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Meituan aims to improve the operational efficiency of its retail businesses through technologies, such as artificial intelligence and drones.
‘We anticipate a revenue slowdown because management expects consumers to be more cautious and value-oriented,’ a Morningstar analyst says, as at least 30 brokers slash their 12-month price target by 10 to 49 per cent.
The 44-year-old mogul still has a sizeable net worth of $9.3 billion, but he is having trouble convincing investors skeptical of the firm’s future outlook.
Baidu doesn’t face the challenges Alibaba does, making its stock a more attractive bet on China’s technology sector.
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