月度归档 2024年7月31日

Introduction:

QuestMobile data shows that as of January 2023, the domestic smart TV end point activity broke 300 million; by June 2023, the domestic TV Internet access rate reached 26.8%, an increase of 0.9 percentage points compared with December 2022; behind this, the continuous popularity of 4K ultra-high definition and super-large-screen smart TVs, as well as the continuous supply of TV dramas and variety shows, constitute a two-wheel drive, making "large screen" more and more a new growth point outside the small screen, occupying the leisure prime time from 18:00 to 21:00.

Specifically, in terms of geographical distribution, as of August 2023, Guangdong, Shandong, Henan, Guangxi, Jiangsu and other provinces of smart TV end point active accounted for 10.4%, 7.8%, 7.5%, 5.3%, 5%; end point brand active "top five" pattern is basically stable, millet, Hisense, Skyworth, TCL, Haier ranked in the top five, monthly active equipment were 51.61 million, 45.99 million, 43.78 million, 34.49 million, 25.46 million.

The resulting OTT industry chain is continuing to improve. The traditional TV station + online video platform has entered the smart TV end point based on the "license party", forming an OTT application to reach users. For example, Xiaomi’s end point, the MIUI TV version of Xiaomi’s smart TV based on the Android system, can interact with Xiaomi mobile phones and other smart devices, building an "active moat". In August 2023, Xiaomi’s mobile end (APP + Mini Program) deduplicate active user scale reached 7.20 billion.

In terms of OTT applications, as of August 2023, the average daily activity is 42.92 million, and the average daily activity in the past year is stable at more than 40 million units. Behind this, the increase in OTT application types has contributed greatly to the development of long videos, medium and long videos, short videos, music and games, video aggregation and other diversified forms.

However, from the perspective of user acceptance, the four leading video platforms rely on dramas and variety shows to still be the first echelon of "Blood Sea Fight", with Cloud Audiovisual Aurora (Tencent Video), Galaxy Kiwi (iQIYI), CIBN Cool Meow Film and Television (Youku Video), and Mango TV (Mango TV) active devices being 1.60 billion, 1.10 billion, 9.20 billion, and 900 million respectively.

Changes are also taking place, Bilibili, Douyin, Kuaishou and other medium and long and short videos are in the stage of rapid development, cloud audio-visual small TV (Bilibili), know-how fresh time (Douyin), cloud audio-visual fast TV (Kuaishou) active equipment volume 50.13 million, 35.90 million, 7.22 million… This also led to the continuous "quantitative change" of advertising and marketing…

How to play it? Let’s read the report.

First, the development status of smart TV end point: users return to the living room large screen, smart TV active volume of 900 million units, brand pattern is more scattered

1. The growth of mobile Internet user traffic has begun to slow down, and it is urgent to find new channels to seize users’ minds

2, thanks to the continuous iteration of products, more and more families in the form of 4K ultra-high definition, super large screen smart TV, and then promote the TV network penetration rate increased by 0.9 percentage points in the past six months; Internet users return to the living room, large screen usage scene worthy of attention

3. 18:00-21:00 is the prime time for users to relax at night, and it is also the prime time for large-screen usage scenarios at night. During this period, there is still a significant gap between users watching videos through mobile video APPs and pan-applications on the whole network, providing opportunities for large-screen smart TVs and OTT applications to seize the prime time

4. The continuous supply of ultra-high definition content such as TV dramas and variety shows stimulates users to update and iterate TV equipment; in August 2023, the number of TV end point devices actively used through intelligent networking reached 900 million units nationwide

According to QuestMobile data, the active volume of smart TV end points in January 2023 exceeded 300 million, mainly due to the home scene formed during the Spring Festival holiday, and the demand for smart TVs increased.

