$Luckin Coffee(LKNCY.US) rose over seven percentage points, driven by solid progress like New York store expansion and the launch of smart roasting factories; on the same day, $MIXUE GROUP(02097.HK) and $Chagee(CHA.US) both fell six to eight percentage points.

All are in the new tea beverage and coffee track, why can $Luckin Coffee(LKNCY.US) stand out and strengthen independently, while the other two are getting their valuations slashed? I lean towards the difference between overseas execution and domestic involution — $Luckin Coffee(LKNCY.US)'s growth story is overseas, while $MIXUE GROUP(02097.HK) and $Chagee(CHA.US) are still trapped in domestic market saturation and price wars. This divergence is highly likely to continue in the short term. When do you think the overseas story for $MIXUE GROUP(02097.HK) and others will kick in?