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PR Newswire

Yeahka Approved an Amount of US$100 Million Share Repurchase Plan

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Demonstrating Long-term Confidence of Yeahka’s Business Prospects

HONG KONG, Aug. 27, 2023 /PRNewswire/ — The Board of Yeahka Limited (“Yeahka” or the “Company,” Stock Code: 9923.HK) is pleased to approve an additional amount of US$100 million for on-market share repurchase and RSU share purchase (the “Share Repurchase Plan“), illustrating strong confidence of the company’s business long-term prospects.

As disclosed in the Company’s results announcement dated August 24, 2023, the Company has achieved solid growth as its businesses benefited from the recovery in domestic consumption. In particular:

  • Total gross payment volume (GPV) of one-stop payment services reached RMB1,419.2 billion, increased 33.5% year-on-year;
  • Total gross merchandise value (GMV) of in-store e-commerce services exceeded RMB2.4 billion, increased 78.9% year-on-year;
  • Total revenue reached RMB2,062.2 million, increased 25.6% year-on-year. Revenue from one-stop payment services increased by 44.3% to RMB1,835.3 million；
  • Adjusted EBITDA reached RMB290.9 million, increased 317.4% year-on-year.

With a solid growth of all business lines, the Company maintains a strong cash flow and finance the Share Repurchase Plan, demonstrating the confidence in the company’s long-term value and commitment to creating value for shareholders.

About YEAHKA LIMITED (Stock Code: 9923.HK)
Yeahka is a leading payment-based technology platform dedicated to creating value for merchants and consumers. Our goal is to build an independent and scalable commercial digitalized ecosystem to enable seamless, convenient, and reliable payment services to merchants and consumers, and to further expand into serving merchants and consumers with our diversified product portfolio, which now includes (i) in-store e-commerce services, providing consumers with local lifestyle services of great value, and (ii) merchant solutions, enabling merchants to better manage and drive business growth.

For more information, please visit https://www.yeahka.com/ 

PR Newswire

Unlocking the Latest Trends in Fashion Jewelry: Are You Up to Date?

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YIWU, China, Aug. 25, 2023 /PRNewswire/ — Fashion jewelry, a time-tested Yiwu export, has once again delivered impressive results this summer.

Fashion jewelry
Fashion jewelry

Yiwugo.com, the official website of the Yiwu Commodity Market, is the largest commodity wholesale market in the world. Popular search terms such as “hair clips,” “necklaces,” “earrings,” and “bracelets” have consistently remained within the top 20 rankings for several months, according to Yiwugo’s data. From May 1, 2023 to August 23, 2023, transaction volumes for “bracelets” and “necklaces” have demonstrated remarkable growth compared to the same period in the previous year. The “bracelets” category has experienced an impressive surge of approximately 30.8 times, while “necklaces” have seen a growth of around 23.6 times. Additionally, the “earrings” category has witnessed a substantial increase of approximately 15 folds. Furthermore, orders for “hair clips” have surged by 49.2% in comparison to the same period last year, with the transaction volume nearly quadrupling from the previous year. Through visits to several well-established jewelry merchants boasting over two decades of experience, it becomes apparent that their achievements are a result of the combined efforts of the Yiwugo platform’s promotional strategies and the unwavering dedication of the merchants.

Top Selling for Three Months: Dreamcatcher Ornaments

Yuan Bangyun is no stranger to the phenomenon of soaring orders. With nearly two decades of experience in jewelry design, manufacturing, and sales, Manxiuni Jewelry has positioned itself as a trusted brand. Through the consistent introduction of novel and innovative products on a daily basis, Yuan Bangyun showcases a steadfast dedication to offering customers an ever-evolving array of choices.

During the peak sales season, Yuan Bangyun’s Enterprise store on Yiwugo unveils more than 100 new products every month, accompanied by an even wider selection of items accessible to customers through offline channels.

In May, Manxiuni Jewelry introduced the Dreamcatcher collection of fashion accessories, which garnered favorable feedback from domestic e-commerce customer groups. Notably, a specific pair of earrings has remained consistently in high demand, with daily orders for over 500 sets for the past three months. Yuan Bangyun commented that this is just a taste of a minor hit item.

The quality of exported jewelry hinges on an effective plating process. Yuan Bangyun noted that the current level of plating technology and its associated costs have increased approximately four times compared to previous years. The continuous refinement of craftmanship has fostered high customer loyalty among the company’s overseas clients.

For almost 8 consecutive years, a loyal customer from Russia has been ordering the same classic pair of earrings from Yuan Bangyun. The monthly order value has consistently stayed at around $10,000, with orders coming in regularly and payments being made promptly, even during times of conflict. This enduring partnership can be attributed to the continuous enhancement of the company’s product quality over the years.

