Amazon's ban wave is still in effect! These cross-border sellers lost more than 1 billion in a year!

1. Affected by changes in the policy environment of the Amazon platform and fierce competition in the European and American markets, the company's cross-border e-commerce operating performance in 2021 has declined significantly;

2. Due to the uncertainty of the policy environment of cross-border e-commerce platforms, intensified industry competition and the lower-than-expected operating performance of the main cross-border e-commerce business , the goodwill formed by the company's acquisition of its holding subsidiary Shenzhen Youkeshu Technology Co., Ltd. showed signs of impairment;

3. During the reporting period, the operating performance of the subsidiary Yuanjiang Information Technology Co., Ltd. (hereinafter referred to as “Yuanjiang Information”) deteriorated sharply, its cash flow basically dried up, and its staff turnover became increasingly serious.