千亿元补贴换市场？阿里、京东、美团三季报暴露外卖烧钱真相

老马那些事11-30

2025年二三季度，阿里巴巴、京东、美团在外卖市场激战正酣，半年累计投入超1000亿元。三季报显示：美团经营亏损198亿元（上市以来最差），阿里经营利润骤降85%至54亿元，京东亦由盈转亏，亏损10.5亿元Body正文2025年下半年，中国本地生活战场硝烟弥漫。阿里巴巴（饿了么）、京东（京东外卖）与美团掀起史无前例的外卖补贴大战，仅2025年第二、三季度，三方合计投入超1000亿元，以巨额补贴争夺...

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