External broker reports(aggregated public sources), CMB International

CMB International

External broker reports(aggregated public sources)

Incorporated in Hong Kong, supported by the mainland and targeting in global market, CMB International Capital Corporation Limited (“CMBI”) is an integrated financial institution providing comprehensive and professional services. As a wholly-owned subsidiary of China Merchants Bank ("CMB"), by leveraging on the Group’s synergy and coordination in domestic and overseas markets, as well as CMB’s strong resources and outstanding social reputation, CMBI and its subsidiaries have been actively implementing diversified business strategies and set up an overall layout of main business segments including Corporate Finance, Asset Management, Wealth Management, Global Markets and Structured Finance, etc. Adhering to the philosophy of “being clients oriented and increasing our own values by the way of creating value for clients”, CMBI endeavors to provide quality and integrated financial services to institutional, corporate and individual customers both domestic and overseas including Hong Kong IPO sponsorship and underwriting, share placement and rights issue for listed companies, financial advisors, bonds issuance services, asset management, direct investment, wealth management, equity sales and trading, etc.

Thematic (Sector/Industry)

<ul><li>For this year’s Double 11 sales promotion, overall industry delivered positive and stable YoY GMV growth (2.1%, per Syntun data), with Alibaba and JD.com (JD) both delivered positive YoY growth in GMV, order volume, and user volume.</li><li>Live streaming e-commerce GMV growth was still solid given a relatively lower base compared to horizontal e-commerce platform.</li><li>Ecommerce platforms are enhancing supply chain efficiency, product supply, and content ecosystem, as well as optimizing traffic allocation, to enhance user engagement, strengthen consumer mindshare on value for money products, and facilitate transactions, which in turn driving better ROI for merchants, and increasing merchants’ willingness to spend more on advertising. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

For this year’s Double 11 sales promotion, overall industry delivered positive and stable YoY GMV growth (2.1%, per Syntun data), with Alibaba and JD.com (JD) both delivered positive YoY growth in GMV, order volume, and user volume.Live streaming e-commerce GMV growth was still solid given a relatively lower base compared to horizontal e-commerce platform.Ecommerce platforms are enhancing supply chain efficiency, product supply, and content ecosystem, as well as optimizing traffic allocation, to enhance user engagement, strengthen consumer mindshare on value for money products, and facilitate transactions, which in turn driving better ROI for merchants, and increasing merchants’ willingness to spend more on advertising. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

China Internet – Trends observed from this year’s Double 11 shopping festival

Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms.

News from Caixin

Cross Asset Strategy

<ul><li>Financial meeting / Caixin Explains: China concludes sixth top financial meeting to tackle new challenges</li><li>Personnel /: China’s wave of ministry-level leadership shakeups rolls on in October</li><li>PE /: Communist Party cadres told to steer clear of private equity</li></ul>

Financial meeting / Caixin Explains: China concludes sixth top financial meeting to tackle new challengesPersonnel /: China’s wave of ministry-level leadership shakeups rolls on in OctoberPE /: Communist Party cadres told to steer clear of private equity

CX Daily: China Concludes Sixth Top Financial Meeting to Tackle New Challenges 

<ul><li>Based on NBS data, 8M23 online retail sales GMV/ online physical goods GMV reached RMB9.5/8.0tn, up 12.1/9.5% YoY.</li><li>The YoY growth of online physical goods GMV in Aug 2023 came in at 6.1% (July 2023: 5.0%), which was largely in line with our estimate at 5.5%, demonstrated a marginal sequential improvement trend but indicated that consumption recovery still takes time.</li><li>Although overall top-line growth of e-commerce platforms is likely to face shortterm fluctuation due to macro uncertainties, e-commerce platforms are driving revenue growth and scale expansion in an efficient way and targeting for operating efficiency improvement, which likely leads to benign-than-expected industry competition, and better-than-expected earnings growth in 3Q23. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Based on NBS data, 8M23 online retail sales GMV/ online physical goods GMV reached RMB9.5/8.0tn, up 12.1/9.5% YoY.The YoY growth of online physical goods GMV in Aug 2023 came in at 6.1% (July 2023: 5.0%), which was largely in line with our estimate at 5.5%, demonstrated a marginal sequential improvement trend but indicated that consumption recovery still takes time.Although overall top-line growth of e-commerce platforms is likely to face shortterm fluctuation due to macro uncertainties, e-commerce platforms are driving revenue growth and scale expansion in an efficient way and targeting for operating efficiency improvement, which likely leads to benign-than-expected industry competition, and better-than-expected earnings growth in 3Q23. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

China Internet – August online retail sales recap

<ul><li>NEVs /: Chinese NEV industry hits back at EU anti-subsidy probe</li><li>China-Venezuela /: China and Venezuela agree to upgrade official status</li><li>Property /Charts of the Day: China’s latest policy support boosts home sales, but briefly</li></ul>

NEVs /: Chinese NEV industry hits back at EU anti-subsidy probeChina-Venezuela /: China and Venezuela agree to upgrade official statusProperty /Charts of the Day: China’s latest policy support boosts home sales, but briefly

CX Daily: Chinese NEV Industry Hits Back at EU Anti-Subsidy Probe

<ul><li>Batteries /Cover Story: Chinese battery makers gird for price war in competition to supply EV producers</li><li>G20 /: Chinese premier meets Biden at G20</li><li>China-U.K. /: U.K. welcomes China investment in ‘key areas,’ trade minister says</li></ul>

Batteries /Cover Story: Chinese battery makers gird for price war in competition to supply EV producersG20 /: Chinese premier meets Biden at G20China-U.K. /: U.K. welcomes China investment in ‘key areas,’ trade minister says

CX Daily: Chinese Battery Makers Gird For Price War In Competition To Supply EV Producers

China

Alibaba Group Holding Limited provides online sales services. The Company provides internet infrastructure, electronic commerce, online financial, and internet content services through its subsidiaries. Alibaba Group Holding offers its products and services worldwide.

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Alibaba Group Holding (BABA US)

China Internet – Trends observed from this year’s Double 11 shopping festival

For this year’s Double 11 sales promotion, overall industry delivered positive and stable YoY GMV growth (2.1%, per Syntun data), with Alibaba and...

CMB International

CX Daily: China Concludes Sixth Top Financial Meeting to Tackle New Challenges

Financial meeting / Caixin Explains: China concludes sixth top financial meeting to tackle new challenges China held its twice-a-decade central...

Caixin Global

China Internet – August online retail sales recap

The YoY growth of online physical goods GMV in Aug 2023 came in at 6.1% (July 2023: 5.0%), which was largely in line with our estimate at 5.5%

CMB International

CX Daily: Chinese NEV Industry Hits Back at EU Anti-Subsidy Probe

NEVs /: Chinese NEV industry hits back at EU anti-subsidy probe China-Venezuela /: China and Venezuela agree to upgrade official status iPhone /:...

Caixin Global

CX Daily: Chinese Battery Makers Gird For Price War In Competition To Supply EV Producers

Batteries /Cover Story: Chinese battery makers gird for price war in competition to supply EV producers G20 /: Chinese premier meets Biden at...

Caixin Global

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