1. Amazon Business Becomes One of the Fastest-Growing Enterprises in Amazon's History

March 18th news: Amazon announced that Amazon Business has become one of the fastest-growing enterprises in Amazon's history, with annual sales reaching $35 billion in 2023. Doug Herrington, CEO of Amazon Global Store, commented, "I have been excited about Amazon Business since its launch. The Amazon Business team is committed to their business and the long-term success of their customers."

Source: Amazon

2. Temu Officially Activates Inventory in the United States

March 18th news: TEMU has started allowing sellers to store inventory in local warehouses in the United States instead of shipping from China. However, currently, there are no American sellers involved; instead, it's Chinese sellers who are utilizing local inventory in the United States.

Since Temu's launch in the United States in September 2022, it has been operating on a consignment basis, requiring sellers to agree to wholesale prices and ship goods in bulk to Temu's warehouses. Then, Temu is responsible for listing, marketing, fulfillment, customer service, and pricing, and pays the seller after someone orders and purchases their product. This model enables Temu to control quality, selection, and pricing but has hindered its ability to attract sellers from other countries.

Source: Marketplace Pulse

3. China Postal Express & Logistics and Sinotrans Sign Strategic Cooperation

March 18th news: China Postal Express & Logistics Co., Ltd. and Sinotrans Limited held a strategic cooperation signing ceremony. The two parties will collaborate in various aspects including international trunkline capacity sharing, overseas resource coordination and joint layout, global customs cooperation, in-depth cooperation on advantageous products, domestic distribution cooperation, digitalization, and green logistics cooperation.

Source: China Postal Express Official WeChat Account

4. January 2024 Freight Performance of Six Major Listed Airlines

March 18th news: The six major listed airlines in China successively released their main operating data for January 2024. According to the announcements, the six major listed airlines completed a total freight volume of 438,800 tons in January, including 287,500 tons of domestic freight volume and 151,300 tons of international and regional freight volume.

Among the three major airlines, China Southern Airlines completed a freight volume of 159,700 tons, Air China completed a freight volume of 121,800 tons, and China Eastern Airlines completed a freight volume of 96,600 tons. In terms of the distribution of freight volume, China Southern Airlines' international and domestic freight volumes are close, while other airlines mainly focus on domestic freight.

In terms of freight load factor, the overall load factor of each airline averages around 40%, with Spring Airlines having the highest overall load factor at 59.68%. Among the three major airlines, China Southern Airlines' international route load factor reached 61.93%.

Source: Air Cargo Information Express

5. Evergreen Marine Corporation Announces Full-Year 2023 Performance

March 18th news: Evergreen Marine Corporation announced its full-year performance for 2023. During the reporting period, Evergreen Marine Corporation achieved a total operating revenue of NT$276.71 billion (approximately $8.88 billion), a year-on-year decrease of 55.9%; gross profit was NT$49.91 billion, a year-on-year decrease of 87.5%; operating profit was NT$34.75 billion, a year-on-year decrease of 90.7%; net profit attributable to the parent company reached NT$35.34 billion (approximately $1.13 billion), a year-on-year decrease of 89.4%; basic earnings per share were NT$16.7.

Source: Shipping Industry

6. Wan Hai Lines' February Revenue Decreases by 4.2% Month-on-Month

March 18th news: Wan Hai Lines announced that its February revenue decreased by 4.2% month-on-month. For the full year of 2023, Wan Hai Lines achieved operating revenue of NT$100.22 billion (approximately $3.18 billion), a year-on-year decrease of 61.3%; gross profit was -NT$1.51 billion (-$47.879 million); operating profit was -NT$6.3 billion (-$200 million); pre-tax net profit was -NT$2.49 billion (-$78.968 million); a full-year loss of NT$5.78 billion (-$183.85 million); net profit attributable to the parent company was -NT$5.8 billion (-$183.85 million); and earnings per share were -NT$2.07.

Source: Shipping Industry

7. PingPong Partners with TikTok Shop

March 18th news: PingPong has officially partnered with TikTok Shop to support sellers in receiving cross-border payments on TikTok Shop, helping zero sellers seize global opportunities in social e-commerce and live streaming sales, and accelerate the expansion into global markets.

Starting today, through PingPong, TikTok Shop sellers can receive multi-currency payments in USD, RMB, and other currencies on Southeast Asian cross-border sites in Malaysia, the Philippines, Thailand, Vietnam, Singapore, etc. Payments for UK and US cross-border sites will also be launched within March, helping sellers solve global payment issues in one-stop and achieve "selling globally in one store" securely and conveniently.

Source: US Stock Research Community

8. Huahan Logistics Officially Launches on Fruugo

March 18th news: Huahan Logistics has officially launched on the UK independent e-commerce platform Fruugo. It is reported that Fruugo's supply covers over 100,000 products from over 100+ merchants in Finland, the UK, the Netherlands, and Sweden. So far, the platform's growth rate continues to rise at a rate of 141% annually.

Source: Huahan Logistics

9. JD Abandons Acquisition of UK Electronics Retailer Currys

March 18th news: JD announced that it does not intend to make a takeover offer for the UK electronics retailer Currys. Elliott Advisors previously announced on the 11th that after several attempts to contact the Currys board were rejected, Elliott could not propose a better takeover offer for Currys based on the public information it had. Therefore, Elliott confirmed that it does not intend to make a takeover offer for Currys.

Source: Interface News

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