Temu Adapts with Local U.S. Fulfillment Amid Tariffs; TikTok Australia Profit Triples in 2024
Latest news and analysis on China’s global e-sellers
Here’s our pick for last week’s news:
Temu Adapts with Local U.S. Fulfillment Amid Tariffs
TikTok Australia Profit Triples in 2024
Walmart Backs Down on China Tariffs
Amazon Haul May Reveal Import Fees in Tariff Fallout
Anker Posts 41% Revenue Jump in 2024
Roborock Q1 Sales Surge 86% on Global Growth
Midea Tops 400B RMB in 2024 Revenue
GreatStar 2024 Profit Jumps 36% on Strong U.S. Sales
SONGMICS Home Grows Fast Beyond Amazon
Henglin Home's Overseas E-com Sales Up 240% in H1 2024
Tianlala to Add 200 Global Stores by 2025
Temu Adapts with Local U.S. Fulfillment Amid Tariffs
Amid escalating tariffs, Temu has shifted its U.S. strategy by halting direct shipments of China-made goods and pivoting to a local warehousing model. Starting May 2, the U.S. revoked its tariff exemption for low-value imports, imposing duties of up to 145% on Chinese goods. In response, Temu's U.S. site now exclusively features products labeled as "local warehouse," fulfilled by U.S. sellers and free from import duties. The company says this change will help stabilize prices, reduce consumer costs, and support local businesses. Temu is also actively recruiting U.S. sellers to expand its platform. (CBS News)
TikTok Australia Profit Triples in 2024
TikTok Australia doubled revenue to 679 million AUD ($438.76 million) and nearly tripled profit to 31.2 million AUD ($20.16 million) in 2023, driven by 474 million AUD ($306.29 million) in ad sales and 204 million AUD ($131.82 million) in services to its parent company. The platform, owned by China's ByteDance, now lists 106 open roles in Sydney and paid 11.1 million AUD ($7.17 million) in taxes, up from 5.1 million AUD ($3.3 million). However, its rapid growth may slow amid rising calls to restrict youth access to social media. (The Australian Financial Review)
Walmart Backs Down on China Tariffs
Walmart has reversed course on Trump's "reciprocal tariffs," initially pressuring Chinese suppliers to absorb the costs but quickly shifting to cover the duties itself after just 20 days due to inventory strains. Chinese manufacturers in Jiangsu and Zhejiang say U.S. retailers—including Walmart—have resumed orders, with tariffs now paid by American buyers. On March 11, Walmart had demanded 10% price cuts per round of tariffs to offset the 145% duty. Following intervention by China's Ministry of Commerce and mounting pressure, the CEOs of Walmart, Target, and Home Depot met with Trump at the White House by April 21 to negotiate. (cyzone.cn)
Amazon Haul May Reveal Import Fees in Tariff Fallout
With the U.S. ramping up tariffs, Amazon is under pressure as roughly 70% of its merchandise comes from China, according to Wedbush. Top sellers report they can now raise prices by up to 25% without facing penalties. Internally, Amazon weighed displaying tariff-related cost breakdowns on listings but shelved the idea for its main site; however, its discount marketplace, Amazon Haul, may begin showing import fees on select items. (cyzone.cn)
Anker Posts 41% Revenue Jump in 2024
Anker Innovations reported 2024 revenue of 24.71 billion RMB ($3.39 billion), up 41%, with net profit rising 31% to 2.11 billion RMB ($289.24 million). R&D investment climbed 49% to nearly match profits. In Q1 2025, revenue grew 37% to 5.99 billion RMB ($821.11 million). The company's energy storage business surged 184% to 3.02 billion RMB ($413.98 million), as Anker expanded its global reach to 146 countries and regions. (Jiemian News)
Roborock Q1 Sales Surge 86% on Global Growth
Roborock's Q1 2025 revenue jumped 86% to 3.43 billion RMB ($470.19 million), with net profit hitting 267 million RMB ($36.60 million). Growth was driven by a broader product mix and stronger global sales. The company is also scaling overseas manufacturing—now covering over half of the U.S. market—to hedge against trade risks.(36Kr)
Midea Tops 400B RMB in 2024 Revenue
Midea Group reported Q1 2025 revenue of 128.4 billion RMB ($17.60 billion), up 20.6%, with net profit soaring 38% to 12.4 billion RMB ($1.70 billion). The company's 2024 revenue exceeded 400 billion RMB ($54.83 billion) for the first time, as overseas e-commerce sales jumped 50% and international markets accounted for over 40% of total revenue. Midea is accelerating global growth with new hubs in Thailand and Saudi Arabia and a focus on smart, localized products. (36Kr)
GreatStar 2024 Profit Jumps 36% on Strong U.S. Sales
GreatStar Group reported record 2024 earnings, with revenue climbing 35.4% to 14.8 billion RMB ($2.03 billion) and net profit up 36.2% to 2.3 billion RMB ($315.28 million). The Zhejiang-based toolmaker saw strong global demand, with sales in the Americas surging 34.7% to 9.39 billion RMB ($1.29 billion)—63% of total revenue. Hand tools grew 40.5%, power tools 36.5%, and industrial tools 22.1%. Own-brand and ODM sales contributed nearly equally, each rising over 35%. With 23 factories worldwide, GreatStar continues to expand its global supply and distribution network. (GreatStar Group)
SONGMICS Home Grows Fast Beyond Amazon
Shenzhen-based SONGMICS Home reported 2024 revenue of 8.12 billion RMB ($1.11 billion), up 33.7%, though net profit fell 19% to 334 million RMB ($45.78 million) due to margin pressures. Q1 2025 showed signs of recovery, with revenue up 13.6% and profit rising 10.3%. Growth was driven by its three brands—SONGMICS, VASAGLE, and FEANDREA—with furniture and home goods sales up over 35%. North American sales surged nearly 39% through supply chain shifts and ad optimization, while Europe gained 31% on improved logistics. Non-Amazon platforms—including Temu, OTTO, Shein, and DTC sites—contributed strongly, with Temu rising to the company's No. 4 B2C channel by year-end. (Cifnews)
Henglin Home's Overseas E-com Sales Up 240% in H1 2024
Henglin Home Furnishings reported a record revenue of 11.03 billion RMB ($1.51 billion) in 2024, up 34.6% YoY. The company, a key player in East China's office furniture market, posted a 19.5% rise in net profit to 281 million RMB ($38.52 million). In 2024, Henglin's OBM business accounted for 53.7% of total revenue, reflecting its shift from OEM/ODM. Cross-border e-commerce surged 240.9%, reaching 1.69 billion RMB ($231.67 million) in H1 2024. Henglin also sold nearly 10 million office chairs and 2 million soft furniture units last year. (cyzone.cn)
Tianlala to Add 200 Global Stores by 2025
Tianlala Fresh Fruit Tea plans to open 200+ new stores across Southeast Asia, Europe, North America, and the Middle East by 2025. The brand, which began overseas expansion in 2023, already operates nearly 100 stores abroad—including 60 in Indonesia—and has signed over 8,000 stores worldwide since its founding in 2015. (36Kr)