Should I be afraid about flying and/or losing my luggage with Juneyao Airlines?

I will be in Tokyo and taking a quick 3-day trip to Shanghai. I booked with Juneyao since they are Star Alliance (feels "safer" and I have status with United). However, after booking about 20 minutes ago and experiencing one of the oddest booking experiences for a flight (sent me to a separate website to pay, and then I had to acknowledge that I paid on their site), I decided to look more.

I'm concerned about potentially losing my luggage, which would be unbearable given such a short trip with is part of a larger 2 week trip in Asia. This seems to be the biggest issue, but also not sure if cancelled flights are at an even higher rate with them?

Hoping for some guidance so I can cancel within the 24 hour window after booking (if that's even a thing with them?).

Flight info is NRT > PVG on May 22