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Q3 Earnings Review: How to grab the opportunities?
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BOCOM International: It is estimated that the growth rate of e-commerce GMV in Q4 will be basically the same as that in Q3

$BOCOM INTL(03329.HK)$ : The e-commerce platform of the Double 11 Festival focuses on improving the certainty of business operation, and the short video platform expands the diversified e-commerce scenarios:
1) $BABA-SW(09988.HK)$ : The turnover was flat on a year-on-year basis, and the key goal was to improve the business certainty. The turnover of 130+brands in the first four hours exceeded 100 million yuan.
2) $JD-SW(09618.HK)$ : The growth rate is better than that of peers, the number of buyers has set a new record, and the omni channel growth is eye-catching.
3) $KUAISHOU-W(01024.HK)$ : the number of buyers increased by 40%+year on year, and the number of fast brand GMV increased by 80%+year on year.
4) $ByteDance(FT0001)$ Tiktok: The number of merchants increased by 86% year on year, and the average daily sales volume driven by shelf e-commerce increased by 156% year on year.
The bank believes that the Double 11 Festival may drive the demand margin to recover. It is expected that the growth rate of e-commerce GMV in the fourth quarter will be basically the same as that in the third quarter, and the profit side will improve year on year.
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