Alibaba Group has released its financial results for the third quarter of fiscal year 2024 ending December 31, 2023 . Among them, Cainiao Group's revenue for the quarter was RMB 28.476 billion, up 24% year-on-year.

According to the above financial report, cross-border logistics remains a strong growth driver for Cainiao. In the quarter, Cainiao's "Global 5-Day" international express delivery capacity covered two to 10 new countries, and orders realized strong triple-digit YoY growth. Benefiting from the economies of scale and cost optimization brought about by the refined operation of the trunk line and last-mile delivery, Cainiao's adjusted EBITA for the quarter was RMB 961 million, and its profitability continued to strengthen.

The relevant person in charge of Cainiao said that at present, cross-border e-commerce is striking in the global market in different modes, and platforms, brands and sellers have ushered in the era of comprehensive competition, and logistics fulfillment is crucial for them to establish a differentiated competitive advantage and improve delivery and service experience.

It is understood that Cainiao started to build a globalized intelligent logistics network seven years ago, and took the lead in the industry by launching the standard cross-border express service "5 USD 10 days to reach"; in September last year, the flagship product "Global 5 days to reach" jointly launched with SmarTone further expanded its leading position in the cross-border e-commerce logistics market. In September last year, Cainiao and SmarTone jointly launched the flagship product "Global 5-Day Delivery", further expanding its leading position in the cross-border e-commerce logistics market and effectively driving order growth. Among them, the "semi-trusted" service launched by Cainiao and SmarTone has emerged soon after the launch of a number of merchants with monthly sales orders exceeding ten thousand. It is understood that the service can help platform self-operated merchants in the same cost of cross-border small parcel logistics time limit of 9 days on average.

In addition, Cainiao is also accelerating the construction of overseas local self-built logistics while enhancing its end-to-end cross-border logistics capability this quarter. Taking Spain as an example, Cainiao's local self-built express network has covered 47 major regions, which can provide local merchants and Chinese cross-border merchants with cross-border parcels, local warehouses, landed distribution, same-city distribution and other logistics services.

Currently, Cainiao has also upgraded its logistics solutions for key countries and markets such as North America and Latin America. By entering the U.S. market, Cainiao Collective Transportation realizes the fastest 5-day air transport, the fastest 15-day sea transport, and supports the whole network of parcels with one key to collect and transport. Cainiao first China to Mexico, the opening of the international express charter flight route, also allows consumers in the country as soon as 10 days to receive packages from China.

In Hong Kong, China, Cainiao since the first to launch the "next day, late to the compensation" commitment, this quarter and the first to launch the App pickup function. As of the end of January 2024, there are more than 130 Cainiao pick-up points in various districts in Hong Kong to support the service. Relying on the digital intelligence provided by Cainiao, Hong Kong consumers can truly realize the parcel "pick up as you go". In addition, Cainiao has also added the Cainiao Self-Pickup Point return service on top of the original door-to-door pickup and return service, giving consumers more flexible options.

In addition, Cainiao's self-developed UHF RFID (ultra-high frequency radio frequency identification technology) product matrix and pallet four-way shuttle also gained further market recognition in this quarter, and automation-related businesses are accelerating their development in overseas markets.