1、UPS Releases 2024 Q2 Financial Report

On July 25, UPS announced its consolidated revenue for the second quarter of 2024 was $21.8 billion, a decrease of 1.1% compared to the same period last year. Consolidated operating profit was $1.9 billion, down 30.1% year-over-year, with adjusted consolidated operating profit down 29.3%. By business segment, U.S. domestic revenue for the second quarter was $14.119 billion, a decrease of 1.9% year-over-year, mainly due to a 2.6% decline in revenue per piece driven by changes in product mix; operating profit was $989 million. International revenue was $4.37 billion, a decrease of 1.0% year-over-year, primarily due to a 2.9% decline in average daily volume; operating profit was $718 million. Supply Chain and Freight revenue was $3.329 billion, up 2.6% year-over-year.

UPS updated its full-year 2024 financial targets: expected consolidated revenue of approximately $93 billion; expected adjusted consolidated operating profit margin of approximately 9.4%; expected capital expenditures of approximately $4 billion; and a stock repurchase target of approximately $500 million.

Source: UPS

2、USPS and UPS Crack Down on "Water-Running" Accounts

On July 25, it was reported that UPS is once again conducting stringent checks on "water-running" accounts. Recent information reveals that numerous companies' shipments have been detained by UPS, with significant issues arising for tracking numbers starting with 1ZY881 and 1Z59YR, affecting no less than 150 containers. Following suit, USPS will begin real-time verification of payment documents starting August 1, 2024, to address unpaid and counterfeit postage issues. Packages not listed in the manifest during the first scan at USPS facilities will be intercepted and processed, and these packages will not re-enter the mail stream, nor will the senders receive compensation.

Source: EEN

3、DSV Releases H1 2024 Performance Report

On July 25, DSV released its H1 2024 performance report. The financial report shows that DSV achieved a revenue of DKK 79.50 billion in the first half of the year, a year-over-year increase of 1.0%. Gross profit decreased by 7.1% year-over-year to DKK 21.11 billion. EBIT decreased by 17.5% year-over-year to DKK 7.74 billion. Net profit for the period was DKK 5.11 billion, a year-over-year decrease of 23.4%. DSV's performance for the first half of this year exceeded analysts' expectations. The management stated that due to the Red Sea crisis and subsequent supply chain uncertainties, DSV has raised the lower end of its full-year 2024 performance guidance.

Source: Shipping World

4、Brazil Becomes Temu's Second Largest Market

On July 25, it was reported that Temu has become the top shopping app in terms of downloads in Brazil, just over a month after its official launch. According to market research tool App Magic, Temu's app downloads in the past 30 days have surpassed major Brazilian e-commerce platforms such as MercadoLibre, Amazon, and Magalu. In the past 30 days, Brazil has ranked as the second-largest market for Temu app downloads, with over 5 million downloads, second only to the United States.

Source: EEN

5、Six Major Listed Airlines Release June Operating Reports

On July 25, it was reported that the six major listed airlines in China have released their main operating data for June 2024. According to the reports, the six airlines collectively completed 421,500 tons of cargo and mail transportation in June, on par with the previous month. Of this total, domestic cargo and mail transportation amounted to 254,100 tons, and international and regional cargo and mail transportation amounted to 167,400 tons, both remaining stable compared to the previous month. Among the three major airlines, China Southern Airlines completed 153,700 tons of cargo and mail transportation in June, Air China completed 124,200 tons, and China Eastern Airlines completed 85,300 tons.

Source: Aviation Cargo Express

6、AliExpress and Shopee Brazil Implement Early Tax Collection

On July 25, it was reported that cross-border e-commerce platforms AliExpress and Shopee will implement early tax collection on goods under $50. This policy was originally set to take effect on August 1, but due to the time difference in order processing and customs clearance procedures, the two platforms decided to start the tax collection earlier. The new tax measures will apply to all international purchases under $50. For goods between $50 and $3,000, consumers will need to pay a 60% tax, with a $20 tax discount. Additionally, all goods will be subject to a 17% state tax (ICMS).

Source: GoGlobal Network

7、Amazon Releases 2024 Mid-Year Product Selection Report

On July 25, Amazon Global Selling released the 2024 mid-year "Global E-commerce Consumption Trends and Product Selection Insights Report." This report, based on Amazon data, deeply analyzes consumption trends and high-potential products in the United States, Europe, Japan, and other regions. It reveals six major global consumption trends: comprehensive demand for gardening products from "seed to garden," the "soft experience" trend in hardcore technology, new business opportunities paying for "emotional value," the pursuit of new experiences in "silent travel," increasing attention to sleep issues, and the transformation of outdoor lifestyles for "living elsewhere." This report provides valuable reference for cross-border e-commerce sellers to develop more targeted product selection strategies and plans.

Source: Amazon Global Selling

8、Shopee Malaysia Local Stores Adjust Market Commission Structure

On July 25, Shopee Malaysia Local Stores announced that starting from August 1, 2024, it will adjust its market commission structure. The aim is to optimize platform services, enhance customer experience, expand overseas markets, and deepen seller support. Market commissions will only apply to local sellers who are not part of Shopee Mall and will be charged after 120 days of the seller joining the platform. The adjusted commission structure will directly relate to the specific types of products sold on the platform (SKU clusters, categories, and subcategories) and whether sellers choose to participate in the cash rebate program.

Source: Shopee Malaysia Local Stores

9、Alibaba International Station Introduces New Advertising Policy

On July 25, it was announced that Alibaba International Station has introduced a new "Alibaba International Station Advertising Policy" to ensure user experience and compliance with advertising placements. This rule was published on July 24, 2024, and will take effect on July 31, 2024.

Source: Alibaba

10、Uni-Top Airlines Aircraft Auction Fails Again

On July 25, it was reported that an Airbus A300 aircraft of Uni-Top Airlines, the first private air transport company in mainland China to independently purchase large long-haul freighters, failed to sell in its auction on JD.com. This was the second time this Airbus A300 failed to sell at auction. Previously, two Boeing 747 aircraft from Uni-Top Airlines also failed to sell in two consecutive discounted auctions on JD.com. The auction of aircraft assets is a reflection of Uni-Top Airlines' bankruptcy. In March of this year, the People’s Court of Huangpi District, Wuhan City, Hubei Province, issued a civil ruling declaring Uni-Top Airlines bankrupt. This is the first domestic airline to declare bankruptcy post-pandemic.

Source: Yicai Global

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