ab Global Research 25 August 2025 China Internet Sector Quick commerce monthly: Alibaba gaining momentum Riders: 3P riders and overlap ratio both increased (Fig 4), likely due to increased platform subsidies to ensure sufficient fulfilment capacity in light of robust order growth. The higher overlap ratio might suggest a rise in unit fulfilment cost as competition for 3P riders intensifies. On 1P riders, we noted an upward trend in both Meituan and Eleme (Fig 5). Both platforms are enhancing fulfilment expe ...