J&t Global Express Limited · HKEX:1519
J&t Global Express — J&T Global Express Ltd B — H1 2025 Earnings Presentation
41 slides from J&t Global Express's earnings presentation, Aug 30, 2025
Slide 1: 1H2025 Results Presentation
1H2025 Results Presentation August 2025
Slide 2: Disclaimer
Disclaimer By attending the meeting where this presentation is made, or by reading the presentation materials and ancillary materials, you agree to be bound by the following limitations: • The information in this presentation has been prepared by representatives of J&T Global Express Limited (the “C
Slide 3: Contents
Contents 1 Business Overview 4 2 Segment Review 12 3 Group Financial Review 22 4 Growth Strategies 29 5 Appendix 31 3
Slide 4: Business Overview
Section 1 Business Overview
Slide 5: 1H2025 Results Highlights
1H2025 Results Highlights Group Highlights Segment Highlights 5.5 Bn USD +13% YoY 3.2 Bn +58% YoY 32.8% +5.4pcts YoY Group Revenue SEA Parcel Volume SEA Market Share First 156 Mn USD +147% YoY 235 Mn USD +74% YoY 1.6 Mn USD Breakeven New Markets Group Adj. Net Profit SEA Adj. EBIT Adj. EBITDA 1. Adj
Slide 6: Global Footprint
Global Footprint Express delivery service provider covering 13 countries with the leading position in Southeast Asia and China and successful expansion into Latin America and the Middle East China Full network coverage across the 239 13 countries sorting centers Egypt Mexico Thailand The Philippines
Slide 7: Segment Business at a Glance
Segment Business at a Glance SEA China New Markets Country Presence No. 1 for 6 consecutive years No. 5 Top(1) 5 Market Position (32.8% market share in 1H2025) (11.1% market share in 1H2025) (6.2% market share in 1H2025) 1H2025 Parcel Volume Growth Rate +58% +20% +22% Business Partners 1. In Mexico,
Slide 8: E-Commerce Drives Rapid Growth in Express Parcel Volumes
E-Commerce Drives Rapid Growth in Express Parcel Volumes E-commerce Retail Transaction Value Total Parcel Volume (Bn USD) (Bn) YoY CAGR YoY CAGR +29% +18% 601 +30% +15% 36 238 306 16 21 SEA 2024A 2025E 2029E 2024A 2025E 2029E 2,045 +7% 2,196 +7% 2,872 +17% +7% 264 175 204 China 2024A 2025E 2029E +24
Slide 9: Huge Potential in SEA and New Markets
Huge Potential in SEA and New Markets E-commerce Retail Population Nominal GDP per Capita Transaction Value Parcel Volume (Year 2024, Mn) (Year 2024, K USD) (Year 2024, Bn USD) （Year 2024, Piece） SEA 622 SEA 6 SEA 238 SEA 26 China 1,409 China 13 China 2,045 China 124 Latin America Latin America Lati
Slide 10: Continued to Gain Market Share with SEA Seeing Robust Growth
Continued to Gain Market Share with SEA Seeing Robust Growth Growth of Parcel Volume in 1H2025 Market Share + 5.4% 32.8% 25.4% 28.6% 27.4% 22.3% 22.5% SEA +58% ＞ +32% Company Industry 2021 2022 2023 2024 1H2024 1H2025 + 0.1% China +20% ＞ +19% 10.9% 11.6% 11.3% 11.0% 11.1% 7.7% Company Industry 2021
Slide 11: Quarterly Average Daily Parcel Volume
Quarterly Average Daily Parcel Volume 2024 2025 (mn) 19 17 SEA 15 11 11 12 (mn) 62 55 China 64 55 54 43 (mn) 1.0 0.9 New Markets 0.8 0.8 0.8 0.7 Q1 Q2 Q3 Q4 Business Overview 11
Slide 12: Segment Review
Section 2 Segment Review
Slide 13: SEA - Further consolidating the leading position with sustained high growth
SEA - Further consolidating the leading position with sustained high growth Parcel Volume Continues to Grow Leading Position in SEA Ranked First for 6 Consecutive Years (bn) + 41% Market Share in 1H2025 and YoY Change Y oY 4.6 8% 1H2025 32.8% +5 Y oY 3.2 3.2 J&T +5.4% 32.8% 1H2024 27.4% 2.0 Company
Slide 14: SEA - Quality Service with Continuous Cost Reduction
SEA - Quality Service with Continusous Cost Reduction Seize the Growth Opportunities of Reduce Sorting Cost Reduce Transportation Cost E-commerce Platforms Global E-commerce Customers • Learn from China's advanced equipment and • Build a highly efficient fleet equipment systems • Introduce Chinese s
Slide 15: SEA - Adj. EBIT per Parcel Remains Stable through Continuous Cost Optimization
SEA - Adj. EBIT per Parcel Remains Stable through Continuous Cost Optimiztion (US$ per parcel) (US$ per parcel) Unit Economics COGS Breakdown per Parcel 0.87 0.81 0.40 0.41 0.77 0.40 0.74 0.36 0.37 0.71 0.35 0.67 0.33 0.61 0.71 0.67 0.63 0.60 0.57 0.54 0.19 0.50 0.17 0.15 0.15 0.16 0.14 0.12 0.09 0.
