Food Delivery War Tumbles Tech Stocks; Semiconductors Energized by CXMT
Chenglin Wu
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7-8Mia: You know, I've been hearing some absolutely wild tales lately... like, people are practically getting their dinner delivered for free, and then you hear about delivery riders suddenly raking in serious cash. What in the world is going on with this whole food delivery scene?
Mars: Oh, my friend, you are witnessing the Hunger Games of food delivery. These giants are just throwing money around like confetti in a desperate, no-holds-barred fight for your stomach... I mean, market share. It's fantastic if you're ordering a burger, but it's an absolute dumpster fire for their stock prices.
Mia: So, how much blood is actually on the floor for these tech titans? Are we talking a scratch or a full-blown hemorrhage?
Mars: Oh, it's not pretty. Meituan's stock has basically taken a nosedive, almost 50% down from its glory days. And then, just to add fuel to the fire, Alibaba waltzed in, flashing a 50 billion yuan subsidy plan. What happened? Poof! Meituan, Alibaba, even JD – their stocks all went south together. It's like they're setting shareholder money ablaze just to give us cheap takeout, and nobody's even trying to grab a fire extinguisher.
Mia: So while these tech behemoths are bleeding out, is there anyone actually popping champagne corks from all this chaos?
Mars: Oh, absolutely! It's like a bizarre trickle-down effect. There's a whole line of folks quietly raking it in. Think about it: more food flying around means packaging suppliers are having a field day. Then you've got these cool new food and drink brands, like Mixue and Cha Baidao, their orders are just going through the roof! And get this, even advertising companies like Focus Media are laughing all the way to the bank, because their screens are now just absolutely plastered with ads from all these warring delivery apps.
Mia: Beyond this immediate stock market rollercoaster, how do these insane price wars fundamentally mess with the whole online delivery game for the long haul? What's the real endgame here?
Mars: Look, it's a recipe for disaster. This whole 'burn cash like there's no tomorrow' model? It's just not sustainable. It absolutely torches any chance of real profit, and honestly, it's probably going to draw the beady eye of regulators. They'll see it as a mad dash to the bottom, completely wrecking the market. It's a super high-stakes poker game to see who collapses first.
Mia: Okay, so while that delivery battle royale continues to rage, let's pivot to something completely different, but equally fascinating: the frantic push for tech independence right here at home. Specifically, I'm talking about the semiconductor world.
Mars: Oh, that's a perfect segue, because this isn't just another price war, is it? This is a whole different beast. It's about building serious, long-term foundational strength, not just scrambling for a quick buck or temporary market share.
Mia: So, spill the tea! What's the latest buzz and big moves happening in that space? Especially with Changxin Storage's IPO and any whispers about advanced manufacturing?
Mars: Alright, hold onto your hats! The absolutely massive news is that Changxin Storage, or CXMT as we know them, a proper domestic powerhouse in DRAM memory, has officially kicked off its IPO process. I mean, this is colossal! It's a huge vote of confidence, and it's going to inject some serious energy into the entire domestic semiconductor supply chain, from the raw materials right up to the fancy equipment.
Mia: And what about the really cutting-edge stuff? I've heard some intriguing whispers about new manufacturing breakthroughs. Anything to that?
Mars: You hit the nail on the head! The word on the street is that our leading domestic fabs are just cruising along, making seriously smooth progress on processes that are basically on par with 7-nanometer and even 5-nanometer tech, and get this, with decent production yields! And wait, there's more: rumor has it a major player is super close to sampling their *own* high-bandwidth memory, HBM, which, as you know, is the holy grail for AI chips. It's showing progress across the *entire* stack, from the foundational memory all the way to those mind-blowing cutting-edge components.
Mia: Wow, it's just wild to see these two completely different stories playing out side-by-side, isn't it? One market is basically watching tech stocks crash and burn in a food delivery free-for-all, while the other is getting a massive shot of adrenaline from a super strategic push in semiconductors.
Mars: You absolutely nailed it! That perfectly sums up the bizarre contrast between setting money on fire for a fleeting moment of market dominance versus actually investing in the fundamental tech that's going to shape our entire future.