5. OTT market development ecology: traditional TV stations and online video platforms produce broadcast content, and the licensee links the content and end points, using OTT applications as the carrier to realize the reach of content to large-screen users

6, from the geographical distribution point of view, Guangdong smart TV end point active proportion is higher than other regions; different from other regions, Guangdong, Jiangsu, Hebei, Sichuan, Zhejiang and other places of mobile Internet users accounted for higher than the smart TV end point

7, the current smart TV stock market concentration is still relatively scattered, TOP3 brand share of less than 50%, Xiaomi TV with more than 5, 0 active devices in the first place, followed by traditional domestic brands Hisense and Skyworth TV

8. Xiaomi has built a huge traffic pool on the mobile end, which has the basic advantage of user interaction; the MIUI TV version of Xiaomi smart TV based on the Android system can realize the interaction between smart TV and other smart devices including Xiaomi mobile phone (MIUI operating system)

9. The number of active devices at the end point of Xiaomi TV has remained above 5 for a long time; in terms of TGI, users in Beijing and Shanghai have obvious preferences for Xiaomi TV

10, Hisense emphasizes the diversified brand matrix operation, and constantly seeks to increase the high-end market and overseas market. At the same time, Hisense further enhances the brand volume by sponsoring world-class football events such as the European Cup and the World Cup

11. In the past three months, the number of active equipment at the end point of Hisense TV has increased to a certain extent; as an enterprise founded in Shandong, Hisense TV has a first-mover advantage in Shandong

OTT app store analysis: long video applications occupy the main traffic; other types of applications still have room for improvement

1. The daily average activity of OTT applications remains stable at 4, and the scale of more than 0 units

2, the top video platform episodes and variety shows and other content continue to attract user attention, drama synthesis and other content continue to produce, to ensure the delivery of TV end point content, rich content and TV end point large screen advantages, become an important advantage to occupy the user’s mind

3. OTT application types are showing a diverse development trend, covering long videos, medium and long videos, short videos, music, games, and other aspects

4. On the TV side, platforms that can provide long-term video content such as film and television dramas and variety shows are more popular; Aiyou Tengmang and other leading long-term video platforms occupy the first echelon of the OTT application track, and medium-length and short video platforms represented by Bilibili, Douyin and Kuaishou begin to lay out large-screen platforms

5. The continued output of film and television, variety shows, and other content has driven the growth of leading video platforms in APP and OTT dual-terminal traffic; on the TV side, Tencent’s cloud audio-visual Aurora active devices have gradually exceeded iQIYI’s Galaxy Kiwi

6, OTT large screen can broaden the viewing scene of medium and long, short video, optimize the viewing experience; small screen for the large screen to provide new products and create new demand; compared to the mobile terminal hundreds of millions of users, medium and long, short video OTT application The number of active devices is generally 6, 0 or less, with greater room for improvement

III. OTT marketing market: The unique marketing attributes of large screens are increasingly popular with advertisers, mostly from foreign brands in the FMCG category

1. OTT application marketing has the characteristics of "one-to-many", "large-screen exposure" and "cross-screen communication"

2. The rapid growth of OTT and intelligent hardware advertising further increases advertising touchpoints, expands traffic ecological boundaries, and strengthens the diversification trend of intelligent application interaction scenarios

3. Compared with mobile Internet platforms, advertisers on OTT platforms are mostly brands from the FMCG industry. In addition, advertisers on OTT platforms are mostly foreign brands

4. Compared with the Internet APP medium, OTT advertising is divided into system-level advertising and content-level advertising, of which advertising forms are mostly concentrated in boot ads and video roll ads

5. Long video OTT has become a more popular platform for advertisers. Popular episodes on long video platforms can increase exposure for the platform on the one hand, and attract advertisers’ attention on the other hand

　　On the afternoon of October 18, the Sichuan Provincial delegation attending the 19th National Congress of the Communist Party of China held a plenary meeting to focus on the report made by the Supreme Leader General Secretary on behalf of the 18th Central Committee. "The report holds high the banner, the theme is clear, and the thought is profound." "The report is cohesive and inspiring. It is a good report that is people-oriented, full of pride, and inspiring." "The report summarizes the results and seeks truth from facts, studies and judges the situation objectively and accurately, and plans for the future."… The report caused heated discussions in the Sichuan Provincial delegation. In light of their own work realities, the delegates actively considered how to focus on goals and tasks, refine work measures, and implement the report of the 19th National Congress of the Communist Party of China according to local conditions.

　　keyword

　　Open to the outside world

　　The original sound of the report: Openness brings progress, but closure necessarily lags behind. China’s door to opening up will not be closed, but will only open wider and wider. We must focus on the construction of the "Belt and Road Initiative", adhere to the equal emphasis on bringing in and going out, follow the principle of extensive consultation, joint construction and sharing, strengthen the opening up and cooperation of innovation capabilities, and form an open pattern of linkage between land and sea, and mutual assistance between East and West.

