1. Huamao Logistics: Plans to transfer 30% equity of its subsidiary Xiamen Huagang Logistics.

On November 9th, Huamao Logistics announced that the company and its wholly-owned subsidiary, Huamao Logistics (Hong Kong) Co., Ltd., intend to transfer 30% of the equity held in Xiamen Huagang Logistics Co., Ltd. through public listing. Referring to the appraisal value, the intended base price for the public listing transfer is set at 50.88507 million yuan (based on the results of the registered asset appraisal).

Source: Huamao Logistics

2. DHL's third-quarter revenue reaches 19.4 billion euros with narrowed profit expectations.

On November 9th, DHL released its financial report for the third quarter of 2023, revealing a revenue of 19.4 billion euros, down by 19.3% year-on-year. The profit before tax amounted to 1.372 billion euros, a decrease of 32.4% compared to the same period last year. After deducting non-controlling interests, the total net profit was 807 million euros, representing a decrease of 33.9% year-on-year. DHL's consolidated revenue for the first nine months of 2023 reached 60.4 billion euros, and the operating profit met expectations at 4.7 billion euros. Additionally, the group has revised its profit expectations for 2023 to be between 6.2 billion and 6.6 billion euros, attributing the adjustment to the ongoing global economic recovery.

Source: DHL

3. China Post officially opens Shijiazhuang-Tokyo cargo and mail route.

On November 9th, China Post's CF231 flight departed from Shijiazhuang Zhengding International Airport and arrived at Tokyo Narita International Airport, marking the official opening of the "Shijiazhuang-Tokyo" cargo and mail route by China Post. China Postal Airlines operates this route using a Boeing 737-800F aircraft, with two flights per week on Tuesdays and Fridays, offering a maximum cargo capacity of 18 tons per flight. This marks the second international cargo and mail route opened by China Post from Shijiazhuang, following the "Shijiazhuang-Seoul" route launched on September 27th.

Source: China Post News

4. China Southern Cargo resumes Guangzhou-Wuhan-San Francisco route.

On November 9th, China Southern Cargo officially resumed its Guangzhou-Wuhan-San Francisco route, which is the third regular international intercontinental route restored by China Southern in Hubei. Initially, the Guangzhou-Wuhan-San Francisco route operates once a week on Saturdays. The flight departs from Guangzhou Baiyun International Airport at 11:20 AM and arrives in San Francisco at 3:10 PM local time after a stopover in Wuhan.

Source: China Southern Cargo

5. SHEIN considers acquiring British fashion brand Topshop.

On November 9th, SHEIN has officially made an offer to ASOS, considering the acquisition of the British fast fashion brand Topshop. ASOS acquired Topshop from the Arcadia Retail Group for £330 million in 2021.

Source: Retail Gazette

6. eBay's third-quarter revenue reaches $25 billion, with GMV of $180 billion.

On November 9th, eBay announced its performance for the third quarter of 2023, reporting revenue of $25 billion, a 5% increase according to the report, and a 5% increase on a foreign exchange (FX) neutral basis. Gross Merchandise Volume (GMV) amounted to $180 billion, showing a 2% increase according to the report, and remained roughly flat on a neutral currency basis. The GAAP net profit from continuing operations was $1.3 billion, and the non-GAAP net profit from continuing operations was $545 million.

Source: eBay

7. The top 50 global cross-border e-commerce platforms have been revealed.

On November 9th, Standard Chartered Bank, in collaboration with the Shanghai Academy of Social Sciences, Dun & Bradstreet, and "Financial Weekly" jointly released the "2023 Cross-Border E-Commerce Development Report."

This report ranks the top 50 global cross-border e-commerce platforms, with the top 10 including Walmart (North America), Amazon (North America), Home Depot (North America), Alibaba (Asia), JD.com (Asia), Target (North America), Best Buy (North America), Coupang (North America), Otto Group (Europe), and Rakuten (Asia).

The report points out that apart from large cross-border e-commerce platforms in North America and Europe, the global layout of emerging market players is relatively weak. However, they have advantages in deep cultivation and exploration of specific regional markets for sellers. Although mature markets like Europe and America are relatively mature, with overall growth trends slowing down, more platforms are targeting developing markets and trying to find a second growth curve. Southeast Asia, Latin America, the Middle East, Japan, and South Korea are also the focus areas for cross-border platforms and sellers to explore and expand.

Source: Sina.com

8. FedEx will continue to strengthen its presence in China and expand its network to more second and third-tier cities.

On November 9th, FedEx's Senior Vice President and President of China, Chen Jialiang, stated that FedEx will continue to enhance its presence in the Chinese market, which has become one of the fastest-growing and most promising regions for FedEx's international business development.

Currently, FedEx operates over 300 international round-trip flights in mainland China every week. FedEx will further strengthen its logistics network layout in China, expand its service network to more second and third-tier cities, and continue to improve its service capabilities and delivery efficiency in core areas such as e-commerce and cross-border e-commerce.

Source: The Paper News

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Cross-border E-commerce Logistics Bai Xiaosheng"