INDUSTRY BRIEF: Temu and Shein slash U.S. ad spending, warn of price hikes
Chinese-linked e-commerce operators Shein and Temu are slashing their U.S. advertising spending and warning customers of imminent price hikes as the U.S. gets set to start collecting import tariffs on…
BRIEF: Meituan launches $13.7 billion subsidy to support merchants, consumers
Meituan (3690.HK) has pledged to invest 100 billion yuan ($13.7 billion) in the restaurant industry over the next three years, focusing on consumer subsidies, merchant support, incentives for high-quality restaurant…
BRIEF: Shein London IPO approved by British financial regulator
Britian’s financial regulator has approved a London Stock Exchange listing by Shein, bringing the online fast fashion retailer one step closer to its long-awaited goal of becoming a publicly listed…
BRIEF: J&T Express’ first-quarter parcel volume rises 31.2%
Logistics company J&T Express Global Ltd. (1519.HK) announced on Thursday its parcel volume reached 6.6 billion in the first quarter, up 31.2% year-on-year. The company handled an average of 73.3…
BRIEF: Synagistics to acquire Chinese AI firm for $30 million
Southeast Asian e-commerce company Synagistics Ltd. (2562.HK) announced on Monday it has entered into a subscription option deed to acquire Chinese AI firm Movitech Co. for $30 million. Under the…
NEWS WRAP: Lianlian DigiTech’s revenue surges on payment network expansion
The digital payment service provider’s revenue rose 28% last year as its global payment network and customer base continue to expand By Teri Yu Lianlian DigiTech Co. Ltd. (2598.HK)…
NEWS WRAP: JD Logistics profit nearly triples on technology upgrades
The logistics arm of e-commerce giant JD.com reported its 2024 revenue grew nearly 10%, as external customers contributed 70% of the total By Teri Yu JD Logistics Inc. (2618.HK) reported…
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