Awakening Love for Beauty: Dominance of Dopamine Color Scheme and Barbie Pink

Wan Chengying’s venture, Yangqin Accessory Firm, specializes in hair clips, hairbands, and related products, with nearly 80% of its business concentrated in foreign trade. The company has launched over 300 new products this summer, with themed collections particularly designed for popular trends both in the domestic and international markets. These products have been distributed through innovative fast-moving consumer goods channels, encompassing e-commerce platforms and other emerging distributors. With dopamine-inspired color schemes and Barbie pink as the flagship, it captured and deeply resonated with women’s innate craving for beauty.

In early July this year, the company unveiled a collection of dopamine-colored hair clips, which generated over 200,000 RMB in domestic market orders within a month. Taking inspiration from the success of the movie “Barbie”, Wan Chengying also introduced a line of premium Barbie pink alloy products. The use of premium materials perfectly encapsulates the sophisticated allure of high-saturation pink. Currently, many customers from South Korea, as well as the domestic market, have shown tremendous interest in these products.

To Wan Chengying’s astonishment, this summer has witnessed a notable influx of new buyers who are specifically seeking purchases from Yiwugo. These intermediaries, who now handle daily order placements, have become larger in number. Despite of the buyers’ scales, they are highly active—a trend that was unseen in past years.

Allergy-Free Earrings: A Global Craze

Chen Xiyue, the owner of Jenny Jewelry, has a rather distinct experience. Quite a few overseas customers reached out to her via video calls through Yiwugo to confirm her store details before making online orders. An African customer from Botswana placed an initial order worth several thousand yuan through Yiwugo. This buyer has since placed two more repeat orders, each amounting to tens of thousands of yuan. Currently, they have fostered a strong partnership with a deepened sense of trust.

A diverse array of hypoallergenic earrings, crafted by Jenny Jewelry, caters to a broad age spectrum. Since their debut two years ago, these earrings have achieved impressive success, evolving from online popularity to offline demand. They have garnered significant acclaim and are sought-after by customers from both home and abroad. These earrings have successfully secured shelf space in supermarkets across various countries and regions, including South America and Dubai, where they maintain robust and consistent sales.

PR Newswire

Antelope Enterprise Pre-Announces 1H 2023 Revenue of $42.8 Million, a Projected 168% Year-Over-Year Increase

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AEHL On Track to Surpass Full-Year Revenue Guidance & Achieve Profitability

CHENGDU, China, Aug. 25, 2023 /PRNewswire/ — Antelope Enterprise Holdings Limited (NASDAQ Capital Market: AEHL) (“Antelope Enterprise”, “AEHL” or the “Company”), the operator of KylinCloud, a premier livestreaming e-commerce platform that leverages a network of over 400,000 hosts and influencers across China, today pre-announced its revenue for the first six months of its fiscal year ended June 30, 2023. The Company estimates that it will achieve approximately $42.0 million in revenue for the first half of 2023; this represents growth of 167.5% compared to $15.7 million in revenue that it recorded for the same period of 2022.

Antelope Enterprise’s projected first half revenue represents 65.6% of the Company’s full-year guidance of $64 million issued on May 25, 2023. Given the Company’s expected strong performance in the first half of the year, Antelope Enterprise believes that it will exceed its full year revenue guidance.

In addition, Antelope Enterprise affirms its forecast to achieve profitability for the full fiscal year 2023. The Company’s believes that its strong financial growth highlights the power of its innovative business model that optimizes the use of social media and livestreaming to uniquely engage China’s vast online consumer marketplace.

Antelope Enterprise CEO Will Zhang commented, “Our first half 2023 financial results clearly validates the strength of our business model and the value that we provide to both our consumer brand partners and influencers. The projected 168% revenue growth over the first half of fiscal 2022 serves as a powerful indicator of the effectiveness of our livestreaming ecommerce platform, KylinCloud, in this rapidly growing market.”

CEO Will Zhang continued, “We not only facilitate meaningful connections between consumer brands and influencers, but also enhance profitability for our partners and provide immense value to our consumers. Given our expected impressive performance in the first half of the year, we are confident that we will not only meet but exceed our annual revenue guidance while achieving profitability for the full year 2023.”

About Antelope Enterprise Holdings Limited

Antelope Enterprise Holdings Limited holds a 51% ownership position in Hainan Kylin Cloud Services Technology Co., Ltd (“KylinCloud”), which operates a livestreaming ecommerce platform in China with access 400,000+ hosts and influencers.

For more information, please visit our website at http://www.aehl-kylin.com/, or follow the Company on Twitter at https://twitter.com/aehl_ltd. To receive the Company’s public announcements, please email investor@aehltd.com.

