0858 GMT - JD.com's ability to gain meaningful food-delivery market share from Meituan and Alibaba's Ele.me is in doubt, DBS says in a research note. The Chinese e-commerce company officially launched its food-delivery service on Tuesday after months of small-scale operations, and restaurants that register with JD Takeaway before May 1 will be exempt from commissions for the year. By contrast, Meituan charges merchants a 7% fee. However, DBS thinks "the strong customer moat of the leading players" would make it difficult for JD to gain market share despite its low take rate and some logistics synergies between its instant-delivery and food-delivery businesses. This new business could only have an around 5% impact on the company's earnings during this testing phase in 2025, DBS adds. JD.com shares ended at HK$156.10. (sherry.qin@wsj.com)
(END) Dow Jones Newswires
February 12, 2025 03:58 ET (08:58 GMT)
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