　　Luo Qiang, representative of the 19th National Congress of the Communist Party of China:

　　Better build a national opening-up hub

　　At noon on October 18, Luo Qiang, a representative of the 19th National Congress of the Communist Party of China, deputy secretary of the Chengdu Municipal Party Committee, and mayor, walked out of the Great Hall of the People, unable to hide his excitement. "Don’t forget the original intention to compose a new chapter, and look forward to the grand plans." After listening to the report, he said he was inspired, excited, and confident.

　　In the report, Luo Qiang paid particular attention to one word: openness. In his opinion, the Party Central Committee with the supreme leader as the core actively promotes "grand diplomacy", and has never entered the center of the international stage with Chinese characteristics, Chinese style and Chinese style. "In particular, the construction of the’Belt and Road Initiative ‘has reshaped the global economic map, cultural geography and political pattern in the new century, and created new historical opportunities for the country’s economic and social development, including the development of the western region," Luo Qiang said.

　　The construction of the "Belt and Road Initiative", Sichuan is both a practitioner and a beneficiary, which is Luo Qiang’s intuitive feeling. Take the China-Europe Express (Rong-Europe Express) as an example, the express train from Chengdu goes directly to Nuremberg, Lodz, Moscow, Istanbul and other 20 cities along the "Belt and Road Initiative".

　　In recent years, the construction of "water, land and air" external channels in Sichuan has been accelerated. Only Chengdu Shuangliu International Airport has 102 international (regional) routes, and the annual passenger throughput reached 46 million passengers and cargo throughput exceeded 600,000 tons last year.

　　The "big channel" to connect the world has gradually taken shape, and the pace of building a "big platform" for two-way opening up in Sichuan has been accelerating. Tianfu New Area has been upgraded to a national-level new area, and has been successfully approved as a free trade pilot zone. 159 unique ** pilot tasks in investment, trade, financial innovation and other fields have been smoothly advanced. The construction of China-Germany, China-France, China-Italy and other country-specific cooperation parks has been accelerated. The "China-Europe Center" was officially launched in May this year… In the first half of this year, the province’s total import and export trade increased by as much as 5 ****. The total number of international sister cities and friendly cooperative relations in Sichuan has increased to 238

　　Luo Qiang said that the report clearly insists on opening the door to the country for construction, actively promotes the "Belt and Road Initiative" international cooperation; at the same time, optimize the layout of regional opening up, increase the opening up of the west, and grant greater reform autonomy to the free trade pilot area, which points out the way for us to accelerate the construction of a pan-European and pan-Asian gateway hub.

　　keyword

　　Agriculture rural farmers

　　The report’s original voice: The issue of agriculture and rural farmers is a fundamental issue related to the national economy and people’s livelihood, and we must always take solving the "three rural" issue as the top priority of the whole party’s work. We must adhere to the priority development of agriculture and rural areas, and in accordance with the general requirements of prosperous industries, ecological livability, civilized rural customs, effective governance, and prosperous life, establish and improve the system, mechanism, and policy system for integrated development of urban and rural areas, and accelerate the modernization of agriculture and rural areas.

　　Yao Qingying, representative of the 19th National Congress of the Communist Party of China:

　　Promoting rural revitalization has a "navigation map"

　　The five years since the 18th National Congress of the Communist Party of China have been an extraordinary five years in the development process of the party and the country. As a rural grassroots cadre, Yao Qingying, the representative of the 19th National Congress of the Communist Party of China and the party branch secretary of Lianghe Village, Xilai Town, Pujiang County, feels deeply. According to the "small group micro-living" standard, Lianghe Village has built a new residence for farmers in "Lianghe Yiyuan" and remodeled the "Lianghekou" scattered courtyard. Oil sands roads, tap water, natural gas, and optical networks are connected to every household. Villagers have built small villas and renovated them like houses in the city.

