上半年包裹量近140亿件，“鲶鱼”极兔冲击快递业旧格局

Core Insights - J&T Express has rapidly established itself as a significant player in the domestic express delivery market in China, leveraging aggressive pricing strategies and strategic acquisitions to gain market share [2][3][4] Group 1: Company Performance - In Q2 2025, J&T Express achieved a package volume of approximately 7.39 billion, representing a year-on-year growth of 23.5%, with an average daily package volume of 81.2 million [2] - For the first half of 2025, the total package volume reached 13.99 billion, a year-on-year increase of 27%, with an average daily volume of 76.9 million [2] - In the Chinese market, J&T Express reported a package volume of 5.61 billion in Q2 2025, a 14.7% increase year-on-year, and a total of 10.6 billion packages in the first half, up 20% [4] Group 2: Market Strategy - J&T Express entered the Chinese market in 2020 and adopted a low-price strategy to penetrate the market dominated by established players [3] - The company has made two significant acquisitions: in 2021, it acquired the domestic express business of Best Express for approximately 6.8 billion RMB, and in 2023, it acquired Shenzhen Fengwang Information Technology Co., a subsidiary of SF Express [3][4] - The company emphasizes a long-term and healthy development strategy, optimizing customer structure and dynamically adjusting operational strategies to adapt to market changes [4] Group 3: International Expansion - In Southeast Asia, J&T Express reported a record growth in Q2 2025, with a package volume of approximately 1.69 billion, a year-on-year increase of 65.9% [6][9] - The company has expanded its service network in Southeast Asia, increasing the number of service points by 700 to 10,500 and adding 800 vehicles to its fleet [7] - J&T Express has also entered new markets, achieving a package volume of 89.4 million in Q2 2025, a 23.7% increase year-on-year, and plans to continue expanding its automated equipment in Latin America and other regions [8]