Water and Flames

WAF CH47

The following afternoon, Fanhai and Qinghui issued announcements simultaneously, causing an immediate media frenzy across the entire Chinese internet.

[Xinhua News]: A Historic Handshake! Fanhai and Qinghui Open Their Ecosystems to Each Other!

[Sina Tech]: Tech]:Historic Reconciliation Between Fanhai and Qinghui! After More Than a Decade of Rivalry, Jing Hong and Zhou Chang Turn Enemies into Friends with a Smile!

Sina Tech reported:

“Today, Fanhai and Qinghui released a joint announcement stating that they will mutually open their respective ecosystems, having reached an agreement on relaxing cross-platform link restrictions. Fanhai Group now permits links to Qinghui video content within group chats on several of its social messaging apps, with plans to offer an opt-in toggle for individual chat pages in future updates. Concurrently, Fanhai’s game top-up system has added Qinghui’s payment gateway. On Qinghui’s side, several video platforms now feature pinned promotional links for Fanhai content, with further integration steps planned for both conglomerates…”

The article went on to chronicle their long-standing confrontation:

“On December 31, 2008, Qinghui Group officially blocked links to Fanhai products, and Fanhai reciprocated shortly after, creating two isolated closed-loop ecosystems. Since then, the two tech titans built high walls, carved out territories, and waged an ongoing war for traffic, leaving smaller startups struggling to survive in the cracks… We believe a more open ecosystem will unlock vastly greater commercial opportunities…”

Several industry outlets speculated on the underlying drivers:

“In the past, major traffic platforms used link-blocking tactics to suppress competitors—sometimes even as a predatory tactic—warping market order, creating data silos, and restricting new enterprises’ operational freedom and user reach… In light of these concerns, the Ministry of Industry and Information Technology (MIIT) is actively pursuing regulatory cleanup. It is reported that MIIT will launch a 100-day campaign to standardize industry practices, identifying link-blocking as an anti-competitive behavior that harms user experience, infringes on consumer rights, and disrupts market order. MIIT is expected to host an administrative guidance session requiring internet giants like Fanhai and Qinghui to rectify these issues, address long-standing industry friction, and return to open market fundamentals.”

Jing Hong was well aware that this regulatory shift was inevitable, making ecosystem integration an unavoidable trend. The four-character phrase he had sent Zhou Chang over text during their initial exchange was simply “Open the ecosystems.”

Yet Jing Hong understood that while the move was bound to happen eventually, agreeing to implement it at this precise moment served as a vital lifeline for Fanhai.

Financial bloggers quickly broke down the strategic pros and cons:

“This shift may appear straightforward on the surface, but it alters fundamental dynamics across the entire internet landscape.

First, for Qinghui, the upside outweighs the downside. Acquiring users via Fanhai’s social platforms previously required a convoluted multi-step process, whereas now user acquisition costs will drop significantly.

Second, for Fanhai, the benefits similarly outweigh the drawbacks. Its gaming and entertainment divisions gain access to much broader marketing channels.

However, Fanhai faces slightly higher risks than Qinghui. For instance, the move will inevitably impact Fanhai’s live-streaming operations and creator network, coming right after Fanhai announced an exclusive traffic-sharing deal with…”

The news sparked widespread discussion across social media:

[Omega & Juliet]: Holy crap!

[The Most Reasonable Person]: This news genuinely deserves a “holy crap!”

[Account Suspended for Gender Stoking]: What does this mean in plain English? Explain it to me like I’m five.

[Slacking Today, Tomorrow, and the Day After]: Opening ecosystems NOW? Right now??? Isn’t this explicitly saving Fanhai…

[Don’t Beat the Client]: Have you ever fought with your life for your arch-rival? Qinghui: “As a matter of fact, yes!”

[I Invested in This Project]: Fanhai and Qinghui are competing in a very new way.

[Principal of Lanxiang]: Is any fanfiction writer working on an anthropomorphic version of this? Fanhai and Qinghui are a low-key shipworthy…

[Jiangsu Science Top Scorer]: Scorer]:Reply @Principal of Lanxiang: Why not just ship Zhou Chang and Jing Hong directly?

[Jinjiang Anti-Vice Squad Leader]: Reply @Jiangsu Science Top Scorer: Jing Hong: “Yes, we have a child together.”

[Jiangsu Science Top Scorer]: Scorer]:Reply @Jinjiang Anti-Vice Squad Leader Jing Hong: “Yes, we’re already expecting our second.”

[Only Eating, No Working]: Reply @Jinjiang Anti-Vice Squad Leader: I give this marriage my full blessing!

[Impotence Anxiety]: I don’t understand high finance, but I sure understand romance dramas!!!

[Green Fund Green Me]: I must be losing my mind, shipping real-life CEO CP on Weibo.

[Dropped Ice Cream Scoop]: I’m turning 40 soon, my job is going nowhere, my boss yells at me daily, my kids don’t listen, and my life is tough. Can Jing Hong and Zhou Chang please give us more news like this to make life interesting?

