Douyin does supermarket Liu Qiangdong moves the knife executive丨Retail e-commerce weekly report

【Ebang Original】Douyin as a supermarket; Liu Qiangdong Knife executive; Kuaishou Cheng grabbed e-commerce with a smile; Meituan's revenue from new business segments in the third quarter increased by 39.7% year-on-year to RMB16.3 billion.

It's time to review the week's e-commerce events with Bang Xiaobai! This has happened in the retail e-commerce space over the past week.

# Platform-level dynamics #

1 Meituan: Revenue from new business segments in the third quarter increased 39.7% year-on-year to RMB16.3 billion

Meituan released its financial report for the third quarter of 2022. According to the financial report, the revenue of Meituan's core local commercial segment in the third quarter increased by 24.6% year-on-year to 46.3 billion yuan; Revenue from the new business segment increased by 39.7% year-on-year to RMB16.3 billion, mainly due to the expansion of the merchandise retail business. In the third quarter, Meituan's R&D expenditure continued to grow to 5.4 billion yuan. As of the end of the third quarter, Meituan's annual trading users in the past twelve months were 687 million.

2 Liu Qiangdong said that he will eliminate some JD.com executives from the last place

According to the delay, on November 20, at the JD.com management training meeting, Liu Qiangdong, chairman of the board of directors of JD.com Group in Hong Kong, accessed the meeting by video, and Liu Qiangdong announced at the executive meeting that more than 10% of executives will be eliminated at the end of this year. Liu also criticized retail executives, saying that when he listened to the strategy meeting, "Executives talk too much about bells and whistles, but too little about cost, efficiency, and experience, and if they don't grasp such a core strategy, it will be difficult to lead the team in the long run." ”

3 Liu Qiangdong issued a letter from all employees of JD.com: JD.com executives cut salaries by 10% to 20%, and invested 10 billion yuan to set up an employee housing security fund

Liu Qiangdong, founder and chairman of the board of directors of JD.com, issued a letter to all brothers of JD.com, proposing to improve employee treatment in various ways such as cutting the salary of executives. The letter mentioned that in order to improve the welfare of grassroots employees and minimize the pressure on the company, the group decided that from January 1, 2023, the cash compensation of all senior managers above the deputy director of JD.com Group and above the corresponding P/T sequence will be reduced by 10%-20%, and the higher the position, the more it will be reduced.

At the same time, the group set up a "housing security fund" for all grassroots employees of the group, including all Deppon brothers; Liu Qiangdong himself donated another 100 million yuan, and the group and various BGBUs will also contribute a certain proportion of cash to greatly expand the scale of the "Employee Child Rescue Fund". In addition, Liu Qiangdong also said that from January 1, 2023, he will gradually pay five insurances and one housing fund for hundreds of thousands of brothers in Debang.

4 Kuaishou: net loss of 2.712 billion yuan in the third quarter A net loss of 7.09 billion yuan in the same period last year

Kuaishou released its financial report for the third quarter of 2022. According to the financial report, Kuaishou had a net loss of 2.712 billion yuan in the quarter, compared with a net loss of 7.09 billion yuan in the same period last year, and the market expected a net loss of 3.73 billion yuan. In the third quarter, Kuaishou App's average daily active users increased by 13.4% year-on-year to a new high of 363.4 million, while average monthly active users increased by 9.3% year-on-year to 626.0 million. The average monthly paying users of Kuaishou App Live Streaming increased by 29.3% year-on-year to 59.6 million, and the monthly payment rate of live streaming continued to increase year-on-year.

5 Kuaishou Cheng Yixiao In the future, its main energy will be e-commerce

A few days ago, in the conference call after Kuaishou released its earnings report, Cheng Yixiao, founder and CEO of Kuaishou Technology, said, "At the time when the e-commerce business has developed rapidly to today's size and scale, it is more necessary to think about the development direction and development model of the business from a long-term perspective, and make the right choice that is truly beneficial to the user experience and the healthy development of merchants in the long term." In terms of the choice of trade-offs and the choice of input, my courage and confidence are definitely stronger than other students in the organization. Cheng Yixiao said that in the future, his main time and energy will be focused on the e-commerce business.

