1、Best Express may undergo privatization, as Alibaba's Cainiao and others have submitted a buyout proposal.
On November 7th, it was announced that Best Express Group may undergo privatization, as the company's board of directors has received a preliminary non-binding privatization proposal dated November 3, 2023. The proposal originates from Best Express Group's founder, chairman, and CEO Zhou Shaoning, along with the company's chief strategy and investment officer, Zhou Shaobian, as well as a buyer consortium including Alibaba and Cainiao.
According to the proposal, the consortium of buyers intends to acquire all issued common shares of the company for $0.144 per Class A common share, or $2.88 per American Depositary Share (each representing 20 Class A common shares) in cash, including Class A common shares not yet beneficially owned by the buyer consortium.
Source: Xinsheng
2. Construction Starts on Zhongtong Hainan Headquarters and Air Logistics Hub Project
On November 7th, construction commenced on the Zhongtong Express Hainan Headquarters and Air Logistics Hub project in the Jiangdong New Area of Haikou's Airport Economic Zone. The total investment in the project is approximately 260 million yuan, and it is scheduled to be completed by August 2024.
The Zhongtong Hainan logistics hub project is positioned as a logistics warehousing and sorting center, with a total land area of about 65 acres and a planned total construction area of about 69,000 square meters. This includes an above-ground construction area of about 65,000 square meters and an underground area of about 4,000 square meters.
Source: Hainan Daily
3. Southern Air Cargo Opens New Guangzhou-Anchorage-New York Freight Route
On November 7th, a Boeing 777 freighter loaded with over 100 tons of cargo took off from Guangzhou Baiyun International Airport, made a stopover in Anchorage, USA, and successfully arrived in New York. This marks the official opening of Southern Air Cargo's regular freight route between Guangzhou, Anchorage, and New York.
The route operates four flights per week, further facilitating trade between China and the United States, ensuring the stability of global supply chains, and advancing the realization of high-level opening-up.
Source: Southern Airlines Logistics
4. Cainiao Partners with AliExpress to Upgrade International Express Logistics in the Middle East, North America, and Brazil
On November 7th, Cainiao and AliExpress jointly upgraded international express logistics solutions in the Middle East, North America, Brazil, and other regions, allowing global consumers to enjoy the "fastest Singles' Day ever." This logistics upgrade will accelerate cross-border logistics from the Middle Eastern countries (UAE, Oman, Qatar, Bahrain) from 30 days to 12-14 working days. Cainiao International Express has increased local delivery resources in major cities such as Los Angeles and New York prior to Singles' Day, shortening local delivery times to around 2 days.
Source: Cainiao Group
5. Amazon Allows Self-Delivery Sellers to Submit Amazon Deal Events
On November 7th, Amazon announced that self-delivery sellers on the US, Europe, and Japan platforms can now submit Amazon Deal events. To help self-delivery sellers quickly increase and accumulate sales, as well as strengthen brand building and store operations, Amazon has opened its three major Deal promotion events - Lightning Deal, 7-day Deal, and Deal of the Day/Top Deal - to all self-delivery sellers.
Source: Amazon Global Store
6. Amazon Australia Opens New Warehouse, Increasing Capacity by 500%
On November 7th, Amazon opened a 20,000-square-meter distribution center at the Jandakot Industrial Estate in the southern part of Perth, Australia. This center will be Amazon's largest distribution center in Perth, increasing its storage capacity in Western Australia by 500%.
The new Amazon distribution center, costing $70 million USD, can accommodate 3 million items and is roughly the size of the WACA cricket ground. Additionally, the scale of this new distribution center is more than double that of another distribution center located near Perth Airport.
Source: AMZ123
7. Dajian Cloud Warehouse Acquires US Furniture E-commerce for $85 Million
On November 7th, Dajian Cloud Warehouse announced the completion of the acquisition of Noble House Home Furnishings LLC. The company paid approximately $85 million USD in cash for the acquisition of Noble House's assets, including inventory, warehouses, websites and domains, trademarks, trade names, customer contracts, sales channels, and other related brand assets. As a domestic B2B home furniture distributor in the United States, Noble House owns well-known brands such as Christopher Knight and OkiOki, along with a wide range of furniture products.
Source: Dajian Cloud Warehouse
8. Xiamen-São Paulo Cross-border E-commerce Air Freight Special Line Exports Exceed 10 Million Items
On November 7th, benefiting from the growing cross-border e-commerce demand between China and Brazil, the first domestic BRICS city cross-border e-commerce air freight special line "Xiamen-São Paulo" line faced a "ticket shortage." According to Xiamen Customs statistics, since its opening on February 10th, this route has operated 142 flights, carrying a total of 10,658.6 tons of import and export goods, including
9.012 million parcels of export cross-border e-commerce, with an export cargo load factor of up to 100%.
It is understood that the "Xiamen-São Paulo" route mainly exports various cross-border e-commerce products, pharmaceuticals, high-tech products, integrated circuits, and other high-value-added goods, while imports focus on seafood, fruits, and other fresh products. The route operates Boeing 777F freighters and is expected to operate over 300 flights in the next three years. To ensure smooth customs clearance, Xiamen Customs has also introduced facilitative measures such as "on-site supervision" and "goods area circulation."
Source: CCTV News
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