GOTHENBURG, Sweden, Dec. 12, 2023 /PRNewswire/ — This statement is made by the Independent Bid Committee (the "Committee") of Concordia Maritime AB (publ) (the "Company" or "Concordia Maritime") pursuant to section II.19 of Nasdaq Stockholm’s Takeover rules (the "Takeover rules"). The Committee has unanimously decided to recommend the shareholders of Concordia Maritime to accept the Offer (as defined below).

The Offer
On 12 December 2023, Stena Sessan AB ("Stena Sessan"), announced a public offer to acquire all class B shares in Concordia Maritime not already held by Stena Sessan for SEK 9.80 in cash per share (the "Offer"). The Offer values all shares in Concordia Maritime at approximately SEK 468 million (based on 4,000,000 class A shares and 43,729,798 class B shares in Concordia Maritime). Stena Sessan has announced that the consideration of SEK 9.80 in the Offer will not be increased.

The price in the Offer represents a premium of1:

55.6 per cent compared to the closing price on Nasdaq Stockholm on 11 December 2023 (the last day of trading prior to the announcement of the Offer) of SEK 6.30 for the class B shares; 58.2 per cent compared to the volume-weighted average trading price of SEK 6.19 for the class B shares over the last 30 trading days ended on 11 December 2023 (the last day of trading prior to the announcement of the Offer); and 59.2 per cent compared to the volume-weighted average trading price of SEK 6.16 for the class B shares over the last 90 trading days ended on 11 December 2023 (the last day of trading prior to the announcement of the Offer).

The acceptance period in the Offer is expected to commence on 14 December 2023 and end on 11 January 2024. Stena Sessan has reserved the right to extend the acceptance period in the Offer. Completion of the Offer is conditional upon, among other things, Stena Sessan obtaining necessary clearances, approvals, decisions and other actions from authorities and that the Offer is accepted to such extent that Stena Sessan becomes the owner of shares representing more than 90 per cent of the total number of outstanding shares in Concordia Maritime. Stena Sessan has reserved the right to waive this condition and complete the Offer at a lower level of acceptance.

The Independent Bid Committee and the process for evaluating the Offer
The Committee consists of Ulrika Laurin (chairperson) and Mats Jansson. As the Board member Henrik Hallin is CFO of Stena Adactum, he has not participated in the Board’s evaluation of or decisions relating to the Offer. Furthermore, due to previous assignments for the Stena sphere, chairperson of the Board Stefan Brocker has not participated in the Board’s evaluation of or decisions relating to the Offer.

The Committee has appointed Fearnley Securities AS ("Fearnley") as financial advisor and Setterwalls Advokatbyrå AB as legal advisor in connection with the Offer. The Committee has also engaged Fearnley to provide a so-called fairness opinion regarding the Offer. Fearnley’s statement is attached to this press release.

The Committee’s perception of the Offer is based on an assessment of several factors that the Committee considers to be relevant in relation to the evaluation of the Offer. These factors include, but are not limited to, Concordia Maritime’s current strategic and financial position, prevailing market conditions, operational opportunities and challenges, the Company’s expected future development and opportunities and risks related to this.

In the evaluation of the Offer, the Committee has analysed the Offer using methods that are normally used to evaluate public offers regarding listed companies, including discounted cash flow valuation, adjusted net asset valuation, Concordia Maritime’s valuation in relation to comparable listed companies and comparable transactions, bid premiums in previous public takeover offers on Nasdaq Stockholm, the Company’s share price and the Committee’s view of Concordia Maritime’s ability to deliver value to shareholders in the long term. The Committee also notes that the significant shareholding that Stena Sessan holds in Concordia Maritime, limits the possibilities of potential alternative bidders.

Upon written request from Stena Sessan, the Committee has permitted Stena Sessan to review limited information for confirmatory purposes in connection with preparation of the Offer. No inside information has been exchanged in connection with the review.

