外卖大战+出海不顺，高盛为什么看衰中国互联网大厂

Group 1 - The core viewpoint is that major Chinese internet companies are expected to continue facing losses in the second and third quarters of the year, marking the first negative growth in financial reports in several years, primarily due to the ongoing food delivery battle and increasing uncertainties in overseas business [1][2] Group 2 - The losses are attributed to the ongoing competition in the food delivery sector, which, despite being officially halted, continues to exert pressure on major internet companies as they vie for users and traffic [2] - The intensity of investment in subsidies remains high, with estimates suggesting that losses could exceed 10 billion yuan each quarter, as the competition for subsidies has not yet peaked [2] - While consumers may benefit from the food delivery battle, small and medium-sized businesses have not fully reaped the rewards, indicating a disparity in the market dynamics [2]