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Source: Caijing News
On Wednesday afternoon, Hong Kong's &#34;three major delivery giants&#34; collectively surged.
Meituan-W once rose nearly 16%, Alibaba-W once rose over 6%, and JD Group-SW once rose over 5%. The Hang Seng Internet ETF (513330.SH) followed with an increase of over 3%.
<img src="https://imageproxy.pbkrs.com/https://inews.gtimg.com/om_bt/OMm5IHcRfiOm08aGhq8iXLS0I_v9agIu_ebt_5zLs3ppwAA/641?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="Image" original-src="https://imageproxy.pbkrs.com/https://inews.gtimg.com/om_bt/OMm5IHcRfiOm08aGhq8iXLS0I_v9agIu_ebt_5zLs3ppwAA/641"/>
On the morning of the same day, the official website of the State Administration for Market Regulation reprinted an article from Economic Daily titled &#34;The Takeaway War Should End.&#34;
<img src="https://imageproxy.pbkrs.com/https://inews.gtimg.com/om_bt/OGH_lXvmCURvMuFVkrLaPpTCu_aeq7Y_EToA6R5DFEkAsAA/641?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="Image" original-src="https://imageproxy.pbkrs.com/https://inews.gtimg.com/om_bt/OGH_lXvmCURvMuFVkrLaPpTCu_aeq7Y_EToA6R5DFEkAsAA/641"/>
The article stated: &#34;The takeaway war affects not only the restaurant owners' accounts but also the livelihoods of ordinary people... Healthy competition should be a benign competition of technological innovation, efficiency improvement, and service optimization.&#34;
The reprint of this article was interpreted by industry insiders as a signal from regulators to counter &#34;involution-style competition,&#34; which may press the stop button on the nearly year-long takeaway subsidy war.
<img src="https://imageproxy.pbkrs.com/https://inews.gtimg.com/om_bt/OQfb7_GMgR_iWcTjKv4SeaisFCMZLxdyEu6dO0Fp2WZ7UAA/641?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="Image" original-src="https://imageproxy.pbkrs.com/https://inews.gtimg.com/om_bt/OQfb7_GMgR_iWcTjKv4SeaisFCMZLxdyEu6dO0Fp2WZ7UAA/641"/>
In addition, on March 23, three departments in Beijing jointly interviewed twelve platforms, including Trip.com, Meituan, and Douyin, to report the first batch of issues found in the comprehensive rectification of &#34;involution-style&#34; competition and proposed rectification requirements.
The Hang Seng Internet ETF (513330.SH) tracks the Hang Seng Internet Technology Industry Index and includes the aforementioned three delivery giants, which has led some investors to refer to it as the &#34;delivery&#34; index. Due to the profit erosion from the takeaway subsidy war, Meituan-W's stock price has continued to retract, with a maximum decline of 60%, currently approaching early 2024 levels.
This index covers a broader range compared to the Hong Kong Stock Connect Internet, including leading companies such as Baidu, NetEase, JD, and WanGuo Data that are not included in the Hong Kong Stock Connect. In recent years, as internet giants transition to AI, their technological value remains underestimated

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Hong Kong stocks "three giants of food delivery" Meituan, Alibaba, and JD collectively surged, rising nearly 16%, over 6%, and over 5% respectively. The State Administration for Market Regulation reprinted an article titled "The Takeaway War Should End," signaling a crackdown on "involution-style competition," which may terminate the food delivery subsidy war. The Hang Seng Internet ETF, which includes these companies, also rose over 3%. This index covers a broader range and reflects the technological value of internet giants transforming into AI

- The Hong Kong stock market saw significant gains among major delivery platforms on Wednesday, with Meituan-W rising nearly 16%.  
- Regulatory signals indicate a potential end to the ongoing subsidy war in food delivery, emphasizing the need for healthy competition focused on innovation and efficiency.  
- The Hang Seng Internet ETF, which tracks major tech firms, has been affected by these dynamics while investors note that leading companies in the sector still have undervalued technological potential.

腾讯新闻 - 财经

ChinaAMC Hang Seng Technology ETF(QDII)

KraneShares 2x Long JD Daily ETF

Dacheng Hang Seng Technology ETF(QDII)

Global X E-commerce ETF

KraneShares 2x Long BABA Daily ETF

CSOP HS TECH

ChinaAMC Hang Seng Internet Technology Industry ETF(QDII)

Tianhong Hang Seng TECH ETF(QDII)

JD HEALTH

Krne Csi China Internet

HSTECH ETF

JD LOGISTICS

Direxion CSI China Internet Index Bull 2X

E Fund CSI HK Connect Internet ETF

JD.com

Alibaba

JD-SW

Meituan

BABA-W

MEITUAN

Hong Kong stocks "three giants of food delivery" collectively surged! Regulatory authorities send a "anti-involution" signal