**: Shanghai ** newspaper
On the evening of February 7, Alibaba released its results for the third quarter of fiscal year 2024 (October 1 to December 31, 2023). As "partners going overseas", Ali International Digital Business Group and Cainiao Group still have the most outstanding performance. Among them, Cainiao Group's revenue in the quarter increased by 24% year-on-year to 284RMB7.6 billion, mainly driven by revenue from cross-border logistics fulfillment solutions; During the same period, Cainiao benefited from economies of scale and cost optimization from refined operations in trunk lines and last-mile distribution, resulting in an adjusted EBITA of 9., a non-GAAP financial measure6.1 billion yuan, profitability continued to increase.
According to the financial report, cross-border logistics is still a strong growth driver for rookies. During the quarter, Cainiao's "Global 5-Day Delivery" international express delivery capacity covered two new countries to 10 countries, and orders achieved strong triple-digit sequential growth.
At present, cross-border e-commerce is attacking the global market with different models and layouts, and platforms, brands and sellers are ushering in an era of comprehensive competition.
As early as seven years ago, Cainiao set out to build a global smart logistics network, and took the lead in the industry to launch the standard cross-border express service "$5 10 delivery". In September 2023, Cainiao and AliExpress jointly launched the flagship product "Global 5-Day Delivery", during the "Double 11" promotion, "Black Friday", and Christmas season, the "Global 5-Day Delivery" international express service will have differentiated advantages in logistics timeliness and experience, escort cross-border merchants and promote the growth of single volume.
Thanks to the long-term investment in the global logistics layout, Cainiao has strongly supported the platform logistics performance of its partner AliExpress in the fully managed and semi-managed modes, helping it control costs and improve efficiency, ensure experience, and expand advantages.
Recently, Cainiao and AliExpress have fully launched the "semi-managed" business, which can help the platform self-operators increase the timeliness of cross-border small package logistics by an average of 9 days at the same cost. Soon after the launch of the service, a number of merchants with monthly sales orders of more than 10,000 have emerged.
According to the financial report, this quarter, while enhancing its end-to-end cross-border logistics capabilities, Cainiao is also accelerating the construction of overseas local self-built logistics. Taking Spain as an example, the local self-operated express delivery network has covered 47 major regions, providing local merchants and Chinese cross-border merchants with different logistics services such as cross-border parcels, local warehouse delivery, landing distribution, and intra-city distribution.
In some key markets, Cainiao is also continuing to upgrade its logistics solutions.
In North America, Cainiao Container Shipping officially entered the U.S. market, which can achieve the fastest 5-day delivery by air and 15 days by sea, and supports one-click consolidation of parcels on the whole network; In Latin America, Cainiao's first China-Mexico international express charter flight was launched, allowing Mexican consumers to receive parcels from China in as fast as 10 days.
At the same time, Cainiao continued to polish its core technology products, newly released its self-developed UHF RFID (ultra-high frequency radio frequency identification technology) product matrix, and its self-developed pallet four-piercing was recognized by the market, accelerating the development of overseas markets in its automation business.
Cainiao's layout in Hong Kong, China has also been at the forefront of the industry. Since taking the lead in launching the "next-day delivery, late arrival" commitment, Cainiao has taken the lead in launching app pickup in Hong Kong this quarter. As of the end of January 2024, more than 130 Cainiao pick-up points in various districts in Hong Kong have supported the service. Not only that, Cainiao has also added a rookie pick-up point return service on the basis of the original door-to-door pick-up and return service, giving consumers more flexible options.
In Chinese mainland, Cainiao continued to expand its quality logistics services, on the one hand, it fully supported the upgrade of Alibaba's ecological services, and the "1212 half-day delivery" jointly launched by Cainiao Preferred Warehouse Distribution and Tmall Supermarket opened 5 new cities this quarter (covering a total of 20 cities); At the same time, Cainiao Wrap cooperated with Taotian Group to further upgrade the 88VIP return and exchange rights.
On the other hand, in terms of serving external customers, Cainiao Express relies on the combination of self-operated vehicles and intelligent equipment to develop smart logistics solutions for large-scale sports events for the first time. Cainiao ** Chain continues to deepen cooperation with external key customers, cut into new vertical industries such as new energy vehicle batteries and chain food, and drive the revenue of ** chain.
Relying on the world's leading smart logistics network and digital intelligence advantages, Cainiao has recently reached in-depth cooperation with leading brands in chain catering, liquor, new energy vehicles and parts, photovoltaics, home decoration and other industries and tracks, including McDonald's China, Moutai Logistics, Dongfeng Honda, Tongwei, Lin's Home, etc.
Editor-in-charge: Jiang Yehuan Proofreader: Zhang Yutu Editor: Zhou Yang.