Latest news with #instantcommerce
South China Morning Post
26-05-2025
- Business
- South China Morning Post
Meituan's first-quarter revenue jumps 18% amid increased competition
Chinese on-demand delivery giant Meituan posted an 18.1 per cent year-on-year surge in revenue for the first quarter, as it seeks to maintain its dominant position on the mainland in the food delivery market amid new competition. Advertisement Meituan's revenue for the three months through March was 86.6 billion yuan (US$12 billion). Net profit reached 10.1 billion yuan, up 87.3 per cent year on year. The Beijing-based firm said in a statement that its instant commerce business 'Instashopping maintained robust growth trajectory, winning increasing consumer recognition and showcasing the immense potential of on-demand retail'. Meituan's results came in above expectations of 85.44 billion yuan in revenue and 8.63 billion yuan in profit, according to analysts polled by Bloomberg, offering a positive start to 2025 as it faces heated competition in the so-called instant commerce market, which in addition to food makes a slew of everyday consumer items available for delivery by courier, often within an hour. Chinese e-commerce giant moved into food delivery in February, after already offering instant delivery of other items. Rival Alibaba Group Holding , owner of the Post, has also doubled down on its instant commerce business, leveraging its food delivery riders and Taobao shopping app. Advertisement Both companies have initiated aggressive campaigns through the use of subsidies and other promotions to grab a slice of the market that has long been dominated by Meituan.
Reuters
26-05-2025
- Business
- Reuters
Alibaba's new 'instant commerce' portal passes 40 million daily orders
SHANGHAI, May 26 (Reuters) - Chinese e-commerce giant Alibaba said Monday that its Taobao Instant Commerce portal, which delivers items within 60 minutes, has surpassed 40 million daily orders within a month of launching. The portal brings merchants from Alibaba's food delivery arm onto its main domestic shopping app, Taobao, and is part of a broader move among Chinese online platforms in recent months to invest billions in so-called "instant retail".
Forbes
16-05-2025
- Automotive
- Forbes
China Market Update: Markets Lower Ahead Of Economic Release, NetEase Gains On Strong Earnings, Week In Review
CLN KraneShares Asian equities were mixed but mostly lower overnight as Indonesia and Australia outperformed while Vietnam and Mainland China underperformed. Stock Connect volumes were light overnight and for the week. Mainland investors were net sellers of $1.1 billion worth of Hong Kong-listed stocks and ETFs, taking profits from strong moves on the 90-day tariff reduction and a potential US-China comprehensive deal. China's State Administration for Market Regulation (SAMR) stated overnight that it will make efforts to curb 'rat race competition' among domestic companies. It was referring to solar and E-Commerce companies. Alibaba, Meituan, and JD have all begun to fiercely compete for instant commerce wallet share. Instant commerce refers to food delivery or the delivery of general goods in 30 to 50 minutes. These companies are using massive consumer subsidies to drive adoption along with technology, as Meituan has rolled out drone delivery in multiple cities. The SAMR statement could cause some of them to tap the brakes, though the lower prices ultimately benefit the consumer, so intervention here is likely to be light. The instant commerce race has also caused geographic expansion into faster-growing markets in Western and rural China. Some reports are saying that E-Commerce grew +30% in Western China in 2024. Related to the instant commerce race, express delivery company ZTO will become part of the Hang Seng Index in Hong Kong. NetEase continued substantial gains from yesterday on its stellar Q4 earnings. The electric vehicle (EV) ecosystem was mostly higher overnight. CATL has released a battery that can reach a full charge in about 5 minutes. The fast charge should drive EV adoption, and it is far from what is available here in the US. Alibaba fell less in Hong Kong overnight than its US shares yesterday on a challenging earnings release. Alibaba may not have benefited as much as its peers, especially from trade-in subsidies. Although Alibaba continues to reward its shareholders, buying back $11.9 billion worth of shares in the past year, directing capital toward shareholders and away from investments in technology for growth may have dented its top-line growth. Nonetheless, cloud growth accelerated significantly to 18%, driven by strong adoption of AI models, especially Alibaba's industry-leading Q-wen. Alibaba may, in future quarters, devote more capital to R&D and investment in growth than in previous quarters, which should benefit its earnings overall. We had some subscribers write in about our report on Alibaba's earnings from yesterday, in which we highlighted growth in key segments despite the thorough earnings miss. We did not mean to write off the miss, only to say that the company's focus on shareholder returns and AI was not fully appreciated. Also weighing on Alibaba was Ant Group's profit decline of -31%. The decline was driven by the fintech's investments in AI and other initiatives. KE Holdings' Q1 revenue was RMB 23.3B ($3.2B) versus expectations of RMB 22.5B ($3.1B) for Q1. Yesterday, we quoted the annual figure. Mea culpa! Please click here to view the revised post. fell -1.5% before its earnings release on Monday. Meanwhile, China retail sales, industrial production, and real estate sales are expected to be released this weekend. Bond yields continued to fall on China's rate cuts and US economic data pointing to rate cuts later this year from the US Fed. The humanoid robot ecosystem was higher overnight on Elon Musk's comments that there could be tens of billions of the robots in the future. New Content Read our latest article: New Drivers For China Healthcare: AI Med-Tech Innovation, Cancer Treatment, & Favorable Balance of Trade Please click here to read Chart1 KraneShares Chart2 KraneShares Chart3 KraneShares Chart4 KraneShares Chart5 KraneShares CNY per USD 7.21 versus 7.21 yesterday CNY per EUR 8.07 versus 8.06 yesterday Yield on 10-Year Government Bond 1.68% versus 1.68% yesterday Yield on 10-Year China Development Bank Bond 1.72% versus 1.71% yesterday Copper Price -0.32% Steel Price -1.15%
