#Laogao E-commerce Newsletter# [E-commerce Morning News on January 5]

Morning News: Quzhou City, Zhejiang Province, and Taobao and Tmall launched the "Quzhou Youli" global New Year's Festival; Alibaba International Station gradually increased its overseas direct sales and service team; Daily Youxian: Sales of pre-made dishes increased by 1.3 times during the New Year's Day 2022; the revision of the "Dunhuang Network Seller Illegal Management Rules" will take effect on January 11; Chinese e-commerce stocks fell on Tuesday, Pinduoduo fell by more than 11%...

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E-commerce newsletter

1. Quzhou City, Zhejiang Province, and Taobao and Tmall launch the "Quzhou Youli" global New Year's Festival

On January 5th, recently, "Quzhou has gifts - the 2022 Global Online Trendy New Year's Festival and the launch ceremony of Tmall and Taobao Overseas Helping Quzhou Rich Co-op" was held at the Garden 258, Quzhou City, Zhejiang Province. Next, the Quzhou Municipal Bureau of Commerce will, in accordance with the work arrangements of the "Quzhou Youli-2022 Global Online New Year's Goods Festival" activity plan, link with the business departments of various blocks, organize e-commerce platforms and enterprises to actively participate, and provide strong guarantees for the supply of high-quality New Year's goods and daily necessities during the Spring Festival in Quzhou. (E-commerce News)

2. Alibaba International Station gradually increases overseas direct sales and service teams

According to China Securities Network on January 4, Alibaba International Station is gradually increasing its overseas direct sales and service team. Focusing on cross-border logistics, Alibaba International Station actively builds new service standards, and improves the certainty and timeliness of fulfillment by building a localized and industrialized cross-border logistics network. Alibaba International Station stated that the company has been cooperating with multiple parties to assist in building new digital foreign trade infrastructure, and reduce purchasing thresholds and costs through refined and layered operations. (E-commerce News)

3. Daily Youxian: Sales of pre-made dishes increased by 1.3 times during New Year's Day 2022

According to January 4, the New Year's Day fun consumption data released by MissFresh today showed that at-home hot pot, flowers and fruits and other categories have doubled, and the sales of pre-made dishes have increased by 1.3 times. Among them, as the private brand of Daily Youxian pre-made dishes, the sales of the "Daily Signature Dishes" series of products, the flavored sheep scorpion, domineering beef bone pot and fresh-benwei old hen soup, increased by nearly 2 times during the New Year's Day. At the same time, various seasonal fruits sold by MissFresh also increased to varying degrees. Among them, Dandong Hongyan Strawberries, Chile imported cherries and Guangxi sugar oranges are the top 3 products for fruits. (E-commerce News)

4. Kuaishou has reported layoffs again: the proportion of layoffs in individual teams reaches 30%

According to the report on January 4, according to The Paper, several internal employees of Kuaishou said that Kuaishou started a large-scale layoffs at the end of last year, covering multiple business departments such as e-commerce, algorithms, internationalization, commercialization, games, and A-stations. The layoffs of individual teams reached 30%. Meanwhile, an international business employee of the company revealed that the proportion of layoffs on its team is about 25%. In terms of games, Kuaishou employees said: "The first wave of layoffs is Kuaishou Games, and only a small number of people are left in Beijing." The employee revealed that Kuaishou's AcFun business previously acquired is also laying off employees significantly. (E-commerce News)

Cross-border newsletter

5. The revision of the "Dunhuang.com Seller Violation Management Rules" will take effect on January 11

According to the news on January 4, Dunhuang.com issued a notice today stating that the platform has adjusted the penalty rules for the "Dunhuang.com Seller Illegal Management Rules". If the violation is serious, the account will be punished with 30 red cards for serious violations. In addition, after the policy changes, the situation where the logistics seller ships are inconsistent with the place of delivery and place of stocking in the penalty of breach of commitments has also been added. The amendment to the rules will come into effect on January 11, 2022. (E-commerce News)

6. Alibaba International Station adjusts the shipping time limit rules for online transaction orders during the Spring Festival

On January 4, Alibaba International Station issued an announcement to adjust the shipping time limit rules for online transaction orders during the 2022 Spring Festival. If the successful payment of the buyer directly placed a credit guarantee order from 00:00:00 on January 23 to 23:59:59 on February 15, 2022, and the order stipulates that the delivery time is 23:59:59 on February 23, the seller must ship the goods before 23:59:59 on February 23 and hand over to the logistics company to collect the parts. The buyer can check the logistics status of the order on the order details page or the logistics company system. The delivery time of the credit-guarantee orders/E foreign exchange collection orders that are placed directly by non-buyers is agreed by the buyer and seller. (E-commerce News)

7. Delivery Hero acquires approximately 39.4% of the equity of Spanish takeaway app Glovo

On January 4, German food delivery group Delivery Hero recently stated that it has signed an agreement to acquire about 39.4% of the company's shares in the well-known Spanish takeaway delivery app Glovo. On a non-dilution basis, the company currently holds approximately 43.8% of Glovo's shares. Upon completion of the deal, Glovo will continue to operate with its existing brand and platform under its existing management team, led by two of its founders, who will continue to invest in Glovo. Delivery Hero said that on a fully diluted and debt-free basis, the deal will bring Glovo's value to €2.3 billion before completing the financial calculation adjustment. (E-commerce News)

Internet Information

8. Tencent announced a 2.6% stake in Sea Limited

On January 4th, Tencent announced today that it is conducting a transaction to reduce its holdings of 14,492,751 Class A shares in Sea Limited, reducing Tencent’s equity in Sea from 21.3% to 18.7%. Together with the proposed changes in voting rights of shares, Tencent’s voting rights held by Sea are expected to be reduced to less than 10%. Tencent plans to maintain its vast majority of its equity in Sea for a long time and will continue to maintain its existing business partnership with Sea. The divestment provided funds for Tencent for other investments and social projects, while Tencent retained a vast majority of its equity in Sea and continued to benefit from the company's future growth. (E-commerce News)

9. Chinese e-commerce stocks listed in the United States fell on Tuesday, Pinduoduo fell by more than 11%.

On January 5, when the U.S. stock market closed on Tuesday, Chinese stocks in e-commerce fell generally, Alibaba fell 0.68%, and JD.com fell 6.04%; Pinduoduo fell 11.19% to US$49.82, with a total market value of US$62.439 billion. Other popular Chinese stocks generally fell, including Bilibili falling 8.94%, Douyu falling 8.02%, Zhihu falling 6.95%, Manbang falling 6.02%, Didi falling 4.76%, Baidu falling 1.72%, and BOSS Direct Recruiting falling 1.26%. (E-commerce News)

10. Taobao and Chongqing Dazu Court signed a cooperation agreement for execution in other places

On January 4th, recently, the People's Court of Dazu District, Chongqing and Taobao Software Co., Ltd. held a signing ceremony for the off-site execution cooperation agreement. The judicial auxiliary work of the off-land landmark items issued by the Dazu Court at Alibaba, such as sampling, organizing evaluation, posting announcements, filing and filing, property due diligence, leading the viewing, and assisting in delivery, etc., is handed over to Taobao. According to reports, by leveraging Taobao's technology and industry advantages and integrating service provider resources, the execution efficiency of the people's courts can be further improved, saving time for execution in other places, and better safeguarding the legitimate rights and interests of the parties. (E-commerce News)