Safe Harbor Statement

Certain of the statements made in this press release are “forward-looking statements” within the meaning and protections of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements with respect to our beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause the actual results, performance, capital, ownership or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements in this press release include, without limitation, the continued stable macroeconomic environment in the PRC, the PRC technology sectors continuing to exhibit sound long-term fundamentals, and our ability to continue to grow our business management, information system consulting, and livestreaming ecommerce business. All statements other than statements of historical fact are statements that could be forward-looking statements. You can identify these forward-looking statements through our use of words such as “may,” “will,” “anticipate,” “assume,” “should,” “indicate,” “would,” “believe,” “contemplate,” “expect,” “estimate,” “continue,” “plan,” “point to,” “project,” “could,” “intend,” “target” and other similar words and expressions of the future.

All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, those risks and uncertainties described in our annual report on Form 20-F for the year ended December 31, 2022 and otherwise in our SEC reports and filings. Such reports are available upon request from the Company, or from the Securities and Exchange Commission, including through the SEC’s Internet website at http://www.sec.gov. We have no obligation and do not undertake to update, revise or correct any of the forward-looking statements after the date hereof, or after the respective dates on which any such statements otherwise are made.

Source: Antelope Enterprise Holdings Ltd.

PR Newswire

Dowsure Signs multi-million-dollar Asset-Backed Loan with HSBC

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SHENZHEN, China, Aug. 25, 2023 /PRNewswire/ — Dowsure as a pioneer of digital API platforms for cross-border e-commerce, today announced that it has received a multi-million-dollar Asset-Backed Loan from HSBC. The transaction follows the strategic investment made by HSBC Ventures in July 2023.

HSBC acted as the sole Arranger, Original Lender, Facility Agent, Security Agent & Account Bank for Dowsure’s debut revolving asset-backed loan facility (“ABL”). The facility was provided to Hong Kong Credit Services Limited (“HKCSL”), a wholly owned subsidiary of Dowsure in Hong Kong. This is the inaugural ABL facility in the cross-border e-commerce sector under HSBC’s New Economy Fund and will support Dowsure’s offshore business growth aspirations.

HSBC customised an asset-backed structure for Dowsure, backed by loan receivables originated by HKCSL to cross-border sellers on the designated e-commerce platform. The facility is fully committed at closing, but also allows for flexible drawdowns to align with the company’s portfolio growth strategy, as well as maximising the cash utilisation efficiency.

Byron Pei, Founder and CEO of Dowsure Technologies, said, “The innovatively structured ABL from HSBC will enable Dowsure to provide support for more SMEs engaged in cross-border e-commerce exports. This will be beneficial to participants in the cross-border e-commerce industry, regardless of sellers, service providers, or cross-border e-commerce platforms, who will benefit from the development capital provided under this program. Through the abundant funds provided by large international banks, combined with Dowsure’s insights and innovation capabilities, it will help the industry to achieve faster and better development. This collaboration further enhances and reinforces the partnership between HSBC and Dowsure. Meanwhile, it means a new breakthrough in Dowsure’s financing model, and we appreciate HSBC’s support sincerely.”

Thomas Elliott, Managing Director, Head of Client Coverage, Commercial Banking, Hong Kong, HSBC, said, “HSBC has helped Dowsure raise debt financing through a bespoke, structured solution, focusing on high-quality financial assets originated by HKCSL, to provide flexibility and enable the high-speed development of Dowsure’s business offshore. Alongside a strategic investment recently concluded by HSBC Ventures, the ABL facility provides Dowsure with additional capital to grow its loan portfolio and further its support for e-commerce merchants across Greater China.”

Dowsure, as the leading global API platform for cross-border e-commerce, has cooperated with banks to launch digital financial products through advanced models and algorithms to provide cross-border e-commerce sellers with faster, more convenient, and safer funding solutions. Over the years of delving into the cross-border industry, Dowsure has accumulated multi-dimensional capabilities in cross-border scenarios, system fulfillment, and risk control technology. Dowsure has invested millions of funds in supply chain finance platform research and development. Currently, it has reached cooperation with Amazon, eBay, Meta, Shopee and other platforms.

Dowsure has realized the whole path tracking of sellers’ capital chain with its exclusive technology, effectively reduced the default rate, and has helped many banks and financial institutions to expand new business scenarios. Dowsure has provided new lending business scenarios for more than ten banks and other financial institutions, successfully served more than 20,000 cross-border sellers, helped sellers finance more than RMB 3 billion, and boosted sellers’ sales to more than 45 billion.

