$PDD Holdings Inc(PDD)$ Is the food delivery market really that lucrative? The competition in this field has been going on since the "hundred - group war" until now. Meituan can be regarded as an amplifier in the consumer market. With the intensification of competition, the consumer market is sluggish. In this regard, it is far inferior to Pinduoduo. The management teams of both companies are quite shrewd at making money. Looking at it this way, it seems like it might be a good time to buy at the bottom.

$Alibaba(BABA)$ Judging from the competition between JD.com and Meituan, Alibaba's current strategy is correct. It focuses on developing technology, cloud computing, and AI. These aren't things that can be achieved just by having people and money. They require long - term technical accumulation, and the barriers are relatively high. Just like chips, it's not something that any company can develop overnight; it needs long - term technical accumulation.

$PDD Holdings Inc(PDD)$ I carried out the operation of increasing my positions in NVIDIA ($NVDA$) and Pinduoduo ($PDD$) on Monday. It's just that when I first set up this portfolio, I didn't understand well and it seems that I directly went all-in. In fact, the actual returns could have been even higher.

$Alibaba(BABA)$ Although investing in technology stocks is highly variable, we can also observe that companies with the largest market capitalization are most likely those that represent advanced productive forces. Remember, in the 1990s, the company with the largest market capitalization was General Electric, representing the peak of the electrification era. After 2000, it was internet companies, signaling the advent of the information technology era. After 2010, the companies with the largest market capitalization were mobile internet companies, representing the mobile internet era within the realm of information technology. So, it's reasonable to speculate that by the 2030s, could the company with the largest market ca

$PDD Holdings Inc(PDD)$ The business of Pinduoduo (PDD) is not easy, and the competition is intense. Why is the e-commerce market in China a landscape of competition among several dominant players? And why is the e-commerce market in the United States dominated by a single major company? This is a very interesting question. The answer is definitely not that Chinese people are overly competitive while Americans are not. Only by figuring out this question can we have a better understanding of Pinduoduo and other e-commerce companies. The Chinese market is vastly different from the American market. We must never linearly extrapolate the rise of Pinduoduo in the Chinese market to the American market. Even in the Chinese market

$Alibaba(BABA)$ Alibaba is of such a huge scale that we shouldn't focus on its AI revenue, because currently AI doesn't have the ability to generate revenue on a large scale. Instead, we should look at how much revenue AI can drive for Alibaba Cloud. In the next three years, the revenue of Alibaba Cloud will exceed 200 billion yuan.

$PDD Holdings Inc(PDD)$ If it is an e-commerce platform, AI should analyze users' behaviors, habits, etc., to help users more quickly connect with the products they like and need, and increase the frequency and amount of users' consumption on the platform. The ultimate goal is to help consumers purchase better products. In this way, merchants can make money, and the platform itself can also make a profit. Pinduoduo (PDD) seems to have been focusing on this matter. Maybe Pinduoduo doesn't like being in the spotlight. That's okay. Just continue to shop slowly. It would be best if that know-it-all keeps making a fuss for four years.

$Alibaba(BABA)$ Judging from the current situation, it is estimated that JD.com can probably launch its food delivery business with a subsidy of about 30 billion yuan. With a subsidy of 10 yuan per order and an average of 10 million orders per day, it can keep this up for a year to cultivate users' habits and attract traffic. In the second year, there will be 15 million orders per day, with a subsidy of 5 yuan per order. Spending another 30 billion yuan will probably make the business take shape. I'm not sure if JD.com can withstand this financial pressure. This money is not completely wasted, because the revenue brought to the e-commerce business itself by the food delivery traffic will definitely offset part of the subs

$PDD Holdings Inc(PDD)$ Why is it relatively easy to make money from Americans? I met a new friend yesterday who is engaged in cross-border e-commerce, specifically in the cultural and creative field. The business scale reaches one billion yuan, and the average markup rate is basically equivalent to the exchange rate between the Chinese yuan and the US dollar. This isn't considered particularly high either. After investing in a startup company that failed previously, the founder also turned to Amazon. For the same products, they are sold to Americans at a price ten times higher than that on Pinduoduo! Even if the tariffs are doubled, it doesn't have much impact, and there's no need to adjust the price. If a foreign trade c

$Alibaba(BABA)$ Looking at the global capital markets, the mainstays are internet technology companies, rather than banks or liquor companies. In recent years, Contemporary Amperex Technology Co., Limited (CATL), BYD Company Limited, and Semiconductor Manufacturing International Corporation (SMIC) have emerged suddenly, and the technological attributes of China's A-share market have shown some signs of improvement. Capital has always favored internet technology stocks, but the A-share market lacks giant internet technology companies. Most of the technology stocks in the A-share market are concept stocks related to these giants, such as those associated with Alibaba Group, ByteDance, Tencent Holdings, Apple Inc., etc. Qiho

$PDD Holdings Inc(PDD)$ I'm increasingly feeling what Wang Wen said, that is, investment is about sharing profits. Major shareholders who are willing to share profits are all great philanthropists, and one should associate with great philanthropists. On the day when Pinduoduo (PDD) is willing to distribute substantial dividends, it can surpass Tencent to become my largest heavy position. Until then, there's no need to rush.

