#Laogao E-commerce Newsletter# [November 7 E-commerce Morning News]

Morning News: Tmall Double 11 will add 88VIP large-scale consumption coupons to a total of 520 yuan off today; SHEIN hired top investment banker Tang Wei as executive vice chairman; China's cross-border e-commerce import and export scale has increased by 10 times in five years; Liu Qiangdong transferred equity of JD Books affiliated companies; it is reported that SHEIN's revenue this year is expected to reach US$24 billion...

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E-commerce newsletter

1. JD.com's first good start on 11.11, Luhua orders increased by 5 times

11月7日消息，今年京东11.11期间，鲁花的订单数量显著提升。“11.11开门红首日我们订单量较平日增长了5倍，在京东物流的保障之下，及时完成全部发货” 山东鲁花集团有限公司供应链相关负责人表示。据介绍，京东物流给鲁花提供的一体化供应链解决方案，帮助鲁花将仓储从生产地向销售地转化，分仓至全国六大仓，缩短与消费者距离，提升配送时效。（京东物流）

2. Jiuzhoutong B2B e-commerce platform revenue in the first three quarters of this year was 10.996 billion yuan

On November 6, Jiuzhoutong Pharmaceutical Group recently released its third-quarter report. From January to September this year, the company's operating income was RMB 102.946 billion, a year-on-year increase of 11.78%; net profit attributable to shareholders after deducting non-operating items was RMB 1.515 billion, a year-on-year increase of 15.08%. Jiuzhoutong's operating performance in the third quarter increased significantly, with operating income increasing by 16.10% year-on-year, net profit attributable to shareholders increasing by 101.86% year-on-year, and net profit attributable to shareholders deducting non-operating items increased by 20.98% year-on-year. The year-on-year growth rate in a single quarter accelerated, driving the company's overall performance to improve in the first three quarters. On the B-side, Jiuzhoutong B2B e-commerce platform's business revenue in the first three quarters of this year was 10.996 billion yuan, accounting for 10.69% of the company's main business revenue. (Official Jiuzhoutong)

3. Starting today, 88VIP large-scale consumption coupons will be reduced by 520 yuan.

On November 5th, consumers will log in to the Taobao App from 0:00 today and enter the main venue of Double 11. They can get up to 3 full-category consumption coupons with a total of "300-15". In addition, 88VIP users can also apply for two additional large-scale consumption coupons over "5000-400" and over "1500-120". It is understood that the above consumption coupons can be used in cash on November 11th. The rules for using this round of consumption coupons are consistent with the first round of large-scale consumption coupons. They are suitable for most physical products in Tmall Double 11, and can be stacked with "300-50" across Tmall stores, plus a 15% discount on 88VIP. (E-commerce News)

4. The first wave of sales for Tmall Double 11: Intangible cultural heritage live broadcast drives transaction volume of nearly 200 million yuan

On November 5, since the pre-sale of Tmall Double 11, more than 6,600 intangible cultural heritage stores have launched live broadcasts, with nearly 30,000 live broadcasts. Since the first wave of Tmall Double 11 sales started at 8 pm on October 31, the transaction volume driven by intangible cultural heritage live broadcast has been nearly 200 million yuan. Taobao and Tmall also provide a number of trainings for intangible cultural heritage merchants for free, and promote the growth of intangible cultural heritage merchants through projects such as "Taobao Craftsman". It is worth mentioning that during this year's Tmall Double 11, "Taobao Craftsman" specially set up a "Shenzhen List" for intangible cultural heritage craftsman stores. (E-commerce News)

Internet news

5. Liu Qiangdong transfers equity of JD Books affiliated company

On November 6, JD Group founder Liu Qiangdong recently transferred shares of JD.com company again. Tianyan Check information shows that there has been a industrial and commercial change in JD Books' affiliated company Jiangsu Yuanzhou E-Commerce Co., Ltd. recently, and Liu Qiangdong transferred his 45% stake in the company to Miao Qin, vice president of JD Group. It is worth mentioning that on October 27, Liu Qiangdong transferred his shares in JD.com, that is, Jiangsu Jingdong Bangneng Investment Management Co., Ltd. to JD.com Vice President Miao Qin. (Linkshop)

Cross-border information

6. my country's cross-border e-commerce import and export scale has increased by 10 times in five years

According to customs statistics, the scale of my country's cross-border e-commerce import and export has increased by nearly 10 times in five years. In order to ensure that cross-border e-commerce goods are delivered to customers in a timely manner, the "Dongguan-Liege" dedicated line of the China-Europe Highway has been officially launched recently. This year, cross-border e-commerce goods can be taken from Dongguan by large trucks, and follow this dedicated line of the China-Europe Highway to connect with the railway. You can reach Liege, Belgium in as early as two weeks. It is understood that the freight volume in some areas of this route has doubled, and merchants can also transport it through road to prepare stocks for overseas warehouses. Currently, the total overseas warehouse area in many areas of the United States has exceeded 50,000 square meters. (CCTV Finance)

7. SHEIN hires top investment banker Tang Wei as executive vice chairman

11月6日消息，有媒体报道称，为推进海外上市，中国时装公司SHEIN聘请了前贝尔斯登 投资银行家唐伟担任其执行副董事长。SHEIN估值在今年早些时候飙升至1,000亿美元。据了解，唐伟已经为SHEIN的联合创始人兼CEO许仰天担任了一年多的顾问。沈南鹏是SHEIN的主要投资人，他还支持了唐伟早期的一个项目。唐伟加入SHEIN是一个重要举措，能使这个今年有望创造近240亿美元收入的快时尚公司对国际投资者更具吸引力。据报道，SHEIN计划在纽约上市。（Forbes）

8. PingPong and Xinfengda have reached a cross-border cooperation to provide users with direct payment services

According to November 6, PingPong recently reached a cooperation with Shenzhen Xinfengda Cross-border Supply Chain Co., Ltd. The two parties will work together to provide users with direct payment services. In the future, PingPong users can directly pay service fees to Xinfengda in the account backend - payment service - service providers to pay service fees across the border to improve remittance efficiency and speed. PingPong's "Service Provider Payment" function advantages include improving payment efficiency, choosing to use the service provider wallet account to pay, and achieving payment in seconds; reducing the review time by about 15 working days per year; opening and using the "RMB wallet", and the transfer and withdrawal of RMB wallets are exempted; getting rid of the complicated material review procedures for supplier payments. (PingPong subscription account)

9. SHEIN's revenue is expected to reach US$24 billion this year

On November 6, media reported that people familiar with the matter revealed that SHEIN's operating income is expected to reach US$24 billion this year, just one step away from Zara's fiscal revenue as of US$27.6 billion in January this year. From February to July this year, Zara's revenue was approximately US$14.65 billion. In the past three years, SHEIN's performance has seen explosive growth: its GMV exceeded US$10 billion for the first time in 2020, with a growth rate of 250%; in 2021, this figure reached US$20 billion, and its own revenue was nearly US$16 billion. (PYMNTS)

10. Flipkart, an Indian e-commerce company owned by Walmart, will cut transactions and recruitment to control costs

On November 7, it is reported that Karyan Krishnamushi, CEO of Walmart's Indian e-commerce platform Flipkart, reportedly said last week that Flipkart will cut transactions and recruitment to control costs. Krishnamushi said the recent funding tightness in the global tech industry means Flipkart will end its ongoing acquisition activity for some time. Flipkart spent $500 million in a series of acquisitions to diversify its business and explore multiple areas from travel to online healthcare. Additionally, Flipkart will not lay off employees, but will "significantly reduce the number of people hiring." (Sina Technology)