外卖大战升级！

近日，美团、淘宝闪购、京东外卖等平台发放大量外卖红包券，外卖大战愈演愈烈。许多消费者在社交媒体平台晒出“零元购”的订单，引发热议。

今天你练听力了吗？

🤔️小作业：

1. How does the passage develop its discussion of the bubble tea market?

A. By first analyzing consumer preferences, then discussing production costs

B. Through stock performance data, platform competition details, and analyst comments

C. Using a chronological history of China's beverage industry development

D. Focusing exclusively on social media reactions to price cuts

无注释原文：

Chinese Bubble Tea Stocks Rise as Food-Delivery Platforms Brew Up Discount War

From: The Wall Street Journal

Shares of Chinese bubble-tea brands advanced as food-delivery platforms have stepped up discounts in a scramble to capture users, boosting tea beverage sales.

Sichuan Baicha Baidao Industrial rose as much as 15% on Monday morning in Hong Kong before paring gains to 7.3%. Guming Holdings and Mixue Group were up 7.5% and 3.0%, respectively. Hong Kong's benchmark Hang Seng Index was last down 0.45%.

After tech giant JD.com entered the food-delivery business in February, it has made aggressive moves to take on established market leaders such as Alibaba's Ele.me and Meituan, including a plan to hire 100,000 full-time riders to expand the new business.

Subsequently, Ele.me rolled out a 10 billion yuan, equivalent to $1.40 billion, subsidy program in April to compete with Meituan and JD.com.

Competition among Chinese food-delivery services was ratcheted up over the weekend as platforms engaged in a renewed round of offers and vouchers for users.

Buyers scored offers for beverages for less than 2 yuan, or even for free by stacking vouchers, with some dubbing the delivery giants' turf war as “the sweetest business war in history” on social media. Pictures of delivery men swamping tea stores and buyers placing more than 10 orders a day flooded Chinese social media over the weekend.

After handing out vouchers aggressively, China's largest food-delivery platform, Meituan, said order volumes exceeded the company's historical peak and crashed the system temporarily around 6 p.m. on Saturday, according to a post on Weibo.

Freshly made beverage companies stand to benefit the most from the intense price competition among Chinese food-delivery platforms, Daiwa analysts said in a recent note.

Daiwa estimated that 30%-50% of recent subsidies are targeted at freshly made tea beverages due to their low average selling price and high purchase frequency.

The intensity of competition between existing market leaders and newcomers have risen to a new level, Goldman Sachs analysts said in a recent research note.

“We believe the duration of investments this time will extend for longer—given all of the companies are shifting focus to become China's 'everyday app' for transactions across goods and services,” the Goldman Sachs analysts said.

- ◆ -

注：完整题目见本文开头；中文文本为华尔街日报官方译文，仅供参考

含注释全文：

Chinese Bubble Tea Stocks Rise as Food-Delivery Platforms Brew Up Discount War

From: The Wall Street Journal

Shares of Chinese bubble-tea brands advanced as food-delivery platforms have stepped up discounts in a scramble to capture users, boosting tea beverage sales.

中国奶茶品牌的股价上涨，随着外卖平台为争夺用户而加大折扣力度，茶饮销量得到提振。

1）表示“在有需要（或有机会）时采取行动”，英文解释为“to take action when there is a need or opportunity for it”举个🌰：Investors have to step up and assume more responsibility for their assets. 投资者必须采取行动，为他们的投资承担更多责任。

2）表示“增加（尺寸或数量）；加快（进程）的速度”，英文解释为“to increase the size, amount, or speed of a process that is intended to achieve something”举个🌰：The police are stepping up their efforts to fight crime. 警方正在加大打击犯罪活动的力度。

scramble /ˈskræm.bəl/ 作名词，表示“争抢；抢占；争夺”，英文解释为“a situation in which people push, fight or compete with each other in order to get or do sth”举个🌰：There was a mad scramble for the best seats. 人们不顾一切地抢占最好的座位。

作动词：1）表示“艰难地（或仓促地）完成”，英文解释为“to manage to achieve sth with difficulty, or in a hurry, without much control”

2）表示“仓促行动”，英文解释为“If you scramble to a different place or position, you move there in a hurried, awkward way.”举个🌰：He threw back the covers and scrambled out of bed. 他掀开被子，急忙下了床。

