J&T Express leans on Southeast Asia as China parcel growth cools

J&T Express reported strong first-half 2026 results, with revenue increasing 39.5 per cent year-on-year to US$7.67 billion and express delivery revenue rising 39.6 per cent to US$7.46 billion. Adjusted net profit more than doubled to US$350.6 million, and adjusted EBIT climbed 121.7 per cent to US$433.6 million. However, the company's growth is no longer primarily coming from China, its largest market by parcel volume.

While China still accounts for two-thirds of J&T's global parcel volume, its growth slowed to 9.6 per cent year-on-year, compared to a 71.2 per cent jump in Southeast Asia and a 119.9 per cent increase in other markets, mainly Latin America and the Middle East. The company's revenue per parcel also grew faster than its parcel volume, raising questions about the balance between investor returns and long-term network investment.

Brief written by urgent.news from e27's own syndicated text. Machine-written — may contain errors; check the original before relying on it.