香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 公 告 全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責 任。 J&T Global Express Limited 極兔速遞環球有限公司 （於 開 曼 群 島 註 冊 成 立 以 不 同 投 票 權 控 制 的 有 限 責 任 公 司） （股 份 代 號：1519） 自願公告 2025年第三季度經營數據匯報 極兔速遞環球有限公司（「本公司」）董事會（「董事會」）謹此宣佈本公司及其附屬 公司及關聯併表實體截至2025年9月30日 止 季 度 之 業 務 及 運 營 情 況。 | | | | | | | | 至9月30日止三個月 截 | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | | | | 2025年 | 2024年 | 同比 | | | 東南亞 | （百 包裹量 | 萬 | 件） | | ...

Core Viewpoint - YTO Express is focusing on enhancing its core express delivery services while advancing its digitalization, intelligence, and internationalization strategies to achieve high-quality development and expand its logistics ecosystem [1][7]. Digitalization and Intelligence - The application of machine vision, edge computing, digital twin technology, and AI models is significantly improving YTO Express's operational efficiency and quality control [2][3]. - The company is implementing AI-driven tools like the "AI Assistant for Couriers," which saves couriers 30 to 60 minutes daily by optimizing delivery routes and tasks [3][4]. - Customer service enhancements include the deployment of intelligent arbitration systems, leading to a 16% reduction in repeat customer inquiries and improved service quality [4][5]. International Expansion - YTO Express has accelerated its internationalization efforts, including the opening of a new processing center in Melbourne and partnerships with companies like Xiaomi for cross-border logistics [5][6]. - The company has established over 150 cargo routes and operates a fleet of 13 aircraft, supporting its international logistics capabilities [6][8]. - YTO Express is expanding its presence in emerging markets and enhancing its supply chain logistics products across various sectors [6][8]. Business Performance - The express delivery volume is projected to grow from 16.543 billion pieces in 2021 to 26.573 billion pieces by 2024, with revenue increasing from 45.155 billion yuan to 69.033 billion yuan in the same period [8][9]. - As of mid-2025, the company has achieved a 21.79% year-on-year growth in express delivery volume and a 10.19% increase in revenue [8]. Quality Development Focus - YTO Express aims to enhance operational efficiency and service quality by focusing on timeliness, fulfillment quality, customer service, and precise marketing strategies [9].

Core Insights - YTO Express has achieved significant growth by enhancing its digital, intelligent, and international capabilities, focusing on core express services while exploring diversified strategic layouts [1][4][6] - The company is committed to deepening its core express business and advancing its digital transformation, utilizing advanced technologies such as AI and machine learning to improve operational efficiency and service quality [2][3] Digital Transformation - The application of machine vision, edge computing, digital twin technology, and AI models has significantly improved quality control, operational standardization, and logistics efficiency [1][2] - The introduction of the "AI Assistant" for couriers has optimized route planning and saved each courier 30 to 60 minutes of work daily [3] Operational Efficiency - In the first half of the year, YTO Express reduced its per-package transportation cost to 0.37 yuan, a decrease of 26% from 2021 [3] - The company has seen improvements in service metrics, with a decrease in overall delivery time by 8.58%, lost package rates down over 59%, and a 16% reduction in repeat customer inquiries [4] International Expansion - YTO Express has launched new international operations, including a processing center in Melbourne and partnerships with companies like Xiaomi for cross-border logistics [4][5] - The company has opened over 150 cargo routes and operates a fleet of 13 aircraft, enhancing its international logistics capabilities [5][6] Market Position and Growth - The express delivery volume is projected to grow from 16.543 billion packages in 2021 to 26.573 billion packages by 2024, with revenue increasing from 45.155 billion yuan to 69.033 billion yuan in the same period [6][7] - As of mid-2025, YTO Express has established a comprehensive service network covering all provinces and major cities in China, with a 99.93% coverage rate in county-level cities [6][7] Commitment to Quality Development - The company aims to enhance operational efficiency and service quality while focusing on timely delivery, customer service, and precise marketing strategies [7] - YTO Express is dedicated to achieving high-quality development that aligns with social progress and enhances brand value [7]

Core Insights - The rapid growth of the express delivery industry in China reflects the increasing vitality of the economy and the expansion of the consumer market, with express delivery volume surpassing 1.5 billion packages by October 11, 2023, 37 days ahead of the previous year [1][2] - The express delivery business revenue reached 958.37 billion yuan in the first eight months of 2023, marking a year-on-year increase of 9.2%, while the business volume grew by 17.8% [1] - The growth in express delivery volume indicates the potential of the domestic market being released, enhancing the role of consumption in economic growth [2] Industry Growth and Quality Improvement - The express delivery development index in China is projected to reach 424.9 by August 2025, reflecting a year-on-year increase of 4.4%, with both the development scale index and trend index also showing significant growth [3] - The ongoing "anti-involution" trend is improving the quality of development in the express delivery industry, as companies focus more on enhancing service capabilities rather than engaging in price wars [3][4] - The average price per delivery for YTO Express rose to 2.15 yuan in August, indicating a shift towards more sustainable profit margins and improved service quality [4] Market Dynamics and Future Outlook - The express delivery industry is expected to face new challenges with the upcoming "Double 11" shopping festival, but advancements in automation and smart technology are anticipated to enhance logistics service quality [5] - The integration of the express delivery industry with upstream and downstream sectors is becoming tighter, which will provide stronger logistical support for future economic development [5]

