#Laogao E-commerce Newsletter# [E-commerce Morning News on August 25]

      Morning news: Chinese stocks listed in e-commerce rose on Tuesday: JD.com rose more than 14%, Alibaba rose more than 6%; Pinduoduo turned losses into profits in Q2, and stock price rose more than 22% on Tuesday; eBay Australia Station: Some categories of sports shoes must have American shoe sizes; Target will open four new sorting centers in the United States; Xiaomi mobile phone products will use the new logo "xiaomi" and have abandoned the "MI" trademark...

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

E-commerce newsletter

1. Kingsoft Software's net profit in the first half of 2021 was 165 million yuan and down 98% year-on-year

      On August 25, Kingsoft Software released its second quarter and semi-annual financial reports for 2021 as of June 30. In the first half of the year, the company's revenue was RMB 3.039 billion, a year-on-year increase of 17%; of which the revenue of office software and service business was RMB 1.557 billion, a year-on-year increase of 70%. During the reporting period, the profit attributable to owners was RMB 165 million, compared with RMB 9.1576 billion in the same period last year, a year-on-year decrease of 98%; the basic earnings per share was RMB 0.12. The group's gross profit was 2.523 billion yuan, an increase of 16% year-on-year; the gross profit margin was 83%. (E-commerce News)

2. Chinese stocks listed in e-commerce rose on Tuesday: JD.com rose more than 14%, and Alibaba rose more than 6%.

      On August 25, the U.S. stock market closed on Tuesday, and Chinese stocks in e-commerce rose generally. Among them, Pinduoduo closed sharply by more than 22%, JD.com rose 14.44%, Vipshop rose 10.21%, Alibaba rose 6.61%, Yunji rose 12.55%, and Mogujie rose 5.26%. In addition, among education stocks, New Oriental rose more than 26%, Gaotu rose more than 19%, and Good Future rose more than 16%. (E-commerce News)

3. Pinduoduo's Q2 turn losses into profits. Share price rose by more than 22% on Tuesday

      According to the news on August 25, the US stock market closed on Tuesday, Pinduoduo rose 22.25% to US$99.12, with a turnover of over US$4 billion, and the latest total market value was US$124.226 billion. It is reported that Pinduoduo released its second quarter financial report for 2021 as of June 30 last night. According to the financial report, Pinduoduo's second-quarter revenue was 23.046 billion yuan, a year-on-year increase of 89%; net profit attributable to common shareholders was 2.4146 billion yuan, while in the same quarter of 2020, it was a net loss of 899.3 million yuan, turning losses into profits year-on-year. (E-commerce News)

4. Fengchao established Nanchang Dachao Network Technology Company with a registered capital of 50,000 yuan

      According to news on August 24, Tianyan Check information showed that on August 23, Nanchang Dachao Network Technology Co., Ltd. was established. The legal representative is Yang Yanrong, with a registered capital of RMB 50,000. The business scope includes domestic cargo transportation agents; ordinary cargo warehousing services; loading and unloading and handling; supply chain management services; enterprise management consulting; communication equipment sales; Internet sales; Internet of Things technology research and development, etc. The equity penetration chart shows that Shenzhen Fengchao Network Technology Co., Ltd. holds 100% of the company's shares, while the former is wholly owned by Fengchao (Hong Kong) Co., Ltd. (E-commerce News)

Cross-border newsletter

5. Target will open four new sorting centers in the United States

      August 24th news, recently, Target issued an announcement stating that starting from the fall of 2021, Target will open four new sorting centers in the United States to maximize its online delivery efficiency and compete with Amazon. It is understood that the four sorting centers will be located in Houston, Dallas, the Philadelphia area and Lawrenceville, Georgia. In April 2021, Target piloted a new sorting center in Minneapolis, which not only simplified the fulfillment process of physical stores’ digital orders, but also undertakes more than 95% of online grocery orders. (E-commerce News)

6. India's B2B platform Zetwerk completed US$150 million E round financing

      August 24th news, recently, Indian B2B platform Zetwerk announced that it had raised US$150 million in Series E financing. This round of financing was led by D1 Capital Partners, with new investors Avenir, IIFL and existing investors Greenoaks Capital, Lightspeed Venture Partners, Sequoia Capital, and Accel Partners. It is reported that in February this year, Zetwerk received a $120 million Series D financing led by Greenoaks and Lightspeed Venture Partners, which valued the startup's valuation to $600 million. In June, Zetwerk raised $30 million in debt financing from the Mars Growth Capital division of fintech companies Liquidity and MUFG Fund (E-commerce News)

7. eBay Australia Station: Some categories of sports shoes must have American shoe sizes

      On August 24, eBay Australia Station recently issued an announcement stating that starting from August 18, it will require the use of American shoe sizes, rather than Australian shoe sizes. Requirements apply to all items in the Men's Sneakers and Women's Sneakers categories. Sellers need to update the item listing information in the relevant categories by filling in the item details of the "American Shoe Size" before August 18. During the eBay item listing process, this will be seen as determined as "need to be done as soon as possible". After that, the seller will not be able to modify item listings and/or create new item listings in these categories without providing the necessary information. (E-commerce News)

8. Amazon's employee scale has expanded significantly

      Data shows that as of the end of the second quarter of this year, Amazon's employees excluding carriers and seasonal workers reached 1.3 million, most of which belong to Amazon's delivery department employees. Last year, Amazon announced that it would recruit 100,000 workers in March, 75,000 in April, 100,000 in September, and another 75,000 workers in April this year. Currently, Amazon has recruited more than 57,000 vacancies, mainly software development staff. (E-commerce News)

Internet Information

9. Taobao was awarded "not rated" in the first half of 2021 Telegram and Bao consumption rating data

      "Tiansubao" data shows that in the first half of 2021, "Taobao" received a total of 9 consumption ratings, of which 9 were "not rated", and the overall consumption rating in the first half of 2021 was "not rated". Among them, according to the "Dianshubao" e-commerce database of the Internet Economic and Economics Society, "Taobao" has product quality, refund problems, online fraud, false promotions, online counterfeit sales, delivery problems, after-sales service, mismatched goods, etc. (E-commerce News)

10. Xiaomi mobile phone products will use the new logo "xiaomi" and the "MI" trademark has been abandoned

      According to foreign media Neowin, in August, Xiaomi launched the MIX4 full-screen mobile phone with a brand new "xiaomi" brand logo, and no longer uses the "MI" brand logo. The "MI" brand logo has been its common trademark in the past 10 years. Now, Xiaomi has confirmed that all the products it releases in the future will use the "xiaomi" brand logo. At present, Xiaomi's new MILOGO has been launched in stores such as Xiaomi Company Park and Xiaomi Home. (E-commerce News)