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Temu's Southeast Asia Sites Increase to 5! A Cross-border E-commerce Company Completes Hong Kong IPO Filing!

News source: author: 2024-10-09 Page View:68
Introduction:Temu Expands to Vietnam and Brunei;JD Express Launches Japan and Korea Routes;Aoji Technology Completes Hong Kong IPO Filing

1. Temu Expands to Vietnam and Brunei

 

As of October 9, Temu has launched in Vietnam and Brunei, expanding its Southeast Asian presence to five markets. Temu is now operating in 82 countries and regions worldwide. The initial version of the Vietnam site is basic, offering only English language support and accepting credit card payments. Two logistics companies are available, with a delivery time of 4 to 7 days, which is faster than deliveries to Malaysia and the Philippines. As seen on the Temu.vn page, the company's typical strategy—low prices and high discounts—remains in place, with some products already reaching over 100,000 sales.

 

Source: Temu.vn

 

2. JD Express Launches Japan and Korea Routes


JD Express International has officially opened express delivery services to Japan and South Korea. Consumers in both countries can now receive packages via JD Express from China. Domestic users can place orders through the JD Express app, with couriers able to pick up parcels within one hour. JD Express International aims to expand its services to more countries and regions while optimizing product offerings and service levels to enhance global efficiency.

 

Source: JD Logistics Bulletin

 

3. Aoji Technology Completes Hong Kong IPO Filing


On October 9, the China Securities Regulatory Commission released a notice confirming that Aoji Technology has completed its overseas IPO filing. The company plans to issue up to 147,702,300 shares and list on the Hong Kong Stock Exchange. Additionally, 81 shareholders will convert a total of 197,799,318 unlisted domestic shares into overseas listed shares.  


Aoji Technology, founded in September 2010 and headquartered in Shenzhen, primarily sells products via third-party e-commerce platforms such as Amazon, Walmart, and Wayfair in the U.S. and Europe. Its major brands include popular home furniture products like ALLEWIE and IRONCK.

 

Source: China Securities Regulatory Commission

 

4. Temu’s Semi-managed GMV in the U.S. Surpasses 20%  


Industry insiders revealed to Jingxi that Temu's semi-managed gross merchandise volume (GMV) in the U.S. accounts for over 20% of the platform's total, although it consumes 50% of the platform’s traffic. Temu's overall GMV is projected to reach $54 billion in 2024, with semi-managed sales aiming to hit 30% of the total, exceeding $16 billion. Some insiders believe this may limit the space for fully managed products. There are rumors that some fully managed products are being marketed as semi-managed to attract customers.

 

Source:Jingxi

 

5. DHL Opens New Distribution Center


DHL announced the relocation of its distribution center in Raleigh, North Carolina, to a larger facility in Concord. The new 162,836-square-foot center aims to improve parcel handling efficiency, especially during holiday peaks. Additionally, DHL Group unveiled a long-term growth strategy aimed at increasing revenue by 50% by 2030, focusing on e-commerce and digital development. The plan includes comprehensive services such as unified fulfillment and last-mile delivery.

 

Source: DHL

 

6. China Cargo Airlines Launches Guangzhou-Mexico Cargo Route


China Cargo Airlines launched a new cargo route from Guangzhou Baiyun International Airport to Mexico City International Airport. A fully loaded Boeing B777 cargo plane completed the maiden flight, marking a significant enhancement in international cargo capacity at Baiyun Airport and creating a more efficient air bridge for trade between China and Mexico.

 

Source: Guangdong Airport Group

 

7. MSC Air Cargo Partners with Hong Kong Air Cargo Terminals


On October 9, MSC Air Cargo, a subsidiary of the world’s largest shipping company MSC, selected Hong Kong Air Cargo Terminals (Hactl) to handle cargo for its newly launched Hong Kong flights. There will be three weekly flights to Hong Kong, and since December 2022, MSC Air Cargo has been operating flights to Hong Kong through a crew, maintenance, and insurance (CMI) agreement with Atlas Air.

 

Source:MSC Air Cargo

 

8. Fifth Full-cargo Route Launched from Xinjiang Airport


A fully loaded cargo flight operated by CMS Airlines departed from Urumqi International Airport to Tbilisi International Airport in Georgia. The Boeing B737-800F carried 18.55 tons of export goods valued at 1.34 million RMB. This is the fifth cargo route operated by Xinjiang Airport Group's logistics company, marking an accelerated effort to develop an "Air Silk Road" logistics hub.

 

Source:Xinjiang Airport Group

 

9. Shopee Thailand Introduces New Policy to Address Undelivered Orders


Shopee Thailand has rolled out new measures to address undelivered items. If a buyer claims not to have received a package despite its status as "delivered," Shopee will initiate a review process with the logistics provider. If the delivery failure is confirmed, Shopee will automatically refund the buyer and compensate the seller for the lost goods, with the amount capped at the carrier's maximum liability. This policy applies only to shipments supported by Shopee's logistics partners.

 

Source:Shopee

 

10. COSCO Shipping Holdings Issues Performance Forecast  


COSCO Shipping Holdings (601919) released a performance forecast, predicting a net profit of approximately 38.121 billion RMB for the first three quarters of 2024, a 72.72% year-on-year increase. In Q3 alone, the company expects a net profit of about 21.251 billion RMB, a 285.66% increase year-on-year. COSCO's revenues and net profit for the first half of the year were 101.201 billion RMB and 16.87 billion RMB, respectively, showing significant growth in Q3.

 

Source: COSCO Shipping Holdings

 

11. Mexico Requires E-commerce Platforms to Register and Pay Taxes


The Mexican tax authority announced stricter measures to combat smuggling and tax evasion, requiring platforms like Shein, AliExpress, Mercado Libre, Amazon, Privalia, and Temu to register with the Federal Taxpayer Registry (RFC) and charge taxes on consumer purchases. The new regulations have caused concern among retailers, who fear it may affect profit margins, though some support the push for compliance. With over one-third of Mexicans shopping online, the new policies create uncertainty for entrepreneurs.

 

Source: Mexican Tax Authority

 

12. Vietnam Changes Cross-border Trade Rules


The Vietnamese government announced Decree No. 122 of 2024, effective from January 1, 2030, requiring all import and export transactions to be processed at international ports and major border crossings. Additionally, from January 1, 2029, all cross-border transactions must be witnessed by border residents. The decree also introduces new payment rules for cross-border trade, restricting cash payments to transactions involving border residents. This move aims to standardize Vietnam's cross-border trade and improve the regulation of import and export activities.

 

Source:Go Global

 

 

END

The public account: Cross-border E-commerce Logistics Baixiaosheng


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