Meituan’s Heavy Losses Deepen as Subsidy Battle with Alibaba Escalates
美团与阿里巴巴补贴大战升级，亏损持续扩大
Meituan posted a sharp quarterly loss as its fierce subsidy battle with Alibaba’s instant-commerce arm squeezed margins and slowed growth. The firm reported revenue of 95.5 billion yuan for the September quarter, up only 2% and below expectations. It recorded an operating loss of 19.8 billion yuan, reversing last year’s 13.7 billion yuan profit, while net loss widened to 18.6 billion yuan. The downturn stemmed from an aggressive price war featuring heavily subsidised milk tea and lunchboxes aimed at attracting on-demand delivery users. Alibaba also saw pressure, with quarterly net income dropping 52% to 21 billion yuan. CEO Wang Xing said Meituan would keep strengthening its core capabilities, but the company warned that overheated competition means losses will likely continue into the fourth quarter.
美团因与阿里巴巴即时零售业务的激烈补贴大战而大幅亏损，利润空间被严重挤压，收入增长放缓。公司第三季度收入955亿元，同比增长仅2%，低于预期；经营亏损198亿元，而去年同期为盈利137亿元；净亏损扩大至186亿元。亏损主要源于以奶茶、便当等重补贴吸引用户的价格战。阿里同季度净利润也下降52%至210亿元。CEO王兴表示美团将继续强化核心能力，但公司警告行业竞争过热，亏损可能延续至第四季度。
