Jitu (01519) Thailand has the largest market share. How can it achieve a profit sample in the “most competitive overseas market”?

The Zhitong Finance App learned that recently, J&T Rabbit Express (01519) successfully held an open day for investors in Bangkok, Thailand. The Group and Thai management gathered together with investment institutions and analysts from around the world. The number of offline participants at this open day reached 80, and more than 100 people were connected online simultaneously, all of which reached record highs in previous events, fully demonstrating that the capital market is paying close attention to the strategy and operating results of Jitu Southeast Asia.

Through keynote speeches, interactive Q&A, and field visits, the event comprehensively showcased Jitu's core capabilities for grounded roots and continuous innovation.

At the beginning of the event, Dylan Tey, Chief Financial Officer of J&T GeTu Express, reviewed the “Thailand Pact” with investors: more than two years ago, Getu chose Thailand, which had not yet been profitable, to allow the market to understand its strategic investment in the early stages of internationalization; today, Thailand is not only an important contributor to the group's profits, but is also viewed internally as an important case of breaking out of the “country with the fiercest overseas competition.”

Dylan Tey, Chief Financial Officer of J&T Rabbit Express, made a speech

Winsome Huo, CEO of Polar Rabbit Thailand, outlined the company's growth curve with detailed data in his keynote speech. According to Frost & Sullivan data, Jitu's business volume in the first half of this year already ranked first in the Thai open market, and was rated “No. 1 in service praise” by the research service agency Thailand Social Awards for three consecutive years. What is particularly critical is that the company has achieved profits in fierce market competition, indicating that Jitu's business model has been effectively verified in mature overseas markets.

Winsome Huo, CEO of Polar Rabbit Thailand, made a speech

Jitu's achievements in Thailand are attributed to the ultimate pursuit of the essence of the express delivery industry — service quality, scale, efficiency, and cost — and successfully integrated innovation with China's experience.

Infrastructure and automation first: Jitu is the only express delivery company in Thailand that has achieved full coverage of all transit center automation equipment. SPK, which was one of the places visited on the same day, is Jitu's largest sorting center in Thailand. The expansion was just completed this year. The peak daily processing capacity exceeds 5 million tickets. The automated cross-belt and sorting system it uses is in sync with the latest technology in China. At terminal outlets, Jitu pioneered the deployment of industrial-grade automated sorting equipment. It is expected that terminal automation capabilities will be upgraded throughout Thailand in 2026. This alone can significantly improve efficiency and reduce costs, and can also greatly improve service capabilities at the terminal network level.

Investors visited Jitu Thai overseas warehouses

Deeply localized operation: Currently, out of Jitu Thailand's more than 60,000 employees, there are only about 60 non-Thai personnel, and they have mastered Thai to varying degrees and can communicate with Thai colleagues; the team has vigorously trained Thai management and core employees, and has begun exporting talents to other countries and business divisions. This deep localization has not only reduced management costs, but also won recognition from employees and the community.

Cost control advantage: Polar Rabbit Thailand's single ticket cost has been reduced by more than 10% for many years, and the cost optimization rate is faster than the market price drop rate, thus ensuring continuous profit margin. This is due to continuous investment in various fields such as technology research and development, equipment upgrades, vehicle customization, and the popularization of automation.

Although the core focus is on e-commerce, Jitu Thailand is making every effort to expand its business boundaries and build a more balanced revenue structure. The “J&T Super” service launched by the company targets high-end commercial products and has successfully won many well-known corporate customers such as Apple iPhone Thailand, Chia Tai Group, 711 Convenience Store, and Adidas. At the same time, through channels such as a collection network naturally formed by couriers, cooperation with 711, and continuous development of its own post station brand, Jitu's Thai leaflet business is also growing rapidly.

In terms of warehousing and international business, Jitu has built a 70,000-square-meter overseas warehouse network in Bangkok, with a daily processing capacity of more than 200,000 orders and a daily TOB processing capacity of more than 4,000 cubic meters. With the time-efficiency advantage of “integrated warehousing and distribution” (which can be shortened by 6-8 hours), it has become an important hub connecting the Chinese supply chain with the Thai consumer market, and has set a new high order volume in the “Double 12” that has just ended.

During the Q&A session, investors focused on the long-term pattern of the Thai market and the sustainable advantages of Polar Rabbit. As the Thai express delivery market evolved from more than 10 competitors to the current situation, the management team analyzed that any new entrant would face extremely high financial barriers and a long construction cycle.

Investors visited the first terminal site equipped with intelligent sorting equipment in Southeast Asia

Regarding future growth drivers, discussions point to two major directions: first, based on the development curve of the Chinese market, Thailand has considerable potential in terms of e-commerce penetration rate and per capita package volume; second, the diversification of the business structure. The Thai Jitu team is focusing on exploring the expansion of the non-e-commerce parts market.

In response to the e-commerce development strategy, Dylan Tey reiterated Jitu's position as a “third-party service provider”, emphasizing that its service capabilities are open to all e-commerce platforms and that regional risks are spread through a global layout. What continues throughout the activity is the “corporate culture” and “internal drive” that Jitu emphasizes, that is, through a sense of mission and benefit-sharing mechanisms, it stimulates the continuous entrepreneurial enthusiasm of the global team.

In the afternoon of the same day, investors visited Jitu's largest transit center in Thailand, the first terminal branch equipped with intelligent sorting equipment in Southeast Asia, and a representative e-commerce seller's warehouse, and witnessed with their own eyes the accuracy and efficiency of Jitu's operating system.

Some investors and analysts pointed out that the e-commerce market in Southeast Asia, represented by Thailand, is still in a period of rapid growth and has great potential. With its large-scale network built in many countries and its ability to continue to reduce costs, Goku is at the center of this growth wave, and is expected to fully grasp the double opportunities brought by market expansion and structural upgrading.

Dylan Tey, Chief Financial Officer of J&T GeRabbit Express, said, “Achieving profit and leadership in the Thai market is a strong testament to our global strategy and local execution capabilities. As e-commerce continues to deepen in Southeast Asia and consumers' demand for logistics experience continues to rise, the express delivery industry will have more room for development. Jitu will continue to adhere to the concept of 'customer first, efficiency as the root', and flexibly reuse the successful experience and innovative model we have proven in Thailand to other markets to create more solid long-term value for customers and investors around the world.”