Cross-border Weekly丨Temu has become the second engine of Pinduoduo Group, Cainiao's "Global 5-Day Delivery" has added 5 countries to serve, and South Korea's cross-border e-commerce imports from China will increase by 70% year-on-year in 2023

21st Century Business Herald reporter Dong Jingyi reported from Shanghai

What are the developments in the cross-border e-commerce industry in the past week (3.18-3.24)?

Industries at a glance

South Korea's imports of cross-border e-commerce goods from China will increase by 70% year-on-year in 2023

According to Yonhap News Agency, a set of statistics released by the South Korean Customs Service (Customs) on the 17th showed that the scale of cross-border e-commerce goods imported from China in 2023 soared by 70.3% year-on-year to 88.815 million pieces. According to the analysis, part of the reason is that Chinese cross-border e-commerce platforms such as AliExpress and Temu are rapidly developing the Korean market by virtue of their price advantages.

In the first two months of this year, Guangdong's cross-border e-commerce import and export volume more than doubled year-on-year

From January to February this year, the import and export volume of cross-border e-commerce in Guangdong Province reached 155.3 billion yuan, a year-on-year increase of 107%. According to the Guangzhou cross-border e-commerce public service platform, in the first two months of this year, the import and export volume of Guangzhou cross-border e-commerce was 22.287 billion yuan, a year-on-year increase of 44.47%, and the fastest growth rate among all foreign trade formats.

Shenzhen's exports increased by 53.1% in the first two months of 2024

According to Shenzhen Customs, in the first two months of 2024, Shenzhen's imports and exports reached 675.18 billion yuan, a year-on-year increase of 45%, and the scale hit a record high in the same period in history. The growth rate of import and export ranks first among the top ten foreign trade cities in the country. Among them, exports were 441.44 billion yuan, up by 53.1 percent, and imports were 233.74 billion yuan, up by 31.9 percent.

In the first two months of this year, Yiwu exported more than 900 million yuan of beauty, cosmetics and toiletries

From January to February this year, Yiwu exported more than 900 million yuan of beauty cosmetics and toiletries, a year-on-year increase of 79.8%, accounting for nearly half of the province's exports of similar products. Among them, the export of self-owned brand products increased by 1.8 times.

Blue Book: Emerging country markets will become a new growth pole for China's cross-border e-commerce

On March 18, at the 4th China Cross-border E-commerce Fair in Fuzhou, Fujian Province, the "Blue Book on the Development of Chinese Cross-border E-commerce Enterprises Going Overseas (2024)" was officially released. The Blue Book pointed out that compared with the developed markets of Europe and the United States, emerging countries such as Southeast Asia, the Middle East, and Latin America will become new growth poles for China's cross-border e-commerce. According to the Blue Book, China's cross-border e-commerce industry has shown strong vitality and resilience in the past year, and the gradual rise of cross-border e-commerce platforms has had an impact on the global cross-border e-commerce industry pattern. According to the data disclosed by the General Administration of Customs, the import and export of cross-border e-commerce in mainland China will be 2.38 trillion yuan in 2023, a year-on-year increase of 15.6%.

CITIC Securities: In the future, the track with great potential to go overseas may be concentrated in the automobile, power equipment and other industries

The CITIC Securities Research Report believes that mainland enterprises are facing better domestic incentive policies, stronger industrial support and a more urgent development situation when going overseas. A complete supply chain system and the largest team of scientific and technological and professional talents are unique advantages that cannot be replicated by China's supply side. Relying on the three major overseas models of production capacity, brand and business, mainland enterprises are expected to seize the opportunities brought by the structural changes of the demand side in various regions or new industrial trends. In the future, the track with great potential to go overseas may be concentrated in the automobile, power equipment, medicine, consumer electronics, machinery and other industries.

Company dynamics

Temu has become the second engine of the Pinduoduo Group

On March 20, Pinduoduo Group released its fourth quarter and annual results report for 2023 ended December 31. In the quarter, Pinduoduo Group's revenue was 88.9 billion yuan, a year-on-year increase of 123%. net profit was 23.3 billion yuan, a year-on-year increase of 146%. For the full year of 2023, Pinduoduo's revenue will be 247.6 billion yuan, a year-on-year increase of 90%, and its net profit will be 60 billion yuan, a year-on-year increase of 90%.

The high growth of revenue and net profit is related to the revenue of online marketing services and transaction services. In 2023, Pinduoduo's transaction service revenue will reach 94.1 billion yuan, a year-on-year increase of 241%. Online marketing services and other revenues were 153.5 billion yuan, up 49% year-on-year. Among them, the transaction services mainly include Temu income, Duoduo grocery commission income and some commissions of tens of billions of subsidies.

