#Laogao E-commerce Newsletter# [E-commerce Evening News on April 27]

       #Laogao E-commerce News# [E-commerce Evening News on April 27] 1. Alibaba’s number one investor resigns; 2. JD.com and iQiyi have reached a cooperation to achieve mutual exchange of member rights and interests; 3. It’s decided! The first strategic cooperation company in Hainan Free Trade Zone finalized Alibaba; 4. SF Express established a joint venture with 8 supply chain companies; 5. Boycotted by netizens, Balenciaga was accused of discriminating against Chinese people and was deeply involved in a public opinion crisis; 6. Baidu's Q1 profit increased by 277% and its AI business grew strongly...

       E-commerce newsletter

   　1. Alibaba's top investor resigns

   　Beijing time on the morning of April 27, according to the American technology blog ReCode, Alibaba's number one investor, Michael Zeisser, has resigned from the company. Alibaba's vice chairman Tsai Chongxin announced the resignation of Tsai Se in an internal memorandum last weekend, the report said. According to people familiar with the matter, Tsai Chongxin and Tsai Se had differences in investment strategies. (Source: NetEase Technology)

Alibaba's top investor resigns

   　2. JD.com and iQiyi reach a cooperation agreement to achieve mutual communication of member rights and interests

   　On April 27, the interoperability of member rights between JD.com and iQiyi was officially launched. It is understood that this is another active cooperative exploration carried out by the two companies in the paid membership field after reaching the strategic cooperation of the "Beijing Ai Plan" in the field of precision marketing. The achievement of the mutual cooperation between JD and iQiyi membership rights means that the two leading companies in China's retail and entertainment fields will work together to further provide better experience and services to both members, while opening up new high-value spaces. (Source: Lianshang.com)

 JD.com and iQiyi reach cooperation to achieve mutual communication of member rights and interests

   　3. It’s settled! Hainan Free Trade Zone's first strategic cooperation company finalizes Alibaba

   　After the central government announced the establishment of a pilot free trade zone and a free trade port with Chinese characteristics across Hainan Province, Hainan finalized its first strategic cooperative enterprise: Alibaba. On the morning of April 27, the Hainan Provincial Government signed a framework agreement for comprehensively deepening strategic cooperation with Alibaba Group and Ant Financial Group.

   　Alibaba Chairman Jack Ma said at the signing ceremony: Hainan’s future free trade will be driven by new ideas and new technologies, and digital trade based on the Internet. The focus of Alibaba's participation in Hainan's continued reform and opening up construction is to build Hainan into a digital port and establish a digital economy foundation for a free trade port. And at the same time, they participated in the country's "three major battles". (Source: NetEase Technology)

   　4. SF Express has established a joint venture with 8 supply chain companies

   　Private express delivery company SF Express announced that Shenzhen SF Express Investment Co., Ltd., a wholly-owned subsidiary of the group, will invest in the establishment of a big data operation platform with eight supply chain companies, namely Shenzhen Oriental Jiasheng Supply Chain Co., Ltd., Shenzhen Pegasus International Supply Chain Co., Ltd., Shenzhen South China City Investment Co., Ltd., Shenzhen Langhua Investment Holding Co., Ltd., Shenzhen Pulutong Supply Chain Management Co., Ltd., Tengbang Holding Co., Ltd., Shenzhen Yiyatong Supply Chain Co., Ltd., and Shenzhen Yuehai Global Logistics Co., Ltd.

