J&T Express (01519) recently hosted a successful investor open day in Bangkok, Thailand. The event brought together the group and its Thai management team with global investment institutions and analysts, attracting over 80 attendees on-site and more than 100 online participants—both record highs—demonstrating strong market interest in J&T’s Southeast Asia strategy and operational achievements.
The event featured keynote speeches, interactive Q&A sessions, and site visits, showcasing J&T’s localized innovation and core capabilities. CFO Dylan Tey reflected on the company’s journey, noting that Thailand—once a pre-IPO roadshow stop highlighting early-stage strategic investments—has now become a key profit contributor and a case study for thriving in fiercely competitive overseas markets.
Thailand CEO Winsome Huo presented data underscoring J&T’s growth. According to Frost & Sullivan, J&T ranked first in Thailand’s open market by volume in H1 2023 and has held the top spot in service satisfaction for three consecutive years per Thailand Social Awards. Crucially, the company has achieved profitability despite intense competition, validating its business model in mature overseas markets.
J&T’s success in Thailand stems from its relentless focus on service quality, scale, efficiency, and cost control, combined with innovative adaptations of its China experience. Key strategies include:
1. **Infrastructure and Automation Leadership**: J&T is Thailand’s only express company with full automation across all transit centers. Its SPK facility, the largest sorting hub, recently expanded to handle over 5 million parcels daily, deploying cutting-edge automated cross-belt sorting systems. By 2026, J&T aims to upgrade all last-mile sites with industrial-grade automation, boosting efficiency and reducing costs.
2. **Deep Localization**: Over 99% of J&T Thailand’s 60,000+ employees are Thai nationals, with cross-cultural training for expatriates. The company actively develops local talent for leadership roles, fostering community trust and lowering management costs.
3. **Cost Control**: J&T Thailand has reduced per-parcel costs by over 10% annually, outpacing market price declines, thanks to sustained investments in R&D, vehicle customization, and automation.
Beyond e-commerce, J&T is diversifying its revenue streams. Its premium "J&T Super" service has attracted clients like Apple, CP Group, 7-Eleven, and Adidas. The company also leverages its delivery network, 7-Eleven partnerships, and self-operated stations to grow its retail parcel business.
In warehousing, J&T’s 70,000 sqm Bangkok network handles 200,000+ B2C and 4,000+ cubic meters of B2B daily, serving brands like DJI and Haier with integrated "warehouse-to-delivery" solutions that cut lead times by 6–8 hours.
During Q&A, investors focused on Thailand’s long-term market dynamics and J&T’s sustainable edge. Management highlighted high capital barriers and lengthy setup times as deterrents for new entrants. Growth drivers include untapped e-commerce penetration (mirroring China’s trajectory) and non-e-commerce segment expansion.
CFO Dylan Tey reiterated J&T’s "third-party service provider" stance, serving all e-commerce platforms while mitigating regional risks through global diversification. The company also emphasized its culture of shared mission and incentives to drive entrepreneurial spirit.
Investors toured J&T’s largest transit center, Southeast Asia’s first smart-sorting last-mile site, and e-commerce warehouses, witnessing operational precision firsthand. Analysts noted Southeast Asia’s booming e-commerce potential, positioning J&T—with its scalable network and cost leadership—to capture growth and structural upgrades.
Dylan Tey concluded: "Thailand’s profitability and market leadership validate our global strategy and local execution. As Southeast Asia’s e-commerce deepens and logistics expectations rise, we’ll replicate Thailand’s proven model across markets, delivering long-term value for customers and investors."
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