--- title: "The heart that just wanted to open a position in Meituan was instantly drenched." type: "Topics" locale: "en" url: "https://longbridge.com/en/topics/38670842.md" description: "Although I've never been optimistic about Meituan throughout the entire food delivery war, I couldn't help but be tempted when I saw Meituan fall below its 52-week low a few days ago, given my overly concentrated portfolio. I even considered setting up a small observation position. While the business model of food delivery can't compare to e-commerce, I feel it's a business I can understand within my circle of competence, and it's quite a decent one. However, just as I was tempted, two pieces of bad news came in quick succession over the past two days. One is that Douyin finally released its DouShengSheng App, but I don't think we need to worry too much about Douyin's independent group-buying app. In fact, the independent Douyin Mall app is also quite mediocre..." datetime: "2026-02-11T16:10:51.000Z" locales: - [en](https://longbridge.com/en/topics/38670842.md) - [zh-CN](https://longbridge.com/zh-CN/topics/38670842.md) - [zh-HK](https://longbridge.com/zh-HK/topics/38670842.md) author: "[林氪](https://longbridge.com/en/profiles/7312377.md)" --- # The heart that just wanted to open a position in Meituan was instantly drenched. Although I have never been optimistic about Meituan throughout the entire food delivery war. However, after my portfolio became too concentrated, I saw Meituan's stock price fall below its 52-week low a few days ago, and I was genuinely tempted to consider opening a small observation position. Although the business model of food delivery is not as good as e-commerce, I feel it's still within my circle of competence—a business I can understand, and a pretty decent one at that. However, just as I was getting tempted, two pieces of bad news came in quick succession over the past two days. One is that Douyin finally launched the Dou Shengsheng App, but I don't think we need to worry too much about Douyin's independent group-buying app. Because in fact, Douyin Mall's independent app is also mediocre, and group-buying currently relies more on the Douyin ecosystem. Going solo might not achieve much. The other, of course, is the news that Alibaba will continue to boldly pursue flash sales, aiming to be free from (loss-making) burdens within three years. Mr. Ma also stated: "Taobao Flash Sales is a battle of milestone significance for the group." From my perspective, I also think that over the past few years, Taobao has fought the flash sales battle brilliantly, essentially maximizing the value of Ele.me, "making the best use of everything," and letting it fade into history. Taobao's e-commerce is currently on a downward slope, making flash sales the undisputed "second curve." How could they not seize such a hard-won major opportunity? Based on this information, revisiting the idea of opening a position in Meituan immediately doused my enthusiasm. You shouldn't concentrate just for the sake of concentration, nor diversify just for the sake of diversification. At the beginning of 2024, the market was worried about Douyin entering the food delivery market, and Meituan's stock price fell to the 60s. Although it later proved to be a false alarm and the price quickly rebounded. Looking at Meituan's situation today, compared to two years ago, it's actually much more difficult. Being squeezed from both sides by Douyin and Taobao, with Tencent also exiting its investment, it's truly a fight with its back against the wall. Thinking about it this way, why bother wading into these troubled waters? Currently, I don't dare to increase my position size, and it would also consume mental energy. What's the real difference between just adding a small observation position and having it on my watchlist? Unless I can wait for an absurdly low price, then I'll consider it specifically. $MEITUAN(03690.HK) $BABA-W(09988.HK) ### Related Stocks - [03690.HK](https://longbridge.com/en/quote/03690.HK.md) - [83690.HK](https://longbridge.com/en/quote/83690.HK.md) - [MPNGY.US](https://longbridge.com/en/quote/MPNGY.US.md) - [09988.HK](https://longbridge.com/en/quote/09988.HK.md) - [89988.HK](https://longbridge.com/en/quote/89988.HK.md) - [BABA.US](https://longbridge.com/en/quote/BABA.US.md) - [00700.HK](https://longbridge.com/en/quote/00700.HK.md) - [BYTED.NA](https://longbridge.com/en/quote/BYTED.NA.md) - [TCTZF.US](https://longbridge.com/en/quote/TCTZF.US.md) - [80700.HK](https://longbridge.com/en/quote/80700.HK.md) - [TCEHY.US](https://longbridge.com/en/quote/TCEHY.US.md) - [KBAB.US](https://longbridge.com/en/quote/KBAB.US.md) - [BABO.US](https://longbridge.com/en/quote/BABO.US.md) - [BABX.US](https://longbridge.com/en/quote/BABX.US.md) - [HMTD.SG](https://longbridge.com/en/quote/HMTD.SG.md) - [HBBD.SG](https://longbridge.com/en/quote/HBBD.SG.md) - [HTCD.SG](https://longbridge.com/en/quote/HTCD.SG.md) ## Comments (16) - **丫桠 · 2026-02-17T07:36:48.000Z**: I'll use Qianwen for all takeout orders from now on. - **jim xie · 2026-02-12T00:02:00.000Z**: There have been fewer articles about Pinduoduo recently. What's your take on Pinduoduo? - **惟谦皆吉 · 2026-02-11T17:08:55.000Z**: Indeed, ByteDance is the biggest short seller of Hang Seng Tech🌚 - **飞天的猪** (2026-02-12T12:19:07.000Z): That's exactly right. Douyin has AI (), group buying (competing with Meituan and Alibaba), and e-commerce (competing with Alibaba and JD.com). - **Krisong · 2026-02-11T17:05:53.000Z**: Falling non-stop, almost out of funds to add. - **伽利略 · 2026-02-11T16:50:33.000Z**: Whether to buy or not doesn't depend on the price, but on the hope of maintaining market share. If that hope remains slim, the stock price will keep falling. - **奥马哈的信徒皮球 · 2026-02-11T16:38:07.000Z**: Where is this from？？？ - **Judy640 · 2026-02-11T16:23:18.000Z**: Googlegg - **天弢 · 2026-02-11T16:18:05.000Z · 👍 1**: What are you mumbling about? - **林氪** (2026-02-11T16:58:45.000Z): I feel sorry for you. - **天弢** (2026-02-11T18:12:23.000Z): I'm just going to BBBBB - **人送外号川渝美食家 · 2026-02-11T16:17:38.000Z**: Yes, and when it comes to in-store services, although I'm also not optimistic about Douyin's standalone app, Douyin's encroachment on Meituan is also a long-term issue. I think this is even more troublesome than flash sales. - **投资亦是修心** (2026-02-12T00:38:45.000Z): Don't underestimate Douyin's user base. In terms of offline group buying, Douyin offers greater discounts. In the long run, Meituan is bound to lose customers. - **Bob am I** (2026-02-12T06:06:23.000Z): Moreover, Douyin's short video feature can greatly supplement the area of store exploration. - **投资亦是修心** (2026-02-12T06:10:15.000Z): Yeah, with Meituan you still have to check the reviews to see if the food is good, but with Douyin you can just watch the store exploration videos to know about the food and environment. - **madwel · 2026-02-11T16:13:24.000Z**: Not buying was the right call.