J&T Global Express (1519) Q2 2026 TU earnings summary

Executive summary

• Total parcel volume reached 9.18 billion in Q2 2026, up 24.2% year-over-year, surpassing 100 million parcels handled daily for the first time.

• Southeast Asia parcel volume grew 63.2% year-over-year to 2.75 billion, while Other regions (mainly Latin America and overseas) surged 136.5% to 211.3 million.

• China parcel volume increased 10.6% year-over-year to 6.2 billion, outperforming the domestic industry average.

• Company included in Hang Seng Index and other major indices in June 2026, enhancing visibility and attracting institutional investment.

• For H1 2026, total parcel volume was 17.5 billion, a 25.1% increase year-over-year.

Segment performance

• Southeast Asia: Growth driven by rising e-commerce penetration, local investments, promotional activities, and robust off-platform parcel development.

• China: Growth supported by enhanced logistics network, technology empowerment, and improved customer satisfaction; focus on sustainable, high-quality growth.

• Other markets: Accelerated growth due to low e-commerce penetration, high per capita GDP, and export of operational expertise; Latin America highlighted for rapid expansion and deepening partnerships.

• Non-China parcel volume share reached 35% in Q2 2026.

• For H1 2026, SEA parcel volume rose 71.2%, China 9.6%, and Other regions 119.9% year-over-year.

Significant events and developments

• Achieved milestone of processing over 100 million parcels daily, joining a select group of global couriers.

• Automation upgrades, such as the Tangerang, Indonesia project, resulted in ~40% shorter sorting time and ~150% higher peak sorting efficiency.

• Share buyback program expanded, with 179 million shares repurchased since IPO, totaling HKD 1.39 billion; new buyback authorization up to HKD 2 billion.

• Entered Colombia in Q2 and planning further expansion in Peru, Central America, and Europe, with asset-light strategies under consideration.

• Broader index inclusion in MSCI China, FTSE China 50, and Stock Connect, enhancing global visibility and investor base.