2.5. And now let's proceed to scenario analysis. Good evening, ladies and gentlemen. We're back to our business show today. Nowadays, Meituan has already been emerging apps.

And at the beginning, Meituan is only a popular app like in Chinese market. But right now, when Meituan dominated the Chinese market, it has expanded to Brazil Saudi Arabia and Hong Kong So today we are honored to we are not just invited two professional professors come to our business show This is Charles and this is Chloe And Charles may I ask you a question? Why Meituan can become an emerging app? That is a very good question.

Before I start my analysis, let's turn the time back into 2021. Let's see what is the original strategy of Meituan in the beginning. 2021 is the era of the rise of the Internet. Meituan, as an online food delivery app, has a lot of competitors at the same time. But how Meituan wins this battle? How can it survive in this cruel competition?

Its main key point is it keeps long-term orientation strategy and try to be divergent, be different from its competitors. When its competitors try to gain in the market of bigger city or modernized cities, Meituan tries to gain in small city, the three land cities, and in same time, Meituan try to use low price strategy to beat its competitors.

is committed her charge 20 or 30 yuan for one meal, Meituan's charge or just lower as between 10 to 20 or even lower. There was the divergence, be the difference. And this strategy was also kept in her process of going to the foreign markets. Okay, so you mentioned that because Meituan is...

So can you tell us why Meituan can become a popular app in the international market? So they use the same strategy? Yes, when Meituan goes into the foreign market, It also keeps its main purpose that is the low price and the long-term orientation.

Before Meituan just go into the foreign countries, it tries to get in the Hong Kong markets because Hong Kong market is kind of different from the China inland. And there could be a bridge that doesn't make me try and go across China market Chinese market to foreign markets and it also keeps its main purpose like When it's facing this food sellers It will lower the fees the service fees and they give it there more revenues when we is facing the buyers food buyers will it will give more activities to give them chance to reach more discounts.

That was a very key point that they can attract consumers. And when it get into Brazil market, Meituan put more investigation in it. They also could also show that it's a long-term orientation. Meituan do not focus on the profit of this season or this year. Meituan's view was on the future. Meituan thinks his investment was worse to be that.

Okay so Chloe do you agree with Charles Actually I agree with him But I also want to mention a key point is about Meituan going global That is, globalization. The key street that he mentioned about Meituan also changed his name into Kita. He used this app into the Hong Kong market. And the second step they taken is to setting new teams in the Hong Kong market.

and also to research their local transportation situations, and also the local consumers focus on the local needs. And the third point is they also compared with Uber, this app in the western countries, they also provided the consumers who use their Keto frequently to offer them becomes a black golden member.

That means that you can reduce the fees from service. Who don't want to have the discount that can save your money? So this is a key point about Meituan compared with Uber, Easter, these apps. Also, last thing is about they not only rely on the riders, they also develop their technology. Like they use AI in their apps and also developed the new delivery style in Saudi Arabia and Brazil, this market, just to adjust their market situations and also fit to their needs.

Okay, so that means they made some new adjustments. Okay, so from the explanation of Charles and Chloe, we can see that Meituan is not starting from the top. It started from the bottom. They go in viral step by step because in this globalization world, people think globalization only connects the market, but actually globalization connects our hearts.

So when we focus on the benefits of Meituan, we can get food and make our life more convenient. We also focus that when we do the things, no matter our study or in our daily life, our work, we need to never forget the past. And we need to see, look forward the future. And to do as this globalized world do.

Thank you.