About Dowsure Technologies

Dowsure Technologies, as a leading global digital API platform for cross-border e-commerce, was established in 2016. Through API technology and advanced models and algorithms, it collaborates with banks to launch digital financial products, providing faster, more convenient, and secure funding solutions for cross-border e-commerce sellers. With years of experience in the cross-border industry, Dowsure has accumulated multidimensional capabilities in understanding cross-border scenarios, system implementation, and product innovation. Dowsure has established partnerships with platforms such as Amazon, eBay, Meta, and Shopee and has helped banks and financial institutions expand into new business scenarios. Currently, Dowsure has provided new loan business scenarios for over ten banks and financial institutions, serving over 20,000 cross-border e-commerce sellers, helping sellers receive financing exceeding 3.5 billion RMB, and achieving sales exceeding 45 billion RMB.

Source: Dowsure Technology Ltd.

PR Newswire

Indonesia’s E-commerce Solution Platform, Plugo, Announces Expansion to Thailand Reflecting on Its 2023 Milestones

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JAKARTA, Indonesia, Aug. 23, 2023 /PRNewswire/ — In a rapidly evolving digital era, Plugo, an e-commerce trailblazer from Indonesia, has carved a significant niche within the direct-to-consumer (D2C) market space.

Kyungmin Bang, CEO of Plugo, expressed gratitude to attendees at Plugo Brand Appreciation Day 2023 and announced the platform's strategic expansion to Thailand.
Kyungmin Bang, CEO of Plugo, expressed gratitude to attendees at Plugo Brand Appreciation Day 2023 and announced the platform’s strategic expansion to Thailand.

During the Plugo Brand Appreciation Day 2023 held on August 22 at The Langham Jakarta, attended by industry leaders, brand representatives, and various stakeholders, Plugo announced its ambitious move into the Southeast Asian market.

Plugo’s remarkable achievements in 2023 speak to its rising prominence in the e-commerce sector:

  • Plugo’s highest GMV in a month reached 99.6 billion rupiah.
  • The total number of visitors to brands’ websites was a staggering 26 million.
  • The most products sold in a single day stood at 47,000.
  • The avg. conversion rate from a buyer’s visit to a purchase was an impressive 9%.

At the event, Izki Aldrin Iswarna, Plugo’s Country Director, shared, “Our 2023 milestones underscore Plugo’s commitment to serving brands and facilitating their growth. Our adaptability and innovative approach are key pillars in navigating this fast-paced digital market.”

But it’s not just about numbers and milestones. Understanding and addressing the needs of both brands and consumers lies at the heart of Plugo’s strategy. Plugo’s success was underpinned by the interplay between marketplaces and D2C platforms.

Thailand, with its vibrant e-commerce landscape, is the next destination on Plugo’s expansion map. Aiming for an official launch by the end of 2023, the move is set further to consolidate Plugo’s leadership in the D2C e-commerce sector.

Reflecting on this venture, Plugo’s CEO, Kyungmin Bang, commented, “Our expansion into Thailand isn’t just a business decision; it’s a commitment. We see Thailand as a land of immense growth opportunities and are eager to bring our D2C expertise to its dynamic brands.”

About Plugo

Founded in 2022 in Singapore, Plugo is an all-in-one e-commerce platform targeting direct-to-consumer (D2C) brands. The platform offers services ranging from customizable e-commerce websites to integrated payment systems, omnichannel, and advanced marketing tools.

The company secured $9 million in its Series A funding round in late 2022, with investments from firms like Altos Ventures and Access Ventures.

Plugo is entirely cloud-based and hosted, allowing users to access and manage their businesses from anywhere at any time while on the go.

In addition to its Singapore headquarters, the company has expanded its presence with offices in Jakarta and Seoul, with the latter housing a team of seasoned tech specialists.

PR Newswire

StoreConnect Raises $9M in Seed Round with Lead Investor Bellini Capital: “Time to Revolutionize E-Commerce for SMBs”

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While the global e-commerce industry is on track to generate $6.3 trillion in 2023 (1), SMBs are struggling to compete. StoreConnect will empower over one million global small businesses by liberating them from the challenges of complex SaaS solutions and overwhelming plugin options, targeting a total addressable market (TAM) of over $10 billion. The newfound freedom will enable SMBs to establish unprecedented connections with their customers.

