In the first quarter that Alibaba fully invested in instant retail, it lost nearly 38 billion. To achieve this revenue of 22.9 billion, it spent nearly 40 billion more. In contrast, Meituan, in the 1VS2 (against Alibaba and JD), still maintained positive revenue growth, reaching 95.5 billion, with a core business loss of 14.1 billion.
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In the first quarter that Alibaba fully invested in instant retail, it lost nearly 38 billion. To achieve this revenue of 22.9 billion, it spent nearly 40 billion more. In contrast, Meituan, in the 1VS2 (against Alibaba and JD), still maintained positive revenue growth, reaching 95.5 billion, with a core business loss of 14.1 billion.