$Alibaba(BABA)$ There are still significant differences between Alibaba and JD.com. Alibaba has the genes of world-class innovative capabilities. For example, currently Alibaba is fully committed to artificial intelligence. However, over the years, JD.com has continued to engage in copying and intense internal competition. In the early days, it always followed Alibaba's footsteps. Later, it imitated Pinduoduo, and now it is imitating Meituan... Perhaps this is the reason why the market gives Alibaba a higher valuation. It is also the reason why, although JD.com's valuation seems quite low, I have always been hesitant to invest in it. There always seems to be something lacking in this company.

$PDD Holdings Inc(PDD)$ I planned to use the cash position to buy half of the shares, about 100,000 yuan worth of free cash flow ETFs, and just let them be. But I was so clumsy that I accidentally used margin trading to buy half of the position. I hope there won't be any unexpected problems.

$Alibaba(BABA)$ Recently, the overseas download volume of the Taobao app has surged, while that of Pinduoduo has even declined. Why are there such opposite trends? Under the tariff policy, why can Taobao take such aggressive actions? Both are Chinese platforms relying on the Chinese industrial chain. Why can't Pinduoduo achieve the same? What could be the reasons?

$PDD Holdings Inc(PDD)$ JD.com is the online version of a general merchandise store, Taobao is the online version of a small commodities city, and Pinduoduo (PDD) is the online version of a street stall. Their target customer groups are different.

$Alibaba(BABA)$ The ban on the sale of NVIDIA's graphics cards is regarded as a negative factor, but my opinion is exactly the opposite. In fact, it is beneficial to Alibaba Cloud. Previously, anyone with money could buy graphics cards. Now, it is instead advantageous for those who have hoarded a large number of graphics cards before, cloud service providers that have the real strength to be compatible with graphics cards of different brands, and those that can design their own chips. In other words, Alibaba Cloud will accelerate the expansion of its market share.

$PDD Holdings Inc(PDD)$ In the past two years, I have basically done my online shopping on Meituan. Only when I can't find what I want on Meituan will I turn to other platforms. It saves me a lot of trouble. For example, I don't have to unwrap the express carton or throw away the garbage. Moreover, the goods can be delivered within half an hour, which saves me the trouble of communicating with the courier on the phone when I'm not at home. And most importantly, I feel that the cost - effectiveness is very high. For example, I have a deep impression on the price of cola. The chilled cola delivered to my home by Meituan within half an hour is often cheaper than that on other online shopping platforms in the market.

$Alibaba(BABA)$ Facing the new demands of AI large model training and inference, based on the self-developed "Apsara + CIPU" architecture, the AI cloud computing infrastructure has been comprehensively upgraded; the full-lifecycle MCP (Model Context Protocol) service has been launched, which greatly reduces the development threshold of AI Agents; the "Flourishing Flowers Plan" has been released, and in the next three years, it will jointly explore business opportunities worth tens of billions of yuan with AI ecosystem partners... Recently, Alibaba Cloud held the AI Potential Conference in Beijing and announced a series of major plans to accelerate the implementation of AI applications in the enterprise market and promote

$PDD Holdings Inc(PDD)$ The number of Pinduoduo merchants has reached 14.2 million. Whoever says the economy is bad just fails to grasp the new trends and is still stuck in the old ones. The old trends are likely to be phased out... Buying into new trends essentially means investing in Chinese concept stocks. No one understands new trends better than Chinese concept stocks.

$Alibaba(BABA)$ Today, I bought more Tencent and Alibaba stocks, 420 shares of Tencent and 100 shares of Alibaba. The prices were incredibly cheap, and I just regret not having more money. For these two enterprises, no matter how you invest, you're likely to make a profit. Emotional fluctuations often lead to irrational surges and slumps in the market. What I need to do is the opposite. The more it drops, the more I buy; the more it rises, the more I sell. Only by twisting my own human nature can I overcome the "inhumane market". The capital market is a bloody battlefield. There's no gunsmoke, but every day is a bloody battle.