MEITUAN-W (03690.HK)  +1.400 (+1.077%)    Short selling $395.92M; Ratio 13.223%   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.

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Furthermore, BABA-W (09988.HK)  +2.000 (+1.775%)    Short selling $514.94M; Ratio 12.153%   (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)  +3.300 (+2.607%)    Short selling $107.87M; Ratio 14.768%   (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 2025-06-25 12:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)

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