　　In addition to "visible" changes, there are also "invisible changes". By organizing villagers to independently formulate village rules and regulations, the problems such as burning straw, building indiscriminately, and the environment being dirty and messy that used to be solved by nine bulls and two tigers have now been easily solved. Through the promotion and education of the Chinese Dream, the "Farmers’ Night School" has been well run, and the villagers have been mobilized to bask in the family style and family rules, and the selection of "good children", "good neighbors", "good husband and wife", "good cadres" and "good party members" has made the whole village a happy and harmonious family.

　　The report proposes to implement the rural revitalization strategy. It is necessary to adhere to the priority development of agriculture and rural areas, and establish and improve the system, mechanism and policy system of integrated urban and rural development in accordance with the general requirements of prosperous industries, ecological livability, civilized rural style, effective governance and prosperous life, and accelerate the modernization of agriculture and rural areas.

　　"The report of the General Secretary of the Supreme Leader has allowed us to further clarify how we see, how to do, and how to do rural work. It is the’navigation map ‘for us to build a happy and beautiful new village." What to do next? Yao Qingying already has a plan:

　　Continue to do a good job in the normalization and institutionalization of "two learning and one doing" learning and education, and further strengthen the branch team and manage the party members. "To implement the rural revitalization strategy, grassroots party organizations must give full play to the role of fighting fortresses and lead the masses to work hard."

　　To plant more green organic fruits, soil improvement and efficient water-saving irrigation will be carried out on more than 4,800 mu of orchards in the village, efforts will be made to build modern orchards, and farmers will be encouraged to develop leisure tourism.

　　It is also necessary to vigorously develop rural e-commerce, build an "e-commerce talent station" in Murakami, attract professional e-commerce sales teams to settle in Lianghe Village, focus on marketing services, and build a 1,600-ton fruit centralized distribution center.

　　keyword

　　Poverty reduction

　　Report original sound: We must mobilize the whole party and the whole society, adhere to precision poverty alleviation, precision poverty reduction, adhere to the central overall responsibility of the province and the county to grasp the implementation of the working mechanism, strengthen the responsibility system of the party and government leaders to take overall responsibility, adhere to the pattern of large-scale poverty alleviation, pay attention to the combination of poverty alleviation with support and wisdom, in-depth implementation of poverty alleviation cooperation between the east and the west, focusing on the task of poverty reduction in deep poverty-stricken areas, to ensure that by 2020 under the current standards of our country under the rural poor population to achieve poverty reduction, poverty counties are all capped, to solve the regional overall poverty, to get rid of real poverty, real poverty reduction.

　　Wang Liangcheng, representative of the 19th National Congress of the Communist Party of China:

　　Only by building strong grassroots party organizations and poverty reduction can we have the backbone

　　"After listening to the report of the General Secretary of the Supreme Leader, I am deeply encouraged and very excited." Wang Liangcheng, a representative of the 19th National Congress of the Communist Party of China, deputy director of the Price Supervision and Inspection Bureau of Pingchang County, and first secretary of the Party Branch of Limin Village, Shuanglu Township, Pingchang County, was overjoyed. As a front-line cadre in poverty reduction, he has a deep understanding of the "decisive progress in the fight against poverty reduction" pointed out by the General Secretary of the Supreme Leader in the report.

　　"Poverty reduction is fast, and the villagers’ days are getting more and more prosperous; the party’s policies are good, and the old areas are full of motivation to catch up and surpass; the party is strictly managed and the party is governed, and the entrepreneurial atmosphere of cadres and officers is good." In 2014, Wang Liangcheng and nearly 200,000 party members in government organs across the country were selected to serve as the first secretary of the village. In the past three years, the provincial party committee has established "four major funds" for education for poverty alleviation, medical assistance for poverty alleviation, poverty alleviation and micro-credit insurance, and industrial support for poor villages, providing them with "sewing kits" for "embroidery" on the front line of poverty reduction; 22 incentive and care measures in 5 aspects have been issued to encourage them to take root in grassroots officers and start businesses. " The concern and love of the organization makes us deeply feel that only by taking the lead and leading the masses to work together can we be worthy of the organization and live up to our mission. "Wang Liangcheng said.