Slide 16: China - Continue to Gain Market Share
China - Continue to Gain Market Share Parcel Volume Continues to Grow Top 5 Player Continue to Gain Market Share (bn) 29 % Market Share in 1H2025 and YoY Change + Y oY 20 1H2025 11.1% % Company E -0.6% 19.2% 15 + 20 Y oY 1H2024 11.0% 10.6 8.8 Company F +0.3% 15.5% 2024 11.3% 2023 10.6% Company G -0.
Slide 17: China - Enhance Customer Experience, Develop Branded Customers and Expand Coverage
China - Enhance Customer Experience, Develop Branded Customers and Expand the Breadth and Depth of Coverage Enhance Brand Image and Customer Establish Special Project to Develop Parcel Aggregation for Remote Experience Branded Customers Areas/Hong Kong • Enhance Marketing Abilities: Provide New Expa
Slide 18: China - Continue to Enhance Operational Optimization
China - Continue to Enhance Operational Optimization Build an Efficient Fleet Enhance the Efficiency of Outlets Upgrade Sorting Centers • Optimize Fleet Management: Invest in self-owned • Improve Automation level in Outlets: Support • Self-built Sorting Centers: Selectively self-built vehicles, incr
Slide 19: China - Rapid Decline in COGS Per Parcel Partially Offset Downward Pressure on Revenue
China - Rapid Decline in COGS Per Parcel Partially Offset Downward Pressure on Revenue (US$ per parcel) (US$ per parcel) Unit Economics COGS Breakdown per Parcel 0.34 0.34 0.34 0.34 0.32 0.31 0.21 0.30 0.20 0.20 0.20 0.19 0.34 0.34 0.33 0.18 0.18 0.30 0.32 0.29 0.28 0.007 (0.006) 0.007 0.008 0.001 (
Slide 20: New Markets - Growing Together with Partners
New Markets - Growing Together with Partners Markets Share Growth and Parcel Volume Continues to Grow Growing Together with Partners High-quality Service (mn) 2 2% Market Share in 1H2025 and YoY Change Y+ Global E-commerce Customers Yo 281 1H2025 6.2% 230 2 2% Y+ Yo 166 136 1H2024 6.1% 2024 6.1% 202
Slide 21: New Markets - Adj. EBITDA Turned Profitable for the First Time
New Markets - Adj. EBITDA Turned Profitable for the First Time (US$ per parcel) (US$ per parcel) Unit Economics COGS Breakdown per Parcel 2.14 2.18 2.05 2.01 1.38 1.35 1.42 1.20 1.94 1.88 1.97 1.92 1.02 1.41 0.84 (0.06) 0.01 (0.15) (0.24) (0.35) (0.17) (0.11) (0.27) (0.37) (0.48) 0.33 0.32 0.34 0.26
Slide 22: Group Financial Review
Section 3 Group Financial Review
Slide 23: Revenue Contribution from SEA and New Markets Continues to Grow
Revenue Contribution from SEA and New Markets Continues to Grow (US$ mn) 6% +1 Y Yo 10,259 SEA 8,849 New Markets 5,397 5,499 4,819 4,862 36% 32% China 4,030 29% 31% 37% 43% 33% 37% 31% 6% 5% 7% 34% 4% 3% Cross-border 63% 62% 63% 55% 57% 2023 2024 1H2023 2H2023 1H2024 2H2024 1H2025 Group Financial Re
Slide 24: Group and Segment Profit (1H2025 vs 1H2024)
Group and Segment Profit (1H2025 vs 1H2024) (US$ mn) 1H2025 1H2024 New Cross- Un- New Cross- Un- SEA China Group SEA China Group Markets border allocated Markets border allocated Revenue 1,970 3,137 362 29 - 5,499 1,520 2,998 292 52 - 4,862 Costs 1,619 2,997 319 25 - 4,960 1,233 2,784 257 52 - 4,326
Slide 25: Group and Segment Profit (FY2024 vs FY2023)
Group and Segment Profit (FY2024 vs FY2023) (US$ mn) FY2024 FY2023 New Cross- Un- New Cross- Un- SEA China Group SEA China Group Markets border allocated Markets border allocated Revenue 3,221 6,388 576 75 - 10,259 2,633 5,229 327 660 - 8,849 Costs 2,588 5,966 546 82 - 9,181 2,163 5,170 325 718 - 8,
Slide 26: Adj. SG&A and R&D Expenses
Adj. SG&A and R&D Expenses (1) Adj. SG&A Expenses R&D Expenses (US$ mn) (1) Adj. SG&A Adj. SG&A as % of Revenue (US$ mn) R&D R&D as % of Revenue 0.5% 0.5% 0.5% 0.5% 7.9% 7.2% 7.2% 5.7% 49 46 695 740 27 24 349 315 2023 2024 1H2024 1H2025 2023 2024 1H2024 1H2025 1. Adj SG&A = SG&A - SBC Group Financia
Slide 27: Increase Infrastructure Investment
Increase Infrastructure Investment Capex & Commitment D&A(1) (US$ mn) (US$ mn) New Markets Commitment Capex China SEA 637 610 81 481 477 135 30 33 340 267 280 233 240 246 109 555 15 19 475 81 139 142 230 172 165 153 73 78 2023 2024 1H2024 1H2025 2023 2024 1H2024 1H2025 1. Including ROU Group Financi
