PDD HOLDINGS INC - CybAI news

15 Aug

Alibaba’s Revenue Misses Estimates in a Blow to Revival Effort

stp2y0 CommentsRAG modelsALIBABA GROUP HOLDING-SP ADR, artificial intelligence, china, China Renminbi Spot, Consumer Spending, Daniel Yong, E-commerce, environment, PDD HOLDINGS INC, shopping, Technology

Alibaba Group Holding Ltd. posted a disappointing 4% rise in revenue, after aggressive promotions and new shopping features failed to drive spending in a patchy Chinese consumer environment.The domestic e-commerce leader reportedBloomberg Terminal revenue of 243.2 billion yuan ($34 billion) in the June quarter, versus the average projection for about 249.9 billion yuan. Net income fell about 27% to 24.3 billion yuan, reflecting the heavy cost of attracting and retaining shoppers. Source link lol

13 Aug

Shein Hires Former EU Official to Bolster Lobbying as IPO Nears

stp2y0 CommentsRAG modelschina, Christian Democratic Union of Germany, environment, europe, germany, IPOs, london, Markets, PDD HOLDINGS INC, policy, regulation, Technology

Shein has enlisted a former top European Union official to bolster its lobbying efforts across the region, taking a more active stance toward potential regulatory scrutiny as it plans a stock market debut in London.The online fashion retailer hired former EU budget commissioner Günther Oettinger as a consultant to help it navigate the bloc’s policy environment, a company representative said. Shein faces a raft of issues including a debate whether to impose customs duties on cheap parcels — a potential game-changer for Shein and other low-cost online retailers like PDD Holdings Inc.’s Temu. Source link lol

13 Aug

Singapore’s Sea Tops Profit Estimates on Online Shopping Growth

stp2y0 CommentsRAG modelsALIBABA GROUP HOLDING-SP ADR, artificial intelligence, BYTEDANCE LTD, E-commerce, Earnings, PDD HOLDINGS INC, SEA LTD-ADR, Singapore, Southeast Asia, Stock Futures, Technology

Sea Ltd. raised the outlook for its main online retailing arm, signaling the Southeast Asia e-commerce leader is effectively encountering intense competition from the likes of TikTok and Lazada.The value of goods sold by the Shopee division will rise in the “mid-20%” range this year, Sea said TuesdayBloomberg Terminal, rather than the “high teens” pace predicted in March. Singapore-based Sea also posted second-quarter profit and sales that topped analysts’ estimates. Source link lol

12 Aug

Sea Raises Sellers’ Fees to Above TikTok, Temu to Fatten Margins

stp2y0 CommentsRAG modelsBYTEDANCE LTD, E-commerce, Indonesia, JPMORGAN CHASE & CO, JULY SARL/CAEN, PDD HOLDINGS INC, Philippines, SEA LTD-ADR, Southeast Asia, Technology, Thailand

Sea Ltd.’s Shopee has raised the commissions it charges merchants in many core markets by about a third since the start of the year, underscoring the Southeast Asia e-commerce leader’s renewed attempt of boosting its bottom line.The moves, which haven’t previously been reported, reflect Sea’s growing confidence it can retain merchants in key markets, despite competition from TikTok, Temu and Lazada. Its commission now exceeds its rivals’, with its fee in Thailand rising to as much as 13% in July from 10% previously, according to its website. TikTok charges as much as 8% and Lazada up to 10%, according to…

07 Aug

Coupang Posts First Loss Since 2022 as Farfetch Deal Saps Profit

stp2y0 CommentsRAG modelsALIBABA GROUP HOLDING-SP ADR, Bom Suk Kim, COUPANG INC, E-commerce, Earnings, Government, PDD HOLDINGS INC, regulation, South Korea, taiwan, Technology

Coupang Inc. posted its first loss in two years, after the acquisition of unprofitable Farfetch Holdings Plc and a government regulatory fine offset strong growth in its core e-commerce business.South Korea’s largest online retailer posted a net loss of $77 million for the June quarter, versus an average estimate for a loss of $11.7 million. Excluding Farfetch and a fine from the Korean authorities, Coupang’s second-quarter net income came to about $124 million, it said in a statementBloomberg Terminal. Source link lol