　　How to make the villagers’ pockets bulge is the question that Wang Liangcheng thinks the most. The lessons of previous failures in industrial development have made the villagers worried. Wang Liangcheng invited experts to the village to guide and work door-to-door. He called the successful migrant workers in the village one by one, and carried preferential policy brochures to Guangzhou, Chongqing and other places to persuade them to return to the village to start a business with sincerity. Today, the village has established five professional cooperatives, with 1,500 mu of land in circulation, covering 156 households. The villagers have achieved various incomes through land circulation, park work, and industrial development.

　　Wang Liangcheng said that combined with the experience and study report of the first secretary of the three years, he deeply realized that only by helping to build and strengthen grass-roots party organizations can poverty reduction be the backbone; only by helping to find the road to prosperity in the industry can poverty reduction be effective; only by integrating into the masses to help, poverty reduction can have cohesion.

　　keyword

　　Comprehensive and strict governance of the party

　　The original sound of the report: The courage to self-revolution and strictly manage the party is the most distinct character of our party. We must deeply understand the long-term and complexity of the party’s governance test, reform and opening up test, market economy test, and external environment test, and deeply understand the danger of spiritual slack, lack of ability, separation from the masses, and negative corruption. Adhere to the problem orientation, maintain strategic resolve, and promote comprehensive and strict party governance to in-depth development.

　　Song Chaohua, representative of the 19th National Congress of the Communist Party of China:

　　The great victory of comprehensively and strictly governing the party is inspiring

　　Song Chaohua, representative of the 19th National Congress of the Communist Party of China and secretary of the Nanchong Municipal Party Committee, believes that since the 18th National Congress of the Communist Party of China, the Party Central Committee with the Supreme Leader Comrade as the core has taken strong medicine to eliminate diseases, treat chaos, pay close attention to the construction of work style, forcefully punish corruption and corruption, highlight clear rules and regulations, and promote strict party governance to achieve an unprecedented great victory. The people are all rejoicing, applauding, and wholeheartedly supporting.

　　Song Chaohua said that in 2014, the central and provincial party committees thoroughly investigated and strictly punished the case of Nanchong soliciting votes and bribing elections. Over the past two years, Nanchong has thoroughly implemented the spirit of the series of important speeches by the General Secretary of the Supreme Leader. Under the strong leadership of the central and provincial party committees, it has deeply learned the lessons of the case, made every effort to purify the political ecology, resolutely eliminated the residual poison of bribery and election, and promoted the formation of a good political ecology in a relatively short period of time.

　　Song Chaohua said that practice has fully proved that the central and provincial party committees have thoroughly investigated and strictly dealt with the Nanchong vote-soliciting bribery case, which is very correct. This is a move by strong men to break their wrists, scrape their bones and treat drugs, and comprehensively strictly manage the party’s officials. Not only did it not affect the stability and development of Nanchong, but it also brought unprecedented positive incentives, positive energy and positive effects to Nanchong. At present, Nanchong’s economy and society are developing rapidly and healthily. GDP reached 165.10 billion yuan in 2016, an increase of 7.8%. In the first half of this year, GDP grew by 8.7% year-on-year, ranking fifth in the province in total. The growth rate is higher than that of the whole country, faster than the province, and better than expected

　　Song Chaohua said that in the next step, Nanchong will study and implement the spirit of the 19th National Congress of the Communist Party of China as a top political task, especially continue to maintain "comprehensive and strict governance of the party, purification of the political ecology is always on the way", resolutely win the "three protracted battles" of governing party officials, righteousness and discipline, and punishing corruption and corruption. Thoroughly eliminate the lingering poison of canvassing and bribery, and never let bribery and election resurface, never let problems happen again, and never let tragedies repeat themselves. (Reporters, Dong Shimei, Zhang Shoushuai, Li Xinyi, Zhang Lidong, Lin Ling)

　　

New Game Original

By Camellia

Editor: Lei Yunting

Yesterday, Meituan Dianping released the 2020 Quarter 1 performance report. The data shows that Meituan’s total revenue in the first quarter was 16.76 billion yuan, a simultaneous decrease of 12.6%. The operating loss was 1.72 billion yuan, an increase of 31.6% from the 1.30 billion in the same period in 2019, and the adjusted net loss was 216 million yuan, a year-on-year decrease of more than 40%.

