1.Temu Officially Invites European Merchants to Join

On August 26, it was reported that Temu has officially started inviting European merchants to register as sellers on its platform. Currently, Temu's sales platform is open to European users and offers European merchants a range of outsourcing options, including advertising and promotional services. Additionally, Temu provides "extensive support, multilingual customer service, free omnichannel marketing, and assistance with business setup and training." To attract merchants, Temu is currently not charging any basic fees or sales commissions.

Source: ecommercenews

2.Huamao Logistics 2024 Half-Year Report

On August 26, Huamao Logistics released its 2024 semi-annual performance report, revealing that the company achieved operating revenue of 8.6 billion yuan, a year-on-year increase of 31.09%. The volume of international air freight reached 158,000 tons, up by 49,000 tons or 44.95% year-on-year. The international sea freight volume was 437,000 TEUs, an increase of 51,000 TEUs or 13.21% year-on-year. The company's gross profit totaled 1.012 billion yuan, roughly the same as the 1.059 billion yuan in the same period last year. The gross profit from international air freight was 360 million yuan, remaining stable compared to last year's figures.

Source: Huamao Logistics

3.Sinotrans Invests in Establishing International Logistics Company

On August 26, Sinotrans (Chifeng) International Logistics Co., Ltd. was established, with Zhang Jian as the legal representative and a registered capital of 20 million yuan. The company's business scope includes supply chain management services, container leasing, container repair, conference and exhibition services, among others. Equity penetration data from Qichacha shows that the company is jointly held by Sinotrans North China Co., Ltd. and Sinotrans Northeast Co., Ltd., both subsidiaries of Sinotrans.

Source: Qichacha

4.Alibaba Adds Hong Kong as a Dual Primary Listing Venue

On August 26, Alibaba announced on the Hong Kong Stock Exchange that it is voluntarily converting to a dual primary listing on the Hong Kong Stock Exchange. According to the announcement, the conversion from secondary listing to primary listing on the Hong Kong Stock Exchange will take effect on August 28, 2024. Upon the effective date, the company will be dual primary listed on both the Hong Kong Stock Exchange and the New York Stock Exchange, with stock symbols on the Hong Kong Stock Exchange removing the currency counter designations for both HKD and RMB. The voluntary conversion to dual primary listing does not involve the issuance of new shares or fundraising.

Source: Alibaba

5.Amazon Announces Termination of VAT Integration Services

On August 26, Amazon announced that it will terminate its VAT integration services on October 31, 2024. This means that sellers currently using Amazon's VAT services for managing European taxes must find alternative tax compliance service providers to take over their VAT numbers. After this, Amazon will no longer provide tax filing management services. Currently, Amazon is no longer accepting new sellers into its VAT integration service. Sellers who are currently using the service can continue to use it for tax filing until the September 2024 tax filing period. However, after the filing deadline in October 2024, the service subscription will be automatically canceled.

Source: Amazon

6.TikTok Officially Explains "No Longer Needed" Return Policy

On August 26, TikTok officially provided an interpretation of the "No Longer Needed" return policy. This policy will take effect on August 27, 2024, for cross-border orders in Southeast Asia (Malaysia, Philippines, Singapore, Thailand, and Vietnam). The "No Longer Needed" return scenario allows buyers to return items if they change their mind after receiving them, provided certain conditions are met. This scenario does not affect the seller's store metrics, and sellers will not be penalized by the platform, nor will they bear the shipping and return shipping costs. Buyers can check the "Change of Mind" label in the product details page's return policy section to determine if the item supports returns for this reason.

Source: Ebrun

7.Alibaba International Station Sees Over 30% Year-on-Year Growth

On August 26, data from Alibaba International Station for the first half of the year showed that the number of overseas paying buyers increased by more than 30% year-on-year. Among the top 10 industries with the highest online transaction growth rates in the first half of the year, half were related to machinery, construction materials, and equipment. Products such as excavators, loaders, and drilling rigs saw online transaction growth rates exceeding 50%. In major Western markets such as the United States, Germany, and France, the download ranking of Alibaba International Station has risen to fourth place.

Source: 36Kr

8.eBay to Adjust SpeedPAK Shipping Costs for U.S. Routes

On August 26, eBay announced that due to recent shipping cost adjustments, the cost of shipping from China to the United States has been updated. To ensure the smooth operation and timely delivery of SpeedPAK services, eBay will adjust the service fees for shipments from mainland China to the United States starting on September 1, 2024. This adjustment aims to maintain the stability of direct shipping services for eBay sellers.

Source: eBay

9.Shopee Updates Mall Seller Standards for Two Stations

On August 26, Shopee announced that the Shopee Singapore and Malaysia cross-border stores will update their mall seller standards on September 16, 2024. This update mainly involves a key metric—the Average Processing Time (APT), which will be replaced by the Fast Handling Rate (FHR). On Shopee Singapore, if a seller's FHR falls below 75% in the past 30 days, there is a risk of losing their mall seller qualification. On Shopee Malaysia, if a seller's FHR falls below 75% in the past 30 days, they will lose their mall seller qualification.

Source: Shopee

10.Atlas Air to Add Three Boeing 747 Freighters

On August 26, it was reported that Atlas Air has entered into a leasing agreement with Bank of China Aviation, adding three Boeing 747-8 freighters to its fleet. These aircraft are expected to be operational by the end of the third quarter this year. Atlas Air stated that the 747-8F will help meet the global demand for large wide-body air cargo capacity, especially for cross-border e-commerce transportation. The addition of this aircraft type to its fleet reflects Atlas Air's commitment to building a 747 freighter platform and highlights the value it offers to customers, including its large payload and unique nose-door loading capability.

Source: BOC Aviation

11.Maersk Revises Peak Season Surcharges from China to Multiple Destinations

On August 26, Maersk announced revisions to peak season surcharges for shipments from mainland China and Hong Kong to Nigeria, Burkina Faso, Benin, Ghana, Côte d'Ivoire, Niger, Togo, Angola, Cameroon, Congo, and the Democratic Republic of the Congo. Starting September 1, 2024, all containers shipped to Equatorial Guinea, Gabon, Namibia, the Central African Republic, Chad, Guinea, Mauritania, Gambia, Liberia, Sierra Leone, Cape Verde, and Mali will be subject to peak season surcharges.

Source: Maersk

12.TS Lines Launches Express Service from Asia to U.S. West Coast

On August 26, it was reported that emerging Asian shipping company TS Lines is accelerating its expansion into long-haul routes, with the recent launch of an express service from Asia to the U.S. West Coast (AWC2). Departing from Guangzhou, China, this direct service to Long Beach, California, showcases TS Lines' ambition to expand its international market presence. The AWC2 service uses 1,800 TEU vessels, with an initial deployment of three ships carrying toys, construction materials, and clothing, offering a fast 23-day turnaround. The company has also ordered new large vessels and is considering opening a route from the Far East to Mexico to further strengthen its market position.

Source: LogClub

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