J&T Express, a pivotal player in the global logistics landscape, has once again demonstrated its dominance in the competitive Southeast Asian market, maintaining its lead with the largest market share for the fourth consecutive year. The Hong Kong-listed company has also made significant strides in China, reporting its first-ever profit in this key market.

In 2023, J&T Express reported an impressive growth trajectory across its operations in Southeast Asia, China, and new markets, culminating in a substantial increase in revenue to US$8.85 billion, up by approximately 22% from the previous year. This growth was propelled by a remarkable 29% increase in the total number of parcels handled, reaching 18.8 billion.

The achievement of a gross profit of US$473 million and a positive adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) of US$147 million underscored a milestone year for J&T Express. The company’s operational efficiency and profitability witnessed significant improvements, particularly in the China market, where it reported positive results for the first time in both gross margin and adjusted EBITDA.

Steven Fan, J&T Express’s Executive President, attributed these accomplishments to strategic initiatives aimed at capturing the explosive growth of e-commerce across the different markets it serves. By leveraging an extensive network of logistics outlets and focusing on operational efficiency and service quality, J&T Express has managed to solidify its leading position in Southeast Asia and achieve breakthrough profitability in China.

In Southeast Asia alone, J&T Express increased its market share to 25.4% in 2023, handling over 3.24 billion parcels. The company’s successful collaborations with e-commerce platforms in the region facilitated peak season deliveries, particularly during significant shopping events like “Double 12”, where it managed over 16 million parcels in a single day.

The path to profitability in China was marked by strategic acquisitions and operational streamlining, allowing J&T Express to increase its market share to 11.6%. The company’s focus on service quality and customer satisfaction went hand in hand with its impressive growth, as evidenced by its low complaint rate and high ranking in complaint handling among China’s major express operators.

Expansion into new markets and emerging economies also played a crucial role in J&T Express’s growth strategy. The company has established a formidable presence in Brazil, Mexico, Saudi Arabia, and Egypt, among other countries, driven by deepened cooperation with major e-commerce platforms and continuous improvements in local network infrastructure.

Looking ahead, J&T Express is poised to ride the wave of the global e-commerce boom, with plans to further increase market share, strengthen infrastructure, and enhance operational efficiency. The company’s commitment to technological innovation and sustainable development is set to play a critical role in achieving these goals.

As J&T Express continues to expand its global footprint, its journey reflects the dynamic nature of the logistics and e-commerce sectors. The company’s ability to adapt and thrive amidst challenges showcases its resilience and dedication to creating value for customers, shareholders, and society at large.