#Laogao E-commerce Newsletter# [November 24 E-commerce Morning News]

Morning news: Kuaishou E-commerce has added the "Rules for Refunds and No Returns for Kuaishou Stores" and will take effect on December 1; FedEx Australian branch employees launched a strike event; Southeast Asian online ride-hailing giant Grab will be listed in the United States as early as December; Ministry of Commerce: Solidly promote the construction of a comprehensive cross-border e-commerce pilot zone...

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E-commerce newsletter

1. Kuaishou E-commerce has added the "Kuaishou Store Refunds and No Returns Service Rules" which will take effect on December 1st

According to November 24, Kuaishou E-commerce recently issued an announcement stating that in order to improve the service level of merchants and protect the interests of both parties to the transaction, the "Kuaishou Store Refund Non-Return Service Rules" were added. The new rules were revised on November 23, 2021 and came into effect on December 1, 2021. This rule applies to products published in Kuaishou stores that have services such as "refundless return", "broken refund", "broken refund", and "alleviation refund". The refund amount is the maximum refundable amount set by the buyer or the service provider, whichever is lower, and the actual refund amount is based on the amount displayed when the buyer applied. (E-commerce News)

2. Bilibili completed the issuance of US$1.4 billion convertible priority bonds

On November 24, Bilibili announced that it would complete the issuance of convertible priority bonds worth US$1.4 billion worth of US$1.4 billion on December 1, 2026. Moreover, the company has received a notice from the subscriber that it will fully implement the additional purchase right of US$200 million bond quota. (E-commerce News)

3. TikTok was approved as a provincial Internet Investor Education Base in Beijing

According to reports on November 24, relevant sources revealed that Douyin has been approved by the Beijing Securities Regulatory Bureau and has officially won the title of provincial investor education base. The Douyin Investment Education Base Zone mainly popularizes the basic knowledge of the securities and fund futures market to investors, helps investors identify and prevent risks, and guides investors to establish mature and stable investment concepts. Currently, the content in this section mainly focuses on investment-related short videos and headline selected articles. (E-commerce News)

4. TikTok prohibits publishing preschool courses and subject courses in primary and secondary schools

On November 24, recently, the Douyin E-commerce Learning Center issued an announcement prohibiting the publication of courses for preschool children and subject courses for primary and secondary schools. It is worth noting that for non-discipline courses, Douyin is only allowed to publish in the category "Education and Training - Primary and Secondary and Child Training - Children's Interests" and no related products can be promoted in the form of live broadcasts or videos. In addition, many e-commerce platforms such as JD.com, Kuaishou, and Taobao have also removed subject courses. Related stores mainly sell books, stationery, hardware and non-discipline training courses. (E-commerce News)

Cross-border newsletter

5. Southeast Asian online ride-hailing giant Grab will be listed in the United States as early as December

According to news on November 24, Southeast Asian online ride-hailing giant Grab will be listed in the United States as early as December. Before that, Grab will first merge with a special purpose acquisition company, and the company will vote on the merger transaction next week. The merged SPAC company is called Altimeter Growth Corp. It will hold a special shareholders' meeting on November 30, US time. If both shareholders agree, Grab should be able to successfully complete the merger and then go to Nasdaq to list. Through the listing, Grab will raise $4.5 billion in capital, including $4 billion in PIPE investment. It is reported that Grab's net loss was US$988 million in the three months ended September this year, compared with a loss of US$621 million in the same period last year. ((E-commerce News)

6. FedEx Australia branch employees launch a strike

November 23rd news, on November 22nd local time, according to foreign media News Of America, FedEx's logistics operations in New South Wales, Western Australia, Victoria, Tasmania, Queensland and South Australia will be suspended due to the strike. According to reports, like the purpose of the "Make Amazon Pay" global strike event initiated by Amazon employees, FedEx employees also hope to negotiate compensation, working hours and employee systems with the company through the strike. (E-commerce News)

7. Bay predicts that 66% of consumers buy goods from small sellers

On November 24, a forecast for the "Black Friday" sales of the UK site recently made, and two-thirds (66%) of British consumers will plan to buy goods from small businesses on Black Friday this year. Also, nearly one-third (30%) of UK consumers intend to sell their items to fund their shopping. Although product quality remains the same, used items on eBay are usually sold at 50% of the original price. (Yibang Power News)

Internet Information

8. Ministry of Commerce: Solidly promote the construction of cross-border e-commerce comprehensive pilot zone

Optimize the supervision of cross-border e-commerce retail imports and guide the standardized development of the industry. Explore innovation in the entire process of cross-border e-commerce transactions. Support cross-border e-commerce companies to create a flexible supply chain with aggregation of factors and rapid response. Establish a marketing system that integrates online and offline and links domestically and overseas, and promote the construction of infrastructure such as cross-border e-commerce online comprehensive service platforms. Consolidate and strengthen a number of leading cross-border e-commerce enterprises and advantageous industrial parks. Strengthen industry organization construction, deepen international cooperation, and jointly strengthen cross-border e-commerce capacity building with other developing countries. (E-commerce News)

9. Xiaomi responds to the layout of the metaverse: Relevant technical reserves have been made

On November 23, when answering a question about the layout of the metaverse at the earnings call, Xiaomi said that Xiaomi is concerned about the surrounding opportunities generated by the concept of the metaverse, and Xiaomi has made a lot of technical reserves for this. Xiaomi has made relevant investments in wearable devices, videos, displays, etc., and has also cooperated with famous foreign VR/AR brands. Previously, Internet companies such as Tencent, NetEase, and Bilibili responded to the Metaverse in a conference call after the third quarter financial reports and expressed positive attitudes. (E-commerce News)

10. Dada Group's total revenue in Q3 is 1.7 billion yuan. JD.com's GMV is 37.2 billion yuan.

On November 24, Dada Group released its third quarter results for 2021, with total revenue of 1.7 billion yuan, and a year-on-year increase of 86% under comparable caliber. Among them, Dada Express's revenue increased by 600 million yuan. After adjusting its implementation distribution business to net revenue, its revenue increased by 90% year-on-year; JD.com's revenue increased by 84% year-on-year to 1.1 billion yuan. In the 12 months ended September 30, 2021, the total transaction volume of JD.com’s home delivery platform was 37.2 billion yuan; annual active consumers rose to 57.1 million. Dada expects that the total revenue in the fourth quarter of 2021 will be between RMB 2 billion and RMB 2.1 billion, an increase of 88% to 97% year-on-year under comparable caliber. (E-commerce News)