The considerations and recommendation of the Independent Bid Committee
Concordia Maritime’s fleet consists of one vessel, the product tanker Stena Polaris, which was built in 2010 and has a deadweight of 62,500 tons. Since early 2022, Stena Polaris has been chartered out on bareboat charter2 to Crowley Government Services Inc., USA (the "Charterer"). In turn, the Charterer has chartered out the vessel on time charter3. The contract with the Charterer includes options which give the Charterer the right to extend the bareboat charter until the end of 2026 or, until at the latest when the vessel reaches 20 years of age in 2030. The Company’s revenues from the bareboat rate are expected to amount to approximately SEK 8.3 million net per quarter until and including August 2026, and thereafter approximately SEK 9.1 million net per quarter until the end of the charter provided that the Charterer exercises its extension options.4 There are no loans associated with Stena Polaris.

As of 30 September 2023, Stena Polaris was valued by three independent shipbrokers and the average of these valuations amounted to USD 29.1 million (SEK 316 million5) on a charter-free basis. Given that the vessel is tied up on a bareboat charter concluded in a weak market, the price of the ship if sold today, which would require a novation of the existing charter to the buyer, is assumed to be lower. Estimates from brokers in October 2023 value the vessel with "charter attached" at between USD 19.5 million to USD 24.5 million. The book value as of 30 September 2023 was SEK 215.4 million. It should be noted that vessel values are significantly influenced by freight market developments.

The Committee has investigated alternative ways forward for the Company. One scenario is that the Company continues to own and operate Stena Polaris as the only vessel in its fleet. The vessel is fixed on a long bareboat charter, which was entered into at a time when the freight market was very weak. The vessel has undergone technical adjustments to suit the Charterer, which increases the possibility that the Charterer will choose to keep the vessel for as long as possible. The probability that the vessel would be returned to the Company before the end of 2030 is considered low, which creates stability regarding earnings assumptions but limits a possible upside. At the time of an assumed redelivery in 2030, the vessel will be 20 years old and, taking into account, among other things, the expected tightening of the shipping industry’s international regulations on ship emissions and technical features, it can be assumed that the vessel’s value at this time will start to approach scrap value.

Another option is that the vessel is redelivered to the Company prior to 2030. The reason could be that the freight market develops to levels significantly below the existing charter level or that the vessel no longer suits the needs of the ultimate Charterer. In a situation with redelivery in a weak freight market, it can be assumed that it will be challenging for the Company to find profitable employment for the vessel. Tighter regulations may also result in the need for significant investments in the vessel, which would have been more economically justifiable if the vessel had been younger.

As previously communicated, the Company has over the past year evaluated a number of projects and business opportunities in order to develop the Company within the maritime sector, including offshore wind, dry cargo and product tanker shipping. Since many segments in shipping are historically highly valued, it has been difficult to find the right realization plan. These business opportunities all have in common that they require significant capital injections from shareholders over time, something that the Company’s Board of Directors has deemed very challenging to achieve.

Taking into account the significant capital injections that would be required to build a new business from scratch and the risk that such a long-term project would entail, the Committee is of the opinion that the Offer, if completed, will enable Concordia Maritime’s shareholders to, in the near future and without risk, realize the value of their share investment in cash at a significant premium to the prices at which Concordia Maritime’s shares have been trading prior to the announcement of the Offer. The Committee notes that Peter Edwall, who via Ponderus Invest AB holds 2,309,006 class B shares in Concordia Maritime, corresponding to approximately 4.84 per cent of the shares and approximately 2.76 per cent of the votes, has declared his support for and intention to accept the Offer.

In the assessment of the Offer, the Committee has considered the fairness opinion issued by Fearnley, according to which the Offer is deemed fair from a financial point of view, to the holders of class B shares in Concordia Maritime, based on the assumptions and considerations included in the statement.

Consequently, the Committee has unanimously decided to recommend the shareholders of Concordia Maritime to accept the Offer.

Effects for Concordia Maritime and its employees
According to the Takeover rules, the Board must report its opinion on the impact that the fulfilment of the Offer may have on Concordia Maritime, particularly in terms of employment, and its opinion on Stena Sessan’s strategic plans for the Company and the effects that these can be expected to have on its employees and on the places where Concordia Maritime conducts its business. Stena Sessan states the following in the press release regarding the Offer:

"Stena Sessan values the expertise of Concordia Maritime’s management and employees and intends to maintain the solid relationships that Concordia Maritime has with its employees. It is Stena Sessan’s current intention to keep Concordia Maritime’s operations intact, without any material changes with regard to Concordia Maritime’s employees and management or to Concordia Maritime’s existing organization and operations, including the terms of employment and locations of the operations, other than such changes which have already been resolved upon by Concordia Maritime. Any specific initiatives to be implemented in the Company will be determined together with Concordia Maritime’s management, in light of a detailed review of the operations in the period following the completion of the Offer. Before then, it is too early to say which initiatives will be implemented and the impact these could have. Furthermore, it is assumed that the Offer will not result in any changes with regard to Stena Sessan’s employees and management, and Stena Sessan does not have any strategic plans which could have an impact on the terms of employment and locations where Stena Sessan’s operations are conducted."

