#Laogao E-commerce Newsletter#[November 23 E-commerce Evening News]

Evening News: Wenzhou added 476 Taobao villages and 45 Taobao towns; Liaoning's express delivery business volume in the first 10 months reached 1.394 billion pieces; Douyin Life Service launched the Xindongxi season hot list; Luo Yonghao AR company Xihong Line Technology completed about US$50 million in angel round financing led by Meituan Longzhu; Amazon founder Bezos donated US$123 million to solve the problem of homelessness...

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E-commerce newsletter

1. Wenzhou has added 476 Taobao villages and 45 Taobao towns.

According to November 23, in 2022, 476 villages in Wenzhou won the title of National Taobao Village in 2022, with the number of Taobao villages increasing by 11.5% year-on-year, ranking second in the province. In the next step, Wenzhou will actively explore and cultivate provincial demonstration e-commerce live broadcast "Common Rich Workshop", improve new service scenarios for Taobao villages and Taobao towns, promote the e-commerce policy guarantee system, strengthen agricultural product brand cultivation, optimize the rural e-commerce public service system, cultivate rural e-commerce talents, strengthen rural live e-commerce compliance guidance, and help the high-quality development of the rural e-commerce industry. (Released in Wenzhou)

2. Luo Yonghao AR company Xihong Line Technology completed an angel round of financing of about US$50 million and led by Meituan Longzhu

On November 23, Luo Yonghao's AR startup Xihong Line Technology announced that it had just completed an angel round of financing of about US$50 million recently, with a post-investment valuation of about US$200 million. This round of financing was led by Meituan Longzhu, followed by investment institutions such as Lanchi Venture Capital, Lenovo Venture Capital, Jingwei Venture Capital, DJI Innovation, ATM Capital, as well as well as well-known figures in the technology industry such as Li Wanqiang and Wu Yongming. Chuangling Capital serves as the financing consultant. Xihong Line said that the company was established in June 2022 and is committed to building the next generation of personal computing device platform after smartphones. (Thin Red Line Technology)

3. Liaoning's express delivery business volume reached 1.394 billion pieces in the first 10 months

On November 23, the Liaoning Provincial Postal Administration recently announced the operation of the postal industry in the province from January to October 2022. Among them, in October, the business volume of postal delivery service in Liaoning Province reached 208 million pieces, a year-on-year decrease of 0.64%; the business volume of express delivery service enterprises in the province reached 151 million pieces, a year-on-year increase of 4.79%; the business volume of postal delivery service was 56.819 million pieces, a year-on-year decrease of 12.69%. In terms of business segments, from January to October, Liaoning Province's totaled 245 million units, a year-on-year increase of 7.04%; off-site business volume reached 1.147 billion units, a year-on-year increase of 5.16%; international, Hong Kong, Macao and Taiwan's totaled 1.6663 million units, a year-on-year decrease of 51.39%. (E-commerce News)

4. Douyin Life Service launches the Heart-watching Season Hot List

According to November 23, starting this week, Douyin Life Service will launch a hot list around the "Heart-watching Season", opening weekly and quarterly lists, covering three major industries: catering, hotel and tourism, and in-store comprehensive industries. The weekly list includes the weekly list of hot-selling brands, the weekly list of hot-selling products, and the weekly list of hot-selling experts live broadcast rooms. It releases brands, products, experts, etc. that have outstanding performance in the weekly GMV in the "Shengsy Season" event, and at the same time helps more brand merchants understand the marketing and consumption trends of the "Shengsy Season". (Tik Tok Life Service Business Observation)

Internet news

5. Suning.com established Suning.com

According to the news on November 23, Tianyancha App, Jiangsu Suning Yiyi Technology Co., Ltd. was established on November 22. The legal representative is Xu Hongping, with a registered capital of RMB 10 million. The business scope includes: sales of Class I and Class II medical devices; corporate management consulting; hospital management; information system integration services; daily necessities sales; clothing and clothing wholesale; production and operation of Class III medical devices, etc. The equity penetration diagram shows that the company is jointly owned by Suning.com Group Co., Ltd. and Jiangsu Biying Technology Co., Ltd. (E-commerce News)

6. JD.com and iFlytek signed a strategic cooperation agreement

According to November 23, JD.com recently signed a strategic cooperation agreement with iFlytek. The two parties will give full play to their respective resource advantages and technical advantages, conduct in-depth discussions and cooperation in the fields of digital cities and digital economy, cloud services, retail consumer business, smart logistics, enterprise and employee services, and work together to build a comprehensive and sustainable strategic partnership. Under the current environment, building an ecological community and achieving diversified and win-win industries will bring new development space to both sides. (JD Cloud)

7. CITIC Securities: Maintain the target price of JD Logistics' "buy" rating of HK$22

On November 23, CITIC Securities released a research report saying that it maintains JD Logistics’ “buy” rating, and in the long run, it is expected that profits will increase significantly. The core net profit margin is expected to reach 1.5% in 2024, with a target price of HK$22. The company achieved a non-ifrs net profit of 450 million yuan in Q3 2022, turning a loss year-on-year. During the same period, the proportion of external revenue increased to 69.5%, and at the same time, the bank also planned to expand live e-commerce logistics. The bank expects that the proportion of revenue in this sector may continue to increase. In addition, the gross profit margin in 2022Q3 increased by 2.5pcts year-on-year to 7.4%. It is expected that with the release of economies of scale, the upgrading of service capabilities and the continued cost management, the profit level is expected to further improve. (Zhitong Finance)

8. JD Logistics and Orchid Group signed a strategic cooperation agreement on Nancun Smart Logistics Park project

On November 23, the Jincheng Urban People's Government, Orchid Group, China Construction Seventh Bureau Fourth Company, and JD Logistics recently successfully signed a strategic cooperation framework agreement for the Nancun Smart Logistics Park project at Orchid Building. According to reports, the investment of the project is estimated to be about 200 million yuan, with a construction period of 36 months. The Jincheng Urban District People's Government provides policy support for the project; Orchid Group and China Construction Seventh Bureau Fourth Company are responsible for the investment and development and construction of logistics park projects; JD Logistics participates in project cooperation through technology empowerment, providing services such as preliminary planning of the entire project, park information construction, and software and hardware integration in the warehouse. (Invest in Jincheng)

Cross-border newsletter

9. News says TikTok's turnover in France will reach 29.6 million euros in 2021

On November 23, media reported that people familiar with the matter revealed that TikTok's turnover in France reached 29.6 million euros in 2021, an increase of 11.5 times compared with 2.5 million euros in 2020. The surge in new users during the epidemic lockdown has driven this growth. This is the first time that TikTok has disclosed its operating data in France. TikTok's profit in France reached only 415,000 euros. In addition, TikTok paid 172,000 euros in taxes in France last year. It is understood that TikTok has 19.5 million monthly active users in France, accounting for nearly two-thirds of the country's social media advertising market, and the French social media market accounts for 3% of the entire Europe. (E-commerce News)

10. Amazon founder Bezos donated $123 million to solve homelessness

On November 23, Amazon founder Jeff Bezos announced that he recently provided 40 donations totaling $123 million to solve the problem of homeless people. According to reports, on Tuesday local time, the Bezos First Day Fund announced that it would provide $123 million in grants to 40 organizations across the United States. It is understood that Bezos Day One Fund was launched in 2018, and Bezos promised $2 billion to help homeless families and build kindergartens in low-income areas. Not long ago, Bezos said in an interview that he would donate most of his wealth to charities. (E-commerce News)