#Laogao E-commerce Newsletter# [February 10 E-commerce Morning News]

Morning News: Han Rui, Vice President of JD.com: Winter Olympics brings ice and snow consumption; Zhejiang: 2022 Online New Year’s Festival achieved online sales of 430 billion yuan; Kuaishou cracked down on fraudulent content and accounts in January and punished more than 660,000 accounts; Amazon’s grocery revenue exceeded 1 billion pounds; SSG.com, an e-commerce platform under South Korea’s New World Group, made an IPO...

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E-commerce newsletter

1. Han Rui, Vice President of JD.com Group: Winter Olympics will boost ice and snow consumption

On February 9, Han Rui, vice president of JD Group and head of JD Retail V business group, published an article in the Economic Daily that with the Winter Olympics, my country's ice and snow sports consumption scenarios have been continuously enriched, and the ice and snow industry has continued to grow. The Spring Festival consumption trend released by JD.com shows that as of February 5, the overall transaction volume of ski sports products increased by 322% year-on-year, of which the transaction volume of ski masks reached 15 times year-on-year, and the overall transaction volume of ice sports products increased by 430% compared with that of which the transaction volume of figure skates, speed skate sharpeners, speed skate skates, ice hockey clubs, ice skates and ice hockey shoes increased by 553%, 420%, 368%, 328%, 266%, and 125% year-on-year respectively. (E-commerce News)

2. Zhejiang: 2022 Online New Year’s Goods Festival achieves online sales of 430 billion yuan

February 9th news, recently, the 2022 Online New Year’s Festival of "Zhejiang Goods Welcome the New Year and Enjoy Richness in Zhejiang" hosted by the Zhejiang Provincial Department of Commerce has come to a successful conclusion. According to statistics, during the "2022 Online New Year's Festival" event from January 10 to February 7, more than 100,000 companies and merchants in Zhejiang participated, and a total of more than 10 billion yuan of coupons and consumption coupons were issued, and e-commerce platforms achieved a total of 430 billion yuan of online sales, and e-commerce merchants achieved a total of 115 billion yuan of online sales. (E-commerce News)

3. The shares of Huanshi Logistics held by Cainiao Station increased to 13.53%

According to news on February 9, Tianyan Check information shows that recently, Shanghai Huanshi Logistics Co., Ltd. has undergone industrial and commercial changes, and the shareholding ratio of the Cainiao Station affiliated company Zhejiang Cainiao Supply Chain Management Co., Ltd. has increased from 10.33% to about 13.53%. In addition, the company's registered capital decreased from about 115 million yuan to about 87.9267 million yuan. Shanghai Huanshi Logistics (Group) Co., Ltd. was established in January 2011. The legal representative is Lin Jie. The business scope includes international cargo transportation agents by sea, aviation, land (E-commerce News)

4. Kuaishou cracked down on fraudulent content and accounts in January for more than 660,000 accounts

According to February 9, Kuaishou recently issued an announcement on cracking down on fraudulent accounts. The announcement shows that in January 2022, the Kuaishou community security and risk control team conducted special governance on fan fraud, private order transaction fraud, counterfeit fraud, order-brushing part-time fraud and other contents and accounts through the risk control identification model, and a total of 665,800+ were fined. Among them, 214,600 yuan was defrauded by fans, 275,800 yuan was defrauded by private order transactions, 8,760 yuan was defrauded by impersonating fraud, and 166,600 yuan was defrauded by part-time orders. At the same time, the Ministry of Justice cooperated with the police to crack down on two fraud cases and criminally detained 12 people. (E-commerce News)

Internet news

5. Guangdong: During the 2022 Spring Festival holiday, the province's express parcel processing volume reached 140 million pieces  

