Jitu Express - W (01519) The global average daily order volume exceeds 80 million pieces, and the Chinese market outperforms the industry's growth rate

Global logistics service operator Jitu Express-W (01519) announced major operating data for the fourth quarter and full year of 2024. In the fourth quarter of 2024, the company achieved an overall package volume of 7.39 billion, an increase of 32.5% over the previous year, with an average daily package volume of 80.3 million pieces. In 2024, the company achieved an overall package volume of 24.65 billion, an increase of 31% over the previous year, with an average daily package volume of 67.3 million, an increase of 30.7% over the previous year.

The fourth quarter was the traditional e-commerce peak season for all major markets, and growth mainly came from Southeast Asia and China. In Southeast Asia, Jitu achieved 1.4 billion packages in the fourth quarter of 2024, an increase of 62.5% over the previous year; it achieved 4.56 billion packages for the whole year, an increase of 40.8% over the previous year, far higher than the market's expectations for package volume in the industry.

The Chinese market achieved 5.91 billion packages in the fourth quarter of 2024, an increase of 27.4% over the previous year; it achieved 19.8 billion packages for the whole year, an increase of 29.1% over the previous year, outperforming the industry growth rate of the previous 11 months and continuing to grow rapidly.

New markets (including the Middle East and Latin America) achieved 74.4 million packages in the fourth quarter of 2024, an increase of 0.1% year over year; the annual volume of parcels reached 280 million, an increase of 22.1% year on year.

The company will continue to invest in infrastructure construction in 2024, including building an efficient transport fleet and investing in automation equipment. By the end of 2024, the company operated 4,600 mainline vehicles in Southeast Asia, an increase of 1,300 vehicles year-on-year; the total number of mainline vehicles operated in China was 7,100, an increase of 900 over the previous year. The company's number of automated sorting lines in all markets reached 279, an increase of 45 over the previous year.

The company continues to strategically optimize network partners and outlets in various markets, and upgrade transit centers to improve operational efficiency. By the end of 2024, the company's total number of outlets was 19,100, and the number of transit centers was 238.

Zheng Shiqiang, chief financial officer of GeTu Express, said, “Getu Express achieved strong growth in the fourth quarter of 2024, thanks to the steady performance of the Southeast Asian and Chinese markets. Package volume in Southeast Asia increased by more than 60% in the fourth quarter. In addition to a lower base for the same period last year, it was also driven by strong shipments from major e-commerce customers during peak seasons such as the Double 11 Shopping Festival, and the company's continued expansion of order volume on non-e-commerce platforms. In China, we have grasped the opportunity of the express delivery industry's continued rapid growth, further consolidated our market position on major e-commerce platforms, and our strategic layout in reverse logistics and personal parts continued to achieve impressive results. We believe that with a strong network, excellent services and diversified growth strategies, Jitu will continue to benefit from the rapid growth of the e-commerce market in the future.”