J&T Express-W (01519) has published its interim financial results for the six-month period ending June 30, 2026, showcasing robust growth across key metrics. The logistics company reported total revenue of $7.672 billion, representing a year-over-year increase of 39.5%, while adjusted net profit reached $351 million, up 124.3% compared to the same period last year. Basic earnings per share stood at 2.8 US cents for the first half of 2026.
During the reporting period, the company's overall revenue per parcel was $0.44, compared to $0.39 in the first half of 2025. This improvement in unit economics was primarily driven by the rapid expansion of e-commerce and express delivery industries in Southeast Asia and other markets, which increased the proportion of parcels with higher revenue per unit. Additionally, the company benefited from a more rational competitive environment in the Chinese market following the implementation of anti-involution policies. In response to these policy directives and evolving market dynamics, the company adjusted its pricing strategies across different regions to maintain competitive positioning.
In the first six months of 2026, J&T Express-W processed a total of 17.5 billion parcels, marking a 25.1% increase from the 13.99 billion parcels handled during the corresponding period in 2025. As of June 30, 2026, the company operated approximately 19,800 service points, 260 sorting centers equipped with 435 automated sorting lines, and maintained a fleet of roughly 13,380 line-haul vehicles, including about 8,500 company-owned vehicles.
Looking ahead, the company intends to capitalize on the significant historical opportunity presented by the growth of e-commerce express delivery. Management will implement targeted market strategies tailored to the specific needs and characteristics of each market, leveraging its existing market positions. These strategies include a dual-driver approach combining e-commerce express delivery with non-platform parcels to consolidate its leadership position in Southeast Asia, enhancing brand image and customer recognition in the Chinese market to optimize profitability, and seizing growth opportunities in rapidly expanding e-commerce regions such as Latin America by replicating its Southeast Asian development model. The company also plans to maintain strategic proactivity in exploring additional markets, including Europe, while empowering overseas operations with Chinese logistics expertise and refined management to achieve sustained cost reduction. Furthermore, J&T Express-W will continue to strengthen its brand development and actively expand its non-platform parcel business to continuously improve earnings quality.
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