#Laogao E-commerce Newsletter# [E-commerce Morning News on July 13]

Morning News: 2022 Fortune China's top 500 loss-making companies: Kuaishou ranked first; the courier company that was destroyed by 260,000 yuan was only willing to pay 2,000 yuan; Kuaishou recently dealt with 347 fraud and inducement accounts; JD.com revised the "Cancel Order" service management rules to take effect on July 15; Douyin's "Beautiful Guangxi Run-up Plan" merchant transactions exceeded 47.79 million yuan...

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E-commerce newsletter

1. Kuaishou recently dealt with 347 accounts of fraud and inducement

Kuaishou has been cracking down on various unfair competition behaviors that illegally obtain traffic. It has further cracked down on such deception and inducement behaviors, and verified accounts that have deception and induce violations through technical means and manual review, and imposed penalties on illegal accounts based on the violation. This time, the platform dealt with 347 such key illegal accounts. (E-commerce News)

2. The total transaction volume of merchants in Douyin’s “Beautiful Guangxi Run-up Plan” exceeded 47.79 million yuan

According to reports, the "Beautiful Guangxi Run-up Plan" is divided into two sub-themed activities: "Beautiful Guangxi Grass Planting Season" and "Beautiful Guangxi Good Goods Season". The "Grass Planting Season" focuses on life service merchants across the region, focusing on improving the overall marketing capabilities of local brands. The "Good Goods Season" aims to sell good goods and goods from Guangxi across the country through e-commerce platforms, providing consumers with high-quality local goods and services, and driving the development of merchants and local economy. (E-commerce News)

3. Taobao Live Launches the Third New Farmers Live Competition

On July 12, Taobao Live announced that from July to September 2022, Taobao Live Village Broadcasting plans to launch the third New Farmers Live Competition, fully recruiting farmers' live broadcast talents, bringing the agricultural products of their hometown to more consumers and helping rural revitalization. It is understood that July is the first phase of the New Farmers Live Competition, with the registration time from 0:00 on July 9 to 24:00 on July 17, and the competition time is from 0:00 on July 18 to 24:00 on July 22. Recently, Taobao Live also announced that it will prepare traffic gift packages for anchors on the platform during the summer vacation. (E-commerce News)

4. JD.com revises the "Cancel Order" service management rules to come into effect on July 15

According to July 12, JD recently revised the "Cancel Order" service management rules, and this rule adjustment will take effect on July 15, 2022. It is understood that this rule applies to third-party merchants of JD Open Platform. JD.com said that after the order is generated, if the consumer applies to cancel the order, the merchant must accept the consumer's request based on the actual order situation. (E-commerce News)

5. Popular Chinese stocks closed in a mixed manner on Tuesday

According to news on July 13, popular Chinese stocks closed in a mixed manner on Tuesday. Among them, Daily Youxian rose by more than 9%, Best Group rose by more than 5%, New Oxygen rose by more than 3%, Vipshop, Pinduoduo, and Dada Group rose by more than 2%, New Oriental and Zhongtong rose by more than 1%, and JD.com and Tuniu rose by nearly 1%. At the same time, Monster Charging fell by more than 5%, Mogujie fell by more than 4%, BOSS Direct and Manbang fell by more than 2%, and Yixian E-commerce fell by nearly 2%. (E-commerce News)

Internet news

6. 2022 Fortune China's top 500 loss-making companies ranking: Kuaishou ranks first

On July 13, Fortune Plus App released the 2022 Fortune China Top 500 rankings on July 12, Beijing time, considering the performance and achievements of the world's largest listed Chinese companies in the past year. This time, a total of 49 listed companies in Fortune China's Top 500 failed to make a profit, with a total loss of approximately 436.3 billion yuan. Based on the statistics of the losses shown in the financial reports of each company, Kuaishou ranked first in the loss list, with a loss of more than 78 billion yuan; Didi suffered a loss of 49.3 billion yuan, ranking second in the loss list; Suning.com lost 43.2 billion yuan, ranking third in the loss list. (E-commerce News)

7. Fortune China Top 500 Rankings in 2022: JD.com ranks seventh

On July 13, Fortune Plus App released the 2022 Fortune China Top 500 rankings on July 12, Beijing time, considering the performance and achievements of the world's largest listed Chinese companies in the past year. This year, the total operating income of the 500 listed Chinese companies on the list reached RMB 62 trillion, an increase of about 17.4% compared with the companies on the list last year; the net profit reached RMB 4.7 trillion, an increase of about 9.2% over the previous year. The top three of the list this year have not changed. The top companies on the list are: Sinopec, PetroChina and China Construction. Ping An of China ranked fourth and is still the first non-state-owned enterprises. (E-commerce News)

8. Former Kuaishou executive Qiu Guangyu joined Meituan platform

On July 13, "LatePost" exclusively learned that Qiu Guangyu, former head of Kuaishou's Internationalization Division, has recently joined Meituan and temporarily serves as assistant to Meituan founder and CEO Wang Xing. Qiu Guangyu joined Kuaishou in August 2020. He worked for Didi and Kuaishou for 5 years and 18 months respectively, and participated in the internationalization war between the two companies. It is reported that in the taxi-hailing war between Didi and Uber, he led Didi to start from scratch in Latin America and eventually surpassed Uber. After burning more than 10 billion yuan, this round of expansion ended with lowering growth targets and suspending new market openings. It is not clear which business this former Kuaishou executive will be in charge of Meituan next. (E-commerce News)

9. The express company is willing to pay 2,000 yuan in goods that are destroyed by 260,000 yuan

On July 13, 250 bottles of whiskey with a unit price of over 1,000 were shipped from Shanghai to Guangdong. The vehicle accidentally caught fire on the way and all the goods were damaged. The courier sender requested full compensation, and the courier company stated that it could only compensate 2,000 yuan according to the insured terms. Recently, the People's Court of Pudong New District, Shanghai made a first-instance judgment on this express service contract dispute, finding that a defendant's express company did not use a reasonable method to remind the sender to pay attention to the compensation limit clause, and at its discretion, he ordered him to compensate the plaintiff's trading company 160,000 yuan.

Cross-border information

10. AliExpress will adjust the rules for initiating disputes between Spain, France and other countries

On July 12, AliExpress announced that due to the adjustment of differentiated operating strategies of different countries, the platform is expected to gradually adjust the rules for initiating disputes over the failure to receive goods from some online shipping lines in Spain, France, Brazil, the United States and South Korea starting from July 30, 2022. AliExpress said that after the seller ships the goods and fills out the delivery notice, if the buyer does not receive the goods or is not satisfied with the goods received, he can apply for a refund as early as 10 days after the seller ships the goods (some orders in the five countries of West, France, Pakistan, the United States and South Korea can apply for a refund after the estimated arrival time. (E-commerce News)