SYDNEY, Aug. 21, 2023 /PRNewswire/ — The e-commerce industry has long been divided into two camps: intricate setups demanding external assistance and substantial financial investments, or deceptively simplistic “plug-and-play” options, like a well-known platform that lure businesses with their initial ease but ultimately morph into unreliable “plug-and-pray” solutions. Mikel Lindsaar, the visionary CEO behind StoreConnect, a trailblazing force in the e-commerce industry, has successfully secured $9 million in a seed round led by Bellini Capital. This investment is poised to fuel StoreConnect’s mission of addressing the prevailing challenges in the e-commerce landscape, for which Lindsaar calls out several currently impeding the growth and prosperity of small and medium-sized businesses (SMBs):

  • SMBs struggle to sustain growth and longevity, with a shocking 34% of online stores vanishing within a year, with average lifespans dwindling to a mere 143 days. (2)
  • The overwhelming number of apps [plugins] available in the marketplace forces SMBs into an arduous evaluation process to find the right fit (Tidio.com). Time-consuming selection becomes an added burden, not to mention slowing page loads.
  • To further compound the problem, adding just six customer-facing apps can inflate load times significantly. (3) This drastic slowdown sabotages user experience and sales conversions. Pages taking over six seconds to load lose half of their visitors, crippling traffic and revenue generation, according to SEO expert Neil Patel. (4) Swift page speed is paramount for customer engagement and business success.
  • Having to “balance” functionality and performance, SMBs are advised to limit apps to a manageable number (aka 25!!) for a comprehensive online store (kubixmedia.co.uk). And finding the right apps out of the thousands of numerous plugins available is a time sink that no business owner can afford.

“These alarming statistics highlight the uphill battle SMBs face within the current ecosystem,” explains Lindsaar, who has previously successfully built and sold four SaaS companies. “I wanted to develop a solution that enables growth and equips ‘Davids’ to compete with ‘Goliaths,'” added Mikel.

A New Category: Customer CommerceTM

The importance of this funding round extends beyond StoreConnect’s dedication to simplifying e-commerce fractured complexities through its fast and comprehensive all-in-one solution. It also lies in StoreConnect’s ability to eliminate major barriers, allowing SMBs to connect with millions more customers, thereby leveling the playing field in the eCommerce arena.

Customer Commerce is a revolutionary, user-driven approach that empowers small and medium-sized businesses (SMBs) to forge connections with a brand-new range of customers that were previously out of reach.

This revolutionizes their interactions and accelerates transactions opening up new avenues of growth, profitability, and scalability, all at an affordable price tag. By embracing this, SMBs have seen unprecedented opportunities for expansion and success across all avenues of online revenue.

Built on the world-leading CRM platform, the company’s innovative approach has already garnered the support of over 60 Salesforce Solution Integration partners in just 24 months—and is on an impressive run rate of $50 million by 2028.

Lead investor, Arnie Bellini, brings a wealth of expertise to the table. As the co-founder and former CEO of ConnectWise, Bellini is renowned for launching the industry’s most widely used IT-managed services platform. Presently serving as the managing partner of Bellini Capital, an investment firm based in the Tampa area, Bellini declares that existing e-commerce solutions belong to the bygone era of 2005. Undeterred by the limitations of the past, he firmly places his faith in StoreConnect’s transformative capabilities to reshape the e-commerce landscape specifically tailored for SMBs. “StoreConnect aims to revolutionize how small businesses engage in online commerce, paving the way for a brighter and more prosperous future.”

The raised funds will be utilized to expand StoreConnect’s global reach by hiring a dynamic sales team, advancing technology to enhance customer experience, and expanding its partner network, which includes Salesforce solution integration partners.

StoreConnect is poised to solidify its position as the dominant player in the small business e-commerce ecosystem.

About StoreConnect:
Mikel Lindsaar is the CEO and Founder of StoreConnect, a Salesforce Partner Innovation Award Recipient.  Mikel is a serial technology entrepreneur having successfully built and sold four SaaS companies within the last decade. StoreConnect has one goal: to help small and medium-sized businesses become scalable Customer Companies powered by Salesforce. Clients achieve this daily by breaking free of the shackles of what Mikel calls “Plugin Purgatory and SaaS Hell.” StoreConnect clients don’t need multiple SaaS systems connected by plugins to manage their online, in-store POS and in-person Customer Commerce business systems. Many of today’s eCommerce solutions are designed to get up and running quickly and inevitably hit a brick wall of scalability and extensibility as companies grow.  That’s why StoreConnect is built on the world’s CRM, so its customers will never need to replatform no matter how fast they grow in size, product offerings or regions. Global growth now has no barriers for any SMB. Being built on Salesforce allows StoreConnect customers to update their websites, funnels and content in real time, providing an unparalleled competitive advantage. StoreConnect is Time. Well Spent. Visit https://getStoreConnect.com/

Sources:

  1. Dunham, Emma, et al. “Ecommerce Statistics to Get You Ahead in 2023.” Dash, 27 Mar. 2023, dash.app/blog/ecommerce-statistics#:~:text=In%202023%2C%20the%20ecommerce%20industry,
    to%20China%20and%20the%20USA.&text=The%20ecommerce%20market%20is%20set,the%20end%20of%20this%20year.
  2. Hannay, Chris, et al. “Shopify Has a Growing Problem with Customer Retention, Globe Data Study Shows.” The Globe and Mail, 22 Oct. 2022, theglobeandmail.com/business/article-shopify-customer-retention-problem/.
  3. Developer, Author: Burak Shopify, et al. “Shopify Performance Case Study – How Apps Affect Speed ” Speed Boostr.” Speed Boostr, 13 Mar. 2020, speedboostr.com/how-apps-affect-load-speed/
  4. Patel, Neil. “How Loading Time Affects Your Bottom Line.” Neil Patel, 31 May 2021, neilpatel.com/blog/loading-time/.

