#Laogao E-commerce Newsletter# [E-commerce Morning News on August 17]

      Morning News: Hillhouse Capital reduced its holdings in JD.com, Pinduoduo and Uber in the second quarter; Weidian affiliated companies established a new company in Shanghai, including Internet sales, etc.; cross-border logistics service platform Fanding International completed A+ round financing of hundreds of millions of yuan; shared office operator WeWorkQ2 lost US$888 million; Yunda Express launched a "big ticket speed delivery" to achieve immediate delivery...

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

E-commerce newsletter

1. Hillhouse Capital reduces its holdings in JD.com, Pinduoduo and Uber in the second quarter

      According to August 17, Hillhouse Capital recently released its second quarter 13F report, with a total market value of approximately US$9.714 billion, previously US$10.119 billion, with the top ten holdings accounting for 61.24%. Hillhouse Capital significantly reduced its holdings in Pinduoduo and JD.com in the second quarter, and its holdings in Pinduoduo fell to 9.02%, while increasing its holdings in Alibaba, NIO and Xiaopeng Motors. Judging from the specific data, Hillhouse Capital reduced its holdings of Pinduoduo ADR by 3.32 million in the second quarter, and reduced its holdings of Bontai Bio, Uber, Zoom, and JD.com ADR by 479,000; increased its holdings of Vipshop ADR by 8.49 million, Miniso ADR by 5.36 million, Monster Charging ADR by 4.08 million, Airbnb 2.11 million shares, Boss direct recruitment of 1.05 million, NIO ADR by 732,000, and Xiaopeng Motor ADR by 238,000. (E-commerce News)

2. Xiaomi affiliated companies set up new companies in Shanghai

      According to news on August 16, Tianyan Check information shows that today, Shanghai Xinqiao Gongjin Technology Co., Ltd. was established, with the legal representative being Zhang Mingqi, with a registered capital of 100,000 yuan, and its business scope includes agency accounting; graphic design and production; social and economic consulting services; conference and exhibition services; corporate image planning, etc. The company is 100% controlled by Xiaomi's affiliated company Shanghai Gongjin Network Technology Co., Ltd. (E-commerce News)

3. Weidian affiliated companies have established a new company in Shanghai, including Internet sales, etc.

      According to news on August 16, Tianyan Check information shows that on August 10, Haoxingqing Information Technology Co., Ltd. was established with a registered capital of 100,000 yuan. The legal representative is Fu Yingzhou. The business scope includes Internet sales of publications; performance brokers; art agency; entertainment exhibitions; Internet sales, etc. The equity penetration diagram shows that the company is 100% owned by Hangzhou Pocket Weidian Technology Co., Ltd., an affiliated company of Weidian. The suspected actual controller is Wang Ke, co-founder and CEO of Pocket Shopping. (E-commerce News)

4. Ctrip Business Travel: GMV growth of more than 150% in the first half of the year

      On August 16, it was learned from Ctrip Business Travel, a subsidiary of Ctrip Group, that Ctrip Business Travel achieved a growth of more than 150% from January to June this year. According to the financial report previously disclosed by Ctrip, in the first quarter of 2021, the company's travel management revenue was 252 million yuan, an increase of 101% over the same period in 2020 and a 6% increase compared with the same period in 2019. (E-commerce News)

Cross-border newsletter

5. Cross-border logistics service platform Fanding International completed A+ round financing of hundreds of millions of yuan

      On August 17, the cross-border logistics service platform Fanding International has recently completed a round of A+ financing of hundreds of millions of yuan. This round of financing was jointly led by China Merchants Capital, Zhongyuan Capital and Zhibao Venture Capital. Old shareholders Concept Capital, CITIC Capital, and Hongsheng Capital continue to invest additionally, and Index Capital serves as the exclusive financial advisor. This round of financing will be mainly used for the further upgrading of the group's cross-border logistics "transportation-warehouse-distribution" system, the optimization of the supply chain system and the creation of a global localized operation service center.

