1. New Century Logistics Plans to Raise $6.25 Million  

On September 12, it was reported that New Century Logistics' latest prospectus shows that the company plans to issue 1.25 million shares at a price range of $4 to $5 per share, aiming to raise between $5 million and $6.25 million. Headquartered in Hong Kong, New Century Logistics is a provider of air and sea freight forwarding services, offering comprehensive global logistics services, including space sales, cargo pickup, and off-airport air cargo security checks.  

For the six months ending March 31, 2024 (unaudited), the company's revenue was $25.29 million, compared to $19.48 million for the same period last year. The corresponding net profit was $530,000 and $400,000, respectively.  

Source: New Century Logistics Prospectus

2. Temu’s U.S. Sales in August Grew by 37% Year-on-Year  

On September 12, it was reported that a Bank of America report shows signs of slowing growth for Temu in the U.S. market. According to BSM data, Temu's sales in the U.S. in August grew 37% year-on-year, down from 45% in July and far below the 99% increase in the second quarter of 2023. Bank of America analysts attribute the slowdown to a comparison with the surge in sales last year and market stabilization, following Temu’s rapid market share expansion in 2023.  

Source: Bank of America

3. SF Express Plans to Launch IPO in Hong Kong by End of September

On September 12, it was reported that SF Express plans to launch an IPO in Hong Kong as early as the end of this month, with an expected fundraising amount of at least $1 billion. SF Express has already listed on the A-shares market, and if the Hong Kong IPO is successful, it will become the first express delivery company with dual A+H shares. SF Express submitted its application for the Hong Kong listing to the Hong Kong Stock Exchange on June 28, 2024, and the application materials were published on the Exchange’s website the same day. This is SF Express’s second attempt to list in Hong Kong, following a previous application in August 2023, which has since expired.  

Source: Beijing News

4. Lufthansa Considers Acquiring a Stake in Air Baltic

On September 12, it was reported that Lufthansa Group is considering acquiring a stake in Latvia's Air Baltic ahead of its proposed initial public offering (IPO). According to insiders, negotiations are in the early stages, and no investment decisions have been made. Air Baltic’s management is preparing for an IPO by the end of 2024, with CEO Martin Gauss suggesting that the IPO could also take place in the first half of 2025.  

Source: Bloomberg

5. "2024 China Top 500 Enterprises" Released

On September 12, it was announced that the China Enterprise Confederation and the China Enterprise Directors Association have released the "2024 China Top 500 Enterprises" list. This year’s threshold for inclusion was 47.381 billion yuan, an increase of 3.83 billion yuan compared to last year. Among the top companies in the cross-border e-commerce logistics sector, nine enterprises made the list: JD.com (12th), Alibaba (21st), China Post (26th), COSCO Shipping (71st), SF Express (108th), Pinduoduo (116th), Air China (185th), China Eastern Airlines (190th), and YTO Express (420th).  

Source: CCTV

6. Over 70 Wide-body Freighter Flights from China Per Day  

On September 12, it was reported that Alvin Tay, Senior Vice President of Atlas Air, mentioned at the 2024 Global Smart Logistics Summit that since June of last year, more than 70 wide-body freighter flights have departed from China daily to deliver goods worldwide. Tay pointed out that "around 80% of global e-commerce requires air transport, especially in regions like ASEAN where air logistics solutions are essential to deliver goods to consumers due to geographical reasons."  

Source: Dahe Finance Cube

7. Zhengzhou = Budapest International Cargo Route Resumed  

On September 12, it was reported that a B747-400 freighter operated by Zhongyuan Longhao Airlines, carrying 92.8 tons of cargo, took off from the northern cargo area of Zhengzhou Xinzheng International Airport, flying directly to Budapest, Hungary. This marked the successful resumption of the Zhengzhou–Budapest route. The round trip takes approximately 23.5 hours, with flights departing from Zhengzhou four times a week on Tuesdays, Thursdays, Saturdays, and Sundays.  

Source: Henan Daily

8. Shopee Adds New Channel for Cross-Site Fulfillment  

On September 12, it was announced that Shopee will add the MYWH-SG pickup point channel (MYWH-SG CP) to its cross-site fulfillment feature starting from September 23, 2024. Through this channel, buyers will enjoy free shipping without any shipping charges. The channel is equipped with more than 1,000 SPX Express pickup points and will help improve store conversion rates and sales performance.  

Source: Shopee

9. eBay Launches New Advertising Dashboard

On September 12, eBay’s new Advertising Dashboard officially launched on all sites within the Seller Hub. The new dashboard includes a rebranding and upgrade of advertising products, allowing sellers to more easily analyze the performance of their ad campaigns and flexibly adjust strategies to boost sales.  

Source: eBay

10.TikTok Shop to Start Selling in Spain in December

On September 12, TikTok Shop announced its official entry into the Spanish market, with sales set to begin in December. Individual sellers will need to provide proof of address and identification documents such as DNI, passport, or driver’s license to register. Local companies will need a local warehouse, DNI or passport, certain proof of revenue, and company registration and VAT number documents to join.  

Source: TikTok Shop

11. Guangzhou Baiyun Airport’s Bonded Zone Exports Grow 244% in First Seven Months

On September 12, it was reported that cross-border e-commerce exports from Baiyun Airport’s bonded zone have continued to grow, with Pinduoduo’s Temu cross-border e-commerce processing center expanding capacity and increasing efficiency. The project has handled more than 10 billion yuan worth of consolidated shipments, driving a sharp rise in exports from the bonded zone. As of July, the zone’s total import and export value was 21.926 billion yuan, up 24.1% year-on-year, with exports reaching 12.444 billion yuan, an increase of 244.1%.  

Source: Guangzhou Commerce

12.MSC Announces New Independent Shipping Network

On September 12, MSC, the world’s largest shipping line, announced that starting in February 2025, it will launch a new independent shipping network for east-west routes. MSC plans to deploy 34 loops on five key trade routes, replacing the existing 2M Alliance with Maersk. This new network will offer unique and comprehensive solutions for east-west trade, with routes via both the Suez Canal and the Cape of Good Hope.

Source: MSC

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Official Account: Cross-Border E-Commerce Logistics Baixiaosheng