Agreement to Expand into the Fastest Growing E-commerce Market in the World
SHENZHEN, China, July 23, 2024 (GLOBE NEWSWIRE) -- Jayud Global Logistics Limited (NASDAQ: JYD) ("Jayud" or the "Company"), a leading end-to-end supply chain solution provider based in Shenzhen, specializing in cross-border logistics, today announced a Strategic Cooperation Agreement (the “Agreement”) with Lazbao Group (“Lazbao”), a leading full-service e-commerce logistics service provider in Southeast Asia.
The Agreement aims to establish future chartered air services from Jayud across Lazbao's existing service areas in Southeast Asia. According to eMarketer, a market research company that provides insights and trends related to digital marketing, media, and commerce, the Southeast Asian market was the fastest-growing e-commerce market (20.6%) in the world in 2022.
Lazbao Group provides e-commerce services for Southeast Asian online shopping businesses in Thailand, Vietnam, Indonesia, the Philippines, and Malaysia. Headquartered in Hangzhou, the e-commerce capital of China, Lazbao will leverage the Longgang e-Commerce Operation Center (the “Center”), which Jayud is an investor and the operator at Jayud’s new headquarters in the Longgang District. Importantly, the Center handles products under customs supervision code “9610,” “9710”“9810”which are suitable for small cross-border packets utilized by major e-commerce platforms such as Temu, Shein, and TikTok.
The Agreement will expand Jayud’s air service network in Southeast Asia and is expected to drive down operating costs due to more stable order flow from Lazbao’s e-commerce platform. Combining Jayud’s logistics expertise and capabilities at the Center with Lazbao’s vast market presence will promote a more efficient and cost-effective logistics solution for the rapidly growing Southeast Asian e-commerce market.
"We are thrilled to announce this important partnership with Lazbao," said Xiaogang Geng, Chairman of the Board and CEO of Jayud. "This collaboration marks a significant milestone in our strategic expansion into Southeast Asia, one of the world's most dynamic e-commerce regions. By leveraging Lazbao's extensive market reach and our cutting-edge logistics capabilities, we are poised to deliver unmatched value and efficiency to our customers.”
About Jayud Global Logistics Limited
Jayud Global Logistics Limited is one of the leading Shenzhen-based end-to-end supply chain solution providers in China, focusing on cross-border logistics services. Headquartered in Shenzhen, the Company benefits from the unique geographical advantages of providing a high degree of support for ocean, air, and overland logistics. The Company has established a global operation nexus featuring logistic facilities throughout major transportation hubs in China and globally, with footprints in 12 provinces in Mainland China and 16 countries across six continents. Jayud offers a comprehensive range of cross-border supply chain solution services, including freight forwarding, supply chain management, and other value-added services. With its strong service capabilities and research and development capabilities in proprietary IT systems, the Company provides customized and efficient logistics solutions and develops long-standing customer relationships. For more information, please visit the Company’s website: https://ir.jayud.com.
Forward-Looking Statements
Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs, including the expectation that the Offering will be successfully completed. Investors can identify these forward-looking statements by words or phrases such as “may”, “will”, “expect”, “anticipate”, “aim”, “estimate”, “intend”, “plan”, “believe”, “is/are likely to”, “potential”, “continue” or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC.
For more information, please contact:
Jayud Global Logistics Limited
Investor Relations Department
Email: ir@jayud.com
Investor Relations Contact:
Matthew Abenante, IRC
President
Strategic Investor Relations, LLC
Tel: 347-947-2093
Email: matthew@strategic-ir.com
