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Battle of billionaires: China’s food delivery market faces shake up as JD takes on Meituan

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Battle of billionaires: China’s food delivery market faces shake up as JD takes on Meituan - SCMP

Quick Summary:

The fight escalated this week as both companies accused each other of blocking delivery riders from accepting orders from rival platforms.

The stock plunge was “attributed to investor anxiety over their potentially increasing investments in the food delivery business, which is likely to negatively impact their margins”, said Chelsey Tam, senior equity analyst at Morningstar.A screen grab shows JD.com founder Richard Liu Qiangdong speaking to employees via a video.“Firing [off] at each other is inevitable” because JD and Meituan have overlapping businesses, but the spat “quickly enhanced the brand exposure” of JD, said Chen Liteng, an analyst at market consultancy 100ec.cn.

The war of words wiped US$13 billion off the combined market capitalisation of the companies.

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Article Details

Author / Journalist: Coco Feng

Category: Technology

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-27 @ 09:00:15 (19 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 224 words

Reading Time: 2 minutes read

Sentences: 5 lines

Sentence Length: 45 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 28222176

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About SCMP

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Main Topics: Technology

Official Website: scmp.com

Update Frequency: 2 posts per day

Year Established: 1903

Headquarters: Hong Kong

News Last Updated: 20 hours ago

Coverage Areas: Hong Kong

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #41

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The story "Battle of billionaires: China’s food delivery market faces shake up as JD takes on Meituan" was covered 19 hours ago by SCMP, a news publisher based in Hong Kong.

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