1. GuoHuo Aviation Starts IPO Subscription

On December 20, GuoHuo Aviation, which plans to list on the Shenzhen Stock Exchange’s main board, officially started its IPO subscription. The company will issue a total of 132.118 million shares, with 19.818 million shares available for public subscription. The IPO price is set at 2.30 yuan per share, with a price-to-earnings ratio of 25.56x. The subscription code is 001391, and the subscription limit for a single account is 396,000 shares, with subscriptions in multiples of 500 shares.

GuoHuo Aviation’s controlling shareholder is China Aviation Capital, a wholly-owned subsidiary of the Aviation Industry Corporation of China (AVIC), which is the actual controller. In 2024, the company expects to achieve revenue of 2.042 billion yuan, a year-on-year increase of 36.89%, and a net profit attributable to the parent company of 145.88 million yuan, up by 26.47% compared to the previous year. The funds raised from the IPO will be used for aircraft introduction, spare engine procurement, improvement of logistics capabilities, and the construction of information and digitalization projects.  

Source: Securities Times

2. JD Logistics Launches 2025 Global Integrated Supply Chain Strategy

On December 20, JD Logistics held a release event for its 2025 Global Integrated Supply Chain Strategy, further clarifying its overseas expansion roadmap. The company is fully advancing its global warehouse network, express delivery network, and air network to provide global services for overseas customers, Chinese brands expanding abroad, and cross-border merchants. Specifically, JD Logistics plans to establish an overseas warehouse delivery timeline of "2-3 day delivery" and expand the "Express Delivery to Global" service range. The company will also build an international air network to serve as the aerial artery of global supply chains. In addition, JD Logistics will launch global simplified reverse logistics services and integrated delivery and installation services for large items in overseas warehouses.  

Source: JD Logistics

3. GoodCang Becomes a Partner Warehouse for TikTok Shop

On December 20, TikTok Shop announced the success of its "Black Friday" sales in the U.S. and revealed its list of partner overseas warehouses for the U.S. region. GoodCang’s overseas warehouses were among the first to be selected as a service provider. With 18 years of operational experience, GoodCang offers a 5A-grade logistics service and vast warehouse capacity, including eight major warehouses in the U.S. totaling 1.2 million square meters. This will help TikTok Shop’s business flourish. Merchants can now link their inventory directly with GoodCang’s warehouses.  

Source: GoodCang

4. TEMU Becomes Brazil's Fifth Largest E-commerce Platform

On December 20, research firm Conversion released a report showing that TEMU's clicks in Brazil surpassed 107 million in November, capturing a 3.6% market share. Since entering the Brazilian market in May of this year, TEMU has quickly overtaken platforms such as Olx, SHEIN, AliExpress, and Magazine Luiza, becoming Brazil's fifth-largest e-commerce platform. The top four platforms are Mercado Livre (12.2%), Shopee (8%), Amazon (7.7%), and Samsung (3.7%), while SHEIN and AliExpress ranked eighth and ninth, respectively. The top ten e-commerce platforms together account for 50.2% of Brazil's e-commerce market share.  

Source: Conversion

5. DHL Express Opens Subsidiary in Suqian

On December 20, DHL Express officially opened a new subsidiary in Suqian, Jiangsu. This move marks the completion of DHL Express’s direct service coverage across the entire province of Jiangsu, making it the only international express delivery company to hold an international courier operation license in all 13 prefecture-level cities of Jiangsu. Goods from various parts of Jiangsu will be consolidated and processed at DHL's shared service center in the province before being exported via DHL’s Wuxi port and North Asia hub in Shanghai for further international transportation.  

Source: DHL

6. TikTok Shop Holiday Sales Surge by 225.9% Year-on-Year

On December 20, Earnest Analytics reported that consumer spending during the holiday season (from November 1 to December 4) grew by 0.1% year-on-year. Chinese e-commerce brands continued to outperform other retailers. TikTok Shop saw a remarkable 225.9% year-on-year increase in sales during this period, with slight growth compared to pre-holiday sales. SHEIN and TEMU also recorded year-on-year growths of 20.5% and 18.5%, respectively. In contrast, major U.S. retailers like Amazon (-0.5%), Target (-4.6%), and Best Buy (-7.8%) saw declines in sales.  

Source: Earnest Analytics

7. DHgate Updates Logistics Assessment Standards

On December 20, DHgate announced that it has upgraded its “8-day non-online rate” assessment to the “8-day non-storage rate” assessment. The updated data dashboard is now available for merchants to view related metrics under "My DHgate - Store - Merchant Capabilities - Logistics Fulfillment Metrics." Merchants are advised to optimize their shipment management to meet the new standards.  

Source: DHgate

8. Shopee Upgrades Service Rates for Philippines Site

On December 20, Shopee announced upgrades to the platform’s basic services in the Philippines, effective January 1, 2025 (Beijing time). These updates include the integration of FSS activities into the platform’s basic services, where free shipping services will incur no additional service fees. Overseas warehouses, third-party warehouses, and cross-border stores will enjoy lower rates. Commission rates for overseas warehouses and third-party warehouses will be adjusted to 4.50%–11.56% (including tax).  

Source: Shopee

9. U.S. Supreme Court to Hear TikTok’s Appeal

On December 20, the U.S. Supreme Court agreed to hear TikTok’s appeal against the government’s forced divestiture order. A constitutional debate on the matter will take place next month. Earlier this month, a federal appeals court ruled that the divestiture order was legal, citing it as a reasonable measure to address national security threats. TikTok has filed an emergency motion requesting the Supreme Court to block the enforcement of this law. According to the law, TikTok must sell its U.S. operations by January 19, 2025, or face a ban in the U.S.  

Source: Times Finance

10. China and Malaysia to Develop Air Cargo "Dual Hub" Strategy

On December 20, Malaysia’s Transport Minister, Anthony Loke, announced at the 2024 Malaysia-China Summit that the Ministry of Transport is focusing on expanding its freight sector, including plans to transform Kuala Lumpur International Airport (KLIA) into a major air cargo hub for Southeast Asia. Malaysia Airport Holdings has entered into discussions with China’s Henan Airport Group, aiming to establish a “dual hub” strategy, with Zhengzhou serving as China’s air cargo hub and KLIA as the gateway to ASEAN, connecting China and Southeast Asia.  

Source: Air Cargo News

11. Logistics Giant’s Fund Completes Fundraising

On December 20, Prologis Capital (GCP), the fund management platform under Prologis, announced that its latest China Income Fund, Prologis China Income Fund XIII (CIF XIII), had successfully completed its fundraising, with an investment size of 2.8 billion yuan. The fund will invest in logistics parks and innovation industrial parks in core cities across the Greater Bay Area, Yangtze River Delta, and Central and Western China. These logistics parks will mainly serve third-party logistics, e-commerce retail, and new energy industries, while innovation parks will focus on emerging industries such as biomedicine, information technology, semiconductors, and new materials.  

Source: GLP

12. Shenzhen’s Foreign Trade Exceeds 4 Trillion Yuan in First 11 Months

On December 20, Shenzhen Customs reported that the city's foreign trade reached 4.11 trillion yuan in the first 11 months of the year, a 17.4% year-on-year increase, surpassing both national and provincial growth rates and hitting a record high. Exports amounted to 2.59 trillion yuan, up by 16%, while imports totaled 1.52 trillion yuan, growing by 19.8%. Both figures set historical highs for the same period. This marks the first time Shenzhen’s foreign trade has exceeded the 4 trillion yuan milestone.  

Source: Shenzhen Customs

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