Among them, the food and beverage takeaway business achieved revenue of 9.49 billion yuan, down 11.4% year-on-year; the revenue of the store, hotel and tourism business 3.09 billion, down 31.1% year-on-year; new business and other income 4.117 billion yuan, up 4.9% against the trend.

Although Meituan’s two strong businesses, catering takeaway and in-store, hotel business, have been hit hard by the epidemic, the sharp narrowing of net losses and the stories to be told in the future still make the market full of confidence in Meituan. After yesterday’s financial report was released, Meituan’s share price closed at HK $125.8, an increase of more than 6%.

Today, Meituan’s share price closed at HK $138.9, an increase of 10.41%, and the current total market value is about HK $804.706 billion.

Wuliangye has been listed for nearly 22 years, and its market value is 573.70 billion RMB, equivalent to 623.70 billion Hong Kong dollars; Meituan has been listed for less than two years, and its market value has exceeded Wuliangye (000858). The great charm of the new economy is evident.

1

"Campaign": Reduced commission, withdrawal price

The platform and merchants are originally a community of interests. During the epidemic, Meituan Takeaway launched the "Merchant Partner Commission Refund Program" to provide merchants with free rebates, subsidies and free traffic support to help them tide over difficult times. Hundreds of thousands of merchants across the country participated. In Wuhan, the amount of free commission has exceeded 30 million yuan.

In addition to alleviating the pressure on merchants in terms of free commission, Meituan has also upgraded the "Spring Breeze Action" to the Million Small Stores Program, by providing online operations and other measures to help merchants recover digitally. Newly launched merchants who originally relied mainly on dine-in and needed to develop online channels can enjoy Meituan’s 7-14 days of "new merchant support traffic."

Although the latest financial report shows that Meituan’s commission income in the first quarter was 8.564 billion yuan, and the commission rate was 11.98%, a decrease of 1.5% year-on-year, in the long run, these two measures have accumulated merchants for the Meituan platform. In addition to commissions, the marketing advertising expenses of merchants are also one of the profit channels for the platform, and merchants provide the possibility for Meituan to increase advertising revenue.

Another profit margin for Meituan comes from the cultivation of user consumption behavior.

"Operation Spring Breeze" has enabled many high-quality merchants to achieve a contrarian growth in orders during the epidemic, which has promoted the increase in the unit price of takeaway consumers. According to the financial report, Meituan’s first-quarter catering takeaway revenue decreased by 11.4% year-on-year, the average daily takeaway order volume fell by 18.2%, and the total order volume fell by 46% year-on-year. However, the average price of each order rose by 14.4% to 52 yuan, and the unit price of customers increased significantly.

In addition, since Meituan Distribution was officially established as an independent brand on May 6 last year, as of now, Meituan Distribution has covered 6.20 million multi-product merchants such as catering, fresh food, supermarkets, bookstores, flowers, etc. These categories have become vertical products ordered by users online, and users’ brand awareness of Meituan’s "everything can be home" is deepening.

2

Future: Food + Platform, Diversity

When Meituan listed in Hong Kong two years ago, Meituan’s co-founder Wang Huiwen repeatedly mentioned Meituan’s Food + Platform grand strategy in the face of the media, that is, starting from takeaway, horizontally covering multiple life service areas such as store delivery, home delivery, and travel.

The core of this strategy is to strengthen a single center of gravity, from the most high-frequency catering consumption to other low-frequency areas, to tap the traffic value of other areas, and to better conduct cross-selling.

Meituan’s current new businesses mainly include food and beverage management systems and B2B food and beverage supply chain services, shared bicycles and online car-hailing, and food retail services.

