Question List- Please prepare in advance

[Organization Structure]
1. Please help check if this chart shows the real structure of Shopee and SPX.
2. Is the pickup, transport, and delivery managed separately by region, or is it
split by function first and then by region? What are the additional benefits of
the chosen approach?
3. It shows that the key decision-making role of SPX is under Shopee's ID
Operations Excellence department instead of SPX. Why is this the best choice
for Shopee's in-house logistics part? What would happen if SPX had its own
strategy-making capability?
4. How long does it take to hire a high-level management key person, like an
SPX director, Shopee Operations Excellence director, or Shopee Indonesia
COO?
5. Who were the influential executives at SPX during the 2019-2023 period who
helped SPX overcome difficulties and achieve growth targets? What were their
professional backgrounds? Why were they effective in their roles? Was their
decision-making based on courier industry experience, numerical analysis, or
understanding of the e-commerce headquarters?

[Rate Card of SPX]

1. How does SPX set the rate card for SPX? If the real cost of one parcel
delivery from Jakarta to Surabaya is 5000 IDR, how much money does SPX
charge Shopee?
2. What is the allocation logic behind Shopee? What is the top line of SPX order
allocation share? Considering that J&T also provides good prices and capacity
in rural areas, in the end, what percentage of parcels will go to SPX and what
kind of parcels will go to 3PL?
3. Is it necessary to leave some profit in SPX so SPX can get direct incentives
from cost reduction instead of an open book to Shopee?

[Subsidies]
1. How are annual financial subsidies set for SPX?
2. There is a balance for Shopee: if Shopee allocates most orders to 3PL, they
can get direct and clear cost reduction. If Shopee allocates orders to SPX,
Shopee may face higher costs because SPX is in its early stages and its costs
are higher than J&T's. How is the additional cost of supporting SPX calculated,
and should this additional cost be added to the total order cost and quoted to
customers?

[Organization Efficiency]
1. Does SPX bring risks to Shopee, such as tax risk and compliance risk? On the
other hand, does Shopee's compliance control drag down the development
progress of SPX? How can the conflict between a logistics company and an e-
commerce company be balanced?
[R&D]
1. How many employees did SPX have at each stage from 2019 to 2023? How
many of them were in R&D? Was the key focus on timely functional
development? Given that R&D costs are high and labor is cheap in Indonesia,
how was this balance managed?

[Sales Volume Breakdown]

1. What is the total order volume for Shopee in Southeast Asia and Indonesia?
2. What is the percentage breakdown of each logistic product type (instant,
same-day, next-day, more than 2 days)? What is the purpose of developing
instant and same-day services? I think these two services contribute a limited
GMV share, so why does Shopee develop these services?
3. In Shopee warehouses, how many products are owned by Shopee (1P), and
how many are owned by sellers (3P)? Will Shopee develop a new model where
Shopee decides the pricing and operations of products, and sellers just provide
the goods? If the goods are unsalable, the seller should take them back and
bear the loss of slow sales.