JD.com's stock (09618.HK) experienced a significant downturn in Tuesday's pre-market trading, plummeting 5.24% as investors reacted to news of potential challenges in the company's newly launched food delivery business. The sharp decline comes as JD.com faces alleged anti-competitive pressures in the fiercely contested Chinese food delivery market.

The e-commerce giant recently entered the food delivery sector with its JD Takeaway service, promising "zero commissions all year round" to onboard restaurants. This aggressive strategy aimed to disrupt the market share of established players like Meituan and Alibaba's Ele.me. However, JD.com has now publicly addressed anti-competitive pressures on its food delivery couriers, claiming that rival platforms are coercing workers to avoid taking orders from JD Takeaway.

In response to these allegations, market leader Meituan has strongly denied any wrongdoing, asserting that it has never restricted couriers from working with other delivery services. The company even suggested that JD.com itself might be limiting its couriers' ability to work with other platforms. This public dispute has raised concerns among investors about the potential profitability and growth prospects of JD's new venture in the low-margin food delivery sector. As the competition intensifies, JD.com's promise to double its recruitment of full-time riders and offer them direct labor contracts with full insurance benefits may further pressure its margins, contributing to the stock's sharp decline.