#Laogao E-commerce Newsletter# [October 11 E-commerce Evening News Brief]

Evening news: Tmall officially released Double 11 types of mowers; Meituan rose by more than 8%, with a total market value of HK$1.70 trillion; Xiaohongshu responded to rumors of IPO in Hong Kong: There is no clear plan yet; Tmall International will upgrade the service provider's star rating rules from October 18; the registered capital of Amazon affiliated companies increased to approximately HK$24.298 billion, an increase of 354%...

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E-commerce newsletter

1. Tmall officially releases double 11 types of mowers

According to October 11, in the early morning of this day, Tmall announced the official release of the Double 11 Mowers. According to reports, in the planting mower, users can learn about Double 11 products and discount information in advance, and at the same time, they can quickly get the Double 11 strategy with functions such as searching for the same model and one-click purchase. In addition, during this year's Double 11, Taobao launched a grass planting period. The Double 11 grass planting period will be launched on October 1 and will last until the end of Double 11. As the main venue for Double 11 grass species, Taobao Shopping will link Taobao homepage, Taobao live broadcast and other content positions to meet the merchant’s urgent needs for grass planting, and at the same time solve the problem of consumers’ “what to buy”. (E-commerce News)

2. Meituan rose more than 8%, with a total market value of HK$1.70 trillion

According to news on October 11, as of press time, Meituan Hong Kong stocks rose 8.20% to HK$277.0, with a total market value of HK$1.70 trillion. On October 8, the State Administration for Market Regulation imposed administrative penalties on Meituan's "choose one" monopoly in the online catering takeaway platform service market in China in accordance with the law, ordered Meituan to stop the illegal acts, fully refund the exclusive cooperation deposit of 1.289 billion yuan, and imposed a fine of 3% of its sales in China in 2020, totaling 3.442 billion yuan. Meituan responded to this and said that it would accept it sincerely, resolutely implement it, and will conduct comprehensive and in-depth self-inspection and rectification to eliminate "choose one of two". (E-commerce News)

3. Special rectification of Kuaishou e-commerce conducts improper marketing and publishes false propaganda information

On October 11, yesterday, Kuaishou E-commerce issued the "Special Governance Announcement on He", which will focus on rectifying behaviors such as using social public events to market or promote products, using bizarre plots to attract users' attention, and then use low prices and other means to induce users to purchase goods, and promote their special effects. The announcement stated that Kuaishou E-commerce will make comprehensive judgments based on the severity of the violation and the number of violations, and will deduct points, suspend the use of shopping carts, pay liquidated damages, and ban Kuaishou accounts until the platform is cleared and cooperation is terminated. (E-commerce News)

4. Upmesh, a live e-commerce service provider, completed a seed round of $3 million

According to foreign media reports, Singapore-based startup Upmesh recently completed a seed round of $3 million. This round of financing was led by Leo Capital and followed by Beenext, iSeed and others. This round of financing funds will be used to invest in the Philippines and Malaysian markets, and Upmesh also has plans to enter the Indonesia, Thailand and Vietnam markets. Public information shows that Upmesh was launched early this year and provides a series of live broadcast tools for merchants that sell live on social media, such as automatically capturing orders in live reviews, matching orders with items in sellers' inventory, sending payment links to customers, etc. (E-commerce News)

Internet news

5. Xiaohongshu responds to rumors of IPO in Hong Kong: There is no clear plan yet

On October 11, in response to the market rumors that Xiaohongshu is considering transferring its listing location from the United States to Hong Kong, China and conducting an IPO of at least US$500 million, Xiaohongshu responded that the company will maintain communication with the capital market in stages, but there is no clear IPO plan yet. It is understood that at the end of April this year, there was news that Xiaohongshu planned to conduct an IPO in the United States around the middle of the year, raising about US$500 million to US$1 billion. But in July this year, a person familiar with the matter said that Xiaohongshu originally planned to go public in the United States, but its IPO was suspended due to regulatory impacts. (E-commerce News)

6. Cancel external link card forwarding and sharing on WeChat? Responding that it is impossible to judge the security of external links

According to October 11, it is reported that when testing the WeChat sharing function, the reporter found that when directly sharing the link URL in the WeChat app on the mobile phone, the "Forward" and "Share to Moments" buttons could not be found. Relevant insiders in Tencent told reporters that WeChat official explained on the prompt page for external link jump, "External links cannot be shared now because WeChat cannot judge the security of third-party external links." (Pengpai)

Cross-border newsletter

7. Tmall International will upgrade the service provider’s star rating rules from October 18

On October 11, Tmall International issued an Notice on Upgrading the Ecological Rating Rules of Tmall International Service Providers (hereinafter referred to as the Announcement) on October 11.

