This text examines the rapid growth and financial challenges of China's leading fresh grocery e-commerce platforms, specifically Dingdong Maicai and MissFresh. While the pandemic boosted demand for their ultra-fast delivery model powered by small local warehouses, both companies struggled with persistent losses following their American IPOs. The author contrasts their diverging business strategies, noting that while one focuses on premium service expansion, the other prioritizes technological efficiency and system licensing. Experts debate whether this "online-only" model is a sustainable industry or merely a transitional phase compared to integrated retail formats. Ultimately, the source questions if these firms can leverage big data to achieve profitability or if their high operational costs remain an insurmountable barrier.