Chinese bubble tea stocks have experienced broad gains amid intense competition among food-delivery platforms in China. Shares of key bubble tea companies such as Guming, Mixue Group, and Nayuki rose by 13%, 6.7%, and 4% respectively. This surge comes as food-delivery giants Meituan and Taobao escalate a discount war with substantial subsidies, driving increased consumer demand. Meituan reported a record high of over 120 million daily orders on its instant delivery service on July 5, with food orders accounting for 100 million of those. Despite recent strength in Chinese equity benchmarks led by financials, major tech companies including Alibaba and Meituan have seen sharp declines, falling below their April 7 lows. The bubble tea sector's growth highlights the competitive dynamics within China's food delivery and beverage markets, which also reflect broader challenges faced by international coffee brands like Starbucks in China.