6 Douyin applied for registration of Douyin supermarket trademark

According to the Tianyancha App, Beijing Zijiao Network Technology Co., Ltd. recently applied for the registration of the trademark "Douyin Supermarket", which is internationally classified as advertising sales, education and entertainment, and the current trademark progress is under application.

7 Douyin's subsidiary company applied for the trademark of Zhiche Coffee

A few days ago, Beijing Youzhuju Network Technology Co., Ltd., a subsidiary of Douyin, applied for the registration of a number of "car knowledge" trademarks, including catering and accommodation, education and entertainment, etc., and the current trademark status is pending substantive examination. Beijing Youzhuju Network Technology Co., Ltd. was established in August 2017 and is wholly owned by Douyin Group (Hong Kong) Co., Ltd.

# New format news #

1 Taocai officially landed in Dalian

On November 24, Taocai Cai Dalian Central Warehouse was officially put into operation, providing "three meals a day" service for residents of 3 counties (including county-level cities) in 7 districts of Dalian through tens of thousands of small community shop groups. During the new opening of Dalian, Taocai launched a series of preferential activities and expanded seafood and other categories according to the taste preferences of local residents. Consumers who place an order before 10 p.m. through Taobao, Taote, Alipay, Cainiao App or WeChat Mini Program will be able to pick up the food and goods from the group point closest to their home the next day. Chen Ming, head of Taocaicai's supply chain, revealed that Taocaicai will also rhythmically promote the new Kaesong plan.

2 Luckin Coffee's net income for the third quarter was $3,895 million

On November 22, Luckin Coffee announced its third quarter 2022 financial report. During the reporting period, Luckin Coffee's total net income reached 3.895 billion yuan, a year-on-year increase of 65.7%. The net profit was 529 million yuan, compared with a net loss of 23.5 million yuan in the same period last year. The profit margin at the store level of self-operated stores was 29.2% to RMB806.7 million, and the growth rate of same-store sales was 19.4%. U.S. GAAP operating profit was $585 million, with an operating margin of 15%, breaking double digits for the first time and surpassing Starbucks.

3 "XinAn Preferred" completed 80 million yuan A+ round of financing

A few days ago, the milk direct supply smart retail brand "XinAn Preferred" announced the completion of the A+ round of financing, invested by Jefferies Capital Limited and Sujie Fund Management Co., Ltd. with an investment of 80 million yuan. The national landing of XinAn Premium Milk Direct Supply Station has entered the second stage, and this round of financing will be mainly used to accelerate market growth, unmanned retail technology innovation, and ecological construction of community private domain. In August, XinAn Youxuan completed a series A financing of 20 million yuan.

4 Ele.me and Douyin cooperated in Nanjing for the first time

Ele.me and Douyin have made substantial progress in their cooperation recently, after the two parties announced that the "See, Click, and Reach" local life scene experience has been the first to land in Nanjing. The "Ele.me Takeaway" Douyin mini program has also been launched in most cities across the country, and Douyin users can find the entrance by searching for keywords such as "Ele.me". The first batch of merchants includes a number of local head chain brands such as Nanjing Big Brand Stall, Little Chef Niang, Xijie Fried Skewers, some national chain brands and local small and medium-sized merchants in Nanjing, which are expected to cover more than 2,000 Nanjing stores.

5 Post Office Coffee's first "Day Coffee and Night Wine" concept store landed in Fuzhou

On November 20th, Post Office Coffee's first day coffee night wine concept store in China was officially opened in Fuzhou, Fujian Province. The store implements a new model of "day coffee and night wine", connecting day and night, and switching between café and bar, and the business hours are 10:00-23:30. The menu shows that coffee products include classic American style, original latte, cappuccino, etc., and non-coffee products include Jingui oolong milk tea, taro puree milk, Jingui oolong clear tea, etc., with prices ranging from 12.8 yuan to 22.8 yuan. Alcohol products are not yet available on the daytime menu.