According to the news on February 9, the latest monitoring data released by the Guangdong Provincial Postal Administration recently showed that during this year's Spring Festival, the province's express parcel processing volume reached 140 million pieces, with an average daily express parcel processing volume of about 20 million pieces. According to statistics, during the Spring Festival, 84,000 couriers in the postal and express delivery industry in Guangdong Province went to work normally, and more than 34,000 vehicles were put into operation by various delivery companies. (E-commerce News)

6. Yum China's latest financial report: revenue in 2021 was US$9.85 billion and increased by 19% year-on-year  

On February 9, Yum China, the parent company of KFC and Pizza Hut, released its fourth quarter and full-year financial report for 2021. Data shows that Yum China's total revenue in the fourth quarter of 2021 was US$2.29 billion, an increase of 1% from US$2.26 billion in the same period last year. The company's net profit in the fourth quarter increased from US$151 million in the same period last year to US$475 million, mainly due to the increase in operating profits, and part of the profit was offset by the company's loss in equity investment in Meituan. Same-store sales for the whole year fell by 1% compared with the same period last year, with KFC falling by 3% and Pizza Hut increasing by 7%. (E-commerce News)

Cross-border information

7. Amazon's grocery revenue exceeded £1 billion

February 10th news, according to Sina Technology, the UK antitrust regulator "Competition and Markets Administration" said that due to the increasing frequent activities of Amazon in the UK's grocery industry, it is now necessary to comply with the "Code of Conduct for Grocery Supply". The guidelines apply to retailers whose annual turnover of grocery business exceeds £1 billion. It is reported that Amazon has not released sales data for its UK grocery business, but the decision of CMA means that its sales have exceeded the £1 billion threshold. Analysts believe that Amazon's food retail market in the UK will face stricter regulation due to the CMA's decision. (E-commerce News)

8. Lyft's latest financial report: revenue in the fourth quarter of 2021 was US$970 million and increased by 70% year-on-year

According to the financial report, Lyft's revenue in the fourth quarter of last year was US$969.9 million, up from US$569.9 million in the fourth quarter of 2020, a year-on-year increase of 70%. The net loss for the quarter was $258.6 million, compared with the net loss for the fourth quarter of 2020 of $458.2 million; adjusted net profit was $32.1 million, compared with the adjusted net loss for the fourth quarter of 2020 of $185.3 million. From the full year, Lyft's revenue in 2021 was US$3.21 billion, compared with US$2.4 billion in fiscal year 2020, a year-on-year increase of 36%; its net loss was US$1.01 billion, narrowing compared with US$1.8 billion in 2020. (E-commerce News)

9. SSG.com, an e-commerce platform under Korea New World Group, sprints to IPO

According to the news on February 9, according to the "Cross-Border Capital Theory", SSG.com, an online shopping platform under the South Korean New World Group, will be launched on Kospi in 2022 to achieve an IPO. According to multiple sources, SSG.com plans to apply for a preliminary IPO review in April 2022, with the leading management team of the IPO including Future Asset Securities and Citigroup's global market South Korea Securities. SSG.com said that this time it was not an IPO as the identity of integrating eBay South Korea. It is reported that after the merger of the two, SSG.com will occupy 15% of the Korean e-commerce market, second only to Naver, which has 17% of the share. Later, SSG.com merged with Shinsegae Mall to become a comprehensive e-commerce platform under New World Group. (E-commerce News)

10. Indian e-commerce logistics service provider XpressBees receives US$300 million in Series F financing

On February 9, XpressBees, an end-to-end logistics solution provider focused on e-commerce, raised $300 million in a Series F financing with a valuation of $1.2 billion. Leaders of this round of financing are existing investors in XpressBees, including Blackstone Growth, TPG Growth and ChrysCapital, Investcorp and Norwest Venture Partners. XpressBees said it will use the new funds to become a full-service logistics company for product development and recruitment. It is understood that Xpressbees is an end-to-end logistics service provider established in 2015. It has now rapidly risen to be one of the largest express logistics companies in India, with a diversified network of more than 2,700 service centers and serving 450 e-commerce customers. (E-commerce News)