#Laogao E-commerce Newsletter# [May 25 E-commerce Evening News Brief]

Evening information:

1. Douyin e-commerce starts pre-sale of 618;

2. JD.com Home 618 will be officially opened at 8 o'clock tonight;

3. Toutiao business adjustment: upgrade and launch "TikTok Encyclopedia" and "Second True Question and Answer";

4. Zhang Zetian appeared at the Cannes dinner, representing JD.com's fashion luxury brand;

5. AliExpress 618 promotional investment is launched;

...

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E-commerce newsletter

1. Meituan's revenue in the first quarter was RMB 58.62 billion, up 26.7% year-on-year

On May 25, Meituan released its first quarter financial report for 2023. According to the financial report, Meituan's revenue in the first quarter was 58.62 billion yuan, compared with 46.27 billion yuan in the same period last year, and the market expects 56.481 billion yuan. Net profit was RMB 3.36 billion, and the market estimated loss was RMB 210.4 million. In the first quarter, core local commercial revenue increased by 25.5% year-on-year to RMB 42.9 billion, operating profit increased by 100.7% year-on-year to RMB 9.4 billion, while operating profit margin increased by 13.8% in the same period in 2022 to 22.0%. The number of instant delivery transactions increased by 14.9% year-on-year. (Snowball)

2. Kuaishou and Zhengshun Haofang reach cooperation to develop new live house selling business

On May 25, Kuaishou announced the establishment of a cooperative relationship with Zhuhai Zhengshun Haofang today. Based on Kuaishou's real estate business platform Idealer, the two parties will jointly train new types of professional real estate anchors and explore new models of live selling and online marketing transactions for new houses. Public information shows that Zhengshun Haofang is a comprehensive real estate service provider mainly engaged in second-hand housing purchase and sale, first-hand housing marketing, property leasing and custody, and has more than 100 direct and franchise stores, covering Zhuzhong, Hainan, Kunming and Hong Kong. As of the first quarter of 2023, the total cumulative real estate transaction volume exceeded 8 billion yuan. (Shanghai Securities News)

3. JD Home 618 officially opens at 8:00 tonight

On May 25, JD.com 618 was launched simultaneously on JD.com and JD.com 2018, and more than 2,000 counties, districts and cities across the country, will participate in it. Consumers can place an order through the JD Home APP, or click on the same city channel on the homepage of the JD App. Any product with the "hourly shopping" logo can enjoy 1-hour home delivery service, whether it is a daily life department store, wine and flowers, personal care and beauty, 3C digital, home appliances and home furnishings. On June 3, JD.com joined hands with Apple to create a live broadcast event, with the highest discount of the iPhone 14 Pro series in the live broadcast room of 1,500 yuan. On June 10, JD.com will also join hands with brands such as Xiaomi, Wufangzhai, Unilever, Tyson, Shushida, Hengan, and Liberald. The presidents will form a live broadcast group to jointly distribute benefits. During JD.com's 618 this year, the "1-cent purchase" event will be launched in Beijing, Shanghai, Guangzhou, Shenzhen, Chengdu, Tianjin, Wuhan, Changsha, Xi'an and Chongqing. Consumers have the opportunity to enjoy the limited benefits of 1-cent good goods. (Dada Group Blackboard Newspaper)

4. Douyin e-commerce starts pre-sales of 618

On May 25, Douyin e-commerce started pre-sales of 618 today. From now until 23:00 on May 30, consumers can select their favorite products in the pre-sale area and pay a deposit. The payment period for pre-sale products will be from May 31 to June 2. When the payment of the final payment, you can combine the payment with other products in the shopping cart, and additional discounts such as cross-store discounts and consumption coupons can be added. The pre-sale area has launched a variety of consumption coupons with denominations such as 10% off for every 100 yuan, 30% off for every 300 yuan, and 100 yuan off for every 100 yuan. In addition, "alleviation of allergy" for beauty, personal care and other products has been launched, and "bad and damage of fresh food, green plants and other products have been guaranteed. (Tiktok e-commerce)

