J&T Express Achieved 147.1% YoY Surge in Adjusted Net Profit for 1H2025

Southeast Asiamarket share soared 5.4 percentage points to 32.8%,

New Markets achieved positive Adjusted EBITDA for the first time

HONG KONG,Aug. 29, 2025/PRNewswire/ --J&T Global Express Limited("J&T Express"or"J&T"or"the Company", stock code: 01519.HK), a global logistics service provider, announced its Interim Results 2025 ("1H2025"or"the Period"). In 1H2025, J&T achieved a robust financial performance, driven by strong business growth and continuous operational optimization across its markets. Propelled by strong parcel volume growth, the revenue contribution fromSoutheast Asiaand New Markets saw a sustained uplift, bringing the Company's total revenue toUS$5.50 billion, a 13.1% increase year-on-year ("YoY"). Core express delivery services generatedUS$5.34 billionin revenue, representing a 12.7% YoY increase.

The Company's business indicators continued to improve, with net profit recorded atUS$89 million, a significant YoY surge of 186.6% fromUS$31 millionin the same period last year. Adjusted net profit reachedUS$156 million, a YoY increase of 147.1%. Adjusted EBITDA amounted toUS$436 million, up 24.2% YoY, while Adjusted EBIT grew by 65.4% YoY toUS$196 million, demonstrating the Company's strong and sustainable profitability.

In 1H2025, J&T's total parcel volume increased by 27.0% YoY to 13.99 billion, with continued market expansion across all regions. Specifically, parcel volume inSoutheast Asia("SEA") surged by 57.9% YoY to 3.23 billion, with market share significantly increasing to 32.8%. InChina, parcel volume grew by 20.0% YoY to 10.60 billion. New Markets (includingSaudi Arabia, the UAE,Mexico,Brazil, andEgypt) saw parcel volume increase by 21.7% YoY to 170 million.

Dylan Tey, Chief Financial Officer of J&T Express, commented:"In the first half of 2025, the Company achieved solid performance growth despite a changing macroeconomic environment. Both our total revenue and profitability saw significant improvements, benefiting from parcel volume growth and refined operations across our 13 markets. Our market leadership in SEA has been further consolidated, with both revenue and profitability achieving high-speed growth. InChina, despite intense price competition, we maintained steady parcel volume growth and business resilience through continuous cost optimization and service upgrades. Encouragingly, our New Markets successfully achieved a turnaround to positive Adjusted EBITDA, proving the effectiveness and sustainability of our globalization strategy."

Significant market share increase in SEA; non-platform business drives profit margin improvement

Leveraging its comprehensive logistics network, cost-effective services, and leading market position in SEA, J&T's business in the region continued its high-speed growth. In 1H2025, the Company's parcel volume in SEA grew by 57.9% YoY, and its market share increased by 5.4 percentage points from 27.4% in the same period last year to 32.8%, solidifying its top position in the industry for the sixth consecutive year. The Company continues to seize growth opportunities in e-commerce and social e-commerce while actively implementing a long-term strategy to expand its local brand and non-platform business in SEA countries. During the Period, parcels from non-platform customers grew significantly, positively impacting the Company's profits.

As regional e-commerce competition intensifies, platforms increasingly demanded optimized fulfillment costs. As an independent e-commerce enabler, J&T integrates order resources from multiple platforms, leverages economies of scale, and replicates advanced experience from theChinamarket to effectively reduce operational costs. The cost per parcel decreased by 16.7% YoY, enabling more competitive prices to customers and creating a virtuous cycle.

In 1H2025, J&T's revenue in SEA increased by 29.6% YoY toUS$1.97 billion. Adjusted EBITDA wasUS$310 million, a YoY increase of 50.5%; Adjusted EBIT wasUS$230 million, a YoY increase of 74.0%, showing a significant enhancement in profitability.

Continued profitability inChinamarket with improving customer structure

During the Period, J&T's market share inChinasteadily increased, with parcel volume growing by 20.0% YoY to 10.60 billion. By parcel volume, J&T's market share inChinagrew to 11.1%. The growth in parcel volume was mainly due to the Company deepening its cooperation with major e-commerce platforms, improving service quality to enhance customer stickiness, and actively exploring rural areas and agricultural support projects. The Company also collaborated with e-commerce platforms to provide parcel aggregation services inHong Kong, efficiently helping e-commerce platforms sell goods directly toHong Kongand expanding its business footprint.

