#Laogao E-commerce Newsletter# [November 25 E-commerce Morning News]

Morning News: ByteDance Education once again lay off employees and will completely give up its primary and secondary school business; Amazon's vice president of physical retail announced its resignation; Xiaopeng Motors President Gu Hongdi: half of the car sales in the future will be overseas; Wall Street lowered Alibaba's average target price for the 18th week in a row...

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E-commerce newsletter

1. ZhuanZhiByteDali Education will completely give up its primary and secondary school business once again

According to the report on November 25, according to "LatePost", many businesses under Byte Education, including Guagualong, Tsinghua and Peking University Online School, Xuelang, hardware, campus cooperation, etc., have recently started layoffs. Nearly two thousand people will be laid off this month. With the end of this year's online classes at the end of the year, thousands of tutors from Tsinghua and Peking University Online Schools may also be laid off. It is reported that the last time Byte Education laid off employees was concentrated in August, half of the 8,000 tutoring team of Guagualong, the children's enlightenment teaching business, was laid off. (E-commerce News)

2. News says Xiaomi may launch self-service repair services

On November 25, Xiaomi India recently announced that "We value your experience and will make our services more convenient." It is understood that Xiaomi is integrating after-sales functions and providing Mi Care services in Xiaomi's Indian retail store. The news released by Xiaomi India this time has sparked speculation about whether Xiaomi will launch an independent repair plan. (E-commerce News

3. Alibaba Health: Revenue in the first half of fiscal year 2022 was 9.358 billion yuan, a year-on-year increase of 30.7%

On November 25, Alibaba Health released an interim performance announcement for fiscal year 2022. The report shows that in the six months ended September 30, 2021, Alibaba Health's revenue was 9.358 billion yuan, a year-on-year increase of 30.7%; it lost 232 million yuan during the period, and profited 279 million yuan in the same period last year; the adjusted net loss was approximately 283 million yuan, and the adjusted net profit for the same period last year was approximately 436 million yuan. (E-commerce News)

4. Xiaomi won the 2021 China Yi Company Award

On November 24, according to Xiaomi's official WeChat account, today, Xiaomi won the "China Yi Company of the Year" award for Tencent News' 2021 "China Yi Company" Corporate Social Responsibility Selection. Xiaomi Group's selected comments are: It has built a support system centered on people with obstacles based on its own products and businesses, proving that inclusive technology can allow everyone to have an independent, decent and dignified life. Xiaomi officially stated that since 2013, Xiaomi has been maintaining communication with obstacle users, and continuously improving Xiaomi’s accessibility based on real needs. In the future, Xiaomi will continue to work hard so that more people can enjoy the convenience and beauty brought by technology. (E-commerce News)

Cross-border newsletter

5. Amazon's vice president of physical retail announced his resignation

On November 25, it was reported that on Tuesday, Amazon's vice president of physical retail Cameron Jones resigned. He sent a message saying: "I have worked at Amazon for more than 14 years, and today is the last day. The experiences and opportunities provided by Amazon can be said to have changed my life." It is reported that during his time at Amazon, Jones had controlled the Prime Video team and supervised the Kindle and Fire mobile phone projects. Before helping Amazon manage physical retail business, Jones helped the company build a physical bookstore chain. ((E-commerce News)

6. News says that Jitu Express raised $2.5 billion in Hong Kong before its IPO. Tencent Holdings participated in the investment

According to reports on November 25, three people familiar with the matter said that Indonesian express company Jitu Express received US$2.5 billion in its latest round of financing, with a company valuation of approximately US$20 billion. This round of financing comes just before Jitu Express plans to go public in Hong Kong, and the company plans to list in Hong Kong as early as the first quarter next year. In addition to major supporters Boyu Investment, Hillhouse Capital, Sequoia Capital China and Tencent Holdings, investors in the latest round of financing also include new investors including Haina Asia Venture Capital Fund, according to people familiar with the matter. (E-commerce News)

7. Wall Street lowered Alibaba's average target price for the 18th consecutive week

According to November 25, at least four brokerage analysts including Haina International Group, Needham, Deutsche Bank and Argus Research have lowered Alibaba's target price this week, which means that Wall Street's average target price for Alibaba has been lowered for the 18th consecutive week, the longest consecutive downward record on record. So far, Wall Street's 12-month average target price for Alibaba has been lowered to $208. It is understood that on Wednesday, the U.S. stock market closed at $136.52. (E-commerce News)

Internet Information

8. Daily Youxian will be included in the FTSE Global Stock Index Series

On November 24, according to the announcement of FTSE Russell Index on November 23, MissFresh will be included in the FTSE Global Stock Index series - China Index, including FTSE Complete Market Index and FTSE Micro Stock Index, which will officially take effect after the closing of the market on December 20, 2021. It is reported that after MissFresh released its third-quarter financial report, JPMorgan Chase, Citigroup and CICC respectively gave it ratings for overweight, buy and outperform industry. In addition, in the third quarter, MissFresh also received increased holdings from top large institutions around the world such as BlackRock. (E-commerce News)

9. Xiaopeng Motors President Gu Hongdi: In the future, half of the car sales will be overseas

According to Phoenix Technology, Gu Hongdi, vice chairman and president of Xiaopeng Motors, said in an interview that Xiaopeng Motors plans to become a global automaker, and half of the car delivery volume in the future will be targeted to countries outside China. He did not provide a specific time frame to achieve this. He also revealed that Xiaopeng Motors will increase its investment in the international market this year and next year, and is expected to enter the Swedish, Denmark and the Netherlands markets next year. (E-commerce News)

10. Daqing will issue 4 million yuan in consumption coupons through Yunflash Payment

According to the WeChat official account of "Daqing Traffic Broadcast", Daqing City will continue to carry out government consumption coupons on the basis of issuing home appliance consumption coupons and car purchase subsidies. The issuance time for this coupon is from 9:00 on November 27 to 23:59 on December 3. Consumers first download and register UnionPay Cloud Flash Payment App on their mobile phone, bind a bank card, enter the homepage of the Cloud Flash Payment App, click "Local Zone - Government Promotion of Consumption", select "Daqing Government Consumption Coupons", click to view, select consumption coupons, click grab coupons, enter the verification code, and you can receive the consumption coupons. (E-commerce News)