Morning News: Shanghai: Online travel companies will suspend their tourism train business; Bosideng: Online sales revenue of its entire brand exceeded 700 million in the first half of fiscal year 2021/22; Indian used car platform Spinny received US$248 million in the E-round financing; EU countries reached a common position on new regulations to curb US technology giants such as Amazon...
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E-commerce newsletter
1. Bosideng: The online sales revenue of its entire brands exceeded 700 million in the first half of fiscal year 2021/22
On November 26, Bosideng released its interim performance report, achieving revenue of 5.39 billion yuan in the six months ended September 30, 2021, a year-on-year increase of 15.6%; profit attributable to equity shareholders increased by 31.4% to 639 million yuan; gross profit margin increased by 2.7 percentage points to 50.5%; operating profit rate increased by 0.5 percentage points to 14.8%. The revenue from online sales of brand down jacket business and women's clothing business during the period was approximately RMB 661 million and RMB 417 billion, respectively, accounting for 19.0% and 10.0% of the revenue of brand down jacket business and women's clothing business, respectively. By sales category, the self-operated and wholesale revenue of online sales is approximately RMB 389.6 million and RMB 317.3 million respectively. (E-commerce News)
2. ByteDance responds to next year's e-commerce business target of 2 trillion GMV: The news is untrue
According to Xinbaer, ByteDance's latest goal for e-commerce business is 2 trillion GMV, of which the GMV target from Douyin e-commerce is 1 trillion, and Tiktok e-commerce GMV target is 1 trillion. Previously, according to "LatePost", the annual GMV of Douyin e-commerce in 2020 exceeded 500 billion yuan, more than three times that of 2019; in 2021, the annual GMV target of Douyin e-commerce business is aimed at trillions. The Douyin e-commerce GMV is mainly composed of two parts: part comes from its own e-commerce tool platform - Douyin Store, and part jumps from live broadcasts and short videos to e-commerce platforms such as JD.com and Taobao to complete transactions. In 2020, the GMV of Douyin stores accounted for about 1/5, accounting for only a small part. (E-commerce News)
3. Hebei e-commerce’s “14th Five-Year Plan” Development Plan: Online retail sales will reach 440 billion yuan by 2025
According to November 25, the Hebei Provincial Department of Commerce recently issued the "Hebei Province E-commerce "14th Five-Year Plan", which clarified the development direction and tasks of Hebei Province's e-commerce during the "14th Five-Year Plan" period. The "Plan" proposes that by 2025, the expected target of online retail sales in Hebei is 440 billion yuan, the expected target of active online stores on major platforms is 800,000, the expected target of cross-border e-commerce trade volume is 40 billion yuan, the expected target of retail sales in rural (county) is 161 billion yuan, and the expected target of express parcels is 10 billion. According to data, during the 13th Five-Year Plan period, Hebei's online retail sales increased from 97.24 billion yuan to 273.58 billion yuan. (E-commerce News)
4. Shanghai: Online travel companies must suspend their tourism train business
On November 26, according to the "Leyou Shanghai", the Shanghai Municipal Bureau of Culture and Tourism issued a notice on November 25, requiring the Culture and Tourism Bureaus of all districts to strictly prevent the import of travel agencies within their jurisdiction, and shall not operate inbound and outbound group tourism and "air ticket + hotel" business, and shall not make any changes in any form. The notice shows that from now on, all travel agencies and online travel companies in Shanghai will immediately suspend cross-provincial group tourism and "air ticket + hotel" business. (E-commerce News)
Cross-border newsletter
5. Indian used car platform Spinny receives US$248 million in Series E financing
November 25th news, according to foreign media reports, Indian used car platform Spinny raised US$248 million in a Series E financing led by Tiger Global and Abu Dhabi Growth Fund to join the unicorn camp. This round of new funds will be used for corporate growth, expansion, marketing and general corporate purposes. It is reported that the company received more than $100 million in a Series D financing led by Tiger Global a few months ago. ((E-commerce News)
6. EU countries reach a common position on new regulations to curb US technology giants such as Amazon
November 26th news, according to foreign media reports, EU countries reached a common position on the new rules on Thursday to curb the power of US tech giants such as Amazon and Apple and force them to take more measures to regulate illegal content on their platforms. However, they will have to finalize the final details with EU lawmakers, who proposed stricter rules and higher fines. The common position adopted by EU countries follows the key points proposed by Vestager and has made partial adjustments. Negotiations are expected to begin next year, and the rules may be adopted and enacted in 2023. (E-commerce News)
7. Hainan Province issues guidance on the healthy development of cross-border e-commerce compliance operations
According to November 26, the Hainan Provincial Market Supervision and Administration Bureau recently issued the "Guiding Opinions on Promoting the Healthy Development of Compliant Operations in Hainan" (hereinafter referred to as the "Opinions"). The "Opinions" propose to adhere to the supervision concept of both development and standardization, and coordinate the promotion of integrated supervision. Grasp the laws of cross-border e-commerce development, adhere to the principles of encouraging innovation, inclusiveness and prudence, strictly abide by the bottom line, and integrated online and offline supervision, and leave enough space for the development of new business forms and new models. Encourage innovation in business models and expand business areas. The "Opinions" also point out that the bottom line of supervision must be strictly adhered to. Strengthen the main responsibilities of operators and fulfill relevant obligations such as product quality and safety, protection, and consumer rights protection in accordance with regulations. (Yibang Power News)
Internet Information
8. TikTok holds its first Black Friday shopping festival in the UK
On November 26, the first "Black Friday" shopping festival event is being held in the UK. From November 25th to 30th, trendy creators on TikTok will start several "Black Fridays", and British users have the opportunity to buy big beauty brands and popular technology products at a 50% discount. The "Black Friday" event also includes lucky draws, holiday gift recommendations and other links. (36Kr)
9. Ministry of Commerce: Will improve the "Live E-commerce Platform Management and Service Specifications"
According to November 26, it was recently stated that it will continue to strengthen the construction of industry standards for new e-commerce formats and new models, and give full play to the basic and leading role of standards. At present, the industry standards of the "E-Commerce Platform Management and Service Specifications" are being revised and improved based on the opinions and suggestions solicited, and will be accelerated according to the procedures. (Yibang Power News)
10. Boss Direct Recruitment's revenue in the third quarter was 1.211 billion yuan, up 105% year-on-year
On November 26, BOSS Direct Recruitment (NASDAQ: BZ) released the unaudited third quarter of 2021. According to the financial report, BOSS Direct Recruitment achieved revenue of 1.211 billion yuan in the third quarter, an increase of 105% year-on-year, exceeding market expectations. After deducting equity incentive fees, the company continued to make profits, with a net profit of 385 million yuan. In the 12 months ended September 30, 2021, the total number of paid corporate customers for BOSS directly hired reached 4 million. (Cailianshe)
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