Alibaba escalates China's delivery price war with 50 billion yuan subsidy program for consumers and merchants, intensifying rivalry with JD.com and Meituan.
Alibaba Group Holding is launching a 100-day campaign to boost orders and lure customers away from rivals Meituan and JD.com in China's instant delivery market.
US-listed Chinese stocks gained following US govt's decision to lift chip export restrictions to China. Includes Alibaba, PDD, JD, Baidu, NIO, Li Auto, XPeng, and Nvidia's new RTX PRO chip designed for Chinese market.
Alibaba matched its record of 80 million deliveries in one day, competing with Meituan and JD.com in China's quick-delivery market through giveaways and promotions. The price war has caused a $100 billion drop in Alibaba's market value, and it is expected to post a $5.7 billion loss in its food delivery operations.
Alibaba Group Holding (NYSE: BABA) reported a sharp rise in on-demand delivery transactions, with 80 million daily orders on Taobao Instant Commerce and Ele.me.
JD.COM (NASDAQ:JD) meets Peter Lynch’s GARP criteria with strong earnings growth, low valuation, and a healthy balance sheet, making it a candidate for long-term investors.
A Harvard scholar has suggested that the United States and China are on the verge of finalizing a trade deal, with the potential for an agreement as soon as next week.
Portfolio manager George Efstathopoulos is bullish on Chinese tech stocks, citing innovation surge and gov't support. Valuations and performance favor China over US.
What began as a one-day celebration marking JD.com’s June 18 founding, 618 has evolved into a month-long shopping festival, now embraced across all major e-commerce platforms.