Slide 28: Positive Cash Flow and Healthy Cash Position
Positive Cash Flow and Healthy Cash Position Cash Flow Cash Position (US$ mn) (US$ mn) Cash and Cash Equivalents (1) Operating Cash Flow Free Cash Flow Borrowings 807 1,774 1,682 1,707 1,575 1,583 462 421 342 339 346 1,283 252 180 191 115 72 3 (133) (248) 2023 2024 1H2023 2H2023 1H2024 2H2024 1H2025
Slide 29: Growth Strategies
Section 4 Growth Strategies
Slide 30: Growth Strategies
Growth Strategies 1 Focus on Southeast Asia and China markets to consolidate our market position 2 1 Steadily enhance our market share in New Markets 3 1 Seize the significant growth opportunities as e-commerce platforms expand globally Refined management, continuous cost reduction and empower overs
Slide 31: Appendix
Appendix
Slide 32: Our Journey
Our Journey Included as a constituent of the Hong Kong Stock Connect and Expanded to Saudi FTSE Arabia, UAE, Mexico, Expanded to Vietnam Expanded to Brazil and Egypt China and the Group turned and Malaysia Singapore and China profitable for the first time 2015 2018 2019 2020 2021 2022 2023 2024 2025
Slide 33: Scalable Regional Sponsor Model that Promotes Rapid Penetration in All Markets
Scalable Regional Sponsor Model that Promotes Rapid Penetration in All Markets Overview of J&T’s Regional Sponsor Model Key Advantages of Regional Sponsor Model Country Headquarters • Formulate the overall operational strategy and execution plans Incentive arrangements with regional sponsors based o
Slide 34: The Digital and Intelligent System Empowers Global Operational Efficiency
The Digital and Intelligent System Empowers the Enhancement of Global Operational Efficiency J&T Digital Intelligence System Self-developed Digital Base Layer Digital Infrastructure Technology Platform Self-built Computing Power Global Unified Cloud + Third-party Cloud Services Empowering Operations
Slide 35: Environmental
Environmental E S G Green planing 01 Green transportation 02 Green packaging 03 With its visionary planning, J&T Express has factored in We have established a four-in-one green transportation We implement green logistics measures in every stage environmental elements when choosing the site of its mo
Slide 36: Social
Social E S G Support employee development 01 Ensure employee rights and benefits: Safeguard employee occupational health and safety, and create a diverse, equitable, and inclusive (DEI) work environment for employees worldwide. Number of safety training sessions 57,000+ In the field of safety manage
Slide 37: Governance
Governance E S G Strengthen corporate governance 01 ESG-related Honorary Awards ESG Management: Improve the global ESG management Percentage of female Number of person-times framework and strengthen the board's oversight of the receiving business ethics and directors anti-corruption training company
Slide 38: Consolidated Balance Sheets
CONSOLIDATED BALANCE SHEETS USD’000 2025/6/30 2024/12/31 USD’000 2025/6/30 2024/12/31 EQUITY Non-current assets Share capital 18 18 Investment properties 132 243 Share premium 9,061,736 9,061,736 Treasury shares (55,622) (19,420) Property, plant and equipment 1,448,958 1,385,538 Other reserves (105,
Slide 39: Consolidated Income Statements
CONSOLIDATED INCOME STATEMENTS USD’000 1H2025 1H2024 Revenue 5,498,732 4,861,696 Cost of revenue (4,960,128) (4,325,964) Gross profit 538,604 535,732 Selling, general and administrative expenses (383,273) (381,660) Research and development expenses (26,956) (23,565) Net impairment losses on financia
Slide 40: Consolidated Statement of Cash Flows
CONSOLIDATED STATEMENT OF CASH FLOWS USD’000 1H2025 1H2024 Cash flows generated from operating activities 421,112 345,631 Net cash used in investing activities (277,913) (266,311) Net cash used in from financing activities (82,884) (114,708) Net increase/(decrease) in cash and cash equivalents 60,31
Slide 41: a | OT xpress
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