6 Nayuki's tea replacement logo changed from NAYUKI to NAIXUE

On November 24, a Xiaohongshu user in Nanning, Guangxi Province, posted that the local Naixue Xindian sign had changed the original NAYUKI to pinyin NAIXUE, and the font had been changed to a version with more straight lines. In addition, the original Chinese name of the logo, "Nayuki no Cha", has also become "Nayuki's Tea". Asked Naixue to verify the matter, but did not receive a response. However, the official customer service of Naixue Xiaohongshu said under the above post that the brand is currently gradually undergoing VI upgrade iteration.

7 "Jelly Beans" completed a million angel round of financing

A few days ago, Internet celebrities and the new e-commerce comprehensive service platform "Jelly Bean MCN" recently completed a million-yuan angel round of financing, and the investor is Laughing Capital. The funds raised will be used for equipment procurement, labor costs and operating expenses.

# New consumption observation #

1 Xiaomi Group: Adjusted net profit of 2.1 billion yuan in the third quarter, 829 million yuan for smart electric vehicles and other expenses

Xiaomi Group released its financial report for the third quarter of 2022. According to the financial report, the adjusted net profit in the third quarter was 2.117 billion yuan, down 59.1% year-on-year, and the market expected an adjusted net profit of 1.986 billion yuan. This includes innovative business expenses such as smart electric vehicles and 829 million yuan. In September 2022, the number of global MIUI monthly active users was 564 million, a year-on-year increase of 78.1 million. In Q3, Xiaomi's R&D expenditure reached 4.1 billion yuan, a year-on-year increase of 25.7%. As of September 2022, R&D personnel accounted for nearly 48% of the total number of employees.

2 Luo Yonghao AR Company completed about $50 million in financing

Luo Yonghao's AR startup "Thin Red Line Technology" announced the completion of an angel round of financing of about $50 million, with a post-investment valuation of about $200 million. This round of financing was led by Meituan Dragon Ball, with investment institutions such as Lanchi Venture Capital, Lenovo Venture Capital, Matrix Partners Venture Capital, DJI, ATM Capital, as well as well-known figures in the technology industry such as Li Wanqiang and Wu Yongming, and Chuangling Capital acting as the exclusive financial advisor.

According to public information, Thin Red Line Technology was founded in June 2022 and is committed to building a next-generation personal computing device platform after smartphones. Earlier this year, Luo Yonghao said that he believed that AR was the next generation of computing platform, and said that his hardware team would develop an engineering machine every year, in principle, only for internal development and use, until the commercialization conditions and the overall environment are generally mature before starting sales.

3 The employee claimed that WM Motor's salary discount of 5% was true

According to Phoenix Net Finance, it is reported that Shen Hui, chairman and CEO of WM Motor, said in an open letter to internal employees that in order to cope with financial pressure, the company's management took the initiative to cut salaries by half, while streamlining the company's overall operating expenses, and will reduce operating costs through a series of financial measures. A WM employee told reporters: "I did receive this internal letter in my mailbox. ”

The open letter shows that from October 2022, managers at the level of M4 and above will take the initiative to reduce their salaries and pay 50% of their basic salary; Other employees are paid 70% of the base salary; Adjust the company's payday, from the 8th of the following month to the 25th of the following month; This year, additional bonuses (13th salary), retention bonus (14th salary) and year-end bonus will not be paid, and the payment of car purchase subsidies will be suspended.

4 Outdoor functional clothing brand "Hot Awakening Rexing" completed a multi-million RMB angel round of financing

Outdoor functional clothing brand "Rexing" has recently completed a multi-million yuan angel round of financing. This round of financing is strategically invested by Vipshop, and the financing funds will be mainly used for team expansion, brand building and improving the supply chain system.

5 "Fast Forward Store" completed a multi-million dollar angel round of financing

A few days ago, the smart retail platform "Fast Forward Store" has completed a multi-million yuan angel round of financing, which is exclusively invested by Xiaoyi Venture Capital. This round of financing will be mainly used for store development and hardware research and development. Founded in 2021 and headquartered in Xiamen, Fujian Province, Fast Forward Store focuses on providing smart retail transformation solutions for traditional offline merchants.

