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Jayud Global Logistics Partners with Leading Southeast Asian E-commerce Provider Lazbao Group
Agreement to Expand into the Fastest Growing E-commerce Market in the World SHENZHEN, China, July 23, 2024 (GLOBE NEWSWIRE) -- Jayud Global Logistics Limited
About this update from Jayud Global Logistics Limited
[{"type":"text","content":"Agreement to Expand into the Fastest Growing E-commerce Market in the World SHENZHEN, China, July 23, 2024 (GLOBE NEWSWIRE) -- Jayud Global Logistics Limited (NASDAQ: JYD) (\"Jayud\" or the \"Company\"), a leading end-to-end supply chain solution provider based in Shenzhen, specializing in cross-border logistics, today announced a Strategic Cooperation Agreement (the “Agreement”) with Lazbao Group (“Lazbao”), a leading full-service e-commerce logistics service provider in Southeast Asia. The Agreement aims to establish future chartered air services from Jayud across Lazbao's existing service areas in Southeast Asia. According to eMarketer, a market research company that provides insights and trends related to digital marketing, media, and commerce, the Southeast Asian market was the fastest-growing e-commerce market (20.6%) in the world in 2022. Lazbao Group provides e-commerce services for Southeast Asian online shopping businesses in Thailand, Vietnam, Indonesia, the Philippines, and Malaysia. Headquartered in Hangzhou, the e-commerce capital of China, Lazbao will leverage the Longgang e-Commerce Operation Center (the “Center”), which Jayud is an investor and the operator at Jayud’s new headquarters in the Longgang District. Importantly, the Center handles products under customs supervision code “9610,” “9710”“9810”which are suitable for small cross-border packets utilized by major e-commerce platforms such as Temu, Shein, and TikTok. The Agreement will expand Jayud’s air service network in Southeast Asia and is expected to drive down operating costs due to more stable order flow from Lazbao’s e-commerce platform. Combining Jayud’s logistics expertise and capabilities at the Center with Lazbao’s vast market presence will promote a more efficient and cost-effective logistics solution for the rapidly growing Southeast Asian e-commerce market. \"We are thrilled to announce this important partnership with Lazbao,\" said Xiaogang Geng, Chairman of the Board and CEO of Jayud. \"This collaboration marks a significant milestone in our strategic expansion into Southeast Asia, one of the world's most dynamic e-commerce regions. By leveraging Lazbao's extensive market reach and our cutting-edge logistics capabilities, we are poised to deliver unmatched value and efficiency to our customers.” About Jayud Global Logistics Limited Jayud Glo...