1.SF Express Releases 2024 Semi-Annual Report

On August 30, SF Express announced its semi-annual performance report for 2024. In the first half of 2024, SF Express achieved a revenue of RMB 134.41 billion, an increase of 8.08% year-on-year. Net profit attributable to shareholders was RMB 4.807 billion, up 15.10% year-on-year, with earnings per share reaching RMB 1.00, an increase of 16.28% year-on-year. The total volume of shipments reached 6.24 billion, a growth of 6.3% year-on-year.

In terms of income categories, express logistics business revenue reached RMB 99 billion, a year-on-year increase of 7.6%. Excluding Fengwang's business, revenue increased by 8.4% year-on-year. Supply chain and international business revenue amounted to RMB 31.2 billion, up 8.1% year-on-year.

Source: SF Express

2.SHEIN Officially Enters the Colombian Market

On August 30, Chinese cross-border e-commerce fashion brand SHEIN officially announced its entry into the Colombian market. According to data from the Colombian Chamber of Electronic Commerce (Ccce), the total online transaction volume in Colombia reached 15.4 trillion pesos (approximately USD 3.7 billion) in the first quarter of 2024, an increase of 1.73% year-on-year. The number of online transaction orders reached 93 million, up 6.65% year-on-year. After entering the Colombian market, SHEIN will offer users a comprehensive service including online payment, free delivery, and a virtual shopping mall.

Source: Jiemian News

3.Forward International Releases 2024 Mid-Year Results

On August 30, Forward International announced its mid-year results for 2024. For the six months ending June 30, 2024, the company achieved revenue of RMB 1.428 billion, an increase of 111.9% year-on-year. Gross profit was RMB 105 million, up 92.5% year-on-year. Profit attributable to the company's shareholders was RMB 38.093 million, an increase of 236% year-on-year, with basic earnings per share of RMB 0.0488.

Source: Forward International

4. Yunda Releases 2024 Semi-Annual Report

On August 30, Yunda's semi-annual report for 2024 showed that its operating income for the first half of the year was approximately RMB 23.25 billion, an increase of 7.78% year-on-year. Net profit attributable to shareholders was approximately RMB 1.04 billion, an increase of 19.8% year-on-year. In the first half of the year, Yunda completed a total of 10.924 billion parcels, an increase of 30.02% year-on-year. Revenue from express services reached RMB 22.687 billion, up 10.08% year-on-year.

Source: Yunda

5.JD Logistics Signs Supply Chain Industry Base Project

On August 30, the signing ceremony for the JD Logistics Supply Chain (Yongzhou) Industry Base project was held in Ningyuan County, Yongzhou, Hunan. The project, with a total investment of RMB 1 billion, will mainly focus on e-commerce services, product sales on the JD platform, import and export of goods, and more. The implementation of this project will establish three major areas: a modern commercial logistics industrial zone, a supply chain digital industrial zone, and a fresh food new retail incubation service zone, along with six key sectors: logistics distribution, e-commerce logistics, trade transactions, cold chain and pharmaceutical logistics, warehousing and processing, and comprehensive service support.

Source: Today's Yongzhou

6.UPS Collaborates with Ninja Van

On August 30, Ninja Van Malaysia announced a collaboration with UPS to deliver parcels. Customers can now enjoy UPS Global Express and Express Saver services at 52 Ninja Van outlets in Klang Valley, Malaysia, and locate the nearest outlet through the UPS website. This partnership marks a significant step for Malaysian businesses, allowing easier access to UPS's global express network, thereby facilitating their international market expansion. Ninja Van Malaysia has established over 5,500 pick-up and drop-off points nationwide, and with the integration of UPS services, customers can now handle both domestic and international parcels more efficiently.

Source: Ebrun

7.Amazon US Announces Important Updates

On August 30, Amazon US announced important updates aimed at enhancing cross-border logistics efficiency and customer experience. Starting from October 25, the shipping time options from China to the US mainland (excluding Hawaii, Alaska, etc.) will be adjusted to 2-4 days and 14-20 days, with the maximum time limit shortened to 20 days to accelerate delivery speeds. Additionally, to better manage order processing, Amazon will automatically set handling times for SKUs shipped from outside the US, optimized based on historical data. If sellers manually set processing times that are significantly delayed, the system will automatically take over, and any resulting late shipment rate will be protected.