6 Coffee brand monster trapped for angel round financing

The cutting-edge coffee chain brand monster has recently announced that it has completed a multi-million yuan angel round of financing, and the investor is Nai Xue's tea fund - Meiyue Own Power. Monster Trapped was founded in May 2022, with a high-value differentiated brand image, to create a small but beautiful, strong profitability, brand culture and creativity of a new fresh fruit coffee brand. The brand takes the affordable and high-quality product positioning, the average price is in the range of 12-19 yuan, and there are currently more than 20 SKUs, of which "big pineapple ice extract American", olive plum American style, durian latte is a popular traffic product.

7 Domino's China passed HKEX hearing

On November 20, Dash Co., Ltd. passed the hearing and prepared to list in Hong Kong. Domino's (Domino's China) is the exclusive master franchisor of Domino's Pizza in Chinese mainland, Hong Kong SAR and Macau SAR of China. Domino's China's revenue in 2019, 2020 and 2021 was 837 million yuan, 1.1 billion yuan and 1.611 billion yuan, respectively; The losses attributable to the owners of the company during the year were 182 million yuan, 274 million yuan and 471 million yuan, respectively.

8 The online virtual event service platform "Suixian Technology" received a series A investment from Alibaba

The online virtual event service platform "Suixian Technology" has recently completed a series A financing of 100 million yuan, and Alibaba (China) Network Technology Co., Ltd. has been added as a new shareholder. In August last year, Suixian Technology, which was established less than a year ago, also completed tens of millions of dollars in pre-A round financing, with the participation of Tencent, GGV Capital and other institutions.

# Other #

1 The individual pension system was launched

According to Xinhua News Agency, the Ministry of Human Resources and Social Security announced on the 25th that the individual pension system was launched. In 36 pilot cities or regions, including Beijing, Shanghai, Guangzhou, Xi'an and Chengdu, individual pension accounts can be established through national unified online service portals such as the national social insurance public service platform, the national human resources and social security government service platform, the electronic social security card "Pocket 12333 App", or commercial banks and other channels, and individual pension fund accounts can be opened through commercial banks. After the two accounts are opened, you can pay to the capital account and purchase personal pension products, with an annual payment ceiling of 12,000 yuan, and you can enjoy tax incentives by payment.

2 People's Bank of China decided to reduce the reserve requirement ratio of financial institutions by 0.25 percentage points on December 5, 2022

People's Bank of China decided to reduce the RRR of financial institutions by 0.25 percentage points on December 5, 2022 (excluding financial institutions that have implemented a 5% RRR). After this reduction, the weighted average reserve requirement ratio of financial institutions is about 7.8%. The RRR reduction released a total of about 500 billion yuan of long-term funds. This RRR reduction is a comprehensive RRR reduction.

3 Vipshop's adjusted net profit in the third quarter increased by 55% year-on-year

Vipshop released its financial report for the third quarter of 2022 on November 22. Vipshop's revenue in the quarter was 21.6 billion yuan, down 13.3% year-on-year; Adjusted net profit was 1.6 billion yuan, a year-on-year increase of 55%. Vipshop's GMV in the third quarter was 37.6 billion yuan, compared to 40.2 billion yuan in the same period last year. During the reporting period, Vipshop had 41 million active users, compared to 43.9 million in the same period last year. Super VIP active users increased by 21% year-on-year, accounting for 40% of net online GMV.

4 Beijing intends to stipulate that "medical beauty" services shall not be provided to minors without the consent of guardians

According to Beijing Daily, the 45th meeting of the Standing Committee of the 15th Beijing Municipal People's Congress conducted a first review of the Beijing Regulations on the Protection of Minors (Revised Draft). "Without the consent of the minor's guardian, medical beauty services must not be provided to the minor." The revised draft puts forward new requirements for minors to undergo "medical beauty". Violators will be ordered to make corrections by the health department, given a warning, and fined between 10,000 and 50,000 yuan.