The Committee assumes that Stena Sessan’s description is accurate and has in relevant aspects no reason to believe otherwise.

__________

This statement by the Independent Bid Committee is governed by and shall be interpreted in accordance with Swedish law. Disputes arising from this statement shall be settled exclusively by a Swedish court.

Gothenburg, 12 December 2023

The Independent Bid Committee for Concordia Maritime AB (publ)

This information is information that Concordia Maritime AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Takeover rules. The information was submitted for publication, through the agency of the above contact person, at 8.15 CET on 12 December 2023.

1 Source for Concordia Maritime’s stock price: Nasdaq Stockholm.
2 Bareboat charter means that the shipowner rents out the vessel unmanned for a fixed period at fixed rates. The charterer is responsible for all costs such as technical operation and maintenance, manning, and insurance in addition to voyage costs.
3 Time charter means that the shipowner rents out the vessel, complete and manned, for a fixed period at fixed rates. The charterer is responsible for voyage costs such as bunker oil and port charges.
4 Based on exchange rate SEK/USD: 10.91.
5 Exchange rate SEK/USD: 10.91.

Contact person:
Ulrika Laurin, chairperson of the Independent Bid Committee for Concordia Maritime AB (publ), email [email protected] or telephone +46 765 11 84 45.

The following files are available for download:

https://mb.cision.com/Main/1948/3891890/2486878.pdf

Concordia Maritime 20231212 Press release â€" Statement from the bid committee (PDF)

https://mb.cision.com/Public/1948/3891890/9fcb58e6be557e55.pdf

Fairness opinion

Source : Statement from the Independent Bid Committee of Concordia Maritime regarding the public offer from Stena Sessan

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This content was prepared by our news partner, Cision PR Newswire. The opinions and the content published on this page are the author’s own and do not necessarily reflect the views of Siam News Network

PASIG, Philippines, Dec. 12, 2023 /PRNewswire/ — Union Bank of the Philippines (UnionBank) has teamed up with S&R, the largest membership-only grocery chains in the country, for a co-branded credit card that will make your grocery shopping, dining, and lifestyle spending more rewarding.

Anthony Sy, President of S&R with Manoj Varma, Consumer Banking Head of UnionBank

Elevate your S&R shopping with the new UnionBank S&R credit card designed for wise shoppers. Enjoy these following amazing benefits:

3% UNLIMITED rebates when you shop at any S&R store nationwide 1% UNLIMITED rebates on your dining and shopping spend, and 0.5% UNLIMITED rebates on everything else No annual credit card fees FOREVER. Your S&R Membership Fee will be automatically charged to the card on the month of your membership anniversary A free 18" Whole S&R Cheese Pizza for every P30,000 spend outside of S&R, capped to 4 every year P1,500 S&R voucher as welcome gift upon your first P10,000 spend anywhere using your UnionBank S&R credit card

That’s not all. For a limited time only, S&R will have a special launch offer for shoppers who will apply for the new UnionBank S&R credit card. Those who apply via S&R staff in any S&R branch and complete their application will be rewarded with 1 whole 18" S&R pizza for free. Successful applicants can choose from any of S&R’s classic pizza flavors: Combo, Pepperoni, Cheese, and Garlic & Shrimp Pizza.

Application is fully digital and takes as fast as 5 minutes. Shoppers simply need to be an active S&R member and one valid government-issued ID.

There are two easy ways to apply for the card: in-store and online. For in-store applications, you may visit the designated booth at the S&R branch of your choice, and you will be assisted by a representative. If you want to apply online, you may visit this link: http://www.unionbankph.com/r/srpr 

"We are thrilled to launch the first credit card co-brand partnership with the leading membership shopping establishment in the country, S&R!  This card is for customers who look to gain more value not only out of their membership and spends in S&R, but also on purchases outside S&R.  On top of this, customers get all the best-in-class benefits and features of a UnionBank credit card with no annual membership fees!" said UnionBank’s Consumer Banking Head, Manoj Varma.  

