#Laogao E-commerce Newsletter# [E-commerce Morning News on August 5]

      Morning news: News says that Chengxin Youxuan has moved its headquarters from Chengdu to Beijing and Hangzhou; Amazon drone delivery service Prime Air may close its UK business; Meituan applies to register the "Meituan Order Takeaway" trademark; Kuaishou e-commerce SKU has the fastest increase in home textiles, luxury goods and home decoration and home furnishings.

      Lao Gao provides everyone with the latest and most valuable Internet and e-commerce information every day.

E-commerce newsletter

1. News says that Orange Heart Youxuan has moved its headquarters from Chengdu to Beijing and Hangzhou

      At the same time, Orange Heart Youxuan has canceled the "wartime subsidy" for employees since August, which means that all employees are facing a salary cut. Previously, Orange Heart Preferred was to motivate employees and paid an additional 20% of their salary every month as a "wartime subsidy." The report also said that the business goals of Orange Heart Youxuan have also shifted from losing money to pursuing profitability. Many people from Orange Heart Selection revealed that making money is the core task of major regions in the next six months. Regions now require the list of regular gross profit products, and plan to expand investment promotion. (E-commerce News)

2. Xiaomi affiliated companies invest in Hanxin Microelectronics (Wuxi) Co., Ltd.

      According to news on August 4, Tianyan Check information shows that recently, Hanxin Microelectronics Co., Ltd. has undergone industrial and commercial changes, adding a new shareholder, Xiaomi's affiliated company, Hubei Xiaomi Yangtze River Industrial Fund Partnership. At the same time, the company's registered capital increased from about 2.8035 million yuan to about 3.1121 million yuan, an increase of about 11%. In March last year, Hubei Xiaomi Yangtze River Industrial Fund Partnership also invested in Hanxin Microelectronics (Shanghai) Co., Ltd., with a shareholding ratio of 9.92%. (E-commerce News)

3. Ant Group CFO Han Xinyi takes the helm of Tianhong Fund as chairman

      On August 4th, Tianhong Fund Management Co., Ltd. today issued an announcement on the change of senior management personnel. The announcement pointed out that Han Xinyi will serve as the company's chairman from August 2, 2021. Public information shows that from September 2011 to May 2014, Han Xinyi worked in the Corporate Financing Department of Alibaba Group Holdings Co., Ltd. In May 2014, Han Xinyi joined Ant Technology Group Co., Ltd. and is currently the chief financial officer of Ant Technology Group Co., Ltd. (E-commerce News)

4. Kuaishou e-commerce SKU has the fastest growth in home textiles, luxury goods and home decoration and home furnishings.

      On August 4, Kuaishou Big Data Research Institute released the "2021 Kuaishou Content Ecology Semi-annual Report", showing that with the entry of new brands, Kuaishou's electric goods category has expanded rapidly. The top three new SKUs in the first half of 2021 are home textiles, luxury goods and home decoration and home furnishings. (Yibang Power News)

Cross-border newsletter

5. Amazon drone delivery service Prime Air may close its UK business

      On August 4, Amazon is reportedly closing some of its drone delivery project Prime Air's business in the UK. With the adjustment, more than 100 employees have lost their jobs and dozens of employees have been relocated to other projects. It is reported that since 2013, Amazon has begun to promote the Prime Air project. Amazon said it has recently made organizational adjustments to its Prime Air business. Prime Air is currently shifting from the R&D stage to the operation stage. Amazon is still working hard to achieve its goal of delivering to customers through drones within 30 minutes. (E-commerce News)

6. Rapyd, a British e-commerce transaction payment service provider, received US$300 million in E financing

      On August 4, British financial technology platform Rapyd recently announced that it had completed a US$300 million Series E financing. The round was led by Target Global. Other investors include Fidelity Management and Research Company, Altimeter Capital, Whale Rock Capital, BlackRock Funds and Dragoneer. According to information, Rapyd was established in 2016. As an e-commerce transaction payment service provider, it mainly provides local or cross-border payment solutions for online e-commerce platforms. (E-commerce News)

7. Amazon will launch new sales channels to help sellers clear up their inventory

      According to WirtschaftsWoche, Amazon will launch new transportation and sales solutions to help sellers on the platform sell backlogs and reduce storage costs. Currently, Amazon third-party sellers can provide their backlog of inventory to other Amazon sellers of the same model. According to reports, in the future, third-party sellers can sell returned and slightly damaged items at low prices through Amazon warehouses, but Amazon currently only allows private brand products to use this channel. To do this, Amazon will inspect the seller's return and damaged products in the warehouse and divide them into "second-hand-like new" and "second-hand-acceptable" according to their condition. (E-commerce News)

8. Russian e-commerce Wildberries held a return-to-school season promotion to increase orders by 338% on the first day

      On August 4, Russian e-commerce Wildberries held a return-to-school product promotion on August 2, with children's product orders increasing by 338% on the first day of the promotion. Wildberries said that on August 2, Russian parents purchased large quantities of clothes, shoes and toys for school-age children, and orders in these categories accounted for more than 85% of all children's goods orders that day. Public information shows that Wildberries was founded in 2004 and is headquartered in Moscow. It is a domestic online sales platform for shoes, clothing and accessories in Russia. In 2019, Wildberries ranked fourth in the market value ranking of Russian Internet companies, with a valuation of US$1.2 billion. (E-commerce News)

Internet Information

9. Meituan applies for registration of the "Meituan Order Takeover" trademark

      On August 4, Tianyan Check information showed that Tianyan Check information showed that recently Meituan's affiliated company Beijing Sankuai Technology Co., Ltd. added a new trademark registration application. The company applied for registration of multiple "Meituan Order Takeover" trademarks. The international classification involves scientific instruments, website services, and advertising sales. The current status is all under application. (E-commerce News)

10. Hangzhou Hema Network Technology Co., Ltd. has added takeaway delivery services, etc.

      According to news on August 4, Tianyan Check information shows that recently, Hangzhou Hema Network Technology Co., Ltd. has undergone industrial and commercial changes, and the company's business scope has added food sales; food Internet sales; takeaway delivery services; daily life services for residents; daily necessities rental, etc. Hangzhou Hema Network Technology Co., Ltd. was established in 2018. The legal representative is Shang Dachun, with a registered capital of US$50 million. The equity penetration diagram shows that the company is wholly owned by Hema (Hong Kong) Co., Ltd. (E-commerce News)