Heightened Competition in China's On-Demand Delivery Segment Raises Risk of Lingering Price War, S&P Says

-- Continued elevated competition between major companies in China's on-demand delivery market raises the risk of a persistent price war amid a delay in subsidy reductions until 2028, S&P Global Ratings said in a recent release.

These create adverse conditions for all players, S&P said.

Major platform operators Meituan (HKG:3690), JD.com (HKG:9618), and Alibaba Group Holding (HKG:9988) have allocated significant spending to seize a share of the on-demand delivery markets, such as food and online retail, S&P senior analyst Jay Lau said.

These fast-paced segments account for more than 6% of China's retail sector, S&P said.

The negative impact of the price war will be greater than expected, continuing the negative trend on major players' EBITDA since 2025, Lau said.

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$ESLT

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瑞银将麦克森的目标股价从1012美元下调至1000美元，维持“买入”评级。

埃尔比特系统公司获得以色列国防部2亿美元合同

加拿大丰业银行将Diamondback Energy的目标股价从175美元上调至195美元，维持“跑赢大盘”评级。