1. DHL Abandons a Major Logistics Acquisition

On November 11th, DHL Group CEO Tobias Meyer cautiously indicated during a recent earnings call that DHL may not participate in the bidding for U.S. freight forwarding company GXO Logistics, which had been rumored to be up for sale since early October. Meyer stated that DHL, currently the second-largest global freight forwarder after Kuehne+Nagel (though this may change after DSV's full acquisition of DB Schenker), does not wish to discuss the acquisition of GXO Logistics, adding that GXO does not meet DHL’s standards.

Source: YiHangyun

2.Aoji Corporation Goes Public in Hong Kong

On November 11th, Shenzhen-based cross-border e-commerce giant Aoji Corporation (commonly known as Aoji) was officially listed on the main board of the Hong Kong Stock Exchange. According to its prospectus, Aoji's revenue reached a remarkable 2.833 billion RMB in the first four months of this year, a 16.9% year-on-year increase, with net profit surging 96.9% to 189 million RMB. From 2021 to 2023, Aoji’s revenue was 9.071 billion RMB, 7.1 billion RMB, and 8.683 billion RMB, respectively, with net profits/losses of -590 million RMB, 223 million RMB, and 520 million RMB. Excluding the special circumstances in 2021, Aoji’s revenue and profit performance have been outstanding. Aoji successfully filed its prospectus with the Hong Kong Stock Exchange around seven months ago, with Huatai International acting as the sole sponsor. Now, Aoji has successfully landed on the Hong Kong main board, embarking on a new phase of growth in the capital market.

Source: Aoji Corporation

3. SF Express Reduces Hong Kong IPO Fundraising

On November 11th, market reports revealed that SF Express has reduced its fundraising target for its planned Hong Kong IPO to $1-1.5 billion, down from the initial $2 billion target floated last month, representing a reduction of up to 50%. SF Express is expected to go public in Hong Kong on November 27th, with pre-IPO roadshows potentially starting as early as this week. If the listing is successful, SF Express, which has been listed on the Shenzhen Stock Exchange since 2017, will become the first express delivery company with both "A+H" shares.

Source: LogClub

4. Hua Hu Airport Increases International Routes to 28 in October

On November 11th, Hua Hu International Airport set a new record for weekly international cargo flights, surpassing 200 flights for the first time in October. After midnight, a plane arrives every two minutes from different parts of the world. In October, Hua Hu Airport increased its international routes to 28, and its cargo and mail throughput exceeded 1 million tons. Each night, tens of thousands of packages rush through Asia's largest express parcel processing system, where they are unloaded, sorted, and reloaded within just five hours. With 79 domestic and international cargo routes, "same-day delivery nationwide and next-day delivery worldwide" is becoming a reality.

Source: Ezhou Hua Hu International Airport

5.Amazon Global Selling Opens First Innovation Center in Asia-Pacific

On November 11th, Amazon Global Selling officially opened its first innovation center in the Asia-Pacific region, located in Shenzhen. With support from the Shenzhen Municipal Government and the Qianhai Authority, the center will integrate resources from local cross-border e-commerce sellers, industry organizations, and service providers to create a hub for cross-border e-commerce innovation and incubation in the Asia-Pacific. The center will also leverage Amazon's global resources and third-party partners to accelerate innovation and enhance sellers' competitiveness, promoting high-quality development in cross-border e-commerce exports.

Source: Amazon Global Selling

6.Tokopedia to Cancel "Next Day Delivery" Service

On November 11th, Indonesian e-commerce platform Tokopedia announced it would discontinue its “Next Day Delivery” service starting November 13th. This change means sellers and buyers will no longer have access to this expedited delivery option. From that date, sellers who only offer next-day delivery will be automatically switched to other available delivery methods. Despite this change, Tokopedia will continue to offer users multiple delivery options to meet different needs, including instant delivery, same-day delivery, regular shipping, economy shipping, and Kargo services.

Source: Tokopedia

7. Shopee Helps Sellers Achieve Big Sales

On November 11th, the excitement for the 12.12 sales event is already building, with category managers ready to highlight trending and high-potential products across various sites, helping sellers achieve year-end peak performance. Currently, the "Chat Broadcast" feature has been rolled out across all Shopee sites, enabling sellers to efficiently drive traffic and boost conversions. To support sellers in maximizing their sales potential, Shopee has launched three key resources: the 12.12 Product Selection Guide, high-conversion marketing broadcast tips, and the latest incentives for short videos & DIY short drama series.

Source: Shopee Cross-Border E-Commerce

 8. Wildberries to Increase Logistics Costs in November

On November 11th, Wildberries announced an increase in logistics costs. The previous logistics fee was 33 rubles per liter plus an additional 8 rubles per liter. The new rates will be 38 rubles per liter plus an additional 10 rubles per liter. The impact of this cost increase will vary depending on the nature of the goods.

Source: Wildberries

9.Swissport to Acquire ViaEurope

On November 11th, Swissport announced that it had reached an agreement to acquire ViaEurope, an end-to-end e-commerce logistics company. ViaEurope provides e-commerce services at major airports across Europe, including Amsterdam, Brussels, Budapest, Frankfurt, and Liège. This acquisition will provide shippers, freight airlines, and freight forwarders with a single point of contact and comprehensive services, covering all aspects of product transportation. According to Swissport CEO Warwick Brady, ViaEurope will offer leading solutions in the fast-growing e-commerce logistics sector. Industry analysts predict that cross-border e-commerce cargo volumes will grow by more than 50% by 2027.

Source: Cross-Border E-Commerce Logistics OmniSage

10. Shenzhen's Import and Export Volume Reaches 3.37 Trillion RMB in First Three Quarters

On November 11th, Shenzhen’s total import and export volume reached a record high in both the first three quarters and the third quarter of 2024. In the first three quarters, total imports and exports reached 3.37 trillion RMB, up 20.9% year-on-year (YoY), outpacing both national and provincial growth rates. Exports were 2.14 trillion RMB, up 19.7%, while imports were 1.23 trillion RMB, up 23.1%. The main driver of Shenzhen’s foreign trade growth was the private sector, with private enterprises contributing 2.39 trillion RMB in imports and exports, up 30.8%, accounting for 70.9% of the city's total trade. In comparison, foreign-invested enterprises' trade was 822.74 billion RMB, up 2.7%, representing 24.4% of the total.

Source: Shenzhen Customs

11.Sichuan Government Issues New Plan

On November 11th, the Sichuan Provincial Government released a three-year action plan to enhance the Chengdu International Aviation Hub and promote the construction of the "Air Silk Road." The plan calls for the development of multimodal transport, further integrating air-rail and air-road transportation systems, particularly for express parcels and fresh produce. It also includes support for the establishment of international mail sorting centers, cross-border e-commerce distribution centers, and global supply chain management centers at Chengdu Airport. Additionally, the plan focuses on building a robust cold chain logistics park for key industries such as pharmaceuticals, fresh produce, and agriculture in western China.

Source: Sichuan Postal Administration

12.CMA CGM Resumes Red Sea Shipping Routes

On November 11th, CMA CGM announced the resumption of its shipping service across the Red Sea. According to its updated sailing schedule, starting in mid-November, the company will adjust its "India America Express" (INDAMEX) service to operate through the Suez Canal. This change will reinstate stops at Damietta and Jeddah ports in both directions and add a westbound stop at Tanger Med.

Source: CMA CGM

END

Cross-border E-commerce Logistics Baixiaosheng