Asian boost for J&T Global Express

News Story
- 28 Mar 2024 ( #1172 ) - Hong Kong
1 min read
J&T Global Express has seen expansion in Asia
J&T Global Express has seen expansion in Asia

Logistics provider J&T Global Express achieved significant growth, expanded its business volume and improved operational efficiency and service quality, according to its 2023 financial statement.

The company's total revenue for the full year of 2023 reached USD8.85 billion, an approximately 22% year-on-year increase from USD7.27 billion in 2022. The total number of parcels handled for the year rose 29% to 18.8 billion.

Steven Fan, executive president of J&T Express, says, "Despite facing multiple challenges from the macro-environment and increasingly fierce market competition, we capitalised on the rapid development of e-commerce across the various markets. Leveraging our extensive network of logistics outlets, continuous improvement in operational efficiency and service quality, and the unwavering dedication of our employees, we achieved significant milestones in 2023. 

“We not only reinforced our leading position in South East Asia, but also achieved a breakthrough in profitability in our China business and registered rapid growth in emerging markets. Additionally, we became a public-listed company in Hong Kong, marking the beginning of a new chapter in our journey."

Since starting operations in the Middle East, North Africa and Latin America in 2022, the company has continued to improve and strengthen local infrastructure to improve regional network coverage. Network coverage rate in these markets has exceeded 95%.

In terms of parcel volume, J&T Global Express was ranked top five in Brazil, Mexico, Saudi Arabia and Egypt in 2023.

Looking ahead, Fan expects an improvement in marketshare with deepened cooperation with e-commerce platforms, strengthened infrastructure, enhanced operational efficiency, and increasing investment in technological innovation and sustainable development. “'Together For a Brighter Future' remains our unwavering slogan, and the management team will work together with all employees to continuously create value for our customers, shareholders, and society."

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