3）表示“争夺”，英文解释为“If a number of people scramble for something, they compete energetically with each other for it.”举个🌰：More than three million fans are expected to scramble for tickets. 预计会有三百万以上的歌迷抢购门票。

4）表示“扰乱（思维）”，英文解释为“to confuse sb's thoughts, ideas, etc. so that they have no order”举个🌰：Alcohol seemed to have scrambled his brain. 酒精似乎扰乱了他的脑子。

boost /buːst/ 可以作名词也可以作动词，表示“改善；提高；增强；推动”，英文解释为“to improve or increase something”举个🌰：The theatre managed to boost its audiences by cutting ticket prices. 剧院设法通过降低票价来增加观众数量。

📍“佩洛西有病还是先治病吧”文中提到be boosted，get boosted用来指打了加强针（疫苗），也有说booster shot/booster dose.

beverage /ˈbev.ər.ɪdʒ/ 表示“饮料”，英文解释为“a drink of any type”举个🌰：Hot beverages include tea, coffee, and hot chocolate. 热饮包括茶、咖啡和热巧克力饮料。

Sichuan Baicha Baidao Industrial rose as much as 15% on Monday morning in Hong Kong before paring gains to 7.3%. Guming Holdings and Mixue Group were up 7.5% and 3.0%, respectively. Hong Kong's benchmark Hang Seng Index was last down 0.45%.

茶百道（Sichuan Baicha Baidao Industrial）周一上午在香港市场一度上涨15%，随后涨幅收窄至7.3%。古茗控股（Guming Holdings）和蜜雪冰城（Mixue Group）分别上涨7.5%和3%。香港基准股指恒生指数最新下跌0.45%。

paring gain出现在财经或股市语境中，意思是： 涨幅收窄、削减涨幅。paring：动词pare的现在分词，意思是“削减、减少、削皮”，在金融语境中指缩减、回吐部分涨幅。gain：指价格或数值的上涨、盈利、增幅。

benchmark /ˈbentʃ.mɑːk/ 表示“基准（点）”，英文解释为“a level of quality that can be used as a standard when comparing other things”举个🌰：Her outstanding performances set a new benchmark for singers throughout the world. 她的精彩表演为全世界歌手树立了新典范。

After tech giant JD.com entered the food-delivery business in February, it has made aggressive moves to take on established market leaders such as Alibaba's Ele.me and Meituan, including a plan to hire 100,000 full-time riders to expand the new business.

科技巨头京东在2月份进入外卖行业后，已采取大力度举措，挑战阿里巴巴旗下的饿了么以及美团等老牌市场领导者，包括计划招聘10万名全职骑手以扩大这项新业务。

aggressive /əˈɡres.ɪv/ 1）表示“好斗的；挑衅的；侵略的”，英文解释为“angry, and behaving in a threatening way; ready to attack”

2）表示“气势汹汹的；声势浩大的；志在必得的；积极进取的；有冲劲的；雄心勃勃的”，英文解释为“acting with force and determination in order to succeed”如：an aggressive advertising campaign 一场声势浩大的广告宣传活动。

take sb on表示“同…较量（或争斗）”，英文解释为“to compete against or fight someone”举个🌰：They took on the unions and won. 他们同工会进行了一番较量后取得了胜利。

established /ɪˈstæb.lɪʃt/ 形容词，1）可以表示“（因为优秀而）被认可的，著名的”，英文解释为“used for describing someone who is known for doing a job well, because they have been doing it for a long time”如：an established artist/star 著名艺术家/明星。

2）表示“（因长期存在而）已确立的；被承认的；既定的”，英文解释为“accepted or respected because of having existed for a long period of time”举个🌰：There are established procedures for dealing with emergencies. 处理紧急情况有一些既定程序。

Subsequently, Ele.me rolled out a 10 billion yuan, equivalent to $1.40 billion, subsidy program in April to compete with Meituan and JD.com.

