba rose 3%, JD.com climbed 2%, while Meituan edged up 1.5%.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0456846285.SGD","symbol_name":"JPMorgan Funds - Greater China A (acc) SGD","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2559675805","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2559675805","pubTimestamp":1755051541,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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