Use the new UnionBank S&R credit card for all your shopping, dining, and lifestyle needs and enjoy great rebates and other exclusive offers.

To learn more, visit https://unionbankph.com/SnR; and to apply visit http://www.unionbankph.com/r/srpr

Source : UnionBank and S&R Launched Co-branded Credit Card

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This content was prepared by our news partner, Cision PR Newswire. The opinions and the content published on this page are the author’s own and do not necessarily reflect the views of Siam News Network

SANYA, China, Dec. 12, 2023 /PRNewswire/ — The 2023 China Tourism Group Development Forum was held in Shanghai from December 11-12. Sanya, a popular destination on the southern tip of China’s Hainan Island, has been selected as a model of tourism entrepreneurship and innovation for China in 2023 by the China Tourism Academy ("CTA") due to its pioneering innovative models in destination tourism development.

The CTA, founded in 2008, has been at the forefront of promoting policy development and international exchange in the tourism industry. It has been instrumental in collecting exemplary cases of tourism entrepreneurship and innovation. Sanya’s inclusion as a model represents a beacon for other destinations seeking to embrace innovative approaches.

To better promote Sanya tourism globally, Sanya established the Sanya Tourism Promotion Board in 2020 — the nation’s sole dedicated agency for destination marketing and promotion. In 2023, the board evolved into the Sanya Tourism Board, leveraging its market-driven, specialized, and internationalized institutional mechanisms. The transformation aimed to explore new opportunities for the innovative development of Sanya tourism through market research, business conventions and awards ceremonies, festivals, media information, route development, tourists expansion and more.

Since its establishment, the Sanya Tourism Board has collaborated with travel-related enterprises within the Sanya economic zone, including accommodations, dining, transportation, attractions, duty-free shopping, and cruise industries. Meanwhile, in a bid to remain competitive among all global tourist destinations, the board has continually enhanced its core competencies by focusing on constructing a professional marketing system. This involves using a tourism data platform for market research, which helps to create targeted marketing strategies for specific customer groups and seize opportunities to grow the inbound tourism market. By closely linking and actively collaborating with enterprises, the Sanya Tourism Board has made significant contribution to the high-quality development of Sanya’s tourism industry.

In 2020, data analysis and market research revealed a notable shift towards a younger customer base. To cater to this demographic, Sanya launched a targeted marketing campaign, "Wonderland Sanya", focusing on the travel interests and consumer preferences of this group. This campaign successfully drew a large number of young tourists to explore Sanya’s diverse attractions. Furthermore, Sanya collaborated with local tourism businesses to host innovative events such as the Sanya Tourism Festival, music festivals, concerts, art exhibitions, cultural and creative weeks, coffee festivals, diving festivals, and family seasons. These events not only showcased the city’s unique features but also stimulated tourist spending.

Albert Yip, the Director General of Sanya Tourism Board

Furthermore, the Sanya Tourism Board has recruited outstanding talents with international perspectives and overseas work experience since its inception. The team, led by Albert Yip, the first globally recruited top executive in the Hainan Free Trade Port, consists of more than half of its members with overseas study or work backgrounds, proficient in languages such as English, Russian, French, German and Korean. With such a high-quality team, Sanya has effectively employed three strategies to boost its inbound tourism: subsidizing international routes, collaborating with top travel agencies, and enhancing global visibility via international media. This approach has successfully elevated Sanya’s global presence, attracting an increasing number of tourists from around the world.

The selection by CTA as an entrepreneurship and innovation in China model in 2023 not only recognizes Sanya’s achievements but also highlights the city’s pivotal role in shaping the future landscape of Chinese tourism. Such recognition comes as a testament to its efforts in market-oriented collaboration, professional marketing and putting together an internationalized team. The Sanya Tourism Board’s dedication has not only elevated Sanya’s profile but also set a benchmark for sustainable and innovative tourism development nationwide.