随后，饿了么在4月份推出了人民币100亿元（相当于14.0亿美元）的补贴计划，与美团和京东展开竞争。

subsequently /ˈsʌb.sɪ.kwənt.li/ 表示“随后；后来；之后；接着”，英文解释为“afterwards; later; after sth else has happened”举个🌰：The original interview notes were subsequently lost. 采访记录原稿后来丢失了。

rollout作名词时，表示“首次提供（产品或服务）”，英文解释为“the act of making something, especially a product or service, available for the first time”举个🌰：Since its rollout in 2011, Wechat has gained billions of members. 自从2011年首次提供使用以来，微信已经吸引了数以亿计的用户。

📍2020年政府工作报告Part 12中就提到：We will support the rollout of e-commerce and express delivery services in rural areas to expand rural consumption. 支持电商、快递进农村，拓展农村消费。

📍roll out 动词短语，表示“推出（新产品或服务）”，英文解释为“If a company rolls out a new product or service, or if the product or service rolls out, it is made available to the public.”举个🌰：Microsoft rolls out its new operating system. 微软推出了它的新操作系统。

📍此外，roll out还有另一个含义，表示“将…轧平”，英文解释为“to make sth flat by pushing sth over it”举个🌰：Roll out the pastry. 将油酥面团擀平。

🎬电影《老爸上战场》（Dad's Army）中刚好有这个例句：Shall I roll out the pastry?  我要把面团轧平吗？

equivalent /ɪˈkwɪv.əl.ənt/ 1）作形容词，表示“（价值、数量、意义、重要性等）相等的，相同的”，英文解释为“equal in value, amount, meaning, importance, etc.”举个🌰：Eight kilometres is roughly equivalent to five miles. 八公里约等于五英里。

2）作名词，表示“相等的东西；等量；对应词”，英文解释为“a thing, amount, word, etc. that is equivalent to sth else”

subsidy /ˈsʌb.sɪ.di/ 表示“补助金；津贴，补贴”，英文解释为“money given as part of the cost of something, to help or encourage it to happen”举个🌰：The company received a substantial government subsidy. 公司得到了大笔的政府津贴。

Competition among Chinese food-delivery services was ratcheted up over the weekend as platforms engaged in a renewed round of offers and vouchers for users.

上周末，随着各平台为用户推出新一轮优惠和代金券，中国外卖服务之间的竞争加剧。

ratchet /ˈrætʃ.ɪt/ sth up/down表示“逐步增加／减少”，英文解释为“to increase/reduce something over a period of time”举个🌰：The debate should ratchet up awareness of the problem among members of the general public. 这场辩论可以使普通百姓逐步认识这个问题。

voucher /ˈvaʊ.tʃər/ 表示“代金券，票券”，英文解释为“a piece of paper that can be used to pay for particular goods or services or that allows you to pay less than the usual price for them”举个🌰：The voucher is valid between July and December and entitles you to ten percent off all overseas flights. 该代金券在7月至12月间有效，凭此券所有国际航班可享受9折的优惠。

区分：

📍coupon表示“优惠券，折价券；赠券，礼券”，英文解释为“A coupon is a piece of printed paper which allows you to pay less money than usual for a product, or to get it free.”

Buyers scored offers for beverages for less than 2 yuan, or even for free by stacking vouchers, with some dubbing the delivery giants' turf war as “the sweetest business war in history” on social media. Pictures of delivery men swamping tea stores and buyers placing more than 10 orders a day flooded Chinese social media over the weekend.

通过叠加使用代金券，消费者可以买到价格低于人民币2元的饮料，甚至可以“零元购”；一些人在社交媒体上将这些外卖巨头的地盘争夺战称为“史上最甜商战”。上周末，外卖员挤爆奶茶店、消费者一天下单超过10笔的图片在中国社交媒体上刷屏。

stack /stæk/ 1）表示“把…放成整齐的一摞；把…码成堆”，英文解释为“to arrange things in an ordered pile”举个🌰：Once the last few people had left the hall, the caretaker began stacking (up) the chairs. 最后几个人一离开大厅，看门人就开始把椅子摞起来。

2）表示“码放，摆放”，英文解释为“to fill something with objects”举个🌰：I got a job stacking shelves in a supermarket. 我在一家超市找到了一份在货架上码货的工作。

dub /dʌb/ 1）表示“把…称为”，英文解释为“If someone or something is dubbed a particular thing, they are given that description or name.”举个🌰：Today's session has been widely dubbed as a "LearnAndRecord" meeting. 今天的会议被大众称为LearnAndRecord的会议。

2）表示“为（影片或声道等）配音”，英文解释为“If a film or soundtrack in a foreign language is dubbed, a new soundtrack is added with actors giving a translation.”举个🌰：It was dubbed into Spanish for Mexican audiences. 它已为墨西哥观众配成西班牙语了。

turf war /ˈtɜːf ˌwɔːr/ 表示“地盘之争，地盘争夺战”，英文解释为“a fight or an argument to decide who controls an area or an activity”

swamp /swɒmp/ 1）表示“淹没，浸没”，英文解释为“to cover a place or thing with a large amount of water”举个🌰：High tides have swamped the coast. 高涨的潮水淹没了海岸。

