Daily Brief Consumer: PDD Holdings, Soybean Active Contract, TSE Tokyo Price Index TOPIX and more

In today’s briefing:

[Blue Lotus Logistics Sector Update]: Overseas E-Commerce Brews New Logistics Players
[Counting Beans #3]: Soybean Price Remains Solid But Headwinds On The Horizon
Key to Promote Diversity Isn’t Company’s Size but Rather Manager’s Judgment and Ability to Execute

[Blue Lotus Logistics Sector Update]: Overseas E-Commerce Brews New Logistics Players

Ex-China e-commerce conducted by Chinese e-commerce platform will rise from 2022 GMV of US$ 61bn to US$ 297bn in 2025, with Pinduoduo, Alibaba, SHEIN and TikTok leading the charge.
These companies, however, are incubating their own last mile partners. The political uncertainty of Chinese e-commerce overseas is hindering development of the industry;
We see J&T as the main beneficiary of Chinese e-commerce overseas, which must eventually undergo an infrastructure upgrade…

Brazil’s weather forecast remains mixed on showers with heavy rains to arrive only in January. Rainfall in Brazil’s key agricultural region.
U.S. soybean net sales show a significant uptick, but recent lack of large export sales could signal a slowdown in demand.
Asset managers reduce long positions in soybean futures and options, showing a shift towards a bearish market outlook but prices remain resilient above USc 1,300.

The efforts of SMEs aren’t initiatives for disclosure by listed companies, but measures born out of situations that compelled them to promote diversity as integral part of their business operations.
Not only SMEs, but also listed companies with management keenly aware of business risks could promote diversity initiatives that are rooted in their business without taking time to make decisions.
The goal should be to make human capital and diversity a core competence rooted in the business, not a passive initiative such as doing it for disclosure.

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