1.October Cargo Data Released by Six Major Listed Airlines

On November 25, several A-share listed airport and airline companies released their performance forecasts for October 2024. China Southern Airlines reported a cargo and mail volume of 163,300 tons, with 75,600 tons on international routes. Air China's cargo and mail volume reached 137,600 tons, with 42,000 tons on international routes. China Eastern Airlines posted a cargo and mail volume of 92,300 tons, with 35,600 tons on international routes. Hainan Airlines registered a cargo and mail volume of 44,200 tons, including 10,300 tons on international routes. Juneyao Airlines recorded a cargo and mail volume of 13,900 tons, with 4,400 tons on international routes, and Spring Airlines reported a cargo and mail volume of 820 tons, with 585.82 tons on international routes.

Source: China Federation of Logistics & Purchasing's Aviation Logistics Branch

2.Pinduoduo's Q3 Revenue Increases by 44% Year-on-Year

On November 25, Pinduoduo released its Q3 2024 earnings report. The report shows that Pinduoduo's revenue for the third quarter was 99.35 billion yuan, an increase of 44% year-on-year. Operating profit was 24.29 billion yuan, up 46% year-on-year. Non-GAAP operating profit was 26.77 billion yuan, a 48% increase year-on-year. Net profit attributable to shareholders was 24.98 billion yuan, up 61% year-on-year, and non-GAAP net profit was 27.46 billion yuan, also up 61%. However, this marks Pinduoduo's lowest growth rate since Q2 2022, with adjusted net profit declining by 22% quarter-on-quarter, falling far short of market expectations.

Source: Pinduoduo

3.Temu's Growth Momentum Weakens

During the earnings call, Pinduoduo management noted that the competition facing its global business is becoming increasingly fierce. Coupled with a complex external environment, Temu's business is inevitably subject to fluctuations and impacts. This suggests that Temu, once seen as a promising growth engine, is gradually becoming an unpredictable strategic burden. According to LatePost, in the past ten months, multiple primary and secondary leaders were sent by Temu to double the number of available products this year. 

The aggressive target for its semi-managed business, which launched in March, aimed to generate $20 billion in GMV, representing a third of its overall goal. However, as of October, in the U.S. and European markets, Temu's semi-managed model, which was seen as a potential challenger to Amazon, failed to meet its recruitment and product quantity targets. Even outside the U.S., Temu's growth momentum has significantly weakened, with global app downloads dropping sharply from the peak in July 2023.

Source: LatePost

4.Temu Opens to All U.S. Sellers

On November 25, Temu ramped up efforts to recruit independent sellers from Amazon. For the past six months, the China-backed e-commerce newcomer has been inviting U.S. sellers to join its fast-growing discount platform—but only with a unique invite code. Now, any U.S. brand or individual seller can register to sell on Temu.

Source: Bianews

5.Removal of Small Package Benefits Won’t Affect China's Cross-Border E-Commerce Competitiveness

On November 25, Wang Shouwen, China's Vice Minister of Commerce and International Trade Representative, said during a regular State Council policy briefing that cross-border e-commerce remains a strong force in international trade, including in China. Despite the removal of preferential treatment for small packages, cross-border e-commerce still retains its inherent advantages and remains highly competitive. To support the development of new business models, four specific measures were introduced in the "Policy Measures for Promoting Stable Growth of Foreign Trade": strengthening supply-demand connections, ensuring compliance, developing cross-border e-commerce to empower industrial clusters, and deepening international cooperation.

Source: Ministry of Commerce

6.China Southern Cargo Volume at Guangzhou Airport Increases by 26% Year-on-Year

On November 25, Qu Guangji, Vice President of China Southern Airlines, revealed that the company’s cargo and mail volume at Guangzhou Baiyun Airport grew by 26% year-on-year, with transfer volume up by 12%. With Guangzhou as the core, China Southern has deployed eight B777F freighters and launched several international cargo routes, expanding markets in Mexico, Saudi Arabia, and Hungary. Its logistics network now covers North and South America, Europe, and the Middle East, forming a comprehensive network that connects major cities in Asia, Europe, Australia, and Africa through both cargo and passenger flights.

Source: China Southern Logistics

7.FedEx Expands Air Cargo Network in Southern India

On November 25, FedEx launched a new air cargo service between Guangzhou, China, and Bangalore, India, to optimize import and export channels in southern India. This service reduces transit time by one business day and increases weekly flights to Bangalore to 22. India is an important growth market for FedEx, and the new service enhances southern India's role in global trade, ensuring faster entry of key imports such as lithium-ion batteries and parts, while expanding export capacity to Europe and the U.S.

Source: FedEx

8.TikTok Shop Launches "Platform-Connected Overseas Warehouse" in the U.S.

On November 25, TikTok Shop introduced a new option for cross-border sellers shipping from the U.S. to use overseas warehouses. Under the "platform-connected overseas warehouse" model, sellers who authorize cooperation can have order fulfillment handled by pre-integrated overseas warehouses, though it is still considered a self-fulfillment model. This setup improves product display accuracy and transparency in logistics metrics, while offering logistics assessment exemptions and other benefits for eligible orders.

Source: TikTok Shop

9.Alibaba Integrates Domestic and International E-commerce Businesses

On November 25, Alibaba Group CEO Wu Yongming announced in an internal email that the company has formed an e-commerce business group, integrating domestic and international e-commerce businesses, including Taotian Group, International Digital Commerce Group, and two strategic innovation businesses, 1688 and Idle Fish. Jiang Fan will serve as CEO of the e-commerce group, reporting to Wu. In the email, Wu stated that e-commerce has entered a new era, and Alibaba must enhance its global supply chain and consumer services.

Source: LatePost

On November 25, Shopee announced an update to its commission waiver policy. Sellers who list products for the first time will be exempt from commissions for the first 90 days of successful transactions. After 90 days, standard commissions will apply. For sellers with products listed for more than 90 days, standard commissions will apply starting December 1. For products listed for fewer than 90 days, the 90-day waiver period begins from the first listing. This change is designed to adapt to market growth and provide sustainable support.

Source: Shopee

11.Shenzhen Airport Launches Overseas Cargo Terminal

On November 25, Shenzhen Airport's Budapest overseas cargo terminal officially opened. Recently, Shenzhen Airport has launched two overseas cargo terminals in Europe, bringing the total number of overseas terminals to three, located in Budapest, Frankfurt, and Mexico City. These terminals offer one-stop logistics services to support "Shenzhen-made" products entering global markets and contribute to Shenzhen’s efforts to build a globally influential logistics hub. The Budapest terminal, operated by the China-Europe Trade and Logistics Cooperation Park, has over 11,000 square meters of storage space and an annual handling capacity of over 40,000 tons, accounting for more than 20% of Budapest Airport's total cargo volume.

Source: Civil Aviation Resource Net

12.Maersk Imposes Peak Season Surcharge

On November 25, Maersk announced that it will impose a peak season surcharge (PSS) on dry and refrigerated containers shipped from eastern Chinese ports, including Shanghai, Ningbo, Xiamen, Fuzhou, and the Yangtze River region, to Sihanoukville, Cambodia. The new rates, effective from December 6, 2024, will add $500 per container, including 45-foot large containers. Maersk’s rate adjustment aims to address rising market demand and ensure the stability and sustainability of its shipping services.

Source: Maersk

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