2）表示“充斥，席卷，使应接不暇”，英文解释为“If something swamps a person, system, or place, more of it arrives than can be easily dealt with.”举个🌰：Foreign cars have swamped the UK market. 外国车席卷了整个英国市场。

After handing out vouchers aggressively, China's largest food-delivery platform, Meituan, said order volumes exceeded the company's historical peak and crashed the system temporarily around 6 p.m. on Saturday, according to a post on Weibo.

微博上的一篇帖子显示，中国最大的外卖平台美团称，在大举发放代金券后，其订单量超过了公司的历史峰值，并在上周六下午6点左右导致系统暂时崩溃。

volume /ˈvɒl.juːm/ 作名词，1）表示“总数；总量；总额”，英文解释为“the number or amount of something in general”举个🌰：It's the sheer volume of traffic in the city that is causing the problems. 造成这些问题的就是城里的交通流量。

2）表示“容积；体积；容量”，英文解释为“the amount of space that is contained within an object or solid shape”举个🌰：Which of these bottles do you think has the greater volume? 你认为这些瓶子中哪个容积最大？

3）表示“卷；册”，英文解释为“one in a set of related books”也可以表示“书”，英文解释为“a book”如：如：a volume of poetry 一本诗集，举个🌰：She took a slim volume down from the shelf. 她从书架上取下一本很薄的书。

4）表示“音量；音量调节钮”，英文解释为“the level of sound produced by a television, radio, etc., or the switch or other device controlling this”举个🌰：Could you turn the volume down, please, I'm trying to sleep. 你能把音量调低些吗？我要睡觉。

exceed /ɪkˈsiːd/ 表示“超过，超出（数量）；超越（规定的范围）”，英文解释为“to be greater than a number or amount, or to go past an allowed limit”举个🌰：The final cost should not exceed ￥100. 最终的花费不应超出100元。

📍词根“-ceed”表示"走，去"，前缀“ex-”表示"出，超出"。近义词：surpass（超过），同根词：proceed（进行），succeed（成功）

peak /piːk/ 可以作名词，也可以作动词，表示“（达到）峰值”，英文解释为“When something peaks, it reaches its highest value or its highest level.”举个🌰：Temperatures have peaked at over 90 degrees. 温度已达到峰值，超过了90度。

Freshly made beverage companies stand to benefit the most from the intense price competition among Chinese food-delivery platforms, Daiwa analysts said in a recent note.

大和（Daiwa）分析师在最近的一份报告中表示，现制饮品公司将从中国外卖平台激烈的价格竞争中获益最大。

Daiwa estimated that 30%-50% of recent subsidies are targeted at freshly made tea beverages due to their low average selling price and high purchase frequency.

大和估计，由于现制茶饮的平均售价低、购买频率高，近期30%-50%的补贴都投向了这类产品。

The intensity of competition between existing market leaders and newcomers have risen to a new level, Goldman Sachs analysts said in a recent research note.

高盛（Goldman Sachs）分析师在最近的一份研报中表示，现有市场领导者和新进入者之间的竞争激烈程度已上升到新水平。

intensity /ɪnˈten.sə.ti/ 1）表示“强烈；剧烈”，英文解释为“the quality of being felt strongly or having a very strong effect”举个🌰：The explosion was of such intensity that it was heard five miles away. 爆炸的巨响5英里以外都能听见。

2）表示“（感情或看法的）强烈；认真；全情投入”，英文解释为“the quality of being very serious and having strong emotions or opinions”举个🌰：The intensity of their relationship was causing problems. 他们关系中所牵涉的感情强烈得引发了问题。

“We believe the duration of investments this time will extend for longer—given all of the companies are shifting focus to become China's 'everyday app' for transactions across goods and services,” the Goldman Sachs analysts said.

上述高盛分析师表示：“所有公司都在将重点转向成为中国处理商品和服务交易的'日常应用'，有鉴于此，我们认为这次投资的持续时间会更长。”

transaction /trænˈzæk.ʃən/ 表示“交易”，英文解释为“an occasion when someone buys or sells something, or when money is exchanged or the activity of buying or selling something”

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