#Laogao E-commerce Newsletter #June 6 E-commerce Morning News

　　#Laogao E-commerce Newsletter# [E-commerce Morning News on June 6] Alibaba's annual revenue in fiscal 2019 increased by 51% year-on-year; Pinduoduo's 618 order volume exceeded 300 million, nearly 70% came from the sinking market; JD Vice President Lin Chen: Omni-channel is the most important business layout of JD retail this year; Chenguang Stationery changed its business scope and increased its cosmetics business; "2019 China Private Wealth Report": China's high net worth population reached 1.97 million in 2018...

　　E-commerce newsletter

　　1. Alibaba's annual revenue in fiscal 2019 increased by 51% year-on-year

　　On June 6, Alibaba submitted its Form-20 annual report to the US Securities Act (SEC). This annual report shows that Alibaba Group's revenue for the whole fiscal year of 2019 (Alibaba's fiscal year starts from April 1 each year to end on March 31 of the following year) was 376.844 billion yuan, a year-on-year increase of 51%; net profit was 80.234 billion yuan, an increase from last year's 61.412 billion yuan. (E-commerce News)

　　2. Pinduoduo 618 orders exceeded 300 million, nearly 70% came from the sinking market

　　Pinduoduo today announced the phased data of the 618 "10 billion subsidy" promotion: As of 11:00 a.m. on June 5, the platform's physical commodity order transaction volume has exceeded 300 million, of which nearly 70% come from third-tier and below cities. Since the launch of the promotion, the number of users with accumulated orders exceeding 5 has reached 12 million. (Chuangyebang)

　　3. JD Vice President Lin Chen: Omni-channel is the most important business layout of JD Retail this year

　　According to June 5, the current technology in the retail industry is constantly improving, and consumption scenarios are becoming more and more diversified and fragmented. Lin Chen, vice president of JD Group and head of the Platform Ecology Department and Borderless Retail Empowerment Department of JD Retail Group, believes that retail platforms and brands need to adapt to or even lead this trend. Laying out omni-channel with partners and reaching consumers through various scenarios is a major feature of JD.com, and it is also JD.com’s most important strategic layout this year. (E-commerce News)

　　4. Chenguang Stationery changes its business scope and increases its cosmetics business

　　On June 4, Shanghai Chenguang Stationery Co., Ltd. (hereinafter referred to as "Chenguang Stationery") issued an announcement stating that it would revise the company's articles of association and change its business scope. Chenguang Stationery said that due to business expansion and sales channel construction, it plans to add several new content based on the existing business scope, including cosmetics wholesale and retail. (Europe)

　　5. Ele.me announced that Hummingbird’s brand will be independent, and will build a 20,000-digital site in the next three years.

　　On June 5, Ele.me announced that its instant logistics platform Hummingbird brand was independent and upgraded its brand name Hummingbird Instant Package. Wang Lei, partner of Alibaba Group and president of Alibaba Local Life Services, said, "This marks the beginning of a new round of changes in the local instant delivery industry." (Sina Finance)

　　Internet Information

　　6. "2019 China Private Wealth Report": China's high net worth population reached 1.97 million in 2018

　　The "2019 China Private Wealth Report" jointly released by Bain Company and China Merchants Bank shows that in 2018, the overall scale of investable assets held by individuals in China reached 190 trillion yuan, with an average compound growth rate of 7% from 2016 to 2018, and is expected to exceed the 200 trillion mark by the end of 2019. At the end of 2018, the number of high-net-worth individuals (personal investment assets of more than RMB 10 million) in China reached 1.97 million, an increase of about 400,000 compared with 2016. (36Kr)

　　7. Baidu responds to Vice President Zheng Zibin's resignation: Confirm

　　百度公司副总裁郑子斌将于近日离职。对此，百度方面回应称：确认。2019年2月，百度集团发布内部邮件，宣布对三位副总裁沈抖、吴海锋、郑子斌进行干部轮岗调整。郑子斌全面负责以CRM为基础的创新业务，与沈抖、吴海锋继续向搜索公司总裁向海龙汇报。目前，向海龙已离职。（新浪科技）

　　8. Tencent’s large-scale travel business is divested into an independent secondary department and is affiliated to the CSIG business group

　　The latest news shows that Tencent has issued an internal document to divest the vast number of businesses related to large travel into an independent department. The department head is Zhong Xuedan, the former vice president of Tencent Automobile Federation. The department is affiliated to the newly established Cloud and Smart Industry Business Group (CSIG) in November 2018. In terms of organizational structure, the new travel business department has not reached the business group system of Tencent's first-level department, which is different from the organizational structure of the first-level department established by Huawei on May 29, the Smart Car Solution BU. (Che Zhi)

　　9. JD.com 618 big data: Meat rice dumplings are the best-selling, and the sales of salty rice dumplings are 3.6 times that of sweet rice dumplings

　　JD Big Data shows that during the 618th period, meat dumplings were the best-selling during the Dragon Boat Festival, and the sales of salt dumplings were 3.6 times that of sweet dumplings. The sales of new flavors such as ice rice dumplings, tea rice dumplings, crystal rice dumplings, crayfish rice dumplings, sausage rice dumplings, and snail rice dumplings, etc., mainly fruit fillings have increased significantly. Judging from the taste preferences of all parts of the country, consumers in Jiangxi, Zhejiang, Chongqing, Anhui, Guizhou and other places like to eat salty rice dumplings more, while consumers in Shaanxi, Liaoning, Shanxi, Tianjin, Heilongjiang and other places buy sweet rice dumplings more, while consumers in Tianjin, Beijing, Guangdong, Shandong, Jilin and other places buy new flavor rice dumplings more. (36Kr)

　　Cross-border e-commerce

　　10. Alibaba and Russian Direct Investment Fund and other joint ventures have launched Russian social e-commerce products

　　On June 5, Alibaba Group and Russia's sovereign wealth fund direct investment fund, Russia's largest social and IT group Mail.ru, and Russian integrated telecom operator MegaFon announced the establishment of a new joint venture AliExpress Russia. Multiple parties will integrate resources to create a leading social e-commerce platform in Russia and the CIS countries. (36Kr)

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