$MEITUAN-W(03690)$ Meituan and

$MEITUAN-W(03690)$ Meituan and Pinduoduo are indeed powerful. They hold 110 billion and 140 billion yuan respectively, which is almost equal to their cash and short-term investments. Most of them belong to merchants. Their business model is to do business with other people's money. They were venture capital shareholders in the early stage.

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