On February 13, Meituan’s market value fell below HK$500 billion, with a share price of HK$81.20, and a total market value of HK$496.293 billion. According to the news, Alibaba’s core management encouraged the team to continue boldly doing Taobao flash sales at an internal meeting earlier this year, saying that there should be no burden of losses within three years. Taobao’s investment in flash sales in 2026 will exceed that of the previous year, and it will strive to surpass Meituan in market share in 2026.
At present, the initiative in market competition in the field of life services is not in the hands of Meituan, but largely depends on Alibaba. Alibaba has just released news that it will continue to increase its investment in life services regardless of profit in the next three years. This has caused competitive pressure on Meituan to a certain extent.
Secondly, the current business model in the field of life services is no longer sexy and belongs to an area with limited imagination. If Meituan Overseas can open up space, it may be helpful to the market value.
Third, Meituan currently has limited deployment in the AI field. The large-scale model My Neighbor Totoro and the life service assistant Xiaomei have yet to see the commercial imagination for the next stage of AI, which also limits the recovery of Meituan’s market value.