Logistics Giants Ramp Up Flights from China; JD Express Reaches 70 Countries with African Market Entry
Latest Dynamics of Logistics & Supply Chains in China's eCom
Here’s our pick for last week’s news:
JD Express Reaches 70 Countries with African Market Entry
S.F. Holding Sees 21.74% Growth in International and Supply Chain Business
GoodCang Expands Partnership with TEMU
WINIT to Open Large-Scale, Automated Warehouses in L.A. and Kentucky by 2025
Lalamove Expands into EMEA with Istanbul Launch
J&T Express Breaks Record with 100 Million Daily Parcels During Double 11
Full Truck Alliance Q3 Revenue Rises 33.9% to $418.58M
Logistics Giants Ramp Up Flights from China
JD Express Reaches 70 Countries with African Market Entry
JD Express has expanded its international delivery service to 11 African countries, including Egypt, Kenya, and Nigeria, enabling local consumers to receive goods directly from China. The expansion brings JD Express' global reach to around 70 countries and regions.
Since this year, JD Logistics has deepened its footprint in the Middle East and North Africa. In June, it partnered with Saudi Electric Company to develop a regional supply chain network and upgrade the company's warehouses with automated systems.
S.F. Holding Sees 21.74% Growth in International and Supply Chain Business
S.F. Holding reported October 2024 earnings, with revenue rising 16.16% year-over-year to USD 3.33 billion. The express delivery segment saw a 14.26% increase, generating USD 2.44 billion from 1.207 billion parcels, a 26.92% jump. However, average revenue per parcel dropped 9.96% to USD 2.02.
International and supply chain operations performed well, fueled by high ocean freight rates, stable cargo volumes, and rising air freight demand, contributing USD 887.30 million in revenue, up 21.74% from last year.
GoodCang Expands Partnership with TEMU
GoodCang has expanded its partnership with TEMU, becoming one of the first warehouses to support TEMU's semi-managed European operations in October 2024, following its role in the U.S. semi-managed operations in May. The integration of GoodCang's system with TEMU's backend is now complete, allowing sellers to fulfill orders in Germany, France, Italy, Spain, and the Czech Republic (Germany and France are operational, with others launching soon).
In May, GoodCang opened its warehouse No.19 in the UK, and now operates 15 warehouses there, covering over 200,000 square meters. Across Europe, the company spans 14 e-commerce hubs with a total of more than 500,000 square meters of warehouse space.
WINIT to Open Large-Scale, Automated Warehouses in L.A. and Kentucky by 2025
WINIT's U.S. East Coast warehouse has completed SKU upgrades and is now operating at full capacity, achieving 94.28% shelving efficiency and a 99.63% order fulfillment rate in October. To meet rising cross-border e-commerce demand, the company plans to open new large-scale, automated warehouses in cities like Los Angeles and Kentucky in 2025.
Founded in 2012, WINIT has expanded to major markets including North America, Europe, the UK, and Australia, with 15 warehouses across 10 hubs and nearly 500,000 square meters of space.
Lalamove Expands into EMEA with Istanbul Launch
Lalamove has launched operations in Istanbul, marking its first move into the EMEA region. Founded in Hong Kong in 2013, the company expanded rapidly, entering mainland China and Southeast Asia in 2014 and Latin America by 2019. Today, it operates in 13 markets across Asia, Latin America, and EMEA. While road freight remains its core business, Lalamove offers a variety of services including intra-city and cross-city logistics, enterprise solutions, moving, less-than-truckload freight, errands, vehicle leasing, and after-sales services.
In H1 2024, Lalamove processed over 338 million orders, with global transactions totaling $4.99 billion. Revenue surged from $845 million in 2021 to $1.33 billion in 2023. In the first half of 2024, revenue grew 18.2% YoY to $709 million, with adjusted net profits reaching $213 million. Overseas markets accounted for 9.3% of total revenue, up slightly from last year.
J&T Express Breaks Record with 100 Million Daily Parcels During Double 11
J&T Express set a new record during the 2024 Double 11 shopping season, with daily global parcel volume surpassing 100 million. From October 20 to November 12, the company saw significant growth in key markets. In China, daily collections averaged nearly 66 million, a 25% increase from last year. In Southeast Asia, from November 1 to 11, daily collections exceeded 15 million parcels on average, a 73% year-on-year jump.
Full Truck Alliance Q3 Revenue Rises 33.9% to $418.58M
Full Truck Alliance reached new milestones in Q3 2024, posting USD 418.58 million in revenue, up 33.9% year-on-year. Non-GAAP operating profit nearly doubled to USD 121.57 million, while adjusted net profit grew 50.2% to USD 171.30 million. The platform processed 51.9 million orders, a 22.1% increase, and hit a record high of 2.84 million monthly active shippers, up 33.6%.
Listed on the NYSE in 2021, the company generated USD 929.71 million in revenue in 2022, with its core freight matching service contributing USD 781.90 million. The fastest-growing segment, transaction commissions, reached USD 198.93 million, up 107.4%, even amid a sluggish freight market.
As a leader in digital freight, Full Truck Alliance connects truck drivers with cargo owners, leveraging big data, cloud computing, and AI to streamline the logistics industry. Its platform enhances efficiency, optimizes resource allocation, and improves highway logistics, boosting the real economy.
Logistics Giants Ramp Up Flights from China
As air freight demand surges, logistics companies are increasing flights departing from China. In September, Martinair, Air France-KLM's cargo subsidiary, revamped its Latin America routes and launched a Hong Kong-to-Amsterdam flight—the first to China in nine years. DHL also announced an investment in eight new Boeing 777 freighters, anticipating high demand from China during the peak season. Similarly, UPS, which operates over 360 flights daily, revealed plans to add 200 more flights from Asia to Europe and the U.S. in Q4 to meet rising demand.