According to the financial report, in Quarter 1, 2020, Meituan Dianping’s revenue from new business and other divisions was 4.20 billion yuan, an increase of 4.9% year-on-year. This was mainly due to the increase in Meituan’s flash sale and micro-loan business revenue, which was partially offset by the decrease in ride-hailing and B2B catering supply chain service revenue (affected by the epidemic).

The growth of new business is conducive to the overall pull of Meituan.

Meituan’s important fresh food retail business – Meituan market and Meituan flash sale are a major highlight of the earnings report. During the earnings call, Meituan CEO Wang Xing mentioned for the first time that the grocery shopping business will be a very key business sector for Meituan. He said that with the increasing demand of consumers to buy food online, this sector will bring more opportunities and imagination to Meituan in the future, so he will continue to invest in this field.

New businesses including Meituan bicycles and online car-hailing lost 1.40 billion yuan in the first quarter, and the operating profit margin narrowed to -33%. However, the cost of shared bicycles decreased by nearly 1 billion yuan, and depreciation also decreased significantly. Meituan has achieved expenditure control on the bicycle business. These all provide imagination for Meituan’s future development, which is conducive to Meituan’s search for a more perfect growth curve.

3

Competing against each other: the new economy, the new battlefield

Wang Xing said Meituan has no boundaries. However, conducting multiple businesses also means facing multiple competitors.

Ele.me, Meituan’s main competitor, has significantly outpaced Meituan’s 28.3% growth in revenue performance with a 41% growth in the past 12 months (April 2019-March 2020).

Ele.me’s ability to widen the gap with Meituan in terms of growth rate is mainly due to Alibaba’s integration of resources. From the Double 11 promotion at the end of 2019 to the reduction of commission for catering merchants during the epidemic, and a large number of merchants coming to Ele.me to open stores, Alibaba has used the so-called "synergistic advantages of the digital ecological economy" to attract a large number of merchants to settle in Ele.me, and even non-takeaway merchants such as Marriott Hotel, Decathlon, major museums, and Xinhua Bookstore. This places new requirements on Meituan’s resource integration capabilities and technological upgrading.

As a giant in China’s express delivery industry, SF Express’s entry into the takeaway market has also brought challenges to Meituan. Recently, SF Express launched the "Fengshi" platform, focusing on food delivery services for the corporate employee market. At present, many well-known brands such as Xibei, Yoshinojia, Ajisen Ramen, and Dicos have settled in.

Although SF Express said that the "Fengshi" WeChat Mini Program is still in the incubation stage and is currently only implemented within SF Express, it does not mean to fight against Meituan and Ele.me. But "Fengshi", which focuses on low-draw points, may use the B-end business to develop the C-end, which cannot help Meituan, a colleague, feel anxious.

In March, Didi announced that it had launched errands in 21 cities, including Shanghai, Shenzhen, and Chongqing. Users could summon errands to buy goods they needed and enjoy door-to-door delivery services. The function of picking up and delivering goods in the same city would also be opened. At that time, Didi introduced that the first batch of Didi errands were served by Didi drivers, who rode electric vehicles to receive orders every day. Eligible drivers could provide errands as soon as possible after training.

Just today, Hello’s logistics business "Hello Express" has been launched for testing. Hello Travel said that Hello Express is an "errand running" project currently being explored by Hello Travel’s Pratt & Whitney Vehicle Division. It focuses on the delivery of small items and has not been officially launched. It is currently under test operation in Dongguan and Foshan.

****

Multiple rivals also mean that the market is vast. As of this afternoon, according to Forbes real-time data, Wang Xing’s personal wealth is 11 billion US dollars (about 77 billion yuan), making him the 20th richest person in China. "We believe that business growth in 2025 is to increase our daily orders to 50 million, and the current data is still a long way off, so we need to further invest in technology in the future." With the strong wind of emerging economies, Meituan is still running.

This article was first published on WeChat official account: New Game. The content of the article belongs to the author’s personal opinion and does not represent the position of Hexun.com. Investors operate accordingly, and please bear the risk.