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PR Newswire

HungryPanda Announces The First Ever International Delivery Rider Appreciation Day to Honor Delivery Heroes

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HungryPanda’s International Delivery Rider Appreciation Day to Celebrate and Honor Food Delivery Heroes

NEW YORK, Aug. 18, 2023 /PRNewswire/ — HungryPanda, the world’s leading overseas Asian food delivery platform is delighted to unveil a special addition to Chase’s Calendar of Events 2024: International Delivery Rider Appreciation Day. Marked annually on August 18th, this momentous occasion pays tribute to the hardworking and dedicated food delivery riders who tirelessly connect us with delicious meals and make our lives easier.


International Delivery Rider Appreciation Day holds great significance for both HungryPanda and its community of delivery riders. The chosen date, August 18, has been thoughtfully selected to symbolize the exceptional efforts of riders. The number combination “818” resembles the silhouette of a rider’s bicycle with bags on top, visually capturing the essence of their integral role in the food delivery process. Moreover, the phonetic similarity between the sound of “8” and “eat” fosters a delightful connection with the very essence of food, further strengthening the bond between riders and the joy of dining experiences.

HungryPanda has conceived International Delivery Rider Appreciation Day with a heartfelt mission: to recognize, respect, and reward the relentless dedication of food delivery riders. These remarkable individuals go above and beyond, braving various challenges to ensure prompt and efficient deliveries. On this special day, HungryPanda will shine a well-deserved spotlight on their extraordinary contributions. The event will feature a diverse range of initiatives aimed at honoring the dedication of delivery riders including distributing ‘Panda Care Boxes,’ setting up rider stations with fresh food and water, and introducing a new voice system in the HungryPanda app that allows riders to select a virtual companion to accompany them on future delivery journeys.

“We are incredibly proud to introduce International Delivery Rider Appreciation Day and celebrate the invaluable role our food delivery riders play in connecting communities with their favorite meals, ” said Kelu Liu, Founder and CEO of HungryPanda. “Their dedication and hard work deserve our utmost admiration and appreciation. This special day is our way of expressing gratitude and recognizing their relentless efforts in making our lives easier and more enjoyable.”

Earlier this year, HungryPanda underwent a visual rebrand, transitioning from its primary brand colors of blue and white to the highly visible combination of yellow and black. The decision was made after consulting experts and conducting a detailed study on the most prominent safety colors for transportation. The results conclusively identified yellow as the most visible color, particularly at night. By adopting this color scheme, HungryPanda aims to enhance the safety and visibility of its delivery riders, providing them with an added layer of protection while navigating the streets.

Join HungryPanda in commemorating International Delivery Rider Appreciation Day and let us collectively express deep appreciation for these remarkable individuals who enhance our lives one delivery at a time. Together, we can celebrate their dedication, recognize their invaluable contributions, and foster a culture of gratitude and support within the food delivery community.

About HungryPanda

Founded in 2017, HungryPanda is currently the largest overseas Asian food delivery platform and the only food delivery platform to rank in Deloitte’s 2021 UK Technology Fast 50. Starting in Nottingham, U.K., HungryPanda has expanded to more than 80 cities in 10 countries: the U.K., France, Italy, the U.S., Canada, Australia, New Zealand, Japan, South Korea and Singapore. Currently, HungryPanda works with over 80,000 riders, 100,000 merchants and serves over 6 million users worldwide. This year, HungryPanda sets sights on $1 billion in gross transaction volume. For more information visit www.hungrypanda.co.

PR Newswire

Gucci and JD.com Announce Digital Partnership and Launch of Official Gucci Flagship Store

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BEIJING, Aug. 17, 2023 /PRNewswire/ — Gucci and JD.com are delighted to announce a digital partnership and the highly anticipated launch of the official Gucci digital flagship store on the e-commerce leader’s platform. This marks the first time the Italian luxury brand will bring its unique fashion authority and 102-year-old legacy of Italian craftsmanship to the JD.com community.

Users searching for “Gucci” within the JD.com app will be invited to explore the House’s official flagship store and shop for their favorite items. This will also include a full range experience of Gucci brand services, all within a seamless and secure digital ecosystem. An exceptional customer experience is at the heart of this new collaboration, where customers can browse the store’s extensive range of timeless icons and new-season ready-to-wear, handbags, travel, shoes, jewelry, watches, and accessories for men and women. They will also have special access to Gucci’s online client advisor service before ordering their desired products.