Source: Ebrun

8.Amazon Initiates New Round of Account Verification

On August 30, Amazon initiated a new round of enhanced video verification, with a large number of sellers receiving emails requesting stock authenticity verification via video interviews. Failure to comply may result in account suspension. The accounts being reviewed include those without brand registration relying on whitelist operations, poorly managed multi-store brand authorizations, and accounts with follow-selling behavior. This review requires the provision of more detailed documentation, and the difficulty of video verification has increased, with a lower success rate.

Source: Going Global Network

9.Pinduoduo's Temu Nears Profitability in the US Market

On August 30, it was reported that Pinduoduo's Temu is close to achieving EBITDA profitability in the US market by July this year. This year, Temu has intentionally reduced its reliance on the US market. According to a previous report by The Information, due to near saturation growth, Temu aims to increase performance in other regions this year, reducing the GMV share from the US from 60% to 30%. It is understood that the current US sales ratio is around 40%. Temu's near profitability in the US is mainly due to a reduction in advertising and other expenditures. Temu's current marketing goal in the US is not to attract new customers but to increase the activity, purchase frequency, and average order value of existing users.

Source: 36Kr Future Consumption

10. AliExpress Strengthens Regulation on Qualification Information on Product Detail Pages

On August 30, AliExpress announced a new regulation on strengthening the management of qualification information displayed on product detail pages. Merchants will be penalized according to relevant platform rules if they violate these guidelines. To avoid misleading or inappropriate product information, merchants are prohibited from posting or displaying product qualification information (such as CE/UKCA certificates, corresponding test reports, etc.) in any area of the product detail page (e.g., main image, SKU image, details, etc.).

If sellers need to display qualification information, they must select the appropriate product attributes (such as Certification) when publishing product information and upload the corresponding qualification documents for the target country in the qualification information module. The product qualification logos (e.g., CE/UKCA marks, E-mark marks, etc.) on the outer packaging labels may only be displayed on the product detail page if the product has obtained the corresponding qualifications (certification/registration/authorization/license/test report).

Source: AliExpress

11.IATA Air Cargo Demand Strong Growth of 13.6% in July

On August 30, IATA reported a strong 13.6% growth in total demand in July, as measured by Cargo Tonne Kilometers (CTKs) (international demand increased by 14.3%). Capacity, measured by Available Cargo Tonne Kilometers (ACTKs), increased by 8.3% in July 2024 compared to July 2023 (international capacity grew by 10.1%).

According to the latest data from the International Air Transport Association (IATA), "This marks the eighth consecutive month of double-digit year-on-year growth, with overall levels reaching their highest point since the record peaks of 2021."

Source: Global Air Cargo

12. MSC's Australia-New Zealand Service WALLABY Maiden Voyage at Xiamen

On August 30, with the successful docking of the "MSC Eleni" vessel at Xiamen International Container Terminal Berth 2, MSC's Australia-New Zealand service successfully launched its maiden voyage at Xiamen Port. This route is currently the only direct container shipping route from Xiamen Port to New Zealand, with direct access to cities such as Auckland, Bluff, Lyttelton, Wellington, Napier, and Tauranga. The route reduces the original voyage time from Xiamen to New Zealand from over 30 days to 25 days, significantly lowering logistics costs and improving transportation efficiency. Port calls are as follows: Hong Kong - Yantian, China - Xiamen, China - Shanghai, China - Ningbo, China - Sydney, Australia - Melbourne, Australia - Auckland, New Zealand - Bluff, New Zealand - Lyttelton, New Zealand - Wellington, New Zealand - Napier, New Zealand - Tauranga, New Zealand - Melbourne, Australia - Brisbane, Australia - Hong Kong.

Source: MSC Mediterranean Shipping Company

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