MEITUAN fell more than 6.5% in early trading, with Alibaba and JD.com following suit.<img src="https://pub.pbkrs.com/cms/2025/0/kh6PSasjFAhdsaRPQvbBYCN3aiw1Y6Qs.jpg?x-oss-process=style/lg" alt="" original-src="https://pub.pbkrs.com/cms/2025/0/kh6PSasjFAhdsaRPQvbBYCN3aiw1Y6Qs.jpg"/>The main reason for MEITUAN's sharp decline is the announcement made yesterday regarding the payment of social insurance for delivery riders, which is expected to increase MEITUAN's expenses.<img src="https://pub.pbkrs.com/cms/2025/0/9Aet32eTPZnQLNmzKuaYqbaHHmYL9Kgr.jpg?x-oss-process=style/lg" alt="" original-src="https://pub.pbkrs.com/cms/2025/0/9Aet32eTPZnQLNmzKuaYqbaHHmYL9Kgr.jpg"/>What about MEITUAN's expenses?There are approximately 819,500 riders who meet the &#34;full-time&#34; criteria.In September 2024, the MEITUAN Research Institute released a report on rider income. The report indicated that among the 7.45 million riders with order income, 11% of them, or about 819,500, had more than 260 days of order-taking throughout the year.The current number of riders meeting the &#34;stable part-time&#34; criteria is unpredictable.The number of MEITUAN riders eligible for social insurance may exceed one million.Based on a simple calculation that MEITUAN pays 10,000 yuan in social insurance per rider annually, MEITUAN may incur additional expenses of over 10 billion yuan in a year, which is a significant amount for MEITUAN.In other Hong Kong stock news, the Hong Kong stock market retreated today, with the Hang Seng Index falling over 2% and the Hang Seng TECH Index dropping over 3%, as technology stocks fell across the board. Hua Hong Semiconductor, Kuaishou, and MEITUAN led the decline.

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Technology stocks fell across the board: the Hang Seng TECH Index dropped over 3%, with Hua Hong Semiconductor, Kuaishou, MEITUAN, and others leading the decline

- Meituan's stock fell over 6.5% in early trading, with Alibaba and JD.com also experiencing declines.  
- The primary reason for Meituan's drop is the announcement of social security contributions for its delivery riders, which is expected to significantly increase expenses.  
- With over 1 million riders eligible for social security, Meituan's annual costs could exceed 10 billion yuan, impacting its financial outlook amid a broader decline in Hong Kong stocks.

MEITUAN plummets 6%, the number of riders paying social insurance may exceed one million