1.SF Express Passes HKEX Listing Hearing

On November 12, it was reported that SF Holding Co., Ltd. has passed the Hong Kong Stock Exchange (HKEX) main board listing hearing and has launched its PDIE (Pre-Deal Investor Education). SF Express is set to become the first courier company to be listed on both the A-shares and H-shares ("A+H"). Previously, on November 11, SF Holding (002352) initiated its PDIE, targeting a listing by the end of the month.  

According to IFR, SF Express aims to raise $1-1.5 billion through its Hong Kong IPO. If successful, it will be the second-largest new listing this year, behind Midea Group's (00300) IPO in September.  

Source: HKEX

2.An International Logistics Company Updates IPO Prospectus

On November 12, it was reported that Ningbo Haoxin International Logistics Co., Ltd., the ultimate parent company of Haoxin Holdings Limited (“Haoxin International Logistics”), has updated its IPO prospectus with the U.S. Securities and Exchange Commission (SEC). The company, trading under the code HXHX, plans to list on the NASDAQ. The updated prospectus includes financial data.  

For the first half of 2024 (unaudited), Haoxin International Logistics reported revenue of $9.36 million, compared to $10.28 million in the same period last year. Net profit for the period was $1.22 million, down from $1.63 million the previous year. Haoxin plans to issue 2 million Class A shares at a price range of $4-6 per share, aiming to raise $8-12 million.  

Source: Haoxin International Logistics

3.SHEIN's Physical Company Reaches $8.3 Billion in Annual Sales

On November 12, it was reported that the sales of Shein’s Irish-registered entity, InfiniteStyles Ecommerce Co., grew by 68% in 2023, reaching €7.684 billion ($8.36 billion).  

The fast fashion platform SHEIN’s sales in Europe surged by 68% to €7.68 billion, significantly improving profitability. SHEIN has rapidly risen to become one of the top ten most popular online stores in Switzerland. The company's after-tax profit reached €99.5 million, nearly doubling compared to 2022. Meanwhile, gross profit increased from €172 million in 2022 to €314 million in 2023.  

Source: Reuters

4. TikTok Shop Releases New Rules for Cross-Border Direct Shipping of POP Brands

On November 12, TikTok Shop announced new application rules and procedures for cross-border direct shipping for POP brands. The new guidelines clearly define four types of merchants eligible to apply: content merchants, apparel merchants, non-apparel merchants, and merchants with significant brand influence and operational strength in the U.S. market. Content merchants must have more than 50% of their GMV generated from self-made content or rank in the top 10 categories of TikTok Shop U.S. for self-made content GMV. After approval, merchants must meet additional criteria to avoid disqualification.  

Source: TikTok Shop

5. FedEx Increases Frequency of an International Freight Route

On November 12, FedEx announced the increased frequency of its international freight route between Qingdao and the U.S. and the official launch of its Qingdao International Gateway Operations Center, further enhancing its logistics network in China.  

The route departs from Qingdao Jiaodong International Airport, stops in Osaka, Japan, and heads to Memphis, Tennessee. The route has been operating once a week since May but has been upgraded to five flights per week, from Monday to Friday, using B777 freighters. The increased flights have reduced the transit time for customers in Qingdao and Shandong to export packages and heavy goods to North America by one day, with some U.S.-bound shipments now eligible for next-day delivery.  

Source: FedEx

6.COSCO Shipping Lines Partners with Midea for Cross-Border E-commerce

On November 12, it was reported that products from Midea’s “Double 11” sales successfully arrived at their Singapore overseas warehouse, transported by COSCO Shipping Lines, and were promptly stocked and displayed.  

The partnership between COSCO Shipping Lines and Midea covers multiple key steps in the supply chain, from ocean shipping, destination port unloading, customs clearance, and trucking to overseas warehousing. This efficient cross-border logistics cooperation not only enabled Midea to stock its products quickly during the “Double 11” shopping festival but also provided strong support for the brand’s sales growth and market expansion.  

