#Laogao E-commerce Newsletter# [May 11 E-commerce Morning Newsletter]

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

E-commerce newsletter

1. Dada Group's revenue in the first quarter was 2.58 billion yuan. JD.com's annual transaction volume was 67.3 billion yuan.

On May 11, local instant retail and delivery platform Dada Group today released its unaudited first-quarter results for the 2023 fiscal year ended March 31, 2023. During the reporting period, Dada Group's total revenue reached RMB 2.58 billion, a year-on-year increase of 27%. The revenue of Dada Express Platform reached RMB 750 million, a year-on-year increase of 20%. The growth mainly comes from the increase in orders for the same-city instant delivery services provided to chain merchants. In the 12 months ended March 31, 2023, the total transaction volume of JD.com’s Dow Home Platform reached RMB 67.3 billion, a year-on-year increase of 37%. (Dada Group Blackboard Newspaper)

2. Kuaishou accepted 2,238 infringement reports in April 768 valid reports

On May 10, Kuaishou released the acceptance and disposal of infringement reports in April 2023. Kuaishou accepted a total of 2,238 infringement reports in April and 768 effective reports. Compared with last month, the total number of reports increased by 36.13%, and the effective reports increased by 52.38%. Among the reports received, privacy leaks, insults, insults, rumors, slander, copyright infringement, etc., accounted for 16.66%, 73.95%, and 9.38%, respectively. For reports received, the platform will quickly accept, verify and deal with them. Here we remind users to respect the legitimate rights and interests of others and consciously regulate their own words and deeds. (Kuaishou Blackboard Newspaper)

3. WeChat video accounts govern “fake identity” behavior: More than 2,400 fake identity video accounts have been dealt with

On May 10, WeChat Video Account issued an announcement on the governance of "fake identity" behavior. Recently, the video account security team has strengthened the inspection and crackdown on illegal content such as "fake identity". The above situation infringes on the identity rights and interests of others, and there are malicious marketing circumstances, which seriously violates the platform rules. From April 1 to May 8, 2023, after verifying the evidence of user complaints, the platform has dealt with more than 2,400 fake identity videos and more than 12,000 fake identity videos, and has blocked more than 400 related batch violation accounts. (WeChat Video Creation Security Center)

4. Gree: Meng Yutong has left and is not working in the company

On May 10, Gree Electric responded to the rename of its live broadcast room "Mingzhu Yutong Selection" to "Gree Mingzhu Selection", saying, "Meng Yutong has left and is not in the company." He also said that the personnel flow is normal and thanks to the outside world for its concern. In July 2021, in the program "We First Enter the Workplace", Meng Yutong was promoted to a regular place and was praised by Dong Mingzhu, saying that she met the successor standards. In December 2021, Dong Mingzhu and his secretary Meng Yutong appeared at the China Manufacturing Leaders Summit. At the event site at that time, Dong Mingzhu said, "We must train Meng Yutong to be the second Dong Mingzhu." (Cailianshe APP)

5. Kuaishou will release its first quarter financial results on May 22

5月10日消息，快手发布公告，本公司将于2023年5月22日 举行董事会会议，藉以考虑及批准本集团截至2023年3月31日止三个月之未经审核的第一季度合并业绩。（快手科技）

6. JD.com released the "2023 China Brand Development Trend Report"

JD Consumer and Industrial Development Research Institute released the "2023 China Brand Development Trend Report", which shows that from quantitative change to qualitative change, the growth of Chinese brands has shown the characteristics of dual upgrading of consumption and supply. From 2019 to 2022, among brands with a certain sales scale, the growth rate of transaction volume (multiple) of domestic products is 1.2 times higher than the growth rate of sales (multiple), and the growth rate of per capita consumption amount exceeds 70%. Consumers' spending on domestic products continues to increase, indicating that with the upgrading and change of the mass consumption structure, more high-quality and high-value Chinese brand products will be favored by consumers in 2022. At the same time, from the perspective of the growth of the number of brands and product types, the growth rate of product types in 2022 will be higher than the number of brands. More Chinese brands focus on expanding their own product lines to meet consumers' personalized and diversified needs. (Investors Network)

Internet news

7. Century Ruike plans to change its name to "Jiaoge Friend Holdings Co., Ltd."

Public information shows that in August 2022, Century Ruike signed a 5-year exclusive operation cooperation agreement with Beijing to officially establish a comprehensive cooperative relationship. According to the latest information of Tianyan Check, Beijing Jiaogefu Digital Technology Co., Ltd. has undergone industrial and commercial changes a few days ago, and its wholly-owned shareholder has been changed to Yijiang Future Technology (Hangzhou) Co., Ltd., which is 100% of the shares of Century Ruike. This shows that Century Ruike has completed the acquisition of making friends, and the assets of making friends have been officially injected into the listed company. (Century Ruike)

8. IQIYI founder and CEO Gong Yu: The core value of long videos is still content

According to May 10, at the 2023 "iQiyi World Conference" held on May 10, iQiyi founder and CEO Gong Yu said that the core value of long videos is still content. High-quality partners, excellent teams and advanced industrial management systems are the solid cornerstones for iQiyi to continuously output high-quality and diversified content. (Shanghai Securities News)

Cross-border newsletter

9. TikTok for Business will hold a brand e-commerce overseas marketing summit on May 18

TikTok for Business will hold the SHOPNOW brand e-commerce overseas marketing summit on May 18, and work with investment experts and overseas business owners to share their experience in overseas brand marketing and business operations based on the actual problems of brand overseas. The summit will be broadcast live simultaneously on TikTok for Business’s video account and TikTok account. (ENECNEWS)

10. Amazon licenses original works to third parties for the first time

Amazon Studios’ distribution team has been reorganized into a new unit, MGM Film and Television Distribution Company, which will license many of Amazon’s original movies and TV shows to media around the world for the first time, while expanding its licensable programs in its inventory of more than 4,000 movies and 17,000 episodes of TV shows. Amazon has previously distributed some original shows in limited quantities, but most of them belong to its own Prime Video platform. New division leader Chris Ottinger is a 15-year MGM distribution executive who joined the company when Amazon acquired MGM for $8.45 billion last year. (Yien.com)