Tīngshuō duìshǒu shīwù, tā liǎn shàng lù chū lúcíxiào.
Hearing his rival had slipped up, a sly, self-satisfied smile crossed his face.
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A 鸬鹚 is a cormorant, a fishing bird that snatches fish from the water. The image is of that greedy, triumphant look after a catch, so the laugh carries a gloating, predatory quality.