#Laogao E-commerce Newsletter# [October 28 E-commerce Morning News]

Morning News: Antarctic E-commerce's net profit in the first three quarters was 249 million yuan, down 38.27% year-on-year; Kuaishou E-commerce carried out special governance on marketing and promotion of "solid beverages" foods; Cainiao: During this year's Double 11, it is expected to achieve logistics carbon reduction of more than 60,000 tons; Amazon's revenue in the third quarter of 2022 was US$127.1 billion; Egypt's B2B e-commerce platform MaxAB completed a US$40 million Series B financing...

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E-commerce newsletter

1. Antarctic E-commerce's net profit in the first three quarters was 249 million yuan and down 38.27% year-on-year

According to October 27, Antarctic E-Commerce released its first three quarters of 2022 today, achieving operating income of 2.576 billion yuan, a year-on-year decrease of 7.14%. The net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses was RMB 206 million, a year-on-year decrease of 45.73%. Basic earnings per share is 0.1065 yuan per share. (E-commerce News)

2. Kuaishou E-commerce conducts special governance on marketing and promotion of "solid beverage" foods

On October 27, Kuaishou E-commerce issued an announcement today stating that in order to regulate the promotion of merchants/carrying experts in "solid beverages" products, eliminate non-compliant products, reduce the occurrence of misleading consumers and infringing on the legitimate rights and interests of consumers, and improve consumer experience, the platform decided to carry out special governance on the promotion of merchants/carrying experts in "solid beverages" products. (E-commerce News)

3. Meituan: From January to September, Xinhua Bookstore orders increased by 83% year-on-year

According to reports on October 27, following large supermarkets, convenience stores, and couples grocery stores, physical retail stores such as Xinhua Bookstore have also increased their investment in real-time retail, expanding transaction scenarios, and promoting performance growth. Meituan data shows that from January to September 2022, the number of Xinhua Bookstore store orders increased by 83% year-on-year. On July 26 of the same year, the first batch of 30 "Xinhua Bookstores" and "Shanghai Bookstores" in Shanghai also entered the Meituan platform. As of now, the number of Xinhua bookstores on Meituan platform has increased to 230, providing consumers with "online ordering and 30-minute offline delivery" service. (E-commerce News)

4. Xiaohongshu denies the rumor that “all knowledge paid courses are removed from the shelves”

On October 27, a Weibo user posted a message saying, "After receiving a notice from Xiaohongshu, all knowledge payments need to be removed from the shelves and cannot be sold on the platform." On the same day, Interface Education asked Xiaohongshu for confirmation, and the other party responded that the situation was untrue, and the knowledge payment courses cannot be sold in e-commerce malls, but are uniformly sold in the "column" products on the blogger's personal page, and the "column" products were not removed from the shelves. (E-commerce News)

Internet news

5. Cainiao: Logistics reduction of more than 60,000 tons during this year's Double 11 period is expected to achieve logistics carbon reduction

On October 27, Cainiao announced that it is expected to achieve a logistics carbon reduction of more than 60,000 tons during this year's Double 11, and generate more than 2 billion green behaviors. Cainiao said that this will be the highest social participation in Double 11 green logistics activity, and it is also the first time that Tmall Double 11 has announced the carbon emission reduction forecast value. From November 1 to 20, 130,000 Cainiao Stations across the country will open for recycling express packaging. After picking up the parts, consumers will leave the express packaging and then scan the code on site to get the eggs in the green home of Cainiao APP. This year, we have prepared more than one million eggs and other gifts. (E-commerce News)

6. Douyin Rural Plan is selected as the first batch of typical cases of social assistance by the National Rural Revitalization Bureau.

According to October 27, the National Rural Revitalization Bureau recently announced the first batch of typical cases of social assistance. It is understood that the 36 typical cases selected by the National Rural Revitalization Bureau this time cover the work of cooperation between the east and the west, designated assistance from central units, private enterprises, and social organizations to help consolidate and expand the results of poverty alleviation and effectively connect with rural revitalization. In order to help farmers more targetedly, Douyin e-commerce has focused on the "Mountain Goods Headlines" activity in 8 provinces and 146 counties and cities within one year. (E-commerce News)

Cross-border information

7. Cross-border Good Luck and independent station SaaS enterprise Dianjiang Technology reach cooperation to focus on independent station merchant logistics fulfillment

This time, cross-border Good Luck and Dianjiang Technology will focus on the business scenarios of logistics fulfillment of independent station merchants, and use the capabilities of the platform to meet the merchants' multi-angle evaluation needs for the business scope, quality assessment, and fulfillment prices of multiple logistics service providers. According to reports, Dianjiang Technology has provided independent site SaaS solutions to more than 360,000 merchants around the world, covering a large number of brand e-commerce themes, convenient product order management operations, multi-channel marketing and promotion, smooth and secure settlement and other diversified enterprise-level solutions. (E-commerce News)

8. Amazon's revenue in the third quarter of 2022 is US$127.1 billion

According to reports on October 28, Amazon released its third-quarter financial report for the 2022 fiscal year. The report showed that Amazon's net sales in the quarter were US$127.101 billion, a year-on-year increase of 15%, and the market expected to be US$127.64 billion; net profit was US$2.872 billion, a year-on-year decrease of 9%, and the market expected to be US$2.23 billion. Earnings per share were $0.28, and expected $0.22. Amazon expects the company's net sales in the fourth quarter of fiscal 2022 will reach between $140 billion and $148 billion, a year-on-year increase of 2% to 8%. (E-commerce News)

9. Egypt's B2B e-commerce platform MaxAB completes US$40 million Series B financing

On October 27, MaxAB, a grocery B2B e-commerce and distribution platform that serves traditional retailers in Egypt and Morocco, recently announced a $40 million Series B financing, with investors including DisruptAD, ADQ, British International Investment, and Silver Lake, a private equity firm headquartered in Menlo Park. As of now, MaxAB's cumulative total financing amount has exceeded US$100 million. Since its inception in 2018, MaxAB has connected 150,000 traditional retailers in the food and grocery supply chain in Egypt and Morocco, delivering more than 2.5 million orders. Currently, Morocco accounts for only 10% of MaxAB business. (E-commerce News)

10. Shopify's revenue in the third quarter reached US$1.366 billion. GMV reached US$46.2 billion.

According to October 27, Canadian e-commerce platform Shopify released its third quarter financial report for 2022 as of September 30 today. Adjusted net loss was US$30 million, net profit of US$103 million in the same period last year; adjusted diluted loss per share was US$0.02, and earnings per share was US$0.08 in the same period last year. As of September 30, 2022, Shopify's monthly recurring revenue was US$107 million, an increase of 8% year-on-year; the total amount of commodity transactions was US$46.2 billion, an increase of 11% year-on-year; the total payment amount increased to US$25 billion, accounting for 54% of the GMV, compared with US$20.5 billion in the same period last year, accounting for 49%. Looking ahead, the company expects adjusted operating losses throughout the year. (E-commerce News)