   　The joint venture will be committed to building the most influential supply chain big data platform in China, and through technological innovations such as big data and artificial intelligence, we will promote the establishment of a modern supply chain system and create an innovative smart supply chain. (Source: NetEase Technology)

   　Internet news

   　5. Boycotted by netizens, Balenciaga was accused of discriminating against Chinese people and was deeply in a crisis of public opinion

   　The Paris Spring Department Store in France released the popular Balenciaga "dad shoes" yesterday, which triggered a rush of queues. According to netizens, a Chinese female consumer was threatened by the latter for accusing foreigners of line-leading. When the woman's son arrived, the two were innocently beaten by several foreigners. A Chinese witness pointed out that the security guards did not punish the line-leading people and instead allowed them to buy new shoes. The Balenciaga clerk also insulted the Chinese who were queuing in line and shouted: Get out and don't come to buy shoes again. Up to now, the entire incident has been recorded and uploaded to multiple social media such as Weibo by some Chinese consumers who participated in the queue. Although the store manager of Paris Spring Department Store posted an apology through Instagram yesterday, domestic netizens have issued calls to boycott Balenciaga. (Source: Fashion Headlines)

   　6. The inventory backlog is too high, and Apple plans to produce only 8 million iPhone Xs in the second quarter

   　According to Fast Company, supply chain reports that Apple plans to produce only 8 million iPhone Xs in the second quarter of 2018. Apple ordered too many iPhone Xs in the last quarter of 2017, and now the company is trying to digest the stock backlog in dealers, people familiar with the matter said. TechWeb)

   　7. Hong Kong media said that Xiaomi went to Hong Kong next week to submit an IPO application for Chinese and foreign sponsors have been selected

   　According to people familiar with the matter, Xiaomi is currently preparing for Hong Kong stock IPO-related matters, and the sponsors of this listing are Goldman Sachs, Morgan Stanley and CITIC. Yesterday, Hong Kong Caihua News Agency released a report saying that market news pointed out that Xiaomi will submit an application for listing in Hong Kong next Monday, hoping that its valuation can reach US$90 billion to US$110 billion after the IPO. It happened that the Hong Kong Stock Exchange will first recommend "same shares and different rights" next week, so Xiaomi may become the first batch of shares with different rights. (Source: Interface)

   　8. Baidu's Q1 profit increased by 277% and its AI business grew strongly

   　Baidu released its first quarter financial report for 2018, and the implementation process of AI commercialization has been further accelerated. Baidu's revenue for the quarter was RMB 20.9 billion (approximately US$3.33 billion), a year-on-year increase of 31%. Net profit was 6.7 billion yuan (approximately US$1.1 billion), a year-on-year increase of up to 277%. As the center of Baidu's business ecosystem, Baidu's artificial intelligence business grew strongly in the first quarter, and its AI technology research and development capabilities were further strengthened. (China News Service)

   　Cross-border e-commerce

   　9. Ant Financial helps Bangladesh create a local version of Alipay: Promote Chinese solutions

   　Bangladesh mobile payment companies bKash and Ant Financial announced a strategic cooperation in Dhaka, the capital of Bangladesh on the 26th. Ant Financial will share technology and experience and work with bKash to create a local version of Alipay to provide local consumers with more convenient and secure digital financial services.

   　It is reported that after the two parties reach a strategic cooperation, bKash will soon introduce mature Chinese mobile payment solutions including QR code payment. (Source: Xinhuanet)

Ant Financial Helps Bangladesh to Create Local Version of Alipay: Promote Chinese Solutions

   　10. Amazon retail and cloud computing have developed strongly, with stock prices hitting record highs after the market

   　According to Reuters, Amazon's latest financial report showed that in the first quarter of 2018, ended March 31, Amazon's net profit was US$1.629 billion, and its diluted profit per share was US$3.27, surpassing analysts' previous average expectations of US$1.26, and its net profit was US$724 million in the same period last year and its diluted profit per share was US$1.48. Total sales rose 43% to $51 billion in the quarter, surpassing analysts' average expectations of $49.8 billion, compared with $35.7 billion a year ago.

   　The company's development in retail and cloud computing businesses has shown no signs of slowing down. Amazon's first-quarter sales and profit increased significantly, both exceeding expectations, and its outlook is optimistic, bringing many surprises to investors. (Source: NetEase Technology)

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