1. SF Express and Kerry Logistics Sign HKD 745 Million Purchase Agreement  

On January 7, Kerry Logistics (00636) announced that it plans to repurchase perpetual convertible securities. According to the announcement, the company signed a purchase agreement with SF Express (Hong Kong) Co., Ltd. for HKD 745 million. The total principal of the repurchased convertible securities is HKD 780 million, with a coupon rate of 3.3%. As of the valuation date, September 30, 2024, the independent appraiser evaluated the fair value of these securities at HKD 745 million.

The repurchase is mainly due to the business restructuring, which resulted in KEXThailand no longer being a subsidiary of the company, making the funds originally intended for its expansion unnecessary. This repurchase will provide greater financial flexibility, and it is expected that the company’s annual interest expenses will decrease by approximately HKD 25.74 million. Additionally, KEXThailand is expected to repay a loan of about 1.9 billion Thai Baht (approximately HKD 437 million), which will help fund the repurchase.  

Source: Caizhong

2. SHEIN Ranked Fifth Among Global Top 10 Unicorns

On January 7, BestBrokers released the 2024 global unicorn ranking, and SHEIN ranked fifth with a valuation of USD 66 billion.  

The top 10 unicorns in the list include: SpaceX (1st, valuation USD 350 billion) ;ByteDance (2nd, valuation USD 225 billion); OpenAI (3rd, valuation USD 157 billion);Stripe (4th, valuation USD 70 billion) ;SHEIN (5th, valuation USD 66 billion) ;Databricks (6th, valuation USD 55 billion)  ;xAI (7th, valuation USD 50 billion) ;Revolut (8th, valuation USD 45 billion) ;Canva (9th, valuation USD 32 billion) ;Fanatics (10th, valuation USD 31 billion)  

Source: BestBrokers

3. Pinduoduo Expands Cross-Border Free Shipping to Singapore and Other Regions

On January 7, Pinduoduo announced that its cross-border free shipping service now covers regions including Macau, Taiwan, Singapore, Japan, and South Korea, with plans to expand to other countries and regions. Sellers only need to send the corresponding parcels from these regions to the designated consolidation warehouse. After acceptance, the parcels will be consolidated, cleared, and delivered to the consumers.  

For users in Hong Kong and Macau, Pinduoduo provides a free shipping service with no minimum purchase. In Taiwan, free shipping is available for orders over RMB 49, while Singapore offers free shipping for orders above SGD 99. For Japan and South Korea, orders above RMB 179 will also be eligible for free shipping. However, some Hong Kong users have reported limitations, such as weight restrictions and the inability to select self-pickup options. 

Source: Phoenix Net

4. China Eastern Airlines Logistics Reports Transaction of CNY 40.56 Million

On January 7, China Eastern Airlines Logistics had seven large block transactions totaling 2.6168 million shares, with a transaction value of CNY 40.56 million and an average transaction price of CNY 15.50 per share. The stock closed at CNY 16.83, down 1.98%, with a total transaction amount of CNY 548 million. The block transaction accounted for 7.41% of the day's total trading, with a discount of 7.90%.  

Source: Caizhixing

5. TEMU Adjusts Store Opening Policies

On January 7, TEMU made significant adjustments to its store opening policies. Under the old policy, a company could open up to 20 sub-stores, but the new policy allows only up to two stores per company, one non-semi-managed and one semi-managed store. Existing sellers will have their store numbers fixed and no new stores will be allowed. For example, if a company has already opened three stores (including fully managed and semi-managed), it cannot add more stores. The adjustment aims to optimize platform management and improve seller service quality.  

Source: TEMU

6. Amazon Opens Same-Day Delivery Center

On January 7, Amazon opened a new same-day delivery center in Ankeny, Iowa, as part of its expansion of the delivery network in central Iowa. This 150,000 square-foot facility, located near Des Moines, will provide same-day delivery services for Amazon Prime members within a 50-mile radius. The facility aims to handle up to 10 trucks of goods daily, and as capacity increases, it will process more items and inventory.  

Source: Amazon

7. TikTok Shop to Launch in Mexico

On January 7, TikTok Shop will officially launch in Mexico on January 13, opening the first batch of store registrations. Merchants can upload products, and influencers can apply for samples and prepare videos. The influencer sales feature will be available on February 6, and the TikTok Shop marketplace will open on February 13.  

Source: TK Observation

8. Cross-Border E-Commerce Direct Purchase Model Launches at Hangzhou Airport

On January 7, a batch of goods from Osaka, Japan, arrived at Hangzhou Xiaoshan International Airport on SF Airlines flight O3278 on December 30, 2024. After quickly completing customs declaration and inspection procedures, the goods were placed on shelves, ready to be shipped into the domestic market and delivered to consumers. This marks the first batch of goods imported under the "cross-border e-commerce direct purchase" model at Hangzhou Airport in 2024.  

Source: Chao News

9. UK Increases E-Commerce Tax Collection Efforts

On January 7, the UK tax authority announced strengthened efforts to collect taxes from e-commerce sellers. Sellers whose profits from online transactions exceed the personal allowance of GBP 10,600 or those whose online trading profits exceed GBP 100 are required to pay taxes. To combat tax evasion, the HMRC has requested major e-commerce platforms such as eBay, Etsy, and Gumtree to submit a large volume of seller account information, including names, emails, and details of products sold.  

Source: Daily Mail

10.TikTok Shop Tokopedia to Refund Overcharged VAT

On January 7, due to changes in Indonesia's VAT policy, platforms such as TikTok Shop and Tokopedia have refunded the 1% VAT difference on advertising fees. Sellers also reported that VAT on advertising costs for Tokopedia and Shopee has been restored to 11%. The Ministry of Finance's tax bureau confirmed that the excess VAT charged on non-luxury goods at a 12% VAT rate would be refunded.  

Source: Ewin

11. New International Freight Route Opens from Zhengzhou

On January 7, Zhengzhou opened a new international freight route to Billund, Denmark. This is the first direct cargo route from Henan Province to Northern Europe. The route will be operated by Maersk Air Cargo, with six weekly flights on Mondays, Tuesdays, Wednesdays, Fridays, Saturdays, and Sundays. The launch of this route expands Zhengzhou's international cargo airline network and strengthens the air corridor to Northern Europe. 

Source: Air Freight News Express

12. New Cross-Border E-Commerce Full-Freight Route Opens

On January 7, a B767F full-freight aircraft carrying about 50 tons of cross-border e-commerce goods took off from Zhengzhou Airport, heading to Tashkent, Uzbekistan, with a stopover before reaching Istanbul, Turkey. This marks the official launch of the "Zhengzhou-Tashkent-Istanbul" cross-border e-commerce full-freight route, jointly operated by Zhongdamen International Logistics Group and Uzbekistan's Central Asia Airlines. This addition strengthens Henan's "Air Silk Road" and expands the cross-border e-commerce cargo routes to Europe, the US, and other major markets.  

Source: Dahe Net

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