      Fanding International was founded in 2013 and owns four sub-brands: Fanjie International Express, Wending Overseas Warehouse, Yikefu Circulation Services, and Weikaishi Information Technology. Among them, Fanjie International Express focuses on imported express logistics and comprehensive logistics as its main business; Wending Overseas Warehouse focuses on "transport-warehouse-distribution" for export logistics; Yikefu is a cross-border supply chain circulation service provider, providing a one-stop complete set of solutions for brand overseas with product distribution as the core; Weikaishi Information Technology has built a cross-border e-commerce and warehousing and logistics ecosystem, providing digital services for warehousing, transportation, customs and tax refunds, import and export transactions and other information management.

      At present, the company's main business includes cross-border logistics import and export business, overseas warehouse warehousing and value-added services, FBA first-hand/transfer business and cross-border supply chain circulation services. Among them, cross-border supply chain circulation services include functional modules such as overseas procurement, distribution, e-commerce operation, and e-commerce training.

(Yibang Power News)

6. Cross-border Connect releases an announcement on abnormal fluctuations in stock trading

      On August 16, Cross-border Tongbao E-Commerce Co., Ltd. issued an announcement that the closing price of the company's stock has deviated by 12.19% in three consecutive trading days (August 12, 2021, August 13, 2021, and August 16, 2021). According to relevant regulations of the Shenzhen Stock Exchange, it is a situation of abnormal fluctuations in stock trading. (E-commerce News)

7. Wei Gao, a female senior executive in the Amazon grocery business, has resigned and has been working for Amazon for 16 years.

      According to reports on August 17, Amazon has reportedly confirmed that Wei Gao, the company's grocery business executive, will leave. Wei Gao is currently the vice president of Amazon’s technology, products and supply chain. Wei Gao's LinkedIn profile shows that she also served as the "shadow" consultant to Jeff Bezos, then CEO of Amazon from 2018 to 2020. Amazon said Wei Gao will officially resign on September 17, but did not disclose her specific whereabouts. Amazon's management has changed a lot recently. Last week, Amazon's cloud computing executive Charlie Bell was confirmed to leave. Amazon's global consumer business CEO Jeff Wilk also left earlier this year. (E-commerce News)

8. Shared office operator WeWorkQ2 lost $888 million

      On August 16, shared office operator WeWork released its second quarter financial report for 2021, with revenue of US$593 million in the second quarter, a slight decline of 1% from the first quarter; and the loss increased from US$863 million in the same period in 2020 to US$888 million. WeWork said that this was due to the spread of the Delta variant coronavirus, which hit the company's business operations in the first half of this year. As of the end of the second quarter, WeWork's number of members dropped to 517,000, compared with 612,000 in the same period in 2020. According to the company's preliminary calculations, the company's revenue in July was $215 million, and its third-quarter revenue was between $650 million and $700 million. (E-commerce News)

Internet Information

9. Yunda Express sells "big ticket fast pie" to make it available immediately

      According to August 17, Yunda Express recently announced that it will officially launch a new product - Dabao Supai. According to official introduction, Yunda Express’s “Da Ticket Quick Pai” product has been distributed nationwide, supporting 23 provinces, 5 autonomous regions and 4 municipalities directly under the central government. Yunda Express said that the product has the characteristics of lower price, faster timeliness and wider coverage. The order is to register the order in the delivery area, manually check "Big Ticket Quick Deal" to match the corresponding Quick Deal window. At the same time, in terms of delivery time, the product that arrives before 12 am can be delivered immediately. (Yibang Power News)

10. Convenience Bee’s coffee brand Bumihai plans to open 1,500 independent stores before the end of the year

      On August 17, "Sleepless Sea", a subsidiary of Convenience Bee, recently announced the upgrade of its brand logo, adding seahorse animal elements to the original "Sleepless Sea Sober Hi". Its development plan shows that the "Sleepless Sea" beverage station plan is based on Convenience Feng's "store-in-store model" and subsequent "independent store model", and will expand to 1,500 nationwide by the end of this year. (E-commerce News)