要看懂2025年，这是你无法避开的41篇文章丨36氪年度精选

Group 1 - The core theme of 2025's business narrative revolves around "war" and "turbulence," particularly highlighted by the epic competition in the food delivery market, where major players like Alibaba, Meituan, and JD engaged in fierce price wars, leading to a significant merging of e-commerce and food delivery boundaries [2][4] - The global narrative shifted from "connection" to "disconnection" due to tariff wars, impacting cross-border e-commerce sellers and manufacturing industries, prompting them to seek survival strategies within supply chain gaps [2][28] - A new generation of Chinese hardware companies, such as DJI and Anker, is successfully penetrating the European and American markets, showcasing a trend of smaller firms achieving significant market impact through unique products and rapid execution [2][9] Group 2 - The Shanghai Composite Index surpassed 3900 points, marking a new high in nearly a decade, while Starbucks' sale in China for 10 billion USD signified the end of the era of foreign premium pricing [3] - The passing of Zhong Qinghou and the succession of his daughter Zhong Fu Li highlighted the complexities of generational transitions in business ownership, particularly in state-owned enterprises [3][5] - The listing of Bawang Tea Princess on NASDAQ amidst a generally cold consumer market provided a significant "non-consensus" example, illustrating the potential for success even in challenging conditions [3][29] Group 3 - The article on the unexpected epic internet war in 2025 details how major companies in the food delivery sector engaged in fierce competition, betting their financial resources and reputations [4] - The narrative of generational succession in companies like Wahaha reveals the intricate dynamics of ownership and control, especially following the death of a founding figure [5] - The report on Starbucks' 13 billion USD sale in China explores the factors leading to this significant transaction, questioning how a leading brand with no competitors reached a point of sale [6][7] Group 4 - The hardware industry is experiencing a renaissance, with new Chinese players leveraging top-tier supply chains and unique speed to capture global markets, marking a shift in the perception of this traditionally less glamorous sector [9][10] - The article on the rise of domestic bag brands illustrates a significant trend in the market, with brands like Shanshiyou Song achieving top rankings in e-commerce, indicating a strong movement towards brand localization [51] - The analysis of the AI application landscape highlights the shift towards application-level competition as foundational capabilities mature, with a focus on global expansion and practical business models [23][62]