The opening of the new digital flagship store marks a milestone in the partnership between Gucci and JD.com and underscores their commitments to digital innovation. In response to the evolving digital ecosystem, JD.com continuously delivers cutting-edge digital solutions to fulfill diverse needs. This includes the development of diversified models tailored for the luxury industry, leveraging its state-of-the-art supply chain capabilities and open ecosystem. With the launch of its new online environment on JD.com, Gucci will elevate shopping experiences that are tailored to the tastes of JD.com’s customer base and further explore the unique digital landscape of China using both brands’ respective technological strengths to set a new standard in online luxury shopping, expand their market reach, and pioneer original approaches to digital marketing.

In celebration of the upcoming Chinese Valentine’s Day on August 22, Gucci’s official flagship store on JD.com will offer a selection of gifts that showcase the House’s exquisite craftsmanship and romantic aesthetic. Featuring floral motifs symbolizing the blossoming of love and emotions, the collection will also present a purse designed exclusively for JD.com customers to celebrate this special occasion. To enhance the moment, customers will also be able to share their heartfelt sentiments with personalized greeting E-cards to accompany their purchase.

About Gucci

Founded in Florence, Italy, in 1921, Gucci is one of the world’s leading luxury brands. Following the House’s centenary, Gucci forges ahead continuing to redefine luxury while celebrating creativity, Italian craftsmanship, and innovation.
Gucci is part of the global luxury group Kering, which manages renowned Houses in fashion, leather goods, jewelry, and eyewear.
Discover more about Gucci at www.gucci.com

About JD.com

JD.com, also known as Jingdong, is a technology and service enterprise with supply chain at its core. A renowned leader in China’s e-commerce industry, the company has expanded across retail, technology, logistics, healthcare, insurance, property development, industrials, private label, and international business. Serving nearly 600 million customers, JD.com is one of China’s largest overall retailers and the premier online destination for luxury brands.

PR Newswire

Building Connections of Love: Yiwugo Merchants Embrace Chinese Valentine’s Day

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YIWU, China, Aug. 11, 2023 /PRNewswire/ — The Qixi Festival, also known as Chinese Valentine’s Day, is drawing near. The gifts you receive, such as the exquisite bouquet of handheld flowers, elegant plush flower arrangements, and adorable stuffed toys, are very likely to come from Yiwu. Yiwugo.com, the official website of the Yiwu Commodity Market, is the largest commodity wholesale market in the world.

The Artificial flowers of Yiwu.
The Artificial flowers of Yiwu.

Qixi Festival commemorates the bittersweet love of the legendary Cowherd and Weaver Girl. Every year, the “Magpie Bridge”, where the reunion of the two lovers takes place, may come into being through the participation of gift vendors from Yiwugo.

Based on data from the Yiwugo platform, there was a significant surge in search volume for keywords such as “Valentine’s Day gifts,” “artificial flowers,” and “plush toys” between July 9th and August 8th, 2023. The number of orders and total transaction volumes also exhibited noticeable growth. Particularly striking was the surge in orders for “Valentine’s Day gifts”, which alone doubled compared to the same period the previous year, resulting in a transaction volume more than four times that of the corresponding period in 2022. Notably, the consistently favored plush toy industry also witnessed a remarkable upsurge in seasonal sales, with a 57.1% increase in orders and a 41.5% rise in total transaction volume compared to the same period in the previous year.

For more than 15 years, Chen Chu has been running Hai Ruo Craft Products, specializing in Valentine’s Day bouquet gifts. Each year, prior to Chinese Valentine’s Day, the company unveils an extensive array of new products, providing customers with an expanded selection. This year, nearly a hundred new items have already been launched. As the peak season of Chinese Valentine’s Day nears its end, the factory and store continue to be busy with packaging and shipping orders.

Chen Chu mentioned that boutique physical stores in Guangdong, Shandong, Jiangxi, and other regions have emerged as the primary buyers for this year’s purchases. Notably, buyers from Guangzhou have placed the most orders. Orders for large hand-held bouquets, particularly those featuring red roses, typically reach tens of thousands of yuan per order. However, repeat orders are frequent. Even newly introduced products of the season like single-colored roses have performed well. Overall, the results of this year’s Chinese Valentine’s Day are quite favorable.

For this year’s Chinese Valentine’s Day, Chen Chu has unveiled a range of new colors. Following the principle of “quality over quantity”, the packaging team at Hai Ruo Craft Products is incentivized by timely completion, ensuring exceptional craftsmanship for the products. By prioritizing the training of skilled artisans, the flowers are meticulously crafted with plump and well-shaped petals. Special emphasis is also placed on utilizing new materials for gift box production and attending to other intricate details, culminating in the creation of lavish and vibrant bouquets.

