#Laogao E-commerce Newsletter# [May 23 E-commerce Morning News]

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E-commerce newsletter

1. Kuaishou executives interpret financial report for the first quarter of 2023

According to Kuaishou executives on May 23, Kuaishou recently released its first quarter financial report for 2023 ended on March 31. According to the financial report, Kuaishou's revenue in the first quarter of 2023 was 25.22 billion yuan, a year-on-year increase of 19.7%; the adjusted net profit was 42 million yuan, a year-on-year turnover of losses into profits. After the financial report was released, Cheng Yixiao, founder and CEO of Kuaishou Technology, and Jin Bing, CFO, attended the subsequent financial report conference call to interpret the key points of the financial report and answer questions from analysts. It is reported that this is the first time since it was listed on the Stock Exchange in 2021 that it has achieved overall profit at the group level. Cheng Yixiao said: "This is driven by the high user indicators, revenue growth and operational efficiency improvements." Cheng Yixiao also revealed that the company has formed a large model research and development team, and relying on past technical accumulation in AIGC algorithms and large-scale language models to promote large model development and training as planned, and all the progress is smooth. "The current model is still in the training stage, and there is no clear plan to release it to the outside world." (Sina Finance)

2. Yaowang Technology: It will allow virtual anchors to "meet everyone" as soon as possible

According to May 22, at the 2022 performance briefing held today, Xie Rudong, chairman and general manager of Yaowang Technology, said that with the technical support of Xiaobing Company, the company's virtual people have made breakthroughs in interactivity and image actions. Yaowang Technology previously disclosed that its cooperation with Xiaobing Company will mainly start from two aspects: technology and product level cooperation and data resource cooperation. The two parties jointly develop, upgrade and improve new artificial intelligence technologies/products in the field of live e-commerce, including but not limited to product innovation and upgrading in the fields of virtual people, AI products, etc. (Cailianshe)

3. JD.com Home 618 will be opened at 8 pm on May 25

On May 22, the 2023 JD 618 launch conference was officially held. This year, JD.com Home Delivery 618 will be opened at 8 pm on May 25. Based on the 50% discount on good products, the 1-point purchase activity during the 618 period will be given limited benefits last weekend in 10 cities including Beijing, Shanghai, Guangzhou, etc. In terms of traffic operations that merchant brands are most concerned about, this year 618 JD.com launched the "Train MAX Plan" to provide traffic accelerators in resources, and provides tens of millions of exposure resource locations at the main venue of JD.com 618 promotion and the JD.com 618 venue. (Dada Group Blackboard Newspaper)

4. Taobao 618 billion subsidy is online

At present, more than 20 brands including Zhuimi, Xiaomi, Lenovo, Asus, Haier, Midea, etc. have cooperated with Taobao for 10 billion subsidies. For example, Zhuimi and Taobao have a subsidy of 10 billion yuan, launching an exclusive high-speed hair dryer, priced at 299 yuan. It is understood that Taobao's "10 billion subsidy" entrance has recently advanced from the middle channel position on the homepage to the independent icon position in the first row. At the same time, the merchant commission rate was significantly reduced, and commissions were directly exempted for the bottom-price products on the entire network. (Beijing Business Daily)

5. 1688 Merchant Growth System Upgrades New Customized Business Content

This adjustment was announced on May 19, 2023 and will take effect on May 29, 2023. This upgrade only involves changes in the product strength of the L system, and the thresholds, merchant rights and other merchant growth systems rules of different levels remain unchanged. According to the notice, this upgrade of the merchant growth system will mainly make adjustments on the product strength side. (1688 Rules Center)

6. Douyin Life Service Releases the Content Marketing Instructions

On May 22, Douyin Life Service recently released a "Content Marketing Instructions", which clearly defines the creative forms and content that the platform encourages and disenchants. According to the "Instructions", the core of judging content quality includes two dimensions: "painting style quality" and "decision information value". On the other hand, the "Instructions" also clarifies the criteria for judging low-quality content, including low-quality creative behaviors such as low-quality audio and video, material misuse, product sales and filming, small pictures and text advertisements, exaggerated interpretation, as well as material splicing, cloud editing related content, recording and live broadcast rooms, etc. (Tik Tok Life Service)

Internet news

7. China Youzan plans to acquire the remaining 48.1% of Youzan Technology's equity

On May 23, China Youzan issued an announcement that on May 23, 2023, the company intends to acquire approximately 48.10% of Youzan Technology's equity from the seller, with a total consideration of HK$2.619 billion, and will be paid by the company to allocate and issue a total of 14.55 billion consideration shares to the seller at the issue price of HK$0.18 per consideration shares at the time of completion. Consideration shares account for approximately 78.98% of the Company's existing issued share capital as of the date of this announcement and approximately 44.12% of the Company's issued share capital after the issuance and issuance of Consideration shares and Expense shares immediately after completion. (China has a thumbs up)

8. S&P: Alibaba's restructuring has temporarily neutral impact on group credit

The report pointed out that Alibaba will obtain new funds by spinning off some of its business groups to go public and plans to reduce expenditures of its loss-making subsidiaries, but because the business group's contribution to the group's overall profit and cash flow is minimal, the spin-off is unlikely to have a significant impact on Alibaba's credit status. S&P was surprised by Alibaba's decision to spin off its smart cloud business, because the cloud business is one of Alibaba's main pillar businesses. (Zhitong Finance)

Cross-border newsletter

9. ChatGPT tops the list in the free app rankings in iOS US

ChatGPT ranks first in the iOS free app rankings. According to reports, subscribers of ChatGPT Plus can enjoy GPT-4's system, priority access capabilities and faster response speed on their phones. In addition, this iOS app will expand to other countries or regions in the next few weeks. OpenAI also added that ChatGPT will also appear on Android phones soon. It is understood that the ChatGPT app integrates OpenAI's open source voice recognition system Whisper, which allows users to enter and ask questions. The ChatGPT app supports synchronizing history records across devices, but the history records of the web version and the application version are not interoperable. (Yien.com)

10. WhatsApp will launch sticker making tools soon

According to WaBetaInfo, WhatsApp is working on a new update that will allow users to create stickers in the app. This update is currently under development and no beta version has been released for testing. "This feature uses the iOS 16 API to extract topics from images and then automatically converts them into stickers in the app," WaBetaInfo said. The sticker tool will be available in the chat sharing action sheet. Users will be able to select photos from their gallery, and WhatsApp will provide them with some editing tools, including the ability to delete backgrounds. (ENECNEWS)