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At the end of June, the turmoil and doubts in the cross-border circle were still unfolding among sellers. In May, we reported that a Shenzhen seller with annual sales of 10 billion yuan had its account blocked. For details, please see "Breaking news! A seller with annual sales of 10 billion yuan had its account blocked, and the link became a dog! Or is it related to the evaluation? " It has been more than a month since then, and the relevant accounts have not been restored yet, but a new brand has fallen into the "account blocking vortex". Top selling brand is in trouble again Recently, a seller posted a statistics table of top sellers’ accounts that had been banned on WeChat Moments. The table recorded in detail the top sellers who had been banned by Amazon this year, and noted the brands, categories and reasons for the ban. The number of big sellers on the table is staggering, and this battle-hardened big seller is also among them. According to the table, just yesterday, two more brands of this big seller were blocked by Amazon. The editor also further verified this matter and found that these two brands could no longer be searched on the Amazon front desk. According to the blocked account statistics, the seller’s account was previously blocked due to a database leak, but the reasons for the two brands currently involved in the controversy are not clear yet. As this form spread among the seller group, many sellers expressed regret and surprise, lamenting that the cross-border world has changed and that the tolerance of the Amazon platform is no longer what it used to be. Some sellers said that they have only one goal this year, which is to stay alive, and nothing is more important than account security. If the fate of big sellers is always tied to the platform, then there is another type of seller who, although not on the list of platform rectification, has gone bankrupt due to poor management. Among them, Global Easy Buy, a cross-border online celebrity seller a few years ago, has long lost its glory and is trapped in a cage of huge debts. Cross-border Link issued an announcement on Global Bankruptcy Recently, Global Easy Shopping's parent company, Cross-border Tongbao, issued a "Reminder Announcement on the Bankruptcy and Liquidation Application of a Wholly-Owned Subsidiary". The announcement stated that Global Easy Shopping, a wholly-owned subsidiary of Cross-border Tongbao, recently received the "Notice" No. (2021) Yue 03 Bankruptcy Application 380 delivered by the Shenzhen Intermediate People's Court of Guangdong Province . The creditor, Shenzhen Nanshan Branch of Industrial and Commercial Bank of China, Co., Ltd., applied to the Shenzhen Intermediate People's Court for bankruptcy liquidation of Global Easy Shopping on the grounds that Global Easy Shopping could not repay its due debts and obviously lacked the ability to repay . There is still significant uncertainty as to whether the applicant's application will be accepted by the court and whether Global Easy Shopping will enter bankruptcy liquidation procedures. In short, the key to whether Global Easy Shopping will go bankrupt lies in whether the Shenzhen Intermediate Court accepts the bankruptcy application. If the Shenzhen Intermediate Court accepts the bankruptcy application, Global Easy Shopping will enter bankruptcy proceedings, Cross-border Communication will lose its control, and Global Easy Shopping will no longer be included in the company's consolidated financial statements. The applicant believes that the debtor meets the conditions stipulated in Article 2 of the Provisions of the Supreme People's Court on Several Issues Concerning the Application of the Enterprise Bankruptcy Law of the People's Republic of China (I) that the debtor should be deemed unable to repay the debts due. At the same time, the applicant believes that the debtor obviously lacks the ability to repay the debts. From this perspective, the risk of Global Easy Shopping being declared bankrupt is very high. As of now, Cross-Border Link’s long-term equity investment in Global Easybuy is 3.213 billion yuan, its debt is 344 million yuan, and its guarantee amount is 888 million yuan. Data shows that as of March 31, 2021, Global Easy Shopping had total assets of 159,708.51 million yuan, total liabilities of 337,602.28 million yuan, net assets of -177,893.77 million yuan , operating income of 32,386.84 million yuan from January to March 2021, total profit of -17.1337 million yuan, and net profit of -17.1337 million yuan. If Global Easy Shopping enters bankruptcy liquidation procedures, there is a risk that the long-term equity investment and debt claims cannot be recovered, and the guarantee liability has not been eliminated. Cross-Border Link will make impairment provisions and recognize corresponding estimated liabilities in accordance with relevant regulations. The series of incidents involving big sellers have caused a major reshuffle in the cross-border e-commerce industry. The entire market situation has become unclear, and countless small and medium-sized sellers have sighed with emotion. ▲ The picture comes from Zhiwubuyan But the sellers said it well: All sellers should encourage each other, make good products steadily, operate in compliance with regulations, and explore overseas markets together, regardless of changes or not, face it calmly. I hope all sellers can protect their accounts, abide by platform rules, operate in compliance, and avoid being caught up in this “account blocking vortex.”
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