Source : Sanya Recognized as Exemplar of Tourism Entrepreneurship and Innovation in China for 2023

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This content was prepared by our news partner, Cision PR Newswire. The opinions and the content published on this page are the author’s own and do not necessarily reflect the views of Siam News Network

CHENGDU, China, Dec. 12, 2023 /PRNewswire/ — About us: Aurora Mobile (NASDAQ: JG) established in 2011, is a leading customer engagement and marketing technology service provider in China. Its business includes notification services, marketing growth, development tools, and data products. As its sub-brand, MoonFox Data is a leading expert in data insights and analysis services across all scenarios, aiming to help companies gain market insights and empower precise decision-making.

During the earnings season, the business performance of JD.com has been attracting widespread market attention. In Q3 2023, the company’s retail business revenue reached 212.059 billion yuan, showing a slight increase of 0.06% year-on-year and accounting for 85.6% of the group’s overall businesses. The retail businesses encompass self-operated businesses, platform businesses, and advertising services, with self-operated businesses being the core contributors.

In terms of categories, 3C and home appliances remained the core business of JD.com, generating a total revenue of 119.316 billion yuan, while daily necessities recorded a revenue of 75.988 billion yuan. Overall, the company’s quarterly performance continued to face challenges under the core low-price strategy, but it has experienced market growth and a significant increase in users behind the agonies.

I. JD.com adjusts the core approach to launch a low-price combo

JD.com MAU & MoM growth from January to October 2023

Date

MAU (in 100 million)

MoM change

2023/10

5.210

3.80 %

2023/9

5.020

2.37 %

2023/8

4.904

2.17 %

2023/7

4.799

-7.53 %

2023/6

5.190

4.39 %

2023/5

4.972

3.30 %

2023/4

4.813

-4.29 %

2023/3

5.029

12.84 %

2023/2

4.457

4.98 %

2023/1

4.245

-3.68 %

Data Source: MoonFox iApp; Data Collection Period: January to October 2023. The statistical results only include app data and do not include traffic data from web pages, mini-programs, or quick apps, among others, within the WeChat ecosystem.

According to MoonFox iApp data, JD.com App’s monthly active users (MAU) exceeded 521 million in October 2023, with a MoM growth of 3.8%. The steady growth of MAU has significantly contributed to the company’s three low-price tactics related to business attraction, subsidies, and procurement.

Business attraction involves enabling and supporting third-party merchants to conduct business on this open platform, offering more appealing and competitively priced vertical categories and products. JD.com launched the "Spring Dawn" initiative in early 2023, stipulating that the platform will not distinguish between self-operated and POP (third party) products and will adjust the algorithm to direct traffic to low-priced items. As a result, the number of new merchants on JD.com surged by 417% year-on-year in Q2. At present, the initiative has been further upgraded to provide additional support and benefits related to traffic and services for stores, thus assisting third-party merchants in enhancing product sales and conversion rates.

Subsidies constitute a crucial aspect of the 10 billion large-scale profit-sharing program, which is a key strategy for attracting new users and penetrating lower-tier markets.

JD.com App and WeChat mini-program users by city in October 2023

City tier

App

Mini-Programs

First-tier city

11.94 %

12.02 %

New first-tier city

23.21 %

21.52 %

Second-tier city

19.84 %

19.51 %

Third-tier city

20.33 %

21.11 %

Fourth-tier city

15.17 %

15.86 %

Fifth-tier cities

9.51 %

9.98 %

Data Source: MoonFox iApp; Data Collection Period: October 2023. The statistical results only include mini-program and App data and do not include traffic data from web pages or quick apps, among others within the WeChat ecosystem

According to MoonFox iApp data, the user base of the JD.com App and mini-program is increasingly shifting towards lower-tier cities. Users from third-tier cities on these two platforms accounted for 20.3% and 21.1%, respectively, approaching the user concentration levels in new first-tier cities.

Firstly, in the "Spring Dawn" initiative mentioned above, the ten-billion subsidy program is an important part and aims to assist third-party merchants in increasing their earnings while offering products at competitive prices through financial support. The data indicates that the GMV contributions of current third-party merchandise subsidies exceed 50%. JD.com aims to attract more third-party merchants to reshape the platform ecosystem.

