#Laogao E-commerce Newsletter# [E-commerce Evening News on April 6]

Evening information:

1. 1688 added a 0-second return service rule for special business scenarios that have not been shipped;

2. Kuaishou accepted a total of 1,644 infringement reports in March;

3. In just 96 days, the national express delivery business volume exceeded 30 billion pieces;

4. Amazon will adjust its compensation structure and reduce employee equity incentives;

5. Tencent has acquired a stake in a New Oriental Online affiliated company, holding 9.99% of the shares...

Lao Gao provides everyone with the latest and most valuable Internet and e-commerce information every day.

E-commerce newsletter

1. 1688 added 0-second return service rules for special business scenarios not shipped

On April 6, 1688 added a 0-second return service rule for special business scenarios without shipment. 0-second return service for non-shipment without shipment. This means that the buyer did not click to ship the order within a certain time of order payment. The buyer initiated an unshipment and only refunded the refund, and the refund amount is within a certain amount. The refund does not require the merchant to respond. The system automatically executes the consent refund. The above specifications do not specifically specify matters and shall be implemented in accordance with the 1688 platform's "1688 Timeout Explanation Rules". (1688 platform rules)

2. Kuaishou accepted 1,644 infringement reports in March

In March 2023, Kuaishou accepted 1,644 infringement reports and 504 effective reports. Compared with February, the total number of reports increased by 20.49%, and the effective reports increased by 3.51%. Kuaishou stated that it will continue to improve the relevant disposal procedures and mechanisms for infringement reporting, strengthen the acceptance of infringement reporting, continue to play the role of user reporting mechanism, and protect the legitimate rights and interests of users. (Kuaishou Blackboard Newspaper)

3. In just 96 days, the national express delivery business volume exceeded 30 billion pieces

Monitoring data from the State Post Bureau shows that as of 8:00 a.m. on April 6, my country's express delivery business volume this year reached 30 billion pieces, 99 days ahead of 2019 and 18 days ahead of 2022. Data shows that the current daily volume of parcels collected and delivered by the express delivery industry exceeds 300 million, and its role in facilitating consumption, serving people's livelihood and driving the economy is becoming increasingly prominent. The express delivery industry has also accelerated the pace of high-quality development, made every effort to promote the "two in and one out" project, promote industrial integration and upgrading, and continuously improve the industry's ability to serve the industrial chain and supply chain. (Yien.com)

Internet news

4. Wang Huiwen’s AI startup company is open, located in Sohu Network Building

On April 6th, Wang Huiwen posted on her Moments today saying: "On the first day of the new office, cut a cake." This means that his AI startup is officially opened. Zhen Fund gave the opening flower basket. On February 13, Wang Huiwen posted an article on a social platform to announce her entry into the field of AI, saying that she would build China's OpenAI. Wang Huiwen said that in order to start a business, he invested $50 million and established Beijing Light Nianwai Technology Co., Ltd. with a valuation of $200 million. The next round of financing has already been subscribed by top VCs for US$230 million, so there is no need to worry about the funds. Wang Huiwen said 75% of his company's shares outside the light years will be used to invite top R&D personnel. (Sanyan Finance)

5. Yaowang Technology spent 68.5168 million shares to repurchase a total of 4.7556 million shares.

On April 6, Yaowang Technology issued an announcement that the company has repurchased a total of 4.7556 million shares of the company through centralized bidding, accounting for 0.52% of the company's total share capital, and the total amount of funds used is 68.5168 million yuan. (Yaowang Technology)

6. Yamato: Reiterate Tencent’s “buy” rating target price rose to HK$465

On April 6, Yamato released a research report saying that it reiterated Tencent's "buy" rating, and expected revenue growth to return to double-digit level this year, with the target price raised from HK$450 to HK$465, and its earnings forecast for fiscal 2023-24 by 1% to reflect the possible lower cost level. The report said that the company has no corporate restructuring plan. Management believes that because the group's advertising business continues to upgrade, all the benefits brought by the restructuring in 2018 have not yet been fully realized. The bank mentioned that although the group is cautious in increasing the payment commission rate, it is providing more value-added services to offline merchants and mini-programs to improve revenue sources. (Zhitong Finance Network)

7. Tencent has a stake in a New Oriental Online affiliated company, holding 9.99% of the shares

According to the news on April 6, Tianyancha App, the Tianyancha App recently, Beijing New Oriental Online affiliated company Beijing New Oriental Xuncheng Network Technology Co., Ltd. was renamed Beijing New Oriental Xuncheng Network Technology Co., Ltd., and the enterprise type was changed from other joint-stock companies to limited liability companies. At the same time, the new shareholder Linzhi Tencent Technology Co., Ltd. was added, holding 9.99% of the shares. New Oriental Education Technology Group Co., Ltd. holds 77.49% of the company's shares and is the largest shareholder. Beijing New Oriental Xuncheng Network Technology Co., Ltd. was established in March 2005. The legal representative is Sun Dongxu, with a registered capital of approximately 158 million yuan. (Tianyan Check)

8. Hurun’s global self-made U40 Rich List released: TikTok founder Zhang Yiming ranked second with a wealth of 250 billion yuan

On April 6, Hurun Research Institute released the "2023 Hurun Global Self-made U40 Rich List", showing that as of January 16, there were 59 billion-dollar entrepreneurs under the age of 40 and starting from scratch in the world. TikTok founder Zhang Yiming ranked second with a wealth of RMB 250 billion. ByteDance is the world's most valuable unicorn company with a valuation of more than 2 trillion yuan. According to the 2021 Global Unicorn List jointly released by Hurun Research Institute, Guangzhou Municipal Bureau of Commerce and Guangzhou Hi-Tech Zone. In June last year, Zhang Yiming donated 500 million yuan to his hometown Longyan and established the "Fangmei Education Development Fund". (Hurun Research Institute)

Cross-border newsletter

9. Amazon will adjust its compensation structure and reduce employee equity incentives

April 6 news, it is reported that on April 5, local time, an Amazon spokesperson said in an emailed statement that due to the uncertain economic environment, employee equity incentives will be reduced. A few weeks ago, Amazon announced its second round of massive layoffs. "We have made a decision to reduce RSU rewards in the last outlook year, with a small number of numbers," an Amazon spokesperson said in a statement, but did not state the deadline for the last outlook year. It is understood that Amazon plans to adjust its compensation structure in 2025, reduce employee equity incentives, and provide employees with more cash. The company will reevaluate its 2025 compensation in the first quarter of next year. (Interface News)

10. Tmall International will debut at the third Consumer Expo

According to April 6, the third China Consumer Products Expo will be held at the Hainan International Convention and Exhibition Center from April 11 to 15, 2023. Tmall International, which participated in the third Consumer Expo, will debut at the 1H-26 booth of Hall 1. Specifically, from April 11 to 13, there will be 4 new products, new trends and new cooperation releases in the stage area and 2 interactive experiences. It is understood that in early April, Tmall International held a spring cycling event to welcome the Asian Games at Qiandao Lake. This time, Tmall International directly moved the city cycling to the Consumer Expo. There is not only an immersive VR urban cycling experience on site, but also a 15S folding cloth challenge that tests hand speed. (China International Consumer Products Expo)