Rapid international expansion continues to fuel growth at Hong Kong-based e-commerce logistics provider J&T Express, which reported record second quarter volume of 7.4 billion parcels, up 23.5% from the prior year. Total parcel volume for the first half of the year increased 27% to 14 billion pieces.
J&T Express achieved full-year profit for the first time in 2024 behind a 16% increase in revenue to $10.3 billion. It turned a net profit of $110 million compared to a $1.2 billion loss in 2023.
The company, which operates in 13 countries, processed 81.2 million parcels on an average daily basis during the second quarter.
J&T Express is a major express carrier in Southeast Asia, with a market share of 29%, according to independent research groups and the company. Customers include popular e-commerce platforms, local brands and B2B shippers. In addition to serving e-commerce platforms, J&T has also expanded into parcel delivery for general customers.
The courier reported that volumes increased by two-thirds to 1.7 billion parcels in the region during the April-June period — the fastest single quarter since its listing on the Hong Kong Stock Exchange in October 2023. The company officially launched in Indonesia in 2015. Full-year regional volumes last year exceeded 4.5 billion pieces
J&T is heavily investing to improve its network capacity and efficiency in Southeast Asia. It added another 700 service points during the first half of the year, bringing the total number of delivery stations to 10,500. The carrier now has 5,400 line-haul vehicles after adding 800 vehicles this year. It also invested in 58 additional automated sorting machines across multiple countries.
China is J&T’s largest market. In the second quarter, it handled 5.6 billion parcels, representing a 14.7% increase year over year. Toy manufacturers are one of the large industry verticals it serves. In October, the company opened a 1.6 million-square foot, self-operated distribution park in Yangzhou that can process up to 6 million parcels per day. The facility is equipped with advanced sorting technologies, including cross-belt sorters for inbound and outbound shipments, tilt-tray sorters, high-speed unloading wheels, smart scanners, and security scanners.
The express carrier is also pushing into Latin America and the Middle East, with footholds in Saudi Arabia, United Arab Emirates, Egypt, Mexico and Brazil.
Click here for more FreightWaves/American Shipper stories by Eric Kulisch.
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