1.Two Well-Known Freight Forwarding Companies to Merge Operations

On February 27th, Frankfurt-based freight forwarding company Quick Cargo Service (QCS) announced that, in order to expand their service scope, QCS and Team Global Logistic will merge their respective businesses. Following the completion of the transaction, both companies will operate under the QCS brand to ensure the continuity of QCS's brand while fully leveraging the market advantages they have built over the past 50 years.

Source: aircargonews

2.Cai Chongxin: Cainiao is Waiting for a Better Opportunity for Hong Kong IPO

On February 27th, Alibaba Chairman Cai Chongxin stated that after experiencing a period of pressure, Alibaba has returned to the top tier of Chinese e-commerce companies. Cainiao submitted its listing application to the Hong Kong Stock Exchange on September 26, 2023. Cai Chongxin indicated that the current market performance is not ideal, and they are still waiting for a better opportunity.

Regarding the success of Chinese e-commerce companies such as Temu under Pinduoduo and TikTok under ByteDance in the United States, Cai Chongxin stated that these companies offer high-quality products at reasonable prices, which is very positive. Alibaba will observe the market and study how to respond.

Source: All Weather Technology

3.Huakai Yibai Acquires Hai Tu Technology

On February 27th, Hai Tu Technology announced that Huakai Yibai has recently completed the acquisition of Hai Tu Technology. Yibai Network will absorb the TikTok operation team of Hai Tu Technology, and the two parties will jointly operate the TikTok project in the future. To facilitate better communication and cooperation between the two companies, the Hai Tu Technology team moved into the Yibai Building for office space on February 23rd.

Source: E-commerce Daily

4.Mexmart's 2023 Annual Revenue Reaches $14.5 Billion

On February 27th, the financial report for the fourth quarter and full year 2023 of Latin American e-commerce platform Mexmart showed that Mexmart's sales in the fourth quarter reached $4.3 billion, an increase of 41.9% year-on-year. The annual revenue for 2023 reached $14.5 billion, a year-on-year increase of 37%. In 2023, Mexmart's active users grew significantly, reaching 218 million by the end of 2023. Additionally, Mexmart shipped a total of 650 million items in 2023, a year-on-year increase of 45%.

Source: Hugo Cross-Border

5.TIKTOK's Merchant Count in Indonesia Exceeds 150,000

On February 27th, according to research by China Merchants Securities, as of the end of 2023, the number of merchants on TikTok's platform in the Indonesian market has exceeded 150,000, leading other platforms by a large margin. Data indicates that the top three markets in terms of the number of TikTok merchants are Indonesia (150,100), Vietnam (107,700), and Thailand (85,600).

Source: Brand Ark

6.Kuehne+Nagel Further Expands Services at JFK Airport

On February 27th, global logistics company Kuehne+Nagel expanded its facilities at John F. Kennedy International Airport (JFK), adding 4,500 square feet of independent, GxP-compliant temperature-controlled areas and an additional 10,000 square feet of warehouse space.

Source: stattimes

7.eBay Fulfillment Launches Multi-Attribute Posting Functionality on the U.S. Site

On February 27th, eBay fulfillment by Orange Connex launched multi-attribute posting functionality on the U.S. site, building on its support for the UK, Germany, and Australia sites. Sellers only need to add existing multi-attribute postings on eBay (or create multi-attribute postings as needed), bind multi-attribute SKUs, and they can easily achieve multiple attribute SKU display in the same posting, different shipping locations, different delivery times, and different prices.

Source: eBay

8.Shopee Live Indonesia Launches Subsidy Activities Again

On February 27th, Shopee Live Indonesia launched subsidy activities again. Specifically, there are two promotional activities per day, at noon and 8 PM respectively. Consumers can enjoy up to 80% discounts at Live XTRA every day, as well as 50% discounts at all Shopee Live stores.

Source: Cross-Border Southeast Asia

9.Dafy Adjusts Peak Season Surcharges for Some Routes

On February 27th, Dafy announced revisions to peak season surcharges (PSS) from Northern Europe to the Mediterranean, Adriatic Sea, Black Sea, and North Africa. The updated surcharge is $216 per piece/$253 per piece (UK), effective from March 15, 2024 (loading date), until further notice.

Source: Cross-Border Knowledge

10.Temu Japan's January User Count Exceeds 15 Million

On February 27th, Temu's user count in Japan exceeded 15 million in January. Since officially launching services in July 2023, Temu's monthly user count has grown to 22 million, reaching more than 50% of the average of Japan's top three e-commerce platforms. Additionally, SHEIN's user count has also exceeded that of Japan's well-known clothing e-commerce platform ZOZOTOWN.

Source: Nikkei Chinese

11.Yiwu, Zhejiang Province Opens Cargo Routes to Manila and Clark

On February 27th, Yiwu Airport opened direct cargo routes to Manila and Clark, significantly improving the logistics efficiency of cargo transportation from Yiwu to the Philippines by one day. Currently, Yiwu Airport has opened international freight routes to Osaka, Japan, Manila, and Clark in the Philippines, building a full-chain air freight service system covering warehousing, customs clearance, trunk line, and distribution.

Source: China News Net

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