According to a research report by CITIC Securities, JD.com's recent high-profile growth in orders has sparked heated discussions. For the food delivery industry, competition will hopefully stimulate market vitality, drive major players to strengthen ecological construction, and have positive value for the development of the industry. From the perspective of the direction of competition, with the expansion of the scale of orders, competition will present an all-round and multi-factor situation. Reviewing the previous head-on collisions in the food delivery market, subsidies have a significant effect on the growth of orders in the short term, but they are not the deciding factor in the direction of competition. Multi-dimensional systemic variables such as delivery efficiency, merchant supply, user repurchase and frequency increase are more core. With the intensification of competition, the capital consumption borne by all parties may be unavoidable, which may disturb market sentiment in the short term. However, from a relatively long-term perspective, we expect the industry's competitive landscape to stabilize, the market ecology to develop benignly, and the platform value to be released in the long term.