Is Meituan still worth investing ?Meituan Class BHKEX_DLY:3690dchua1969This is a common phenomenon in China. When one major player in any industry does well, it attract others to come and join in the party. Look at EV sectors, with so many brands cutting prices so frequent that consumers are spoilt for choice and delayed in making purchases, resulting in market shares dilution for the players. The same can be said for the food delivery business. Once, Meituan held a dominant market share position but over time, Ele.me (Alibaba) and now JD.com has slowly increased their market shares as well. The price war is so severe that the government has summoned the players for a meeting. We can see that the share price of Meituan has dropped from a peak of 216 to current price of 101 , more than 50% fall from its glorious days. Sales moving forward will become harder to achieve with the two competitors. It may have to share its leadership position with them, reluctantly. I see a valued buy at the 87 price level where I am likely to accumulate this company. Please DYODD