5 Zhejiang took the lead in linking the illegal closure of express distribution centers with the assessment of local governments

According to The Paper, on the 23rd, the official website of the Zhejiang Provincial Postal Administration announced that the province's postal express industry infrastructure shutdown and closure processing process was refined to ensure the smooth flow of postal express services. The Zhejiang Bureau took the initiative to dock with the provincial epidemic prevention and control department, and incorporated the relevant work into the overall epidemic prevention and control and economic and social development assessment of Zhejiang Province, and deducted points in the "Overall Epidemic Emergency Response and Economic and Social Development Assessment Index System" for the illegal closure of provincial, municipal and county-level mail and express distribution centers by territorial governments, making it the first province in the country to link the work of illegal closure of distribution centers with the assessment of local governments.

6 Weilong listed

According to HKEX documents, on November 23, Weilong Yummy Global Holdings Limited passed the listing hearing of the Hong Kong Stock Exchange. For the six months ended June 30, 2022, the company's revenue decreased by 1.8% year-on-year to $2,260.5 million, and net profit was -$260.8 million, compared to $357.6 million in the same period last year, according to the post-hearing information set.

7 State Post Bureau: The delivery of atomizers such as cigarette liquid and nicotine for electronic cigarettes is limited to 12ml each

According to Yicai, on November 23, the State Post Bureau issued a notice on the limited delivery of electronic cigarette products, atomizers, and nicotine for electronic cigarettes. It is pointed out that the delivery of electronic cigarette products, atomizers, nicotine for electronic cigarettes, etc. is subject to limited management. The limited quantity of each piece of electronic cigarette products is: 2 smoking sets; There are 6 electronic cigarette cartridges (liquid atomizers) or products (including disposable electronic cigarettes, etc.) sold in combination with cigarette cartridges and smoking utensils, with a total liquid capacity of no more than 12ml. The delivery of atomizers such as cigarette liquid and nicotine for electronic cigarettes is limited to 12ml each.

Each person carries electronic cigarette products, atomizers, nicotine for electronic cigarettes, etc. in different places each time to implement limited management, the specific notice is as follows: no more than 6 smoking sets; There shall not be more than 90 electronic cigarette cartridges (liquid atomizers), no more than 90 products sold in combination with cigarette cartridges and smoking utensils (including disposable electronic cigarettes, etc.), and no more than 180ml of atomizers such as cigarette liquid and nicotine for electronic cigarettes.

8 The State Administration for Market Regulation solicited public comments on the Anti-Unfair Competition Law of the People's Republic of China (Draft Revisions for Solicitation of Comments).

The State Administration for Market Regulation has publicly solicited comments on the Anti-Unfair Competition Law of the People's Republic of China (Draft Revisions for Solicitation of Comments), and business operators must not use data and algorithms, technology, capital advantages, and platform rules to engage in acts of unfair competition. At the same time, considering the complexity of determining acts of unfair competition in the field of digital economy, it stipulates the factors to be considered in determining whether acts of unfair competition are constituted, so as to enhance the predictability of the system and the standardization of law enforcement. In addition, it also stipulates the responsibility of platform operators to strengthen competition compliance management and promote social co-governance against unfair competition.

9 Ministry of Culture and Tourism and other departments: expand and strengthen the upstream and downstream industrial chain of camping, tourism and leisure

According to the Securities Times, the Ministry of Culture and Tourism and other departments issued the notice of "Guiding Opinions on Promoting the Healthy and Orderly Development of Camping Tourism and Leisure", which proposed to promote the development of the entire industrial chain. Expand and strengthen the upstream and downstream industrial chain of camping, tourism and leisure, and improve the overall efficiency of the entire industrial chain. Guide the large-scale and chain operation of camping camps, incubate high-quality camp brands, and cultivate leading enterprises. Encourage and support domestic camping industry related equipment manufacturers such as recreational vehicles, tents, clothing, outdoor sports, and living equipment to enrich the product system and optimize the product structure. Innovate and develop personalized and high-quality camping equipment to create an international first-class equipment brand.