1.TEMU gains certification under Brazil's tax incentive program.

May 22 news: According to the website of the Brazilian Federal Revenue Service, Temu has been certified under a tax incentive program by the Brazilian government. Goods under $50 are exempt from import fees, bringing the company closer to expanding its operations in Brazil. Local media reports indicate that Temu has been preparing to enter the Brazilian market for several months, but few details have been known until now. It is reported that Temu's services will soon be launched in the South American country.

Source: REUTERS

2. Warehouse launches new overseas warehouse in the UK

May 22 news: Warehouse officially announced the opening of its new UK warehouse No. 19, which is now in operation and open for receiving goods immediately. The new UK warehouse covers approximately 35,000 square meters and is located in the ancient city of Lichfield, just a 25-minute drive from Birmingham Airport. The new warehouse is adjacent to Warehouse UK No. 8 and its opening will effectively alleviate regional storage capacity pressure.

Source: Zongteng Group

3. Alibaba injects another $230 million into Lazada

May 22 news: According to documents filed with the Singapore Accounting and Corporate Regulatory Authority (ACRA), Alibaba has injected another $230 million into Lazada. This marks Alibaba's first funding injection into Lazada this year.

To date, Alibaba has invested $3.6619 billion into Lazada. With the new funding, Lazada is also shifting towards cost reduction to stay ahead in the Southeast Asian e-commerce competition, particularly with the launch of Choice last year, which competes with Temu and SHEIN in the low-cost product segment.

Source: Ebrun

4. Cainiao and AliExpress launch the first official cross-border warehouse in the Beijing-Tianjin-Hebei region

May 22 news: Cainiao and AliExpress have launched their first official cross-border warehouse in the Beijing-Tianjin-Hebei region, located in Tianjin. This warehouse will significantly reduce the stocking pressure for cross-border merchants in North China, allowing more merchants to join AliExpress's semi-automated service without worries. For this year's 618 Shopping Festival, in addition to the new industrial belt warehouses in Tianjin, Chengdu, and Qingdao, Cainiao's JIT (Just-In-Time) door-to-door collection service will expand to 32 cities, enabling more merchants to ship with ease.

According to AliExpress's North China recruitment head, these measures are aimed at helping merchants better adapt to the changes in cross-border e-commerce, smoothly upgrade, and transition their business models. Currently, Choice orders based on the managed model account for 70% of the platform's overall orders.

Source: Sina

5. FedEx adjusts freight network

May 22 news: John Dietrich, Executive Vice President and CFO of FedEx, stated that losing the U.S. Postal Service's air freight contract will allow FedEx to actively seek network changes after the contract expires in September. Although it will continue to provide daytime services to shippers, it will not be as constrained as before, and they will continue to rationalize the network.

Experts believe that due to the loss of the contract, FedEx's daytime flight capacity may be reduced. FedEx has been shifting volume to its lower-cost internal ground network. The Postal Service continues to reduce its reliance on the FedEx air network as part of its long-term "Delivering for America" plan to improve its financial situation.

Source: Compiled by Cross-Border E-Commerce Logistics Expert

6. Dianxiaomi ERP fully integrates with SHEIN's semi-automated system

May 22 news: Dianxiaomi ERP has taken the lead in integrating with SHEIN's semi-automated system, supporting product listings and efficient order processing. It now fully covers SHEIN's platform model, including full OBM (Original Brand Manufacturing) and semi-automated modes, enabling sellers to achieve new business growth and high-quality international expansion on the SHEIN platform.

Source: Dianxiaomi

7. South Korea delays overseas online shopping ban

May 22 news: Due to strong opposition from Korean consumers, the South Korean government has canceled the regulation that prohibited the purchase of approximately 80 types of products from overseas e-commerce platforms. The regulation, which was set to take effect on June 1, aimed to ban the online sale of products, including children's items and electronics, that had not obtained KC safety certification, in order to protect public health and safety.

Additionally, concerns over product safety led to a 40.2% decrease in April sales for Chinese e-commerce platforms AliExpress and Temu in South Korea. Data from Korean credit card provider BC Card showed that transactions under 5,000 KRW on AliExpress and Temu decreased by 55.2%, transactions between 5,000 and 10,000 KRW decreased by 42%, and transactions between 10,000 and 30,000 KRW decreased by 35.2%.

Source: AMZ123

8. Yida Cloud to be listed

May 22 news: Cross-border e-commerce service provider Yida Cloud will open its IPO from May 20 to May 23, with an expected listing date of May 28, 2024. Yida Cloud plans to globally offer 97.625 million shares, with 90% for international sale and 10% for public sale, along with a 15% overallotment option. The offer price per share ranges from 2.28 to 3.06 HKD, with a minimum investment of 1,000 shares, aiming to raise up to approximately 299 million HKD.

Shenzhen Yida Cloud Technology Co., Ltd. is an internet technology company specializing in cross-border e-commerce services. With years of global overseas warehouse deployment and a self-developed SAAS platform, it provides end-to-end international logistics transportation services.

Source: Ryanben Capital

9. COSCO Shipping establishes a comprehensive logistics channel in North America

May 22 news: A truck loaded with artificial turf equipment successfully arrived at a customer distribution center in California, marking the successful completion of another US-Mexico cross-border route operated by COSCO Shipping.

The launch of the US-Mexico direct trucking service effectively links COSCO Shipping's global shipping routes and extended service network, significantly benefiting the development of Mexican manufacturing. This forms a complete supply chain loop for "raw material import + finished product export" and establishes a comprehensive logistics channel for "sea-land import intermodal + Mexico-US cross-border export."

Source: China COSCO Shipping E-News

10. CMA CGM revenue drops 7% in Q1

May 22 news: Container shipping company CMA CGM reported revenues of $11.8 billion for the first quarter of 2024, a 7% decrease. Earnings before interest, depreciation, and amortization (EBITDA) were $2.4 billion, a 30.3% decrease compared to the first quarter of 2023. The EBITDA profit margin was 20.2%, down 6.8%. Net profit dropped from $2 billion in Q1 2023 to $785 million in Q1 2024.

Meanwhile, CMA CGM transported 5.61 million TEUs in the first three months of this year, an increase of 11.7% year-over-year. In a statement, CMA CGM attributed this growth to stronger-than-expected global trade and freight demand, driven by a rebound in consumption and inventory restocking after reaching low points in 2023.

Source: CMA CGM

11. South Korea's two shipping giants collaborate for the first time

May 22 news: South Korean shipping companies HMM and SM Line announced their first collaboration on a North American route. Starting in June, they will exchange vessel services on the Asia to West Coast America route. HMM will provide 300 TEU capacity on the PSX route, while SM Line will provide equivalent capacity on the CPX route. This cooperation aims to expand their operational networks in the Port of Oakland in the U.S. and Incheon Port in South Korea, and improve service quality. This move not only strengthens South Korea's maritime development but also demonstrates HMM and SM Line's proactive cooperation on long-haul routes. Both companies expressed their commitment to continuing to provide high-quality services to their customers.

Source: Ebrun

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Cross-border e-commerce logistics Bai xiaosheng