#Laogao E-commerce Newsletter# [E-commerce Evening News on March 15] Evening consultation

#Laogao E-commerce News# [E-commerce Evening News on March 15] Evening News : Baidu's latest margin trading temporarily recorded a 27.5-fold oversubscription of HK$39.99 billion; Taobao recruited the "Chief Carving Appraiser" to be responsible for promoting the "Million-Searching Carving" project; Zhu Cambridge: The hot spots of consumer complaints in 2020 are epidemic-related, online shopping and other aspects; Amazon launched its first renewable energy project in Singapore.

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E-commerce newsletter

1. China Auto Rental 2020 financial report: annual net loss of 4.16 billion yuan

     According to March 15, China Auto Rental today released its comprehensive annual results as of December 31, 2020. In 2020, China Auto Rental had a net loss of RMB 4.16 billion, and its adjusted net loss was RMB 1.63 billion. During the reporting period, the sales revenue of second-hand car in China Auto Rental was 2.131 billion yuan, compared with 2.132 billion yuan in the same period last year. In 2020, the company disposal 38,378 used cars, and the cost of used cars accounted for 103.7% of the second-hand car sales revenue. (E-commerce News)

2. Xingsheng Youxuan responds to the rumors of "accelerating IPO": There is no clear listing plan yet

     According to Beijing Business Daily, in response to the acceleration of Xingsheng Youxuan preparations for an IPO, a relevant person in charge of Xingsheng Youxuan said today that the company has no clear listing plan at the moment. It is understood that before, some media reported that Xingsheng Youxuan is accelerating its IPO pace and plans to go public at the end of the year to seize the first stock of fresh food e-commerce. In terms of financing, from 2018 to the end of 2020, Xingsheng Youxuan completed 6 rounds of financing of over US$1.7 billion. On December 11, 2020, it received US$700 million in strategic financing from JD.com. In February this year, some media reported that Xingsheng Youxuan will complete a Series D financing of US$3 billion, led by Sequoia Capital, followed by Tencent, Fangyuan Capital, Temasek, KKR, DCP, Chunhua Capital, Evergrande and others. (E-commerce News)

3. Baidu's latest margin trading temporary record of HK$39.99 billion oversubscription 27.5 times

      According to the Hong Kong Economic Daily, Baidu's current margin trading is temporarily recorded at HK$39.99 billion, with an oversubscription of 27.5 times, and Baidu's IPO period will be until March 17. According to Baidu's prospectus, Baidu plans to issue 95 million Class A common shares worldwide with the stock code "9888". The maximum public offering price of each Hong Kong offering shares will not exceed HK$295, and the maximum fundraising will be approximately HK$31.8 billion. Baidu officially launched global sales on March 12 and is scheduled to be listed on the Hong Kong Stock Exchange on March 23. (E-commerce News)

4. Taobao recruits "Chief Carving Appraisal Officer" to be responsible for promoting the "Million-Search Carving" project

      On March 15, Taobao’s official Weibo announced today that it would recruit a sand sculpture jury from the entire network and recruit a "chief sculpture appraiser" for 2.333k/month. Taobao said that since the launch of Taobao's "Million-Searching for Sculptures" campaign, there have been a steady stream of carving presenters, and the sand sculpture project team is facing overload. Now we are urgently recruiting one of the "Taobao Chief Sculpture Appraisal Officer" to lead the sand sculpture jury to select high-quality sand sculpture stories. The recruitment poster shows that the chief inspector’s monthly salary is 23,333 yuan, and he can work part-time. He prefers to use “hahahahaha” when chatting. Regarding the position, the Chief Carving Appraisal Officer is responsible for assisting in promoting the "Taobao Million Collection of Sand Sculpture Stories" project, organizing a jury, selecting netizens' sand sculpture stories, and being responsible for the funnyness of the selected works. (E-commerce News)

5. State Post Bureau: The postal delivery service volume reached 1.34 billion pieces in February

      According to the State Post Bureau on March 15, from January to February, the total amount of postal service business reached 42.69 billion yuan, a year-on-year increase of 8.5%; the total amount of postal delivery service business reached 4.06 billion pieces, a year-on-year decrease of 1.2%; the total amount of postal delivery service business income reached 6.55 billion yuan, a year-on-year decrease of 9.7%. In February, the total volume of postal service business reached 16.36 billion yuan, a year-on-year increase of 4.7%; the volume of postal delivery service business reached 1.34 billion pieces, a year-on-year decrease of 32.6%; the revenue of postal delivery service business reached 2.83 billion yuan, a year-on-year decrease of 16.2%. (E-commerce News)

Internet news

6. State Administration for Market Regulation: Live streaming complaints increased by 357.74% year-on-year in 2020

      On March 15, recently, the State Administration for Market Regulation issued a document introducing the acceptance of consumer complaints and reports by the national market supervision department in 2020, saying that complaints and reports about "live broadcast" grew rapidly last year. The 12315 platform of the country accepted a total of 25,500 "live broadcast" complaints and reports, recovering economic losses of 8.3553 million yuan for consumers, of which complaints about live broadcast goods increased by 357.74% year-on-year. According to the 47th "Statistical Report on the Development of China's Internet" released by the China Internet Information Center, as of December last year, my country's online shopping users reached 782 million, and 66.2% of live e-commerce users have purchased live products. (Yibang Power News)

7. Alibaba traded 1.28 million shares through bulk transactions and sold for HK$221.5 per share

      On March 15, Alibaba shares traded 1.28 million shares in Hong Kong, with a transaction price of HK$221.5 per share. It is reported that as of press time, Alibaba fell 2.83% to HK$219.6, with a market value of HK$4.75 trillion. (E-commerce News)

8. Zhu Cambridge: The hot spots of consumer complaints in 2020 are epidemic-related, online shopping, etc.

      According to CCTV News, Zhu Cambridge, Secretary-General of the China Consumers Association, said that a hot topic of consumer complaints last year was the epidemic-related complaints such as sanitation and epidemic prevention supplies, and their complaints increased rapidly; in addition, some more prominent problems include some issues of ticket refunds and subscription fees, as well as some traditional old problems such as prepaid consumption. Zhu Cambridge also said that last year, the trend of consumption shifting from offline to online was obvious, which also brought about an increase in online consumption disputes. Complaints about "big data kills old customers" and other issues are increasing, and the improper application of algorithm technology by Internet platforms has become the core of these problems. (E-commerce News)

Cross-border newsletter

9. Amazon launches its first renewable energy project in Singapore

      According to reports on March 15, Amazon announced that it would launch its first renewable energy project in Singapore. It is understood that Amazon announced at the end of last year that it would build 26 large-scale solar and wind power plants for utilities in Australia, France, Germany, Italy, South Africa, Sweden, the United Kingdom, and the United States, with a total of 127 new energy development plans. (E-commerce News)

10. AliExpress: The number of orders placed by Russians on the platform in winter exceeded 90 million

      On March 15, the news office of AliExpress Russia Company announced that within three months of winter (December 1, 2020 to February 28, 2021), the number of orders placed by Russians on AliExpress exceeded 90 million, which includes the number of domestic and international orders in Russia. Data shows that the most popular products among buyers are mobile phones and accessories, electronics, computers, office supplies, automobile supplies, and home and garden supplies. Among them, the most popular product is Xiaomi's smartphone. According to previous reports from Russian media, as of the end of 2020, the number of Russian sellers on AliExpress reached 35,000, and Russian sellers accounted for 25% of the platform's turnover, of which 80% were small and medium-sized enterprises, and the types of goods of Russian sellers reached 5.5 million. (E-commerce News)

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