Secondly, from the users’ perspective, the 10 billion subsidies truly enable consumers to purchase goods at lower prices, making them more appealing to users. According to official data from JD.com, the total number of 10 billion subsidized goods during the Double 11 period doubled compared to the 618 Shopping Festival, and the one-key price drop protection initiative saved users a total of 564 million yuan. Meanwhile, the turnover from the 9.9 free shipping and the flash sale channel campaigns saw a significant increase. Currently, JD.com’s focus remains on 3C products, supplemented by low-priced and high-discount flash sale products such as daily necessities, providing a strategic guarantee for the platform to capture medium- and low-consumption user groups.

The third tactic around procurement made this year’s Double 11 of JD.com slightly distinct from previous years.

This year, JD.com ventured into Procurement Personnel Livestreaming to explore new avenues. Unlike traditional e-commerce livestreaming, these livestreaming studios are simpler, more casual, and more authentic. The livestreaming covers a wider range of product categories (such as mobile phones and TV discount live broadcast rooms) and is primarily hosted by front-line procurement personnel. Examples of promotional language include no placement fees and recommender commissions, lower prices, and a 50% discount. Official data shows that as of 24:00 on Double 11, the number of audiences in JD Procurement Personnel Livestreaming studios exceeded 380 million, securing multiple-fold sales growth for many brands.

In summary, the low-price strategy has shown initial results, and JD.com achieved new highs in commodity turnover, order volume, and platform user numbers during 2023 Double 11. Compared with other e-commerce platforms, JD.com was able to firmly promote low-price strategy and maintain market competitiveness in the 3C categories, which are closely related to its strong supply chain capabilities.

II. Diving into supply chains to ensure continuous profitability in the logistics business

Data from the financial report indicates that in 2023 Q3, the revenue of JD Logistics reached 41.662 billion yuan, marking a YoY increase of 16.5%. JD Logistics has sustained profitability since achieving full-year profitability in 2022. Specifically, revenue from integrated supply chain customers amounted to 19.605 billion yuan, representing a YoY increase of 7.5%, while revenue from other customers totaled 22.06 billion yuan, reflecting a YoY increase of 25.7%.

The extensive coverage and high goods turnover are critical in creating competition barriers for JD Logistics.

Firstly, in terms of coverage, data from the financial report demonstrate that as of the end of September 2023, JD.com’s warehouse network had covered the vast majority of districts and counties in China, including over 1,600 warehouses operated by JD.com and more than 2,000 cloud warehouses operated by third-party owners on the cloud warehouse ecological platform. Secondly, JD Logistics’ special warehouse allocation mode ensures high turnover. By employing the regional and forward-looking warehouse mode, the platform can predict the demands for 3C categories and other goods in different regions through the decision system and proactively ship the goods to the warehouses nearest to consumers, significantly reducing shipping and delivery time for both merchants and users.

The combination of extensive coverage and a forward-looking warehouse enables JD Logistics to achieve impressive turnover for large customers. Meanwhile, JD.com is highly concerned with the business needs of merchants and is dedicated to empowering their capabilities on the solution side. According to the financial report, JD.com built the first-ever forward and reverse logistics integrated warehouse for Panasonic in August 2023. The warehouse takes charge of inspecting and recovering returned goods and directly shipping or reselling the qualified goods, thereby significantly shortening the handling time of returned goods and cutting transportation and other logistics-related costs for cost reduction and efficiency enhancement.

JD.com has set up a competitive and industry-recognized barrier to serve brand customers. Moreover, it is also building a brand fortress based on the rapid service system.

JD Express mini-program MAU & MoM growth from January to October 2023

Date

MAU (in million/person)

MoM change

2023/10

17.748

-0.71 %

2023/9

19.202

6.24 %

2023/8

19.727

1.52 %

2023/7

20.080

6.57 %

2023/6

21.497

12.46 %

2023/5

20.591

-7.37 %

2023/4

18.104

-5.74 %

2023/3

18.127

-10.46 %

2023/2

17.649

-5.38 %

2023/1

22.617

-24.71 %

Data Source: MoonFox iApp; Data Collection Period: January to October 2023. The statistical results only include mini-program data and do not include traffic data from web pages, App or quick apps, among others within the WeChat ecosystem

According to MoonFox iApp data, the monthly active users (MAU) of JD Express’s mini-program exceeded 17.75 million in October 2023. The comprehensively upgraded service system ensures the continuous growth of active users and the industry penetration rate of JD Express.

