01. East Buy East Buy Invests in Agricultural Products: 17.52 Million Yuan to Expand Self-Operated Factory in Jiaozuo, Henan East Buy announced an investment of 17.52 million yuan for the expansion of its self-operated sausage factory, located in Jiaozuo, Henan, covering an area of 14,000 square meters. This is the first specific investment case in the agricultural product industry chain after East Buy announced increased agricultural investment several months ago. East Buy stated that it has signed an agreement with the producer of its self-operated sausages to jointly establish a joint venture. East Buy will hold a 30% stake in the joint venture, with cash contribution, primarily used for production workshop construction and equipment procurement. (Sina Finance) 02. Maiquer Maiquer Auctions Shares to Repay Huge Debts Recently, Maiquer announced that some shares held by its controlling shareholder, Xinjiang Maiquer Group Co., Ltd., will be publicly auctioned on Alibaba Auction. The shares involved amount to 20.4218 million shares, accounting for 11.73% of the company's total share capital. On January 31, Maiquer released its performance forecast, expecting a net loss attributable to parent company shareholders of between 370 million and 480 million yuan for the previous year, a decrease of 2104.60% to 2700.57% compared to the same period last year, with basic earnings per share loss ranging from 2.1247 yuan to 2.7564 yuan. 03. Linqi Tuan "Linqi Tuan" Receives $2.8 Million Seed Round Investment According to media reports, this seed round financing worth $2.8 million was led by globally renowned venture capital institution Y Combinator on January 31, 2023. The funds will mainly be used for early-stage market team operations, supply chain ecosystem construction, and layout. 04. Commerce Development Ministry of Commerce: Prioritize Restoring and Expanding Consumption in 2023 On January 31, the National Commerce Work Teleconference was held in Beijing. The meeting clarified that to do well in 2023 commerce work, it is necessary to adhere to systematic thinking, uphold integrity and innovation, strengthen confidence, and better achieve the organic unity of optimizing epidemic prevention and control with promoting commerce development, effective quality improvement with reasonable quantity growth, domestic and international circulation, and open development with maintaining security. Focus on six aspects: first, prioritize restoring and expanding consumption; second, make greater efforts to stabilize foreign trade scale and optimize structure; third, make greater efforts to attract and utilize foreign investment; fourth, cultivate new growth points for international economic and trade cooperation; fifth, deepen multilateral and bilateral economic and trade cooperation; sixth, enhance the ability to maintain economic security. (Titanium Media) 05. Sanyuan Shares Sanyuan Shares 2022 Net Profit Expected to Drop 86%-90% Recently, Sanyuan Shares released its 2022 annual performance forecast. The company expects net profit attributable to owners of the parent company for the year 2022 to be between 29 million and 41 million yuan, a decrease of 204.21 million to 216.21 million yuan compared to the same period last year (statutory disclosed data), a year-on-year decrease of 83% to 88%; compared to the same period last year (retrospective adjustment data), a decrease of 257.51 million to 269.51 million yuan, a year-on-year decrease of 86% to 90%. Regarding the reasons for performance changes, Sanyuan Shares stated that the company merged Shounong Animal Husbandry in January 2022. Affected by the significant rise in feed prices such as soybean meal, corn, and alfalfa, breeding costs increased cyclically, leading to a significant year-on-year decline in the animal husbandry segment's profit. 06. Sun Art Retail Membership Store Sun Art Retail's First Membership Store to Open on April 28 On February 1, the M Members Store official account announced that the first national store of M Members Store will officially open on April 28. M Members Store is a high-end paid membership store under Sun Art Retail. Its first national store is located at 425 Jiangyang Middle Road, Yangzhou, transformed from RT-Mart Jiangyang Store. The predecessor of RT-Mart Jiangyang Store was Auchan Supermarket, which officially opened in December 2008, renamed RT-Mart in June 2021, and began closed renovation on July 18, 2022. 07. Carrefour On January 30, Changsha Carrefour Furong Plaza Store Officially Closed The store notice stated that due to the company's overall business format adjustment, the Carrefour Furong Plaza store will cease operations on January 30. We regret that we cannot continue to accompany everyone. We deeply apologize for the inconvenience caused. Before closing, the store will do its utmost to provide normal business services. (Lianshang.com) 08. JD.com JD.com Closes Indonesia and Thailand Sites, Shrinks Southeast Asia E-commerce Business, Focuses on Logistics and Warehousing On January 22, JD.com Indonesia announced on its official website that it would stop using its self-operated logistics JDL Express Indonesia, and offline stores began clearance sales. JD.com Thailand announced on January 30 that it would suspend all Thailand site services from March 3, 2023, with brand official stores stopping order acceptance at 23:59 on February 15, and other stores closing at 23:59 on March 3, 2023. Recommended Reading