1. **Temu Drives Pinduoduo's Performance to Grow by 123% YoY**

On March 22nd, Pinduoduo released its financial report for the fourth quarter and full year of 2023. In the fourth quarter of 2023, Pinduoduo's revenue reached 88.9 billion yuan, a year-on-year increase of 123%; net profit was 23.3 billion yuan, a year-on-year increase of 146%. For the whole year, Pinduoduo's revenue was 247.6 billion yuan, a year-on-year increase of 90%; net profit was 60 billion yuan, a year-on-year increase of 90%. In addition, Pinduoduo also disclosed the latest situation of Temu: Since its launch in September 2022, Temu has entered 50 countries and regions.

Source: Economic Daily News

2. **Ranking of National Airport Cargo Throughput for 2023 Released**

On March 22nd, the Civil Aviation Administration released the "2023 National Civil Transport Airport Production Statistics Bulletin." In 2023, China's civil transport airports completed a cargo throughput of 168.33 million tons, an increase of 15.8% over the previous year, restoring to 98.4% of the level in 2019. Among all transport airports, there were 63 airports with an annual cargo throughput of over 10,000 tons, an increase of 12 from the previous year, accounting for 98.7% of the total cargo throughput of all domestic transport airports. There were 196 transport airports with an annual cargo throughput of less than 10,000 tons, a decrease of 7 from the previous year. 

The top ten airports in terms of cargo throughput for 2023 were: Shanghai/Pudong (1st), Guangzhou/Baiyun (2nd), Shenzhen/Baoan (3rd), Beijing/Capital (4th), Hangzhou/Xiaoshan (5th), Zhengzhou/Xinzheng (6th), Chengdu/Shuangliu (7th), Chongqing/Jiangbei (8th), Nanjing/Lukou (9th), and Shanghai/Hongqiao (10th).

Source: Civil Aviation Administration

3. **FedEx Launches New Facility at Madrid-Barajas**

On March 22nd, FedEx announced the opening of a newly refurbished facility at Adolfo Suárez Madrid-Barajas Airport's cargo center. The main warehouse will be able to handle an inbound capacity of 3,600 packages per hour, along with X-ray sorting capabilities for outbound packages at a rate of 450 packages per hour and X-ray bypass capabilities for 1,800 packages per hour. For larger cargo, it has activated a cage capacity, including up to 17 docks for loading and unloading goods by trailers, trucks, and vans. Additionally, the warehouse can securely store up to 3,300 pieces and up to 99 pallets.

Source: FedEx

4. **2024 Amazon Prime Day Registration Opens**

On March 22nd, Amazon Global Store announced that registration for the 2024 Amazon Prime Day promotion has commenced. Sellers can contact their account managers or check their registered email addresses for the registration guidelines.

It is reported that during the 2023 Amazon Prime Day event, the first day's performance set a new record in Amazon's history. During the 2023 Amazon Prime Day event, Amazon Prime members purchased over 375 million items globally, saving over $2.5 billion through various discounts. The sales volume of Amazon's global third-party sellers exceeded that of Amazon's own operations.

Source: Amazon Global Store

5. **Alibaba's AliExpress Reportedly Won't Renew Contract with South Korean CJ Logistics**

On March 22nd, the Seoul Economic Daily cited industry sources saying that Alibaba's global platform AliExpress will not renew its contract with South Korean CJ Logistics. Instead, it will accept bids from local logistics companies and sign a one-year delivery contract. Lotte Global Logistics, Hanjin, and CJ may compete for this contract. Following the announcement, CJ Logistics' stock price fell by 10%.

Source: Seoul Economic Daily

6. **DHL to Increase 767 Fleet to 14 Aircraft**

On March 22nd, DHL expanded its Boeing 767 freighter business through a new leasing agreement with Air Transport Services Group (ATSG). ATSG has signed a new leasing agreement with DHL Network Operations (USA) Inc. Under the agreement, ATSG's Cargo Aircraft Management (CAM) has leased a Boeing 767-300 freighter to DHL for operation within DHL's global network. This agreement will increase CAM's leased 767 fleet to a total of 14 aircraft for DHL.

Source: Air Cargo News

7. **Shandong Ports Sign Memorandum of Cooperation with 7 Shipping Companies Including Maersk**

On March 22nd, the 2024 Shandong Port Container High-Quality Development Symposium was held in Shanghai. Shandong Port, Qingdao Port, Shandong Port Logistics Group, and Shandong Port Shipping Group signed a "Memorandum of Deepening Comprehensive Cooperation in the Market of 'New Three Samples'" with seven shipping companies including COSCO Shipping, Maersk, CMA CGM, Yang Ming, Evergreen, Ocean Network Express, and Sea Consortium. They will work together to promote the development of new quality productivity and jointly create new competitive advantages.

Source: China Post News

8. **Tianjin Cargo Airline Enhances "Nanning to Dhaka" Freight Route**

On March 22nd, Tianjin Cargo Airlines Boeing 737 freighter, loaded with fresh products such as eels and seafood from South Asia, landed smoothly at Nanning Wuxu International Airport. Since the opening of the "Nanning to Dhaka" international freight route, market demand has been increasing. Tianjin Cargo Airlines responded to market demand by increasing the frequency of existing flights, with up to ten round-trip flights per week, promoting the long-term development of trade and economic exchanges between the two countries.

Source: China Civil Aviation Net

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