E-Commerce Morning Brief: Duan Yongping Explains Pop Mart Shareholding Change; Gold Prices Raised Across the Board; Cainiao Launches 3-Day Global Cross-Border Logistics Service

News 1: Duan Yongping responds to Pop Mart stake reduction: It is not a direct sell-off in the secondary market, but the performance of an options contract.

On August 5, according to the Hong Kong Stock Exchange's equity disclosure, the shareholding ratio of Pop Mart's H shares held by the fund managed by Duan Yongping dropped from 7.65% to 5.55% on July 30, 2026. Duan Yongping stated on Xueqiu that this stake reduction was not a direct sell-off in the secondary market, but was caused by the delivery of corresponding shares in accordance with the transaction agreement as part of the performance of an options contract.

News 2: Gold jewelry prices of Chow Tai Fook, Chow Sang Sang and Lao Miao collectively rise by around RMB 8-10 per gram.

Gold jewelry prices of multiple brands collectively rose by around RMB 8-10 per gram in a single day. On August 5, Chow Tai Fook's pure gold jewelry was quoted at RMB 1,240 per gram, up RMB 9 in a single day; Chow Sang Sang's pure gold jewelry was quoted at RMB 1,237 per gram, up RMB 10 in a single day; Lao Miao's pure gold jewelry was quoted at RMB 1,236 per gram, up RMB 8 in a single day; Lao Fengxiang's pure gold jewelry was quoted at RMB 1,237 per gram, up RMB 9 in a single day.

News 3: Be a Friend expects first-half net profit of approximately RMB 86 million to RMB 93 million.

Be a Friend Holdings announced on the Hong Kong Stock Exchange that the Group expects to record a net profit of approximately RMB 86 million to RMB 93 million for the six months ended June 30, 2026, compared with RMB 56.4 million in the same period last year, representing a year-on-year increase of approximately 52.6% to 65.0%. The Board of Directors believes that during the interim period, the Group's live-stream e-commerce business continued to evolve, its multi-platform matrix of live-stream rooms continued to improve, its vertical live-stream capabilities continued to enhance, and most importantly, its end-to-end AI live-stream empowerment system continued to be rolled out, driving steady improvements in the company's content efficiency and operational efficiency, which led to the increase in the Group's net profit.

News 4: Testing offline sales, Meituan's Songshu Convenience pilots "store-warehouse integration".

Following the opening of offline physical stores by Little Elephant Supermarket, Meituan's subsidiary Songshu Convenience recently launched its first "store-warehouse integration" pilot in Shanghai. On the basis of its original online front warehouse fulfillment services, the store is open to offline customers for the first time. Ebrun learned that Songshu Convenience's move is to add functions on the basis of its original warehouses, so as to broaden the revenue growth channels of its stores. For Songshu Convenience, which adopts a self-built supply chain and strictly managed franchise model, the larger the order scale, the better the supply chain efficiency can be realized. The combination of online and offline channels can precisely leverage this positive cycle. As of July 31, 2026, the number of Songshu Convenience stores has reached 1,000, covering more than 100 cities.

News 5: Following Tianbian Casserole Braised Noodles, Jia Guolong launches new brand "Tianbian Yangduo".

Following the launch of Tianbian Casserole Braised Noodles, Jia Guolong, founder of Xibei, will launch a new brand "Tianbian Yangduo", and plans to open its first national store on the 5th floor of Fengke Wanda in Beijing on August 7. The above news was released by the official WeChat public account of Tianbian Dianxiaoer on August 4. A video on the public account shows that "Tianbian Yangduo" will focus on in-store processing of fresh Inner Mongolia lamb, and ended with the statement "Tianbian brand renewal". Currently, the first Beijing store of "Tianbian Yangduo" has been listed on Dianping, with an average per capita consumption of RMB 45. Its signature dishes include roasted air-dried lamb skewers, roasted fried rice fresh lamb chop skewers, fresh lamb spicy skin pizza, and Hohhot lamb shaomai, among others.

News 6: Cainiao launches "Global 3-Day Delivery": 72-hour door-to-door cross-border logistics timeliness further accelerated.

On August 5, Cainiao Group officially released its "Global 3-Day Delivery" cross-border logistics service product in Shenzhen. From the previous "Global 10-Day Delivery" to the "Global 5-Day Delivery" launched three years ago, and now to the "Global 3-Day Delivery", Cainiao has turned "72-hour global door-to-door delivery" into reality. "Global 3-Day Delivery" is not only the time limit for shipments from China to the rest of the world, but also the logistics timeliness for cross-border shipments worldwide. On 15 core cross-border routes, including those from China to Europe, between pan-European countries, and between Middle Eastern countries, Cainiao has achieved door-to-door delivery within 3 natural days after consumers place their orders.

News 7: Temu joins European cross-border commerce organization to accelerate integration into local e-commerce ecosystem.

Temu has officially joined CB Commerce, a European cross-border commerce organization headquartered in Brussels, becoming one of the latest members admitted by the organization. CB Commerce brings together EU retailers, e-commerce platforms and industry partners. In the future, Temu will participate in the organization's business acceleration projects, carry out in-depth cooperation with local European seller groups, and open relevant entry resources to help the development of the regional e-commerce ecosystem. Temu stated that the European market is a key direction of its long-term strategic layout. By joining CB Commerce, an industry exchange platform, Temu plans to further strengthen continuous communication with the European industry, more accurately adapt to the EU's cross-border business rules and consumer market environment, and promote localized operation on the basis of compliance. In addition, Temu also hopes to provide small and medium-sized European sellers with a new channel to connect with global consumers.

That's all for today's morning brief. For more e-commerce knowledge and content, please stay tuned to Ebrun Audio News.