According to the latest market data, the number of daily active users of the Mainland shelf e-commerce platform recorded a double-digit year-on-year increase in the number of active users of the Mainland shelf e-commerce platform from May 20 to June 3, which is higher than the average growth of content platforms. This year, 618"s e-commerce businesses streamlined their sales processes, including canceling pre-sales sessions and starting discounts early, driving the growth of total merchandise turnover (GMV) in May, with Ali (09988.HK) growing more than one GMV year on the first day of the 618 event. On the other hand, KYOTO (09618.HK) recorded a more than five-fold year-on-year increase in its 1,000-brand GMV on the first day, while PDD.US's (PDD.US) number of billion subsidized merchants increased by more than 90% year-on-year.

Industry data show that Mainland e-commerce platforms are still facing intense price competition, maintaining its view of the e-commerce sector in the second half of 2024, expecting QITO and TikTok to continue to gain more market share, while Ali and Kyoto will show a recovery in growth, with KYOTO outperforming the company. Retail sales of consumer goods will grow, while Alibaba will return to positive growth. THE EXCHANGE GAVE BUY RATINGS TO ALI (BABA.US) AND KYOTO (JD.US) U.S. STOCKS WITH TARGET PRICES OF $111 AND $40, RESPECTIVELY.