J&T Express names first China CEO after business restructuring

Photo credit: J&T Express

Logistics firm J&T Express has appointed a China CEO after separating operations in the country from its international business.

Liu Wei, a member of J&T Express’s founding team, will become its first China CEO, according to an article from state-owned media outlet The Paper. Liu will report directly to executive president Fan Suzhou, who focuses on managing the company’s overseas businesses.

According to a source speaking to The Paper, J&T Express’ overall business in China has been profitable since November of last year.

The source added that while China has the larger business volume, the logistics firm’s overseas business earns more money.

Tech in Asia has reached out to J&T Express for comments.

Founded in 2015 in Indonesia, J&T Express launched its services in China under the Jitu Express brand in 2020. In March 2023, the company acquired the parent of Chinese express delivery firm Fengwang Express.

In October 2023, it went public on the Hong Kong Stock Exchange and raised over US$451 million. At that time, the company said that it would use the new funds to expand its network and strengthen its sorting and warehouse capabilities.

In its prospectus, J&T Express reported a compound annual growth rate of 118% from 2020 to 2022. Its strong performance in China helped the company narrow adjusted EBITDA loss by 36% over the same period.

The company is now present in 13 countries, including those in the Middle East and Latin America.

See also: Key takeaways from J&T’s prospectus: rapid China growth offsets slowing SEA numbers