Internet news

5. Zhang Zetian appeared at the Cannes Dinner, representing JD.com's fashion luxury brand

On May 25, Zhang Zetian appeared at the Chopin Dinner a few days ago to support JD's fashion and luxury goods business. In recent years, JD.com's fashion and luxury goods business has grown rapidly. Many brands have chosen to join hands with JD.com to deeply deploy in the Chinese market. Currently, more than 400 official flagship stores of luxury goods brands have settled in, including LVMH Group's brands CELINE, FENDI, and Kering Group's brand Bottega Veneta. In 2022, JD Luxury has successively welcomed LVMH Group's brands CELINE and FENDI, becoming the first company to reach a comprehensive cooperation with nine top fashion brands under LVMH Group. (Titanium Geek)

6. China Merchants Bank International: Maintain the target price of Tongcheng Travel's "buy" rating of HK$24.5

On May 25, China Merchants Bank International released a research report saying that it maintained the "buy" rating of Tongcheng Travel, with performance exceeding expectations in 1Q23, and strong guidance in 2Q23. It is expected that revenue in 2Q23 will increase by 108% year-on-year, due to low base, release of travel demand and strong holiday data, with a target price of HK$24.5. By business, the company's hotel business is expected to grow by 75% year-on-year in 2Q23, mainly driven by the number of room nights. Transportation/other revenue is expected to increase by 130%/132% year-on-year. The bank said it is optimistic about the company's V-shaped rebound in 2Q23 and is looking forward to its growth faster than the industry in the long run. The company's net profit in 2023-25 ​​was also increased by 5%-10% to reflect a faster-than-expected recovery pace. (China Merchants Bank International)

7. Toutiao business adjustment: upgrade to launch "TikTok Encyclopedia" and "Second True Question and Answer"

According to reports on May 25, Toutiao has made adjustments to some businesses. On the other hand, it has launched a new Q&A business "Second Q&A", which can be seen on TikTok and Toutiao. The Mixed Q&A is a brand new Q&A business launched by Toutiao. It is similar to the previous Wukong Q&A. Users can not only ask questions, but also answer questions. The types of Q&A include food, entertainment, education, fashion, cars, games and society. Mixed-True Q&A has become the third product to explore in the Q&A business after Wukong Q&A and Toutiao Q&A. (Tech Planet)

Cross-border newsletter

8. AliExpress 618 promotion starts

On May 25, AliExpress (AliExpress) 618 summer sales promotion has been launched. AliExpress will continue to improve its service experience and arrival time, including increasing logistics subsidies. Specifically, AliExpress 618 investment promotion starts in mid-May and lasts until June 6. The preheating will be launched on June 10 for 2 days; the official sales period for 7 days will be launched on June 12 and will end on June 18. Price control starts from May 12 to end from June 25, a total of 45 days. Note that all are Western time. It is worth mentioning that AliExpress and Cainiao will upgrade the logistics route for free. In 15 key countries, new users can enjoy 3 free upgrade opportunities for logistics routes; in 33 countries, new users can enjoy free upgrade services for some logistics routes when placing an order for the first time; in 15 key countries, "post-purchase upgrade tasks", users will receive the task of "placing another order to upgrade logistics" after placing an order to promote additional purchase conversion. In addition, AliExpress recently launched an overseas warehouse custody model. This 618 fully custody product can be stocked for the first time to prepare for the overseas warehouse in the Western France and Poland. At the same time, AliExpress also cooperated with Cainiao to subsidize the first-course freight difference in hot products that meet the conditions, and upgraded railway logistics to air freight for free. (Yien.com)

9. eBay establishes a partnership with Romanian Post

On May 25, eBay announced a partnership with Romania Post, which will help local small and medium-sized enterprises sold on its platform establish cross-border operations and export products to 190 countries. The platform will be operated from June 1 to promote export operations for Romanian SMEs. According to reports, Romanian companies that join the "e-export nation" platform will receive strong support from eBay, including a series of tools and products. In addition, consumers who purchase products from Romanian sellers, who choose Posta Romana shipping service, can receive the items at the cheapest price and in the shortest time. (eBay)

10. Shopify Markets Pro tariff and tax display adjustments

May 25th news Shopify Markets Pro extends the capabilities of tools provided by Shopify Markets, for example, Shopify Markets supports estimating tariffs and taxes at customer checkout. Starting from March 28, 2023, the way taxes are displayed in Shopify Markets Pro expenses has changed. Import taxes and tariffs collected from customers will no longer be shown as expenses in the expenditure report, and this part will appear separately as line items. Tariff and tax transactions will only be displayed after the order is completed. This update is only applicable to new orders placed on Shopify Markets Pro. (Shopify e-commerce independent site service number)