#Laogao E-commerce Newsletter# [E-commerce Evening News on August 31]

E-commerce newsletter:

1. Pinduoduo Huang Zheng: Commercialization is not a short-term goal

On August 31, Pinduoduo founder and CEO Huang Zheng said at the financial report meeting: In fact, we have not been promoted to the top position of commercial monetization at present. At this stage, we are mainly committed to continuously improving brand awareness, establishing trust with users, and then steadily improving the quality of platform users. Regarding the commercial monetization process, commercialization is actually not our short-term goal, but on the other hand, we also hope to continuously create value for users and merchants. (E-commerce News)

2. Pinduoduo released its first financial report since its IPO in the United States: net losses expanded year-on-year

Sina Technology News, Beijing time, August 31, morning news, Pinduoduo (NASDAQ:PDD) today announced the company's second quarter financial report for fiscal year 2018 ended June 30. The report shows that Pinduoduo's total revenue in the second quarter was RMB 2.709 billion (approximately US$409.4 million), an increase of 2489% compared with the same period last year. Pinduoduo's net loss attributable to common shareholders in the second quarter was RMB 6.4939 billion (approximately US$981.4 million), an increase from the net loss of RMB 109.5 million in the same period last year. This is the first financial report released by Pinduoduo since its IPO (initial public offering). (Chuangyebang)

3. Suning.com's net profit in the first half of the year was RMB 6.003 billion, up 1959.41% year-on-year

Sina Technology News On the evening of August 30, Suning.com (002024.SZ) released its 2018 semi-annual report. In the first half of the year, Suning.com achieved operating income of 110.678 billion yuan, a year-on-year increase of 32.16%; and achieved net profit attributable to shareholders of listed companies of 6.003 billion yuan, an increase of 1959.41% over the same period last year. (Sina Technology)

4. Korean convenience store 7-Eleven tries to do unmanned retail

At the end of August this year, South Korea's 7-Eleven began testing a "express store", which is a new attempt to unmanned retail and unmanned cash registers. This 7-Eleven concept store consists of five vending machines, shaped like a express train. Currently, 7-Eleven Express is being tested in four stores, two of which are 7-Eleven headquarters in Seoul, one in Incheon and the other in Anyang Lotte Automobile headquarters in Gyeonggi Province. (Lianshang.com)

Internet Information

5. Huawei sues Samsung for infringement claims of 15 million

On August 31, the Guangzhou Intellectual Property Court held the first public trial of the infringement of invention patent rights dispute between Huawei Terminal Co., Ltd., Huizhou Samsung Electronics Co., Ltd. and Samsung (China) Investment Co., Ltd. The plaintiff Huawei Company asked the two defendants to immediately stop infringing on the plaintiff's patent rights involved in the case and claim 15 million yuan in compensation. (E-commerce News)

6. WeChat promotes "Campus One-Code Payment": One Card Travel All Over School

For college students who are about to start school, WeChat has launched the "Campus One Code Payment", and this function is still being gradually promoted. Through WeChat campus cards, the functions of various physical cards that were previously equipped with door cards, student cards, library cards, etc. were collected on an electronic card, and online services such as library seat occupation, classroom Q&A, and class communities were added that traditional physical cards do not have. Simply put, it is a WeChat campus card ≈ teacher and student identity information card + meal card + library card + access control card + payment card, etc. (Quick Technology)

7. LeTV's strong strength continued to rise 8% during the session, rebounding by 55% in 9 trading days

Following yesterday's daily limit, LeTV opened low and closed high today, close to midday, with a quotation of 3.10 yuan and a turnover of 660 million yuan, which is a trend of hitting the daily limit again. It is worth mentioning that compared with the lowest price of the stock on August 20, the stock has rebounded by more than 50% in 9 trading days. However, the stock has fallen by about 80% this year. (Tencent)

8. Sohu sued Meizu completely blocked its advertising case and opened trial: Meizu refused to mediate

The case of Sohu's lawsuit against Meizu completely blocking its advertisements was heard at 14 pm yesterday in the Haidian District People's Court of Beijing and broadcast it online on the China Court Network. At this time, it has been nearly 9 months since the Haidian Court accepted the case in December last year. At the beginning of the period, Sohu insisted on litigation requests, while Meizu also insisted on defense opinions. When the judge asked whether both parties would accept mediation, Sohu said that it could mediate, but Meizu did not agree to mediation. (Sina)

Cross-border e-commerce

9. Amazon Payment will acquire Indian payment company Tapzo

Amazon Pay will report to acquire Indian payment company Tapzo for $30 million to $40 million. The acquisition will further compete with e-commerce giants including Walmart, Flipkart, and eBay in India, a market with huge potential. (E-commerce News)

10. Amazon Nugget TV Advertising Market launches new video services

According to August 31, Amazon has stepped up its efforts to dig gold in the $70 billion TV advertising market. Amazon will launch a free video service for its 48 million Fire TV users, developed by Amazon's subsidiary IMDB, which makes a profit by placing advertising, according to people familiar with the matter. (36Kr)

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