[Manager Don’t Rush Me]: Reply @Dropped Ice Cream Scoop: You better actually be 40 [smile].

[My Proud JJ]: Wait, why is everyone assuming Zhou Chang is the top?

[Pinching Handsome Guys]: Reply @My Proud JJ: You haven’t read enough web novels. Zhou Chang screams absolute dominant top energy! He fits right into those classic tropes!

[My Proud JJ]: Reply @Pinching Handsome Guys: Ah, is that so? Going to study up on those novels right away.

[Pinching Handsome Guys]: Reply @My Proud JJ: Work hard.

[Wind Over the Sea]: Stunned by this comment section… you guys are incredible…

[Esports Windstorm]: Reporting in! Just tried it out! Fanhai mobile games now support Qinghui Payment! Just successfully topped up 0.1 RMB!

[Trending Novel Recs]: Yeah, my dad never knew how to copy-paste video IDs from chat before. I just sent him over twenty comedy clips at once…

[User87654321]: Reply @Trending Novel Recs: Drop the comedy clips link.

[She Married a Disabled CEO Who Was Feigning It]: Wait, the announcement was just made a moment ago, how are you guys testing all this already?

At 5:30 PM Beijing time, Nasdaq opened on the other side of the Pacific.

Driven by the joint ecosystem announcement, Fanhai’s stock price surged, while Qinghui’s stock saw a solid bump as well. Conversely, the news pressured other tech competitors, including Weilai, whose stock dropped 5.1%. Since Weilai operated its own video platform and had not been blocked by Fanhai, Fanhai’s integration with Qinghui directly undercut Weilai’s competitive positioning.

Fanhai Group’s consecutive days of market decline came to a firm halt.

Jing Hong sent a message to Zhou Chang: Thanks.

No need for thanks, Zhou Chang replied. It’s a mutually beneficial deal.

No, Jing Hong insisted. Opening the ecosystem at this juncture directly helped Fanhai.

Zhou Chang didn’t reply immediately, but moments later sent an address along with a message: Dinner tonight?

Jing Hong was hardly thick-skinned enough to refuse a dinner invitation right after thanking the man. He agreed: Sure. What time?

Zhou Chang asked: 7:30 PM?

Jing Hong replied: Sounds good.

For Jing Hong, dinner anywhere between 5:00 PM and midnight was considered a normal timeframe.

The venue was once again a private dining studio, its doors closed to the public. As the two sat across from each other at the table, Zhou Chang asked, “What tea would you like?”

“Forget tea,” Jing Hong said. “You might not want to sleep tonight, Mr. Zhou, but I’d like to get some rest.”

Zhou Chang gave a subtle laugh, scanning the menu: “Jasmine tea, then.”

Jing Hong nodded in agreement.

As dishes were served, conversation naturally turned to Fanhai’s market performance. Zhou Chang remarked, “Fanhai’s stock rebounded significantly. Though it hasn’t fully recovered to its prior peak, it’s only about 8% off now.”

“Thank you for that,” Jing Hong said, taking a bite of beef. “Whether it fully hits the previous benchmark right away doesn’t bother me. Fanhai’s core operations are solid—excellent, even. Fundamental facts can’t be obscured by market noise for long.”

Zhou Chang noted: “You seem remarkably unfazed, Mr. Jing.”

“It’s mostly that I find certain people,” Jing Hong picked up a white porcelain spoon to scoop some soup, “downright petty.”

Zhou Chang knew he was referring to Weilai’s CEO, Li Zhiyong, and likely Jing Tianping as well. He let out a soft laugh: “Their focus isn’t on doing legitimate business.”

Jing Hong agreed: “Indeed.”

When Fanhai was shorted, the timing coincided with the routine SEC inquiry. Media outlets aligned with Weilai had seized on the story, distorting a standard inquiry into headline coverage about an “SEC investigation” to drive down Fanhai’s stock price further. To compound matters, Weilai had modified its content amortization model to place additional accounting pressure on Fanhai. Meanwhile, Jing Tianping chose that exact moment of shareholder anxiety to force a decision on Tianping Supermarket, attempting to leverage board pressure to keep funding his son’s live-streaming platform.

Zhou Chang dipped his spoon into the soup bowl, scooping up a meatball. Recalling that Jing Hong had scooped several of those meatballs earlier and seemed to enjoy them, Zhou Chang casually tipped his wrist, letting the meatball drop back into the communal bowl before transferring the remaining broth into his own dish. The gesture was completely natural as he added, “Kicking someone while they’re down is Li Zhiyong’s specialty.”

Jing Hong’s gaze drifted from the spoon up to Zhou Chang’s face, pausing for a few seconds before responding softly, “Yeah.”

“I also heard a few days ago,” Zhou Chang continued, “that Weilai’s performance has been so poor—and its browser usage so diminished—that Li Zhiyong shaved his head at a company-wide town hall to signal a fresh start, declaring he would lead Weilai back to glory.”

“…” Jing Hong remained silent for a moment, staring down at his chopsticks in quiet thought.