Source: COSCO Shipping Lines

7.eBay Shipping Changes Now in Effect

On November 12, eBay announced a series of shipping changes for its sellers. FedEx and UPS have both updated their peak season surcharge structures for shipments using eBay labels. Specifically, FedEx will waive demand surcharges on several services through January 19, 2025, and will discount handling surcharges for certain services. Meanwhile, UPS will apply demand surcharges and additional handling fees to all UPS Ground, Ground Saver, and Air packages shipped with eBay labels.  

Additionally, eBay International Shipping (EIS) will be modified from November 11, with automatic management of sellers' excluded shipping locations to expand product export coverage. Sellers who do not wish to participate in this change must notify eBay in advance. These shipping cost changes are significant for platform sellers, who are advised to monitor their settings and fees during the holiday shopping season to avoid unnecessary losses.  

Source: eBay

8. Ozon Helps Chinese Sellers Expand Market

On November 12, Ozon’s Belarus site, Ozon.by, officially opened to Belarusian residents, allowing them to purchase goods from China. The site currently features around 10 million products from China, covering more than 20 categories, including clothing, footwear, cosmetics, auto supplies, and furniture.  

The platform plans to double the number of product listings by December, further enriching the range of goods available. Belarusian users can enjoy free delivery, with an initial estimated delivery time of 3 to 4 weeks. Orders will be delivered to Belarusian Postal (BelPochta) locations, where users can select pickup stores through the Ozon website or app.  

Source: Ozon

9.Hohhot Airport Opens First Direct Intercontinental Cargo Route to Moscow

On November 12, a Tu-204 freighter operated by Russian airline Aviastar-Tu departed Hohhot Baita International Airport carrying 27.14 tons of cargo, marking the inaugural flight of the Hohhot-Ulan-Ude-Moscow route, scheduled to operate once a week.  

This is the first intercontinental cargo route from Hohhot Baita International Airport to Moscow, launched as part of Inner Mongolia’s strategy to open up to the north. The route establishes a new Eurasian air logistics corridor connecting Russia and Mongolia, laying the foundation for future growth in international trade, express delivery, and cross-border e-commerce.  

Source: Inner Mongolia News

10.China Airlines Considering Purchase of Four Freighters

On November 12, it was reported that China Airlines is considering purchasing four freighters and 20 passenger planes. According to China Airlines' official website, as of October 31, the airline’s fleet includes 17 freighters, consisting of nine B777Fs and eight B747-400Fs.  

Although China Airlines' current freighter fleet consists solely of Boeing aircraft, the airline has not indicated a preference for either Boeing or Airbus freighters. The outcome of the U.S. presidential election could influence its decision on which model to order. If the airline opts for the new-generation B777-8F or A350F, it may face a long wait for delivery.  

Source: Global Air Cargo

11. Air France-KLM Reports Third Quarter Performance

On November 12, Air France-KLM Martinair Cargo announced improvements in freight volume, revenue, and earnings for the third quarter, driven by rising demand in the Asia-Pacific region.  

Air France-KLM’s overall freight revenue increased by 0.6% in the third quarter to €561 million, while freight traffic revenue grew by 7.3% to €471 million. Freight volume rose by 3.5% to 226,000 tons, with the freight load factor improving by 0.7 percentage points to 45.5%. Capacity increased by 1.5%, and yield (revenue per available ton-kilometer) grew by 5.9%.  

Source: Air France-KLM

12.CMA CGM Reports Q3 2024 Earnings

On November 12, CMA CGM announced its Q3 2024 financial results, posting total revenue of $15.83 billion, a 38.5% year-on-year increase. EBITDA reached $4.96 billion, up 148.6%, with the EBITDA margin improving by 13.9 percentage points to 31.4%. Net profit surged to $2.73 billion, an increase of $2.34 billion compared to the same period last year, marking a 603.6% growth.  

For the first nine months of 2024, CMA CGM reported total revenue of $40.8 billion, a 12.0% increase year-on-year. EBITDA reached $9.83 billion, up 22.5%, with the EBITDA margin increasing by 2.1 percentage points to 24.1%. Net profit for the first three quarters reached $4.18billion, up 12.0% year-on-year.  

Source: CMA CGM

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Cross-Border E-commerce Logistics Baixiaosheng