Group 1 - Alibaba's strategic upgrade for Taobao Flash Purchase aims to secure a dominant position in the instant delivery market, which is expected to inject strong demand into the industry [1] - The competition in the instant retail sector is becoming more compliant under antitrust regulations, potentially driving a shift from low-priced categories like food and beverages to higher-priced categories, thus creating more growth opportunities for logistics [1] - Increased investment in high-frequency subsidies is likely to boost consumer habits and directly drive the growth of instant delivery order volumes, becoming a key source of industry demand [1] Group 2 - Instant delivery is becoming an essential channel for merchants, leading to a new round of competition among brands and businesses, which may disrupt traditional high-efficiency business models [2] - The expansion of subsidies beyond food and beverages into general merchandise is expected to accelerate the scale effects on the logistics side, creating a positive feedback loop [2] Group 3 - Third-party logistics service providers, such as SF Express, are benefiting from the competitive landscape, with significant growth in business and profit expectations [3] - During the "Double Eleven" shopping festival, SF Express saw a more than 50% year-on-year increase in daily same-city delivery orders, with beverage orders up over 160% and fast food orders up over 110% [3] - As a neutral third-party platform, SF Express experienced notable growth in orders from various channels, including Douyin, Meituan-W, Taobao Flash Purchase, and JD Instant Delivery, with positive growth and profit expectations for the delivery business in 2026 [3]