In terms of customer structure, J&T actively cooperates with industrial clients, focusing on growing with high-quality customers. During the Period, the Company proactively replaced customers and introduced high-quality brand clients, resulting in a significant increase in parcel volume from brand clients. For example, J&T'sGuangzhoucloud warehouse successfully provided professional warehousing and customized logistics solutions for a major beauty client, helping it to accurately react to market challenges and explore new opportunities.

Amidst intense competition in the industry, the Company achieved significant cost optimization inChinathrough refined management in all operational links, enabling continued steady business growth. In 1H2025, the cost per parcel in theChinamarket decreased by 10.3% YoY, further narrowing the gap with leading peers. Effective cost control offset some of the pressure on revenue per parcel from market competition, maintaining business resilience. During the Period, revenue fromChinawas approximatelyUS$3.14 billion, a YoY increase of 4.6%; Adjusted EBITDA wasUS$160 million.

New Markets gradually adopt mature operating models, achieving positive EBITDA for the first time

J&T continues to cultivate its New Markets, achieving breakthroughs in both business scale and profitability. In the Period, parcel volume in the New Markets grew by 21.7% YoY. The Company continues to cooperate closely with global cross-border e-commerce platforms while actively expanding cooperation with local platforms. For instance, inMexicoandBrazil, the Company established a cooperation withMercado Libre, the largest e-commerce platform inLatin America, further broadening its business sources.

Benefiting from the operational experience accumulated in SEA andChina, the New Markets have seen rapid parcel volume growth and improved operational efficiency, replicating and localizing refined management models. Revenue from New Markets in the 1H2025 reachedUS$360 million, a YoY increase of 24.3%. During the Period, Adjusted EBITDA turned positive for the first time, recording a profit ofUS$1.569 million, compared to a loss ofUS$7.841 millionin the same period last year, marking a new stage of healthy development for the New Markets business.

Significant results from smart logistics deployment; increased investment in technology

J&T is committed to enhancing service experience and operational efficiency through technological innovation. As of30 June 2025, the Company had approximately 19,200 outlets, operated 239 sorting centers with 337 sets of automated sorting machines globally.

In theChinamarket, under the policy guidance of"anti-involution,"price competition in the industry is becoming more rational. At the same time, the Company is increasing its investment in technologies such as intelligent sorting and unmanned vehicles. The unmanned vehicle network has covered multiple provinces and cities inChina, with a total of 900 unmanned vehicles deployed across the network, aiming to improve quality, increase efficiency, and reduce costs. It is expected that with the combined effect of these favorable factors, the Company will achieve steady growth in the second half of the year.

Charles Hou, Group Vice President of J&T Express, stated:"In the first half of 2025, we achieved good Interim Results, once again proving that the Company's globalization strategy is continuously deepening and strengthening, and the organization's execution capabilities have been fully demonstrated. Our leading position inSoutheast Asiais more solid than ever, we have maintained growth and resilience amidst fierce competition in theChinamarket, and our New Markets have reached a turning point towards profitability. Looking ahead, we will continue to cultivate our markets, deepen refined management, and continuously invest in technology and innovation to enhance service experience and operational efficiency, creating greater value for our global customers and achieving the Company's long-term, sustainable development."

About J&T Express

J&T Express is a global logistics service provider with leading express delivery businesses inSoutheast AsiaandChina, the largest and fastest-growing market in the world. Founded in 2015, J&T Express'network spans thirteen countries, includingIndonesia,Vietnam,Malaysia,the Philippines,Thailand,Cambodia,Singapore,China,Saudi Arabia, the UAE,Mexico,BrazilandEgypt. Adhering to its"customer-oriented and efficiency-based"mission, J&T Express is committed to providing customers with integrated logistics solutions through intelligent infrastructure and digital logistics network, as part of its global strategy to connect the world with greater efficiency and bring logistical benefits to all.

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SOURCE J&T Express