Buy Alibaba, Sell Meituan Pair Trade Thrives on Price War Bets

Delivery couriers for Alibaba's Ele.me, left, and Meituan in Shanghai.Photographer: Qilai Shen/Bloomberg

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Jeanny Yu and Chongjing Li

November 7, 2025 at 12:00 AM UTC

Updated on

November 7, 2025 at 2:46 AM UTC

Betting on the widening gap in stock performance of two of China’s biggest internet companies has been a slam-dunk this year, and analysts say the trade may have further to run.

Going long on Hong Kong-listed Alibaba Group Holding Ltd. combined with a short on Meituan would have delivered a return of 130% year to date. That’s come as Meituan shares slumped on market share loss to Alibaba in food delivery, while Alibaba’s stock has doubled on the artificial intelligence boom.