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Yawen Chen 3 minute read A delivery worker of Chinese online grocery Dingdong Maicai is seen on a street in Shanghai, China June 10, 2021. REUTERS/Aly Song HONG KONG, June 28 (Reuters Breakingviews) - The online grocery party in China is already going bad. Missfresh (MF.O) shares plunged 26% on their New York debut, a worrying sign for rival Dingdong Maicai’s (DDL.N) upcoming listing. Price wars and logistics costs have crushed margins and e-commerce giants are muscling into the sector. Joining forces may give both a better chance of survival. Seven-year-old Missfresh (MF.O) is a pioneer in online groceries, China’s hottest e-commerce sector. The app was among the first to offer ultra-fast delivery of fresh fruit, meat and other produce to the doorstep of Chinese urbanites. Missfresh says its roughly 8 million users wait just 39 minutes on average for items to be delivered. That’s thanks to an impressive but costly network of over 600 distribution centres with cold

New yorkUnited statesNew york stock exchangeKatrina hamlinYork stock exchangeSouth china morning postReuters breakingviewsDingdong maicaiDidi globalRobyn makபுதியது யார்க்ஒன்றுபட்டது மாநிலங்களில்புதியது யார்க் ஸ்டாக் பரிமாற்றம்காற்றின ஹாம்லின்யார்க் ஸ்டாக் பரிமாற்றம்தெற்கு சீனா காலை போஸ்ட்