#Laogao E-commerce Newsletter# [E-commerce Morning News on April 23]

#Laogao E-commerce Newsletter# [E-commerce Morning News on April 23] Morning News : Tianhong Yu'ebao's scale dropped to less than one trillion yuan at the end of the first quarter; Pinduoduo: More than 400 million people were "pinning" books in 2020; China's Western Cross-border E-commerce Innovation and Entrepreneurship Competition was officially launched.

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E-commerce newsletter

1. Liangpinpuzi: revenue in the first quarter was 2.574 billion yuan, a year-on-year increase of 34.83%.

      On April 22, Liangpinpuzi released its first quarter report for 2021. During the reporting period, the company achieved operating income of 2.574 billion yuan, a year-on-year increase of 34.83%; net profit attributable to shareholders of listed companies was 102 million yuan, a year-on-year increase of 16.06%; net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses was 90.1816 million yuan, a year-on-year increase of 23.40%; basic earnings per share was 0.25 yuan. (E-commerce News)

2. Pinduoduo: More than 400 million people are "pinning" books in 2020

      According to news on April 23, data from Pinduoduo showed that in 2020, more than 400 million people purchased books through Pinduoduo, of which the number of book purchase orders from rural areas increased by more than 180% year-on-year. It is reported that on March 31, Pinduoduo officially launched the "Duoduo Reading Month" event, announcing the investment of 50 million yuan in reading funds, and jointly with more than 30 publishing houses and book publishing companies including CITIC Publishing House and Knowledge Publishing House to provide large-scale direct subsidies of more than 1,000 books in various categories such as social science, literature and art, and teaching aids. (E-commerce News)

3. Gaode Map: This year's May Day Golden Week may become the "most congested May Day in history"

      On April 22, Gaode Map and traffic management departments across the country jointly released the "2021 May Day Holiday Travel Forecast Report". Data shows that during this May Day Golden Week, the national highway congestion is expected to increase by more than 10% compared with the same period last year, and may become the "most congested May Day in history." Affected by the free access of highways and concentrated travel demand, it is expected that the peak of highway congestion will be held on May 1, 2021 (the first day of the holiday), and the overall congestion level of highways across the country will be at a relatively high level from May 2 to 4. May 5 (the last day of the holiday) will be the peak of highway return congestion, and the road conditions of the highway will return to normal on May 6. (E-commerce News)

4. Nelson IQ: The GMV of fast-moving consumer goods live e-commerce channel is expected to exceed 58 billion yuan in 2020

      According to April 22, before February this year, ByteDance's annual target for local life business is: the total transaction volume (GMV) of in-store group purchases will reach 20 billion yuan by the end of 2021. This data is slightly lower than one-tenth of Meituan's GMV in 2019. People familiar with the matter said that the 20 billion data will be adjusted in the future. Compared with the actual situation of this business, 20 billion yuan is a considerable or even an excessively high goal. As of March 2021, the GMV of Douyin's local life business that month was less than 40 million yuan. (Yibang Power)

Cross-border newsletter

5. Go overseas to the Middle East market, JD.com will make another move

      Recently, JD.com signed a cooperation agreement with UAE B2B e-commerce platform Tradeling. Tradeling will launch JD.com’s products to help millions of Chinese brands reach consumers in the Middle East and North Africa.

      At present, Tradeling has launched 1,667 JD products, including shoe cabinets, porch tables, office chairs, storage racks, mattresses, sofas and other large products, as well as makeup brushes, eyelash curlers, hair dryers, fascia guns, Bluetooth speakers, gaming mice, massagers and other small products.

      Through cooperation with Tradeling, JD.com has further deepened its Middle East market. Before this, the giant, who is easy to do in the domestic e-commerce market, has established a partnership with Dubai Emaar Malls and fashion e-commerce Namshi, and officially entered the Middle East e-commerce.

      Joining hands with three Middle East partners, JD.com’s role in it is more similar to the supply chain team and a bridge between brand merchants and the platform. This is somewhat similar to Suning on Tmall, but it has not set up a special flagship store. (E-commerce News)

6. The cross-border e-commerce innovation and entrepreneurship competition in western China officially started

      April 22nd news, on April 21, the 2021 China Western Cross-border E-commerce Innovation and Entrepreneurship Competition and the 2021 eBay National Cross-border E-commerce Innovation and Entrepreneurship Competition launch ceremony was held at Xihua University in Chengdu.

      Relevant data shows that since 2019, 546 schools in universities across the country have majors related to e-commerce. Among them, more than 80 universities have cross-border e-commerce majors.

      According to He Guobo, director of commercial director of eBay Greater China, according to incomplete statistics, the talent gap in China's cross-border e-commerce field will exceed 4.5 million in the next three years.

      According to Yao Zhengyi, Secretary-General of Chengdu Cross-border E-commerce Association, at present, there are more than 2,000 registered enterprises in Chengdu cross-border e-commerce, and the number and scale of enterprises are expanding rapidly, which will have a direct impact on the employment of students in college-related majors. At the same time, from the perspective of cross-border e-commerce segments, Sichuan should be targeted at Guangzhou, Shenzhen Greater Bay Area, Xiamen, Quanzhou, Fuzhou and other places.

      It is reported that for the requirements for this competition, all full-time college students who are officially admitted to the competition and who have graduated from June 2021 can register for the competition. Registration for the competition has officially started from April 8, and the start time is May 14. (E-commerce News)

7. Brazilian mobile payment company PicPay submits an IPO application to raise US$100 million

      April 22 news, it is reported that Brazilian mobile payment application company PicS (hereinafter referred to as PicPay) submitted an IPO application to the US SEC on Wednesday, planning to list on the New York Stock Exchange with the stock code "PICS", and plans to raise up to US$100 million. BTG Pactual, Bradesco BBI, Santander and Barclays are joint underwriters of the deal, and the company's issuance pricing terms and conditions have not been disclosed yet. (E-commerce News)

8. JD.com reaches cooperation with UAE B2B e-commerce platform Tradeling

      April 22 news, according to foreign media reports on Wednesday, JD.com and UAE B2B e-commerce platform Tradeling have signed a cooperation agreement, which will help Chinese brands enter the Middle East and North Africa markets and further promote the development of the local B2B e-commerce ecosystem. Through this cooperation, Tradeling will launch JD.com’s brands and products, allowing local consumers to access millions of Chinese brands. In addition, with the help of JD.com's logistics capabilities and warehousing foundation, Tradeling launched a limited-time service. Users can enjoy free shipping when purchasing any product from JD through the Tradeling platform. (Sina Technology)

Internet news

9. Didi Chuxing received US$1.6 billion in Pre-IPO financing

      On April 22, according to Reuters' media FIR, Didi Chuxing received US$1.6 billion in its latest round of Pre-IPO financing. Previously, media reported that Didi has recently submitted an initial public offering application to the US Securities and Exchange Commission, seeking to obtain a valuation of US$70-100 billion through a US public listing, and intends to be listed in the US as early as July. (E-commerce News)

10. Tianhong Yu'ebao's scale dropped to less than one trillion yuan at the end of the first quarter

      On April 22, the money market fund Tianhong Yu'ebao released its first quarter report, showing that the fund scale in the first quarter of 2021 decreased by 218.401 billion yuan compared with 1190.816 billion yuan at the end of 2020, reaching 972.415 billion yuan, the first time since the first quarter of 2017 has dropped to less than one trillion yuan. Tianhong Fund stated that the scale of Yu'ebao has declined and the change ratio is within a normal range and will not have an impact on the operation of the fund. (Yibang Power)