#Laogao E-commerce Newsletter# [E-commerce Morning News on June 30]

Morning information:

1. Meituan announced the acquisition of Light Year Away;

2. TikTok launched the "Fan Erashes, Restrictions on Following" function;

3. Taobao Alliance launches Union AI Lab intelligent promotion platform;

4. Dewu will launch the "New Business Plan" to help brands obtain new business growth;

5. Media said that e-commerce Shein applied to go public in the United States and said that she "denied these rumors";

...

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

E-commerce newsletter

1. TikTok launches the "Fan Erasing, Restricting Follow" function

On June 29, Douyin issued an announcement stating that in order to regulate user behavior, improperly obtain fans' accounts, and build a more realistic and beautiful community ecology, Douyin formulated the "TikTok Violation of Fans Governance" in accordance with the "Regulations on the Management of Internet User Account Information" and "TikTok Community Self-Discipline Convention" and other laws and platform rules, and will officially take effect on July 3, 2023. Douyin said that on the platform, fan relationship is one of the basis for creators to connect and interact with users and an important part of the community ecology. However, some self-media accounts have released a large number of homogeneous content, forged false personalities, and hot social hot spots in order to attract traffic and fans' attention, destroying the community ecology and the experience of other users. In accordance with the requirements of the "Specification", when creators use content releases, comments and interactions, setting user information, etc. to gain fans' attention to the account, they must not "create false personalities" or "post vulgar content". According to the "Specifications", if an account violates laws and regulations and the requirements of the "Specifications", in addition to punishing the content or account, the platform will also deal with the following disposals on the number of fans or related functions of the account based on the violation, the impact caused, etc.: erase fans obtained by the account through illegal content or violations; clear all fans of the account; restrict the account from being followed by others. (Tik Tok Blackboard Newspaper)

2. Meituan announced the acquisition of Light Years Away

It is reported that Light Away is China's leading AGI innovator, founded and controlled by Wang Huiwen, co-founder of Meituan, former director of the company and connected person. As of the date of this announcement, the total net cash position of the Group outside the light years was approximately US$285 million. The announcement stated that through the acquisition, the company has the opportunity to strengthen its competitiveness in the rapidly developing artificial intelligence industry and better fulfill the group's mission of "helping everyone eat better and live better". (Meituan)

3. Taobao Alliance launches Union AI Lab intelligent promotion platform

On June 29, Taobao Alliance launched the Union AI Lab intelligent promotion platform for the majority of ecological partners, deeply combining the actual promotion links of Taobao customers, and bringing business upgrades to promoters from many aspects such as product selection establishment, promotion suggestions, material generation, and business guidance. Users only need to describe their needs in concise natural language, and Union AI Lab can provide easy-to-understand feedback. In addition, users can also provide feedback on preferred materials, and Union AI Lab can also perform high-precision imitation for specific material types. (Taobao customer)

Internet news

4. Dewu will launch the "New Business Plan" to help brands gain new business growth

According to June 29, the first stop event of the "2023 Dewu City Tour" hosted by the Guangdong E-Commerce Association and Dewu App was held in Guangzhou on June 28. At the event, Tracy, the head of Dewu platform, shared "Insights in the consumption trend of post-95s on Dewu App", and said that in order to help more brands and young consumers connect and obtain new business growth, Dewu App will launch a "New Business Plan". Through traffic support, special subsidies, open private domains, operation support, etc., focusing on the growth of merchants in Dewu, it will continue to invest and make efforts in consumer brands and categories that young people are interested in, such as trendy shoes, watch packaging accessories, clothing, beauty makeup, sports outdoors, digital, home appliances, and home furnishings, continuously improve user consumption experience, and help more brands obtain new business growth. Public data shows that the penetration rate of Dewu App among the post-95 people is as high as 70%. They have strong consumption capacity and high payment willingness. The average unit price of pieces on the platform is nearly 5 times the industry average. (Lianshang.com)

5. Xiaomi Group repurchases 2.3 million shares and involves 24.91 million yuan

According to the report on June 30, Xiaomi Group's financial statements disclosed that on June 29, 2.3 million shares were repurchased on the Stock Exchange, with a price of between RMB 108-10.86, involving a total amount of approximately RMB 24.91 million. Since the general resolution was passed, a total of 29.3 million shares have been repurchased, accounting for 0.12% of the company's share capital. (Futu Niu Niu)

6. Saudi Arabia's unemployment rate fell to 5.1% in the first quarter

Official data shows that Saudi Arabia's employment targets proposed in Vision 2023 have achieved results, with the overall unemployment rate in the first quarter of 2023 falling by 0.9 percentage points to 5.1%. In the first quarter of 2023, Saudi Arabia's female labor force participation rate rose by 2.4 percentage points year-on-year to 36%, remaining unchanged compared with the last quarter of 2022. The labor force participation rate and employment ratio of Saudi men fell by 0.2 percentage points and 0.5 percentage points, respectively, to 68.3% and 65.2%. In addition, 74.7% of Saudi unemployed women and 88.6% of Saudi unemployed men said they would accept work for 8 hours or more a day. (ENECNEWS)

7. Zhou Hongyi: The competition for big models lies in the corporate-level market dividends just beginning

On June 29, Zhou Hongyi, founder of 360 Group, said in Chongqing on the 29th that the big model should "lower its figure" and position it as an intelligent empowerment tool. The competition for the big model lies in the enterprise-level market, and the dividends have just begun. Zhou Hongyi believes that developing the digital economy is a national strategy, and the biggest opportunity is industrial digitalization, and big models are an important tool for industrial digitalization. The big model is a digital "power plant", which processes big data into "electricity" and transmits it to hundreds of industries, rather than operating systems, and will become the standard configuration for every digital system in the future. (China News Network)

Cross-border newsletter

8. The US FTC will file a heavy antitrust lawsuit against Amazon's e-commerce business

June 30th news, it is reported that the FTC will file a far-reaching antitrust lawsuit in the coming weeks, focusing on the online market business in Amazon's core e-commerce business, namely third-party e-commerce business. The FTC will accuse Amazon of using its market dominance to favor online merchants using its logistics services and punish those who do not use its logistics services. The ultimate goal of FTC is to reorganize Amazon. (Wall Street News)

9. Media said that e-commerce Shein applied to go public in the United States and said she "denied these rumors"

According to June 30, some media recently reported that e-commerce Shein applied for an IPO in the United States. Media quoted people familiar with the matter as saying that Chinese online fashion retailer Shein, a valuation of more than $60 billion, has submitted an IPO registration application to the U.S. Securities and Exchange Commission. If Shein can make a successful IPO, it will become the Chinese company with the highest value in listing in the United States since 2021. The company's listing could be completed by the end of 2023, the source added. Shortly after the media broke the news, a Shein spokesman said in an email that the company "denied the rumors." (Sina Finance)

10. Dunhuang.com upgrades the fund account system

On June 29, Dunhuang.com issued an announcement stating that due to the upgrade of the fund account system, the modification of the fund account bank account and cash withdrawal services were suspended for 30 minutes, and it is expected that normalcy will be restored after 16:30 on June 30, 2023. (Dunhuang.com)