在沉寂若干年后，巨头重启战火。2月11日，老历正月十四，冲蛇煞西，宜雇庸、动土、开光、上梁，京东高调进军外卖。六月更热闹，美团首度参 加"6.18"大促，众所周知，618是京东的店庆。二十七周年的前一天，京东又杀入旅游。下旬阿里将饿了么和飞猪并入电商事业群，更名大消费，并于7月 2日宣布闪购500亿补贴。 业态驱动竞争，拼多多俨然超二赶一，网友明察，双强互卷，最受伤的是其余玩家。京东不甘沦为老三，亟需突破。情绪价值转移的压力，也给到本地生 活和美团，此外存量日拱一卒为社会所遏制。两家过去皆以好勇斗狠著称，可谓不谋而合。阿里自"吴妈"上任以来，大力瘦身，矢志重新创业。练兵莫过 于实战，恰逢其会，"我剑也未尝不利"。 2025过半，还是这个套路，继续卷。当年外卖大战，养活好几届清澈的大学生，随着电商优惠越来越华而不实，用户已麻，对这轮补贴舆论反应平淡。然 而微博上有商家抱怨订单过载，被平台挟持承担补贴成本，行业又又破坏大环境了。 卷本身无悬念。当年外卖打车作为巨头的代理人战争，最终没能卷出结果，而是以并购收场，何况如今巨头亲自下场，当年的代理人也成长为巨头。1914 欧洲开战之初谋求速决，德军按史里芬计划进击巴黎 ...

Core Insights - Zhejiang Huaye (301616) reported strong financial performance for 2024, with total revenue of 892 million yuan, a year-on-year increase of 21.20%, and a net profit attributable to shareholders of 92.94 million yuan, up 32.21% [1] - The company continued its growth in Q1 2025, achieving revenue of 215 million yuan, a 22.19% increase year-on-year, and a net profit of 16.90 million yuan, up 30.16% [1] - The plastic machinery industry in China has established a mature industrial system, with main business income of 104.9 billion yuan in 2024, a 9% increase, and total profit of 10.4 billion yuan, up 12% [2] Financial Performance - In 2024, Zhejiang Huaye's basic earnings per share were 1.549 yuan, and the weighted average return on net assets was 10.64% [1] - The company's revenue and profit growth were driven by strong demand in the downstream industry and stable partnerships with major plastic molding equipment manufacturers [1] Industry Overview - The plastic machinery industry is dominated by injection molding machines, which account for over 40% of the output value and are widely used in automotive, home appliances, and 3C industries [1] - China's plastic molding equipment production accounts for over 50% of the global market, with domestic market share increasing from 78% in 2019 to 83% in 2020 [2] Company Positioning - Zhejiang Huaye focuses on the R&D, production, and sales of core components for plastic machinery, such as screws and barrels, and has built a strong industry understanding [2] - The company has established a comprehensive and efficient production management system to meet the supply needs of brand and medium-to-large customers [3] Technological Advancements - In 2024, the company's R&D investment reached 30.05 million yuan, a 30.77% increase, leading to several industry-leading technologies [5] - The company has developed a patented method for producing wear-resistant layers for screws and barrels, combining traditional centrifugal casting techniques [5] Market Strategy - Zhejiang Huaye has successfully penetrated international markets, exporting to countries like Canada, the USA, and Germany, and has established long-term partnerships with major global and domestic players [5] - The company aims to enhance its global presence and become a leading manufacturer of core components for plastic molding equipment, focusing on customized production to meet specific client needs [6]