Just as Zhou Chang assumed Jing Hong was analyzing market dynamics, Jing Hong looked up, eyeing Zhou Chang with genuine confusion: “…Does he even have hair to shave?”

Zhou Chang, mid-sip, nearly lost his composure, holding back a laugh with a slight curve of his lips: “You were reflecting so intently just now… over that?”

Jing Hong nodded solemnly.

“If I recall correctly,” Zhou Chang mused, “he doesn’t.”

“…” Jing Hong unlocked his phone, leaning over slightly to search online. Holding his chopsticks in one hand, he typed out the name with his index finger. The awkward posture made him type slowly, while Zhou Chang silently watched his expression and movements.

The search results loaded. Jing Hong tapped on the images tab, scrolling through photos with his slender fingers before declaring with certainty: “Indeed, he doesn’t.”

“Alright then,” Zhou Chang smiled. “Our young Mr. Jing has officially certified it: ‘Li Zhiyong is bald’ and ‘Li Zhiyong’s public shaving was a sham.’ We can announce it globally in English: Weilai CEO Li Zhiyong, ‘Confirmed Baldy’.”

Jing Hong broke into a genuine laugh.

Unaccountably, trading petty remarks about industry peers with the head of Qinghui—his long-time rival—felt surprisingly comfortable. The same was true for any other topic of conversation.

There was no need to maintain a polished executive facade or play the corporate leader.

In conversation, they met as absolute equals—a rare, relaxed dynamic. Jing Hong almost never experienced fully balanced, unreserved dialogue with anyone, except when speaking with Zhou Chang.

Their topics seemed to deepen incrementally—shifting from personal experiences and family to shared industry acquaintances.

As they continued chatting casually, Zhou Chang brought up another detail: “I heard that at Fanhai’s executive meeting the other day, you arrived a dozen minutes late, only to walk in and find ten senior executives locked in a 5v5 match of Expedition?”

“Yeah,” Jing Hong smiled faintly. “Expedition plays a critical role in Fanhai’s current revenue structure, so everyone knows how to play to some degree. I expected to be delayed by half an hour, and someone suggested starting a quick game while waiting—the AI division against the social media tools team.”

Zhou Chang asked: “Do you play as well?”

“I know how, but I’m not particularly good at it—I lack the time,” Jing Hong asked in return. “How about you, Mr. Zhou?”

“Same here.”

Toward the end of the meal, Zhou Chang’s phone buzzed on the table.

It was a text from Zhou Buqun.

Zhou Chang brought the phone beneath the table to check it. Unsurprisingly, it was another push regarding marriage:

[Zhou Buqun]:Zhou Qingyuan said you seem to be seeing someone??? Who is it??? What do they do??? What do they look like???

Knowing his cousin’s gossipy nature, Zhou Chang felt an impulse to tease him, typing back casually: Works in tech. Senior executive in the industry.

[Zhou Buqun]:??? How old are they???

Zhou Chang replied: Same age as me.

[Zhou Buqun]:Already an executive at that age??? Really??? What do they look like???

Zhou Chang glanced up at Jing Hong across the table, searched “Jing Hong” in his browser, selected a high-quality magazine portrait, ran it through a gender-swapping AI app, and forwarded the generated image to Zhou Buqun.

Zhou Buqun studied it for a long time before offering a single comment: …Looks intense.

Zhou Chang let out a quiet laugh and placed his phone face down on the table. Jing Hong raised an eyebrow: “…?”

“My father,” Zhou Chang explained simply.

Jing Hong nodded.

As the evening breeze grew cool and the hour late, Jing Hong checked his watch and said, “It’s getting late. Let’s head out—this meal is on me.”

“Fair enough,” Zhou Chang replied. As he spoke, he picked up a pair of unused chopsticks, stirring through the soup bowl once more. He managed to lift out the final meatball, bringing it right up to Jing Hong’s lips: “You seemed to want this earlier, Mr. Jing?” He had noticed Jing Hong trying to scoop one out earlier without success.

Jing Hong: “…”

“It’s the last one,” Zhou Chang said softly. “Open up?”

Jing Hong looked at the meatball, remaining still.

Feeding someone across a table was far too intimate.

The two remained in a brief deadlock.

Zhou Chang gave a low smile, pushing the chopsticks slightly closer until the meatball lightly touched Jing Hong’s lips. He lightly brushed it across the seam of Jing Hong’s lips, tracing a faint mark from one corner to the other, pausing briefly before returning to the center. “Open up?”

A faint trace of broth lingered on Jing Hong’s lips.

“…” Jing Hong finally parted his lips, bit down on the meatball, and ate it.

Once he swallowed, Zhou Chang handed him a cloth napkin, remarking casually: “My arm was getting tired. Waiting on people is certainly hard work.”

“Reversing cause and effect,” Jing Hong noted dryly. “Nobody asked you to do that, Mr. Zhou.”

“Yes, yes, I brought it on myself,” Zhou Chang set down his chopsticks with composed mock seriousness. “Though the food here is genuinely quite good.”

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