The upgrade of JD Express service is primarily reflected in three aspects:

First, there will be mandatory compensation for failure to collect packages within one hour. The courier will contact the consumer within 10 minutes of placing an order and will pick up the order at the doorstep within one hour upon confirmation. Rapid response can effectively enhance consumer trust in the platform, alleviate shopping pressure, and increase purchase desire. Second, on-time delivery is ensured. Any delayed deliveries will be compensated by the platform. The requirements for some business segments are even stricter. For example, in the case of Express Delivery and Fresh Food Express Delivery, if goods are delivered late due to reasons beyond the consumer’s control, the platform will offer coupons or actively refund money to consumers depending on the circumstances. Third, door-to-door delivery options are available for both shipping and delivery services. The platform will offer corresponding compensation if it is confirmed that goods were not delivered to consumers’ doorsteps.

The service system built around compensation approaches is recognized by consumers. According to 2023 Q3 survey data from the Chinese State Post Bureau, the top three express services in the satisfaction ranking are JD Express, SF Express, and EMS. The company outperforms the industry average in addressing complaints related to poor services, illegal charges, package loss, and delayed delivery. JD Express has currently further upgraded its services in Hong Kong and Macao to strengthen the interconnection with mainland China. We believe that the steady growth in revenue and active user scale of JD Express assure the group’s overall business development and implementation of the low-price strategy.

III. Short-term operations are under pressure with a positive outlook for long-term strategies

On the whole, the current development of JD.com is transforming. Initiatives such as the introduction of third-party merchants and attempts to venture into livestreaming and multiple subcategories will bring both opportunities and challenges for the company. Looking ahead, we believe:

First, JD.com’s short-term revenue may face pressure, but the profit margins are considerable under the cost reduction and efficiency enhancement approaches. In Q3 2023, JD. achieved a net profit of 10.6 billion yuan, a YoY increase of 5.9%, and the net profit margin was 3.2%, marking an increase of 0.8%. While the low-price strategy has some impact on overall revenue, the company is still able to maintain overall profit growth by relying on supply chain advantages and several cost control measures. We believe that the net profit result has proven the feasibility of JD.com’s strategic transformation, and the low-price strategy will steadily be advanced with the support of the aforementioned business strengths.

Second, while exploring the low-tier market remains worthwhile, the priority should remain on fulfilling the 3C demands of core users. In the eyes of some consumers, genuineness and low prices are inherently contradictory. But for the core users of JD.com, product quality and after-sales service hold greater importance. The business focus should be on ensuring access to third-party merchants while upholding product quality. In the future, JD.com is expected to continue developing the low-tier markets, particularly focusing on daily necessities and livestreaming, while imposing stricter selection and control on merchants in the 3C categories. It is anticipated that JD.com will further integrate its supply chain advantages and low-price strategy to offer more cost-effective products and services to consumers.

Aurora-Moonfox consistently monitors industry development and regularly tracks corporate performance. The following is our research report on industry hotspots:

《Image-Text Content, Hot Items, and Seeding Drive the Rapid Growth of RED Community》； 《Tencent focuses on the WeChat ecosystem and leverages mini-programs to create the second growth curve》； 《NetEase Q3 Financial Report Game-driven Multi-segment Growth》；

If you need a report, please contact us to obtain it.

Our Information:

Website: https://www.moonfox.cn/
Contact number: 400-888-0936

Contact us:

Name: Felix
Title: Director of Sales, Industry Insight Division
Tel: +86 -13366276383
Email:[email protected]
Address: 608/F, Tower B, Wintrust Center, No. 1 Xidawang Road, Chaoyang District, Beijing, China

Name: Silvia
Title: Senior Marketing Manager
Tel: +86-13691629681
Email: [email protected]
Address: 608/F, Tower B, Wintrust Center, No. 1 Xidawang Road, Chaoyang District, Beijing, China

Source : MoonFox Data: JD.com Q3 profits exceeded expectations and the "low prices & supply chain" combo approach showed initial effectiveness

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This content was prepared by our news partner, Cision PR Newswire. The opinions and the content published on this page are the author’s own and do not necessarily reflect the views of Siam News Network

HO CHI MINH CITY, Vietnam, Dec. 12, 2023 /PRNewswire/ — NiceHash, the world’s leading hashpower marketplace, featured in Forbes and Coinbureau, has launched their outstanding one-of-a-kind EasyMining platform with fast wallet registration, awesome tools and choice of low fee mining packages.

