MEITUAN-W (03690.HK) -1.500 (-1.138%) Short selling $353.49M; Ratio 14.189% recently suspended sales on its Select mini program in multiple regions, according to Morgan Stanley's research report. The Company also announced a comprehensive expansion into the instant retail business, including store and InstaMart expansion, and product categories increase. Xiaoxiang Supermarket will also gradually expand to all first- and second-tier cities. The broker estimated that Meituan Select business will generate a loss of approx. RMB7 billion in 2024, and expected 2025 loss to be around RMB6-7 billion. Related NewsCiti Sets JD LOGISTICS (02618.HK) TP at $18 as Full-time Rider Recruitment for JD Food Delivery Has SynergiesFurthermore, BABA-W (09988.HK) -2.600 (-2.251%) Short selling $403.47M; Ratio 7.766% (BABA.US) recently announced the merger of Ele.me and Fliggy into its China e-commerce business group. Morgan Stanley believed that this move reflects the group's strong synergy in e-commerce, instant delivery and travel segments, providing one-stop customer service and enhancing business efficiency. JD-SW (09618.HK) +0.300 (+0.231%) Short selling $102.38M; Ratio 15.689% (JD.US) also announced earlier its entry into the e-commerce and food delivery, as well as travel platform markets, reflecting JD-SW's recognition of cross-selling opportunities. Recent reports highlight that 40% of new food delivery users are converted from e-commerce users.The broker's top pick in the e-commerce industry is BABA-W, due to its role as an AI driver, with its accelerated cloud revenue serving as a catalyst, followed by MEITUAN-W for maintaining long-term competitiveness; and JD-SW.(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-06-26 12:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)Related NewsCiti Keeps Buy on BABA-W; Inclusion of Ele.me & Fliggy in Core E-commerce Biz Will Bring More Resources