Yu Minhong: Price wars never lead to long-term success

Yu Minhong's stance signals a broader strategic pivot among legacy industry leaders, prioritizing differentiation over cost competition. This matters for sectors facing commoditization, as it challenges the assumption that market share is won primarily through aggressive pricing. The observation is notable because it comes from a veteran operator, not a startup, suggesting a maturity phase where brand and quality moats are valued over short-term volume gains. What is worth watching is whether this rhetoric translates into concrete market behavior—specifically, if peers in the consumer and education spaces shift away from discount-led growth, or if this remains an isolated viewpoint amid persistent deflationary pressures.