Core Viewpoint - Yunda Holdings announced plans to apply for the registration and issuance of short-term financing bonds not exceeding 2 billion yuan, with a phased issuance approach [2] Group 1 - The company will hold the 22nd meeting of the 8th Board of Directors and the 16th meeting of the 8th Supervisory Board on October 13, 2025, to review the proposal [2] - The registration for the issuance will be submitted to the National Association of Financial Market Institutional Investors [2] - The specific registration scale will depend on the approval from the association [2]

Core Viewpoint - Yunda Holdings (002120.SZ) plans to issue corporate bonds not exceeding RMB 2 billion to enhance financing channels, optimize debt structure, innovate financing methods, and reduce financing costs [1] Group 1: Financing Strategy - The company aims to broaden its financing channels to support operational development [1] - The issuance of bonds is subject to approval from the China Securities Regulatory Commission (CSRC) and will be presented at the company's first extraordinary general meeting in 2025 [1] - The timing of the bond issuance will depend on market interest rates and the company's funding needs [1]

Core Viewpoint - Yunda Holdings (002120.SZ) plans to issue super short-term financing bonds not exceeding 2 billion yuan to optimize its debt structure and broaden financing channels [1] Group 1 - The company aims to meet operational development needs through this financing initiative [1] - The issuance will be conducted in a phased manner, with the specific registration scale subject to approval by the China Interbank Market Dealers Association [1] - The financing is in accordance with relevant laws and regulations, including the Company Law of the People's Republic of China and the Management Measures for Non-Financial Enterprise Debt Financing Instruments in the Interbank Bond Market [1]

Core Viewpoint - The article emphasizes the importance of pursuing high-barrier jobs that require skill and effort, rather than settling for low-barrier jobs that offer immediate but limited financial rewards. It argues that low-barrier jobs lead to a cycle of low-level competition and hinder personal growth and development [6][12][62]. Group 1: Industry Insights - The delivery industry, including food delivery and ride-sharing, is becoming saturated, with over 10 million delivery workers competing for orders, resulting in diminishing returns for individual workers [6][10]. - The ease of entry into low-barrier jobs has led to an oversupply of workers, causing a significant disparity between effort and income [10][12]. - The article cites a survey where most participants chose a job with a lower salary but easier entry, highlighting a common mindset that prioritizes immediate income over long-term career growth [14][18]. Group 2: Personal Development - The narrative of an individual named Lao Yang illustrates how reliance on low-barrier jobs can lead to stagnation and anxiety, especially as living costs rise [32][34]. - The article discusses the importance of investing time in skill development rather than engaging in low-level, repetitive work that does not contribute to personal growth [50][60]. - A contrasting example is provided through Ruby, who chose to develop new skills and take on challenging projects, ultimately leading to career advancement and job security [46][48]. Group 3: Career Choices - The article highlights the difference between jobs that require minimal skills and those that demand expertise, suggesting that higher barriers to entry can lead to better job security and financial rewards [39][45]. - It emphasizes that individuals should focus on developing unique skills that set them apart in the job market, rather than competing in oversaturated fields [62][64]. - The narrative of Li Kuli demonstrates the long-term benefits of prioritizing skill acquisition over short-term financial gains from side jobs [56][58].

Core Viewpoint - The company plans to apply for the public issuance of corporate bonds not exceeding RMB 2 billion, pending approval from the China Securities Regulatory Commission and the company's shareholders meeting in 2025 [1] Group 1 - The bond issuance is intended to be registered with the Shenzhen Stock Exchange [1] - The issuance will be contingent on market interest rates and the company's funding needs at the time of issuance [1] - The company aims to enhance its financial flexibility through this bond issuance [1]

Core Viewpoint - Yunda Holdings (002120.SZ) plans to apply for the public issuance of corporate bonds not exceeding RMB 2 billion, pending approval from the China Securities Regulatory Commission and the Shenzhen Stock Exchange [1] Group 1: Corporate Actions - The company intends to issue corporate bonds up to RMB 2 billion [1] - The issuance is subject to approval at the company's first extraordinary general meeting in 2025 [1] - The timing of the bond issuance will depend on market interest rates and the company's funding needs [1]