1.EU to Investigate Temu

On November 1, it was reported that the European Commission is set to investigate the Chinese online retail platform Temu. Temu, part of PDD Holdings, must provide relevant information by a specified date. The Commission indicated that it will decide on further actions after evaluating Temu's response. Under the EU's Digital Services Act, companies with over 45 million users are designated as "Very Large Online Platforms" (VLOPs) and must take additional measures to combat illegal content and counterfeit products. Temu was designated as a VLOP in May.  

Source: Reuters

2.FedEx Launches New Automated Sorting Facility

On November 1, FedEx announced the launch of a new state-of-the-art automated sorting facility at its Memphis World Hub. This LEED-certified building is fully operational ahead of the holiday season. Covering 1.3 million square feet and spanning four levels, it includes 11 miles of conveyor belts and features a dedicated space for heavy and oversized cargo, sorting 56,000 packages per hour. The Memphis hub is FedEx's largest sorting center, with 13,000 team members and the capacity to handle 484,000 packages per hour.  

Source: FedEx

3.Eastern Airlines Logistics Reports Q3 Financials

On November 1, Eastern Airlines Logistics released its financial report, showing a revenue of 17.674 billion yuan for the first three quarters of 2024, a year-on-year increase of 24.19%. The net profit attributable to shareholders was 2.067 billion yuan, a 24.14% increase, with basic earnings per share of 1.30 yuan. In Q3 alone, revenue reached 6.388 billion yuan, up 31.55%, and the net profit surged 100.65% to 790 million yuan, with basic earnings per share of 0.50 yuan.  

Source: Eastern Airlines Logistics

4. Anjun Becomes Brazil's First Digitally Regulated International Express Warehouse

 On November 1, Wang Shouwen, the Vice Minister of Commerce and Chief Representative for International Trade Negotiations, visited Anjun's customs regulatory operation center at São Paulo Airport. The assessment team, led by the Brazilian Federal Revenue Service, completed the evaluation of Anjun's customs regulatory system, marking it as Brazil's first digitally regulated international express warehouse.  

Source: Anjun Express

5. China National Freight Establishes Warehousing Service Company in Zhengzhou

On October 31, it was reported that China National Freight (Zhengzhou) Warehousing Service Co., Ltd. has been established, with a registered capital of 100 million yuan. The company will operate domestic and international freight forwarding, handling and supply chain management services. It is wholly owned by China National Freight Logistics Investment Holdings Co., Ltd., which is fully owned by China National Freight Co., Ltd.  

Source: Tianyancha

6.SHEIN Partners with U.S. Brand

On November 1, The Children’s Place, a U.S. children’s clothing brand, announced a partnership with the fashion and lifestyle online retailer SHEIN, bringing the brand to the SHEIN platform. Since deepening its platform strategy last year, SHEIN has accelerated the introduction of global merchants and brands, with partnerships expanding rapidly.  

Source: Cross-border E-commerce Logistics OmniSage

7.Mercado Libre Opens Two New Distribution Centers in Mexico

On November 1, Mercado Libre announced the opening of two new distribution centers in the State of Mexico and Hidalgo, further consolidating its logistics expansion strategy. This latest move brings the total number of distribution centers in Mexico to 11, addressing the growing freight demand from local buyers and sellers.  

Source: Mercado Libre

8.Alibaba Launches Cross-border E-commerce App "TAO" in Japan

On November 1, Alibaba International Digital Commerce Group launched a new cross-border e-commerce app "TAO" aimed at the Japanese market. The app combines Alibaba's extensive e-commerce experience to provide Japanese consumers with a high-quality online shopping experience. To better serve Japanese users, Alibaba has established Tao Japan Co., Ltd. The app currently offers over 3 million products across various categories, with plans to expand further.  

Source: Tao Japan

9.Shopee Launches Shopee Outlet Feature

On November 1, Shopee introduced the Shopee Outlet feature as part of its "fast delivery" plan. This feature allows merchants to leave products for the Shopee team to sell, benefiting from faster delivery, quality products, and waived management and marketing fees. The service is available in five cities in Indonesia.  

Source: Shopee

10.Lazada to Impose Penalties for Order Cancellations

On November 1, Lazada announced a fulfillment assurance policy targeting cancellation rates and will stop penalizing sellers for cancellation rates except in serious violations.  

Source: Lazada

11. Maersk Releases Q3 Financial Report

On November 1, Maersk reported a significant increase in revenue, reaching $15.8 billion (up from $12.1 billion last year), driven by rising freight rates and improved cargo volumes across various business segments. EBITDA reached $4.8 billion (up from $1.9 billion last year), and EBIT was $3.3 billion (up from $538 million last year), primarily driven by the shipping sector.  

Source:  Maersk

12.COSCO Shipping Holdings Reports 285.7% Increase in Q3 Net Profit

On November 1, COSCO Shipping Holdings released its Q3 earnings report, showing strong growth with a revenue of 73.513 billion yuan (up 72% year-on-year). The company's EBITDA was 29.757 billion yuan (up 248.93%), and net profit reached 24.091 billion yuan (up 281.12%). The net profit attributable to shareholders was 21.254 billion yuan (up 285.70%).  

Source: COSCO Shipping

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