NiceHash is a cloud crypto mining hashpower platform founded in 2014 by two Slovenian university students, that has grown into the largest marketplace on the planet, supporting more than 250,000 daily active miners and more than 1 million miners total users across 190 countries.

As a global hashpower broker and cryptocurrency exchange, NiceHash is an open marketplace that connects sellers of hashing power with buyers of hashing power using the sharing economy approach.

NiceHash Miners can easily buy time on CPU, GPU, and ASIC mining rigs to start earning crypto. Alternatively, they can sell their existing mining capacity to other miners to earn income. It is a powerful platform for miners who want to get into Bitcoin mining without setting up their own data centre.

NiceHash is a legitimate platform with a number of safety measures in place to protect users’ accounts and funds. These include SSL encryption, 2-factor authentication, and email alerts about all activity on a user’s account.

Unique Benefits and Advantages.
Users can mine cryptocurrencies with as little as 0.001 BTC.
Supports 34 different mining algorithms and dozens of cryptocurrencies.
Quick Miner automated mining software is easy to use.
Enables anyone to sell hashpower for mining.
Offers short-term mining solutions (less than one day)
No contracts

First Mining platform of its kind.
Fast User Friendly Website / App Experience
24/7 multilingual customer support
Low Fees
Multi language

Key Features:

Hashpower Marketplace
The hashpower marketplace is at the heart of NiceHash mining. This is where miners and hashpower providers come together. Prices in the marketplace are automatically updated every 10 seconds in response to changing crypto prices, varying hashpower availability, and changing demand from miners.

QuickMiner
Quick Miner is an easy-to-use software developed by NiceHash specifically for NiceHash users. It is fully secure and enables miners to start mining on their own computer or on rented hashpower within seconds.

Profitability Calculator
The NiceHash profitability calculator is designed for hashpower sellers. It enables you to enter details about a mining rig and associated electricity costs then determine potential daily profits from mining.

CPU, GPU, and ASIC Mining
Notably, the hashpower marketplace supports CPU, GPU, and ASIC mining. Different mining rigs are suitable for mining different tokens, so this enables miners to focus on whatever mining algorithm and token combination is most profitable at any time.

EasyMining is the easiest way to mine bitcoin and many other cryptocurrencies. It enables anyone to start mining with no prior knowledge, and all the complexity is removed. Users can simply select the coin they want to mine and let the platform take care of the mining.

Register here now to Access All NiceHash Outstanding Mining Packages

Source : NICEHASH, WORLD LEADING CRYPTO MINING PLATFORM LAUNCHES IN VIETNAM

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This content was prepared by our news partner, Cision PR Newswire. The opinions and the content published on this page are the author’s own and do not necessarily reflect the views of Siam News Network

PASIG, Philippines, Dec. 12, 2023 /PRNewswire/ — This season of gifting and giving, Union Bank of the Philippines (UnionBank) continues to waive all fees for InstaPay fund transfers for transactions up to P1,000 made through the UnionBank Online app. Handing out cash gifts and paying for Christmas purchases through a safe, convenient, and affordable channel is something UnionBank customers can look forward to.

Enjoy Zero Fees with UB

UnionBank already has one of the most affordable online transfer fees, and this season, the Bank still has zero InstaPay fees! (For interbank fund transfers up to P1,000 to other banks and e-wallets via InstaPay in the UnionBank Online app.) The offer also applies to transactions involving QR Ph codes.

"We want our customers to enjoy their Christmas celebrations without having to worry about steep fees on their funds transfers for giving gift-giving and paying conveniently for their Holiday shopping purchases." said Albert Cuadrante, UnionBank’s Chief Marketing Officer.

Enjoy low-to-zero transaction fees and convenient digital banking with UnionBank Online App. Don’t have the app yet? Downloading the UnionBank Online app today from Google PlayStore, Huawei App Gallery, or the App Store! To learn more, visit www.unionbankph.com/unionbankonline.

Source : UnionBank waives fees for InstaPay fund transfers up to P1,000 this holiday season

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This content was prepared by our news partner, Cision PR Newswire. The opinions and the content published on this page are the author’s own and do not necessarily reflect the views of Siam News Network