Since February, Meituan $MEITUAN-W (03690.HK)$Under the impact of a series of events, it ushered in the darkest two months since the launch. On February 18, the Ministry of Commerce called on takeaway platform companies to reduce fees for takeout merchants in areas with severe epidemics, causing market panic. Since then, Meituan has begun a rapid wave of sharp declines of up to 60%. During this period, people's congress deputies also saw popular searches calling for young people to go to the factory instead of delivering takeout, which once again pushed Meituan to the forefront. Since March, due to the spread of the epidemic across the country, Meituan Cash's dairy delivery business has been seriously affected, and fundamental concerns have accelerated another round of decline.
In the past year, Meituan's days couldn't be described as sad. Under anti-monopoly pressure, Meituan had quite the meaning of becoming a “street rat,” and everyone shouted. For young Meituan, this is both a pain and an experience. Having experienced huge anti-monopoly fines, they have also focused on rectifying the act of choosing one of the two, and have continuously responded to the country's call to actually implement fee reduction measures.
In the current context of multiple outbreaks of the epidemic, Meituan is still using its own actions to contribute its value to the normal operation of the city. This value is one of the foundations for maintaining the efficient operation of the entire city. Many cities have “slowed down” because of the epidemic, yet Meituan is still “in full swing”.
At this point, Meituan, which has fallen below the trillion dollar mark, is it still worth being optimistic about? Has the borderless expansion of local life supremacy come to a complete end...