The announcement stated that in order to be closer to the development demands of the majority of service provider partners at Tmall International, so that service providers at different development stages can enjoy the development dividends, and tap more potential partners and platforms to grow together, the star rating rules of Tmall International service providers will be upgraded from October 18, 2021. The announcement shows that after the upgrade, it will provide the following assistance to service providers. The upgrade path is clear and clear: guide the operation direction of service providers, focusing more on efficiency; corresponding support for hierarchical rights and interests: service providers will obtain more cooperation opportunities for different brands at levels; star distribution selection limit: the top level will have more endorsement capabilities, reflecting the actual status of service providers in the ecosystem.

The "Tmall International Star Service Provider Layered System Trial Operation Rules" shows that in terms of the assessment targets, they can participate in the assessment by completing the service provider certification at Tmall International, and conducting store operations at Tmall International for more than 3 months, and completing the report on the relationship between the store and the service provider, and then participate in the assessment.

In terms of assessment time, the assessment is four times a year, and once a quarterly assessment is performed. The time for announcing the assessment results is early April, early July, early October and early January respectively. After the Zixing service provider needs to meet the candidate service provider standards, they will register for offline roadshow scores and be selected twice a year, and the time for announcing the results is early January and early July.

In terms of the scoring rules of star service providers, a GMV baseline for star service providers is added: based on the sum of GMVs of all bound stores of the service provider, reaching the baseline and above to enter the candidate service provider database of this level. Assessment cycle: 12 months (3 months in this quarter + 9 months backwards), the cumulative GMV of the operating store is greater than or equal to the baseline, and it will automatically enter the candidate evaluation pool of star service providers at this level. The specific baseline standards will be determined based on the overall situation of the current service provider ecosystem. The service provider backend will be launched at the end of October. At that time, the service provider ecosystem partners can self-bind/unbind through the backend.

8. Qinghai Haidong's first "9710" cross-border e-commerce B2B export business officially opened

On October 11, recently, Qinghai Mengnajun Trading Co., Ltd. sent a collection and playback combination machine worth about US$200,000 to the United States was successfully cleared, marking the official launch of the "9710" cross-border e-commerce B2B export business of Haidong Cross-border E-commerce Comprehensive Pilot Zone. As of the end of September, Qinghai Caojiabao Bonded Logistics Center (Type B) has achieved cross-border e-commerce B2B exports of US$3.75 million, and its products are 52 types such as audio and audio combination machines. The main export destinations are countries and regions such as the United States. (E-commerce News)

9. The registered capital of Amazon affiliated companies increased to approximately HK$24.298 billion, an increase of 354%.

10月11日消息，天眼查信息显示，近日，亚马逊 投资有限公司发生工商变更，企业注册资本由约53.52亿港元增至约242.98亿港元，增幅约354％。该公司成立于2012年7月，法定代表人为沈祝闽，经营范围包括：预包装食品销售；特殊食品销售；从事图书、报纸、期刊、电子出版物批发业务等。股东信息显示，该公司由亚马逊（香港）有限公司全资持股。（电商报）

10. Dunhuang.com will launch the US on time dedicated line - YL (special) and other two channels

On October 11, Dunhuang.com issued a notice on the launch of the US on-time dedicated line-YL (special) and the US on-time dedicated line-YL (Public + Electric) on October 9 (hereinafter referred to as the announcement).

The announcement stated that in order to better provide sellers with diversified logistics products, online shipments have newly launched "American on-time dedicated line-YL (special)" and "American on-time dedicated line-YL (general + power)".

The announcement shows that the United States' on-time dedicated line-YL (special) line service country is the United States, with a transportation time of 10-14 days and a weight limit of less than 2.2KG. The product attributes can be shipped as reference goods, prohibited items and other items that can be shipped outside of live goods; the United States' on-time dedicated line-YL (general + electric) line service country is the United States, with a transportation time of 10-14 days and a weight limit of less than 1.225KG. The product attributes can be shipped as general goods, live, and can be used for cosmetics (paste-like cosmetics). (E-commerce News)