Meituan Class B

03690: XHKG (HKG)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	QmK	LOCK\|XK%>	LOCK\|?^P$YZ

Meituan: Alibaba Will Prioritize Investments in AI Over Quick Commerce; Meituan Undervalued

Chelsey Tam

May 15, 2026

We updated our Meituan view after Alibaba registered CNY 17.3 billion free cash outflow and a $4.5 billion sequential reduction in net cash in the March quarter mainly due to AI investments. The firm also announced its target to achieve positive quick commerce, or QC, unit economics by March 2027.

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Meituan Class B

Meituan: Alibaba Will Prioritize Investments in AI Over Quick Commerce; Meituan Undervalued

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