SF, Amazon co-launch direct mail service

SF Group announced Wednesday that its unit SF International and Amazon International Shopping jointly launched a new direct mail service between China and the United States to provide faster logistics services, simplify customs clearance processes, and achieve more transparent logistics tracking.

Amazon closed its e-commerce business in China in 2019 after operating for more than a decade. It bought Joyo.com, a popular online seller of books, for about US$75 million in 2004 and rebranded the Joyo business in 2011 to Amazon China.

GAC’s new facility

in Thailand

CARMAKER GAC Aion, a subsidiary of the Guangzhou-based GAC Group, witnessed its first electric car roll of the assembly line in its newly opened facility in Thailand on Wednesday.

With an investment of 2.3 billion baht (US$64 million), the smart factory is located in Rayong province in Thailand’s Eastern Economic Corridor (EEC), with an annual capacity of 50,000 vehicles.

Shenzhen-based BYD’s Thai facility began production July 4 after 16 months of construction.

Apology boosts

Nongfu Spring

SHARES of Nongfu Spring (HK9633) soared Thursday after the consumer council in Hong Kong said sorry for the erroneous report on the level of bromate in the bottled water giant’s products after misclassifying them as natural mineral water instead of natural drinking water.

Nongfu Spring surged 6.48% to HK$35.35 (US$4.53) a share on Thursday, after jumping by as much as 8% earlier.

The council realized its mistake and reassessed the ratings, the independent statutory authority said on its website.

Fewer pre-owned

homes for sale

THE number of second-hand houses registered for sale at property brokerages in China’s four first-tier cities has declined from recent highs, with the real estate market showing signs of bottoming out.

Pre-owned homes for sale fell by 53,000 to 238,000 units in Shanghai, by 24,000 to 102,000 units in Beijing, by 16,000 to 83,000 units in Shenzhen, and by 11,000 to 77,000 units in Guangzhou as of Tuesday from a record high in May, according to data from 58 Anjuke Institute.