The final analysis of the three food delivery companies is very thorough, and currently it seems that Alibaba has the best chance of winning. Even if the subsidized orders end up losing money, they can still make a profit even if they are spread over several years. Meituan's pricing moat has been broken. Meituan has not had many commercial innovations, relying on refined operations to gradually deduct profits. Alibaba solves everything through growth, except for Ele.me's high frequency, there are still several apps with daily active users of millions that have not been used. The power of linkage is terrifying. Meituan has all its businesses under Alibaba, but with 20% of the business volume divided and the consumption of food delivery subsidies, Meituan's profitability has been difficult in recent years