Chinese on-demand local services giant Meituan said its second-quarter earnings fell sharply, as it faced off against Alibaba Group Holding and JD.com in a costly delivery price war. Meituan’s management, however, said on Wednesday’s earnings call that the company would not be “greatly affected by a short-term price war”, highlighting its operational efficiency. Still, the management said the company would continue to prioritise growth over profitability in instant commerce. They also projected...