Over the past month, the transaction volume for products associated with the keyword “artificial flowers” has nearly doubled compared to the same period last year. He Zhangjuan has been engaged in the business of soap flowers and preserved flowers in the Yiwu market for many years. In the past month, her company sold an average of approximately 6,000 bouquets per day. The sales of newly introduced cartoon-shaped flower bouquets and small plush toy arrangements have also been remarkably impressive. Furthermore, with Teacher’s Day approaching on September 10th, He Zhangjuan has been exceptionally busy lately.

He Zhangjuan shared that not only is the Chinese domestic market currently in a peak season, but there has also been positive feedback from overseas markets such as the United States, Russia, and Mexico recently. Particularly noteworthy, a Mexican customer has been placing frequent repeat orders, with each order averaging around 70,000 yuan. They have expressed high satisfaction with both the products and services provided by the company.

To He Zhangjuan’s delight, there has been a remarkable increase in inquiries from her Yiwugo store recently. On July 15th, a customer from Guangdong initiated communication through Yiwugo and made an initial small-scale purchase of products in 10 different styles. Within less than a month, the customer’s repeat orders have already exceeded 100,000 yuan. An increasing number of these new and valuable customers has significantly bolstered the company’s confidence in its growth and development.

With the upcoming Chinese Valentine’s Day and Teacher’s Day, numerous vendors on Yiwugo are anticipating the busiest period of the year. The e-commerce customer base remains steady, and there is a noticeable resurgence in physical customers. Furthermore, Yiwugo’s continuous technological enhancements and efforts to expand its platform coverage and influence through marketing and promotion are expected to provide even better support in facilitating successful transactions for vendors.

PR Newswire

Boqii Announces ADS Ratio Change

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SHANGHAI, Aug. 11, 2023 /PRNewswire/ — Boqii Holding Limited (“Boqii” or the “Company”) (NYSE: BQ) today announced that it will change its ratio of its American Depositary Shares (“ADSs”) to Class A ordinary shares from one (1) ADS representing four and one-half (4.5) Class A ordinary shares to one ADS representing fifteen (15) Class A ordinary shares (the “ADS Ratio Change”). The ADS Ratio Change is expected to become effective on or about August 21, 2023 (U.S. Eastern Time) (the “ADS Ratio Change Effective Date”).

For Boqii’s ADS holders, the ADS Ratio Change will have the same effect as a 3-for-10 reverse split on the existing ADSs. Each ADS holder on the ADS Ratio Change Effective Date will be required on mandatory basis to surrender to The Bank of New York Mellon, as depositary, (the “Depositary”) for Boqii’s ADS program, every 10 old ADSs held in exchange for 3 new ADSs. No action is required by holders of uncertificated ADSs to effect the ADS Ratio Change as the change will be effected on the books of the Depositary.  

No fractional new ADSs will be issued in connection with the ADS Ratio Change. Instead, the Depositary will attempt to sell any fractional entitlements to new ADSs and the net cash proceeds from the sale of the fractional ADS entitlements (after deduction of fees, taxes and expenses) will be distributed to the applicable ADS holders by the Depositary. Boqii’s ADSs will continue to be traded on the New York Stock Exchange under the ticker symbol “BQ”. As a result of the ADS Ratio Change, the ADS price is expected to increase proportionally, although the Company can give no assurance that the ADS price after the ADS Ratio Change will be equal to or greater than ten-thirds (10/3) times the ADS price before the change.

 About Boqii Holding Limited

Boqii Holding Limited (NYSE: BQ) is a leading pet-focused platform in China. We are the leading online destination for pet products and supplies in China with our broad selection of high-quality products including global leading brands, local emerging brands, and our own private label, Yoken, Mocare and D-cat, offered at competitive prices. Our online sales platforms, including Boqii Mall and our flagship stores on third-party e-commerce platforms, provide customers with convenient access to a wide selection of high-quality pet products and an engaging and personalized shopping experience. Our Boqii Community provides an informative and interactive content platform for users to share their knowledge and love for pets.

Safe Harbor Statement

This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. The Company may also make written or oral forward-looking statements in its reports filed with, or furnished to, the U.S. Securities and Exchange Commission (“SEC”), in its annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Further information regarding such risks, uncertainties or factors is included in the Company’s filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.

For investor and media inquiries, please contact: 

Boqii Holding Limited
Investor Relations
Tel: +86-21-6882-6051
Email: ir@boqii.com

DLK Advisory Limited
Tel: +852-2857-7101
Email: ir@dlkadvisory.com