#Laogao E-commerce Newsletter# [July 7 E-commerce Morning News]

      Morning information : Multiple departments: Standardize the development of the second-hand commodity market and encourage the development of the "Internet + second-hand" model; JD.com's strategic investment has replaced its person in charge for the third time in three years; Viya's affiliated company withdrew from the ranks of investors of Hainan Qianxing E-commerce Co., Ltd.; 30 fresh food e-commerce companies in Dingdong Maicai have joined Ele.me's "New Service Partner Program"......

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E-commerce newsletter

1. Hu Chunhua: Support the sustainable and healthy development of rural e-commerce and solve the problem of online shopping express delivery

      According to Xinhua News Agency, a national rural commercial construction work site meeting was held in Haicheng City, Liaoning Province recently. Hu Chunhua, member of the Political Bureau of the CPC Central Committee and Vice Premier of the State Council, attended the meeting and delivered a speech. Hu Chunhua pointed out that we must support the sustainable and healthy development of rural e-commerce, solve the problem of online shopping express delivery, and accelerate the improvement of the quality and standards of e-commerce products. We must place rural food safety in a more important position, crack down on all kinds of infringement and counterfeiting, ensure the safety of rural commercial business premises, continue to strengthen the supervision of agricultural input market, and promote a major improvement in the county consumption environment.

2. It is said that 30 fresh food e-commerce companies in Dingdong Maicai have joined Ele.me's "New Service Partner Program"

      According to 36Kr, 30 fresh food e-commerce brands including Dingdong Maicai and Qian Dama have joined Ele.me's "New Service Partner Program". Data shows that the coverage rate of the top fresh food merchants in Ele.me grocery shopping channel nationwide exceeded 90%, and the number of online stores of Qian's aunt on the Ele.me platform has exceeded 1,000. It is reported that Ele.me officially launched the "New Service Partner Program" on June 29, and will continue to increase its resource investment in the grocery shopping channel in the future.

3. Viya's affiliated company withdraws from the investor ranks of Hainan Qianxing E-commerce Co., Ltd.

      According to news on July 7, Tianyan Check information shows that recently, Hainan Qianxing E-Commerce Co., Ltd. underwent industrial and commercial changes, and Weiya's affiliated company Hangzhou Qiandao E-Commerce Co., Ltd. withdrew from the ranks of investors and added Xu Xiangcai. According to information, Hainan Qianxing E-Commerce Co., Ltd. was established in April 2021 with the legal representative Xu Xiangcai with a registered capital of RMB 1 million. Shareholder information shows that the company is now jointly held by Xu Xiangcai and Hainan Yongheng Star Dragon Entertainment Group Co., Ltd., with shareholding ratios of 60% and 40% respectively. It is worth mentioning that Hainan Yongheng Star Dragon Entertainment Group Co., Ltd. is held by Huang Zitao 99%.

4. Multiple departments: Standardize the development of the second-hand commodity market and encourage the development of the "Internet + second-hand" model

      On July 7, the National Development and Reform Commission and other departments issued notices on the "14th Five-Year Plan" circular economy development plan, which proposed to standardize the development of the second-hand commodity market. Improve the regulations on the circulation of second-hand goods, establish and improve standards for the identification, evaluation, and grading of second-hand goods such as vehicles, home appliances, and mobile phones, and standardize the circulation order and trading behavior of second-hand goods. Encourage the development of the "Internet + second-hand" model, strengthen the management responsibilities of Internet trading platforms, strengthen the supervision of trading behaviors, provide standardized and standardized services for second-hand commodity trading, and encourage platform companies to introduce third-party second-hand commodity professional merchants to improve the efficiency of second-hand commodity trading. Promote the standardized construction and operation of offline physical second-hand markets, and encourage the construction of centralized and standardized "flea markets", etc.

Cross-border newsletter

5. KK Group, a cross-border retailer in all categories, completed US$300 million in F round financing

      On July 6, KK Group, a cross-border retailer in all categories, completed a US$300 million Series F financing, with the investor being JD.com (led investment). It is understood that KK Group, as a chain selected brand in China that focuses on imported products, advocates a world-wide lifestyle. Through a complete and controllable supply chain, high-quality products are selected from the world, and the main model of direct procurement from the source is brought to consumers with a more cost-effective consumption texture under the monitoring of customs and national inspections. The categories sold include imported beauty, global snacks, overseas stationery, trendy jewelry, good home furnishings and practical daily necessities. The online and offline channels cover every area of ​​daily life, which has resonated with many consumers "buy imports and choose KK". According to incomplete statistics, there were 5 financings in e-commerce in the field of KK Group this year. (Yibang Power)

6. AliExpress's third overseas offline store has settled in Barcelona, ​​Spain

      July 6th news, on the morning of July 3rd local time, AliExpress's third overseas offline store officially landed at the Gran Vía 2 shopping center in Barcelona, ​​Spain. According to reports, the store's products cover consumer electronics, mobile phones, TVs, computers and household goods, including brand products such as Xiaomi, Lenovo, Apple, and Microsoft. It is worth mentioning that AliExpress is the largest cross-border retail e-commerce platform in China under Alibaba, and Spain is one of the important markets of AliExpress. In the last fiscal year, AliExpress's total sales in the Spanish market increased by nearly three digits year-on-year.

7. North American large-size DTC brand Torrid (CURV.N) was listed on the New York Stock Exchange on July 1

      According to July 7, North American large-size DTC brand Torrid (CURV.N) was listed on the New York Stock Exchange on July 1. The stock opened at US$21 on the first day of listing and closed at US$24, 14% higher than the issue price. The company issued 11 million shares, raised $230 million and had a market capitalization of about $2.3 billion. Sycamore Partners Management, Torrid's largest shareholder, will retain about 77% of the voting rights, down from 84.7% before listing.

      Founded in 2001, Torrid offers tailored, stylish-looking clothing for plus-size women. Sycamore acquired Torrid’s parent company Hot Topic Inc. for $600 million in 2013. Torrid was divested from the parent company in 2015 to become an independent company, but it continues to share backend services with Hot Topic, including information technology, distribution and logistics management.

8. JD.com Indonesia will add a fourth physical store

      According to July 6, it is reported that JD Indonesia will open its fourth physical store in Jakarta, Indonesia at the end of July, and all physical stores under the platform will adopt self-service and cashless transactions. Local customers can collect their online orders in physical stores and pay for purchases through JD Indonesia’s mobile app. In addition to offline retail stores, JD Indonesia also launched a nearby store feature last year.

Internet Information

9. WeChat Pay’s new mini program covers more than 50,000 brand stores

      On July 6, WeChat payment service provider today issued a statement saying that in order to meet the elders' needs for ordering online, WeChat Pay has launched the "big characters, big picture care mode" for ordering food, and users with WeChat font size 5 or above will automatically switch to this mode. At the same time, the ordering interface simplifies the food information, highlights the meal specifications and adds and deletes the meal buttons, and enlarges the shopping cart entrance through a strong contrast of the color sections. At present, some service providers in the catering industry have entered the "big characters, big picture care model", and are expected to cover more than 50,000 service brand stores.

10. JD.com's strategic investment changed its person in charge for the third time in three years

      On July 6, the head of JD Group's strategic investment department changed around May 2021. Hugo took over. Jason, the former head and vice president of JD Group, remains in the strategic investment department, responsible for the research of major projects and important industries, and reports to Hu Zhengwei, and Hu Zhengwei reported to the group's chief financial officer, Sandy. This is the third time that JD.com has changed its head of the strategic investment department in the past three years.