#Laogao E-commerce Newsletter# [June 9 E-commerce Evening News Brief]

Evening News: Suning.com's subsidiary was forced to be enforced by more than 2.93 million yuan; Citi maintains JD's "buy" rating target price of US$90; Bank of America Securities maintains Alibaba's "buy" rating target price of HK$159; 1688 will return the balance of "purchase special funds"; Amazon's former global consumer business CEO will join the logistics giant Flexport...

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E-commerce newsletter

1. JD Health launched three online consultation services during 618

According to Phoenix.com, during this year's 618, JD Health's medical services were fully upgraded, and three online consultation services, including "Expert Online", "Instant Ask Beijing Medical Care" and "Night Emergency Clinic", are launched to meet users' medical consultation needs in different scenarios. Specifically, the "Expert Online" service helps users obtain medical services from experts in Grade A hospitals without leaving home through in-depth cooperation with famous doctors from Grade A hospitals. (E-commerce News)

2. Suning.com subsidiary was forced to enforce more than 2.93 million yuan

According to news on June 9, Tianyan Check information shows that recently, Tianjin Tianning Suning.com Trading Co., Ltd. added a new information of the person subject to execution, with case number Tianjin 0116 Execution No. 11121, with the execution target of more than 2.93 million yuan. The execution court is the People's Court of Binhai New District, Tianjin. Information shows that Tianjin Tianning Suning.com Trading Co., Ltd. was established in December 2007 with a registered capital of approximately RMB 148.55 million. The legal representative is Wu Jun. The business scope includes: wholesale and retail industry; owned house rental; advertising business; refrigeration and air conditioning, loading and unloading and handling services, etc. (E-commerce News)

3. 1688 will return the original "purchase special funds" balance

According to June 9, today, 1688 issued a unified notification for the original return of the balance of "Procurement Special Funds".

It is reported that 1688 has stopped the activation of the "Procurement Special Fund" service and the transfer of funds on January 18, 2022, and removed the procurement special fund payment function on April 6, 2022. In order to protect the rights and interests of merchants, the 1688 platform will uniformly return the balance of the "Procurement Special Fund" and the specific arrangements are as follows: Starting from June 16, 2022, 1688 will successively uniformly return the existing balance of the "Procurement Special Fund" and return the balance to the Alipay account balance bound to the user when the "Procurement Special Fund" service. Merchants can log in to "1688APP-My-More Applications-Procurement Special Fund" to view the balance of 1688 "Procurement Special Fund"; if there is a balance in the purchase special funds, you can view the return record through the Alipay bill at that time; if the balance return fails due to abnormal account or other reasons, it will be processed separately. (E-commerce News)

4. JD.com released the "Home Home Decoration Service Industry Trend Insight Report"

June 9th news, today, JD Home, JD Consumer and Industrial Development Research Institute and Sina Home released the "2022 Home Decoration Service Industry Trend Insight Report" based on third-party research during JD 618.

It is reported that the report initiated a survey on more than 1,000 consumers, of which 25% of users in high-tier cities account for 25%, 35% of users in medium-tier cities account for 40% of users in sinking markets account for 58%; users under 35 years old account for 58%, and the male-female ratio is about 3:2. The report shows that more than 60% of consumers will purchase customized furniture or large items from e-commerce channels, among which JD.com is the most trustworthy; home decoration pain points still exist, young people prefer JD.com's price insurance, first claim payment/evening compensation, and material verification services; 56% of users believe that service items and quality have become important factors that stimulate market consumption vitality; male users love "first claim payment" services the most, while female users are more concerned about whether to "feel free to wear" services. (Yibang Power)

Internet news

6. Citi maintains JD.com’s “Buy” rating target price of US$90

On June 9, Citi released a research report saying that it maintained JD.com's "buy" rating with a target price of US$90. This is valuation based on the discount rate of gold flow, which is equivalent to predicting the price-to-sales ratio of 0.7 times this year. Based on the initial traction of the 618 E-commerce Festival, the bank conservatively predicts that the total commodity transaction volume during the promotion period may be between 358-368 billion yuan, a year-on-year increase of 4%-7%. As of today's closing, JD.com rose 7.66% to US$66.74, with a total market value of US$103.809 billion. (E-commerce News)

7. Bank of America Securities maintains Alibaba's "buy" rating target price of HK$159

On June 9, Bank of America Securities released a research report saying that it maintained Alibaba's "buy" rating with a target price of HK$159. The company said that the value of general commodities in the mainland market in April fell by low double-digit year-on-year, and supply and fulfillment capabilities began to recover in late May, and made significant progress in early June, but it has not yet reached a normal level. It is expected that the bottleneck problem will be fully resolved within June. As of press time, Alibaba's Hong Kong stock price was HK$110.8, up 1.84%, with a total market value of HK$2.40 trillion. (E-commerce News)

8. SF Express announced the upgrade of "exclusive emergency" service

According to reports on June 9, it is reported that SF Express recently announced the upgrade of the "exclusive emergency" service. According to reports, there are 200+ new routes for exclusive emergency items, covering key first- and second-tier cities across the country. The cities starting from the opening route are: Shanghai, Shenzhen, Guangzhou, Beijing, Chengdu, Dongguan, Nanjing, Ningbo, Qingdao, Tianjin, Wuhan, Changsha, and Chongqing. (E-commerce News)

Cross-border information

9. TikTok launches new screen time feature to deal with addiction

According to TechCrunch, today, TikTok launched a new set of screen time features, aiming to give users better control over their use of TikTok. TikTok notes that the tool can also be paused or closed at any time, which will allow users to use reminders that they think are appropriate. (E-commerce News)

10. Former Amazon's global consumer business CEO will join logistics giant Flexport

According to foreign media reports, Amazon executive Dave Clark, who unexpectedly announced his resignation last week, will soon become CEO of San Francisco logistics giant Flexport. Amazon announced Clark's resignation last week, but did not appoint a new leader to replace him in charge of the company's global consumer business. He will join San Francisco-based Flexport in September this year and will serve as co-CEO with the company's founder and current CEO Ryan Biderson in the first six months. Biderson will then be transferred to executive chairman next year, with 49-year-old Clark alone as CEO. (Yibang Power)