1.SF Express Plans to Resubmit Listing Application in Hong Kong

February 26th: SF Holdings plans to resubmit its listing application in Hong Kong, aiming to raise $1 billion to $2 billion. The previous application expired on February 21st. The fundraising target is expected to be lower compared to last year's anticipated $2 billion to $3 billion. SF Holdings initially submitted its listing application to the Hong Kong Stock Exchange on August 21, 2023, with a validity period of six months.

Source: Ryan Capital

2.TikTok's Semi-Enclosed E-commerce Business Launches in 8 Major Countries

February 26th: TikTok has launched its semi-enclosed trailer account. The countries currently in the beta phase include Germany, France, Spain, Italy, Canada, Australia, Japan, and South Korea. It is expected to expand to more countries in the future, covering South America, Central Asia, Southeast Asia, and New Zealand.

Source: TK Growth Association

3.Amazon's U.S. Retail Sales to Reach $641.3 Billion in 2024

February 26th: Momentum Commerce, a modern digital retail consulting company, has released its latest monthly revenue forecast for Amazon's U.S. and hundreds of Amazon categories. Momentum Commerce's latest model predicts that Amazon's U.S. retail sales will reach $641.3 billion in 2024, a year-over-year increase of 19.9%, or $106.6 billion.

Source: Momentum Commerce

 4.Shopee's Logistics Partner Sets Up Largest Sorting Center in the Philippines

February 26th: Shopee Philippines' logistics partner SPX Express officially launched its largest sorting center (SOC 5) in the country on February 22nd, with a capacity to handle over 3 million parcels per day. The large facility, covering an area of 25,000 square meters, is located in Paciano Rizal Barangay Paciano Rizal under Robinsons Logistixand Industrials Inc. (RLX). It is SPX's first automated sorting center, serving orders placed through its partner's online retail platform Shopee.

Source: E-commerce News

5.Flexport Launches Convoy Digital Truck Freight Platform

February 26th: Following the acquisition of Convoy's technology and intellectual property in November 2023, Flexport announced the launch of the Convoy Platform, a trucking capacity technology platform consisting of small carriers and proprietary operators serving global shippers.

The new Convoy platform connects small carriers, shippers, and freight forwarders, providing rate services and managing capacity demand. It also brings together a large number of service providers to offer full truckload (FTL) services to Flexport customers.

Flexport will continue to invest in this and expects to further expand the Convoy platform for freight forwarders in the second quarter of this year.

Source: Flexport

6.Several Domestic Airlines Experience Significant Increase in January Air Freight Volume

February 26th: Several domestic airlines experienced a significant increase in January air freight volume. China Southern Airlines increased its cargo transport capacity by 84.6% year-on-year, and China Eastern Airlines saw a 148.44% year-on-year increase in cargo turnover volume.

Source: Civil Aviation Administration of China

7.DaFeng's Net Profit Reaches $3.64 Billion in 2023

February 26th: DaFeng announced its performance for 2023, with annual revenue reaching $47.02 billion, a year-on-year decrease of 36.9%; Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) was approximately $9.01 billion, a year-on-year decrease of 72.9%; and net profit reached $3.64 billion, a significant year-on-year decrease of 85.4%.

Source: China Maritime Weekly

8.Gogovan's Market Value Evaporates by $50 Billion HKD This Year

February 26th: Gogovan's market value has evaporated by $50 billion HKD since the beginning of this year. The total market value of Gogovan rose from HKD 105.7 billion on the first day of listing to HKD 144.2 billion on January 4th. As of the close of February 20th, Gogovan's total market value has dropped below HKD 100 billion, with a total market value of HKD 95.52 billion, a decrease of nearly HKD 50 billion from its peak.

Source: Financial Investment News

9.Weihai Airport Opens Weihai-Zhengzhou All Cargo Flight

February 26th: A Boeing 737-300F freighter from Zhengzhou Xinzheng Airport landed smoothly at Weihai Airport under Shandong Airport Management Group, after unloading and loading cargo, it will return to Zhengzhou from Weihai. The Weihai-Zhengzhou flight plans to operate seven flights per week and 14 flights to Incheon per week, linking the two major international aviation logistics hubs of Zhengzhou Airport and Incheon Airport, further improving the existing aviation freight network in Weihai and enhancing the airport's cargo transportation capacity and comprehensive cargo transportation service capabilities.

Source: Air Cargo News Update

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Public Account: Cross-Border E-commerce Logistics Encyclopedia