Market Insight | Meituan-W surges more than 5% in the afternoon, joins hands with Focus Media to enter the elevator media market, and will comprehensively upgrade cooperation with Kuaishou

Meituan-W rose more than 5% in the afternoon, up 4.74% as of the time of publication, at HKD 121.6, with a turnover of HKD 35.63 billion. On the news front, according to the "Meituan Takeaway Partner City" WeChat official account, Meituan plans to recruit elevator media advertising partners (video elevator media) in sinking cities. Meituan will provide equipment and business support on its side; while partners will be responsible for installing equipment, sales, and advertising production. Focus Media responded: We are working with Meituan to promote the operation of elevator video media in lower-tier cities, hoping to provide more comprehensive and high-quality services to small and medium-sized enterprises in sinking markets through the advantages of both parties. In addition, according to 36Kr citing sources close to Kuaishou, the strategic cooperation between Kuaishou and Meituan has recently expired and been renewed, with the cooperation between the two parties set to be fully upgraded. Under the agreement, the scope of cooperation between Kuaishou and Meituan in the next three years will expand to "hundreds of cities and thousands of stores" nationwide. Kuaishou's related data shows that in June, the GMV of Meituan merchants on the Kuaishou platform increased more than 38 times year-on-year, and the number of orders increased more than 10 times year-on-year