Temu has once again opened three new sites

Temu has launched three new stations: Georgia, Mauritius and Malta, located in West Asia, Africa and Southern Europe. Among them, the Mauritius station is the second national site launched in the African region after the platform launched in South Africa at the beginning of the year. So far, Temu has opened a total of 53 overseas markets around the world, including Asia, Europe, North America, Latin America, Africa and Oceania.

Cainiao's "Global 5-Day Delivery" has added services to 5 countries in Europe, the United States and the Middle East

Cainiao United AliExpress's "Global 5-Day Delivery" has added 5 new service countries, including Germany, France, Portugal, Saudi Arabia, the United States and Mexico. In September 2023, the "Global 5-Day Delivery" was first implemented in Spain, the Netherlands, the United Kingdom and other countries, and Cainiao data showed that in the third quarter of fiscal 2024, the number of "Global 5-Day Delivery" orders achieved strong triple-digit growth quarter-on-quarter.

FedEx and Amazon are rumored to have started negotiations to cooperate again last year

According to reports, global e-commerce giant Amazon and logistics giant FedEx are in talks to re-establish a partnership, and the main content of the talks between the two sides is that FedEx will once again accept Amazon's returns at its retail outlets, aiming to optimize the return service experience of online shopping consumers.

泡泡玛特2023年营收63亿元，海外营收大涨134.9%

Pop Mart released its 2023 financial report. According to the financial report, Pop Mart achieved annual revenue of 6.3 billion yuan, a year-on-year increase of 36.5%, adjusted net profit of 1.19 billion yuan, a year-on-year increase of 107.6%, and revenue and net profit reached a record high. The revenue of Hong Kong, Macao, Taiwan and overseas business reached 1.066 billion yuan, a year-on-year increase of 134.9%, and the proportion of revenue rose to 16.9%. The total number of registered members exceeds 34 million.

Didi's international business revenue in the fourth quarter of 2023 increased by 33.3% year-on-year

On March 23, Didi released its fourth quarter and annual performance report for 2023 on its official website, with revenue of 49.4 billion yuan in the fourth quarter of 2023, a year-on-year increase of 55.4%. In the fourth quarter, China's mobility business revenue was 44.9 billion yuan, a year-on-year increase of 60.9%, and international business revenue was 2.2 billion yuan, a year-on-year increase of 33.3%. The annual revenue in 2023 will be 192.4 billion yuan, a year-on-year increase of 36.6%. The net profit for the fourth quarter of 2023 was 1.1 billion yuan, and the net profit for the whole year of 2023 was 500 million yuan, achieving a positive annual net profit.

Ali International Station Releases "Top Ten New Foreign Trade Products"

Ali International Station released the "Top Ten New Foreign Trade Products" on the 20th, and new products such as AI pet dogs, pet chicken protective helmets, nail printers, intelligent boxing trainers, and 3D holographic image fans entered the ranks of this year's "Top Ten". It is reported that the "Top Ten New Foreign Trade Products" are based on the comprehensive evaluation of the new product sales data of the New Trade Festival in March of Ali International Station and the popularity of the overseas market.

SHEIN has won the popularity championship of American fashion brands for three consecutive years

Recently, LEK Consulting, a market consulting agency, released the "2024 LEK Footwear and Apparel Brand Popularity Index", and the well-known fashion brand SHEIN once again won the first place in the popularity of casual women's clothing brands in the United States, ranking first for three consecutive years.

AliExpress and Vogue launched a global live broadcast competition

AliExpress continues to increase its investment in clothing going overseas, opening a global celebrity live broadcast competition, the first stop in the UK, and cooperating with fashion media "Vogue Business" to provide an innovative cross-border live streaming model for clothing merchants. This is another action of AliExpress for the clothing category after the new women's clothing channel and new subsidies for new styles.

Financing acquisitions

Lianlian Digital plans to list on the Stock Exchange on March 28

On March 20, the global digital payment solution provider Lianlian Digital (02598. HK) officially announced the launch of its global initial public offering (IPO) plan, which will soon be listed on the main board of the Hong Kong Stock Exchange. According to the announcement, the company intends to offer 55.92 million shares globally, including 5.592 million shares in Hong Kong and 50.328 million shares in the international offering. The offering date is from 20 March to 25 March, with a maximum offer price of HK$10.95 in board lots of 500 shares, and it is expected that H shares will commence trading on the Stock Exchange at 9 a.m. on 28 March 2024.

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