Why AnyMind believes the rising ecommerce tide will lift its boat

Opening Bell 🔔 is Tech in Asia’s free newsletter that brings you the biggest news and latest trends around Asia’s publicly listed tech companies. [Read from your browser]( Opening Bell 🔔 Welcome to the Opening Bell! Delivered every Monday via email and through the Tech in Asia website, this free newsletter breaks down the biggest stories and latest trends on Asia’s publicly listed tech companies. If you’re not a subscriber, get access by [registering here](. --------------------------------------------------------------- Written by Peter Cowan Journalist Hello {NAME} If you feel a little overwhelmed by the myriad of online shopping options consumers face today, you’re not alone. Should I get my new football boots from Lazada? How about Shopee or Tiki? Or should I just message the store on Facebook? First-world problems right there. More choice is generally good for the consumer (even if I have too many apps on my phone) but how about the ecommerce platforms themselves? It’s well-documented that the intense competition between the aforementioned firms and the likes of TikTok Shop has made ecommerce a cutthroat industry. But some are betting that competition is only going to heat up and help their bottom line. One such example is aggregator AnyMind Group (5027, TYO), which sees a fragmented market as good for its business. My colleague Melissa has the full story on its ambitious plans to 16x its profit this year. -- Peter  ---------------------------------------------------------------  THE BIG STORY [Tokyo-listed AnyMind eyes 16x profit in 2023 as more seek online selling tools]( In September, the ecommerce enabler revised its projections for full-year operating profit upward, from US$2.8 million to US$3.2 million. ---------------------------------------------------------------  3 TRENDS TO KEEP EYE ON Hot stocks, earnings reports, restructuring, pressure from activist investors, and more. 1️⃣ Game off: Shortly after enacting legislation that effectively banned TikTok Shop in the country, Indonesia has taken aim at another social media giant: Meta (META, Nasdaq). Budi Arie Setiadi, the Indonesian minister of communication and information, has [warned]( the company to remove online gambling content from its platforms. Setiadi has threatened to escalate the matter to law enforcement should Meta fail to “take appropriate action in response to this warning.” While Indonesian authorities have yet to set a deadline for compliance, Usman Kansong, the director general of public information and communication at the ministry, told Tech in Asia that they are monitoring the situation “continuously.” 2️⃣ EV race heats up: Competition in the electric vehicle sector is only ramping up and players big and small are seeking ways to cut costs. Vietnam’s VinFast (VFS, Nasdaq) has been [gifted]( lithium battery maker VinES in a bid to cut production costs in the long term. As you may have guessed from the “Vin” in both companies’ names, VinES is owned by VinFast founder Pham Nhat Vuong, who also holds the vast majority of the listed firm's stock. BYD (1211, SEHK), meanwhile, is considering [buying]( lithium mining assets in Brazil. The purchase would help the Chinese firm expand its EV production outside of Asia. 3️⃣ Holding out for a hero: Ahead of its market debut, MoneyHero[ posted]( a 56% drop in operating losses for the first half of the year. The financial comparison platform started trading on the Nasdaq on Friday via a [SPAC]( deal with Bridgetown Holdings, which is backed by Pacific Century Group and Thiel Capital. MoneyHero tried to go public in 2021 back when it was known as Hyphen Group but that deal fell through. The firm is the latest Singapore-based player to have fallen in love with the idea of a [Nasdaq listing]( even if that hasn’t worked out that well for its peers. 2 EYE-POPPING NUMBERS Tech in Asia scours the internet to bring you head-turning numbers from the world of business. - [US$1.6 billion]( The value of the new factory US chipmaker Amkor (AMKR, Nasdaq) debuted in Vietnam last week. It’s the latest in a string of moves for US-based firms to diversify their supply chains away from China and geopolitical risk. - [11%]( The record fall in stock price that Chinese ecommerce retailer JD.com (9618, SEHK) suffered in Hong Kong over fears that China’s consumption growth will stay sluggish. The firm’s stock price has halved since the start of 2023. THE ONE YOU DIDN'T SEE COMING We spotlight the story that had everyone talking and social media buzzing during the past week. Didi plans a U-turn: Two years after being forced to de-list from the New York Stock Exchange by Chinese authorities, ride-hailing pioneer Didi is contemplating a second bite of the apple. Bloomberg has [reported]( that the company is planning to list on the Hong Kong Stock Exchange next year. Didi paid a fine of US$1.1 billion to Chinese regulators last year, which may have gone some way to improve its relationship with the state. I know it would buy a lot of goodwill with me. The company was once valued a hefty US$80 billion before regulators opened a probe into it shortly after the initial listing. That’s it for this edition - we hope you liked it! Not your cup of tea? You can unsubscribe from this newsletter by going to our preference center at the bottom of this email. Happy investing and see you next week! Disclaimer: This content is for informational purposes only. Kindly do not construe any such information as legal, tax, investment, financial, or other advice. [ADVERTISE]( | [SUBSCRIBE]( | [HIRE]( | [FIND JOBS]( P.S. Don't miss out on the biggest tech news and analysis. Add newsletter@techinasia.com to your address book, contacts, or safe sender list. Or simply move us into your inbox. Too many emails? Switch to a different frequency or get new content through our [preference center]( or [unsubscribe](. 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