Alibaba Group has recently released its financial results for the first quarter of fiscal year 2024, which ended on June 30th. The financial report shows that Cainiao Group's revenue in this quarter was RMB 23.164 billion, up 34% year-on-year. With its core logistics capabilities growing, Cainiao Group is accelerating the construction of a world-leading intelligent logistics network.

According to the aforementioned financial report, Cainiao's international express business accelerated in this quarter. Cainiao Group has optimized the process from first-kilometer collection, trunk transportation, overseas distribution to end-to-end delivery among global end-to-end logistics, supporting cross-border merchants by providing lower delivery costs and faster delivery speeds.

In cooperation with Global SmarTone, Cainiao Group has launched the "Global 5-Day Delivery" service to support SmarTone and other cross-border sellers by providing more competitive prices and better services. At present, the "X-Day Delivery" achievement rate of SmarTone Choice served by Cainiao Group has exceeded 90%.

In June this year, the number of Cainiao Group's overseas sorting centers reached 18. At present, Cainiao's cHub hub in Jakarta, Indonesia, has been officially opened, and its local distribution network in Spain covers more than 30 cities, and it has opened weekend delivery and same-city delivery services in core cities.

In China, Cainiao Group has prioritized the promotion of upgraded supply chain products and services in key consumer cities, bringing innovative service experiences to customers by creating standard products with refined tiers such as Preferred Warehouse & Distribution, Intelligent Warehouse & Distribution and Economic Warehouse & Distribution, as well as industry-specific solutions for fast-consumer goods, beauty care and bulky goods.

The "1212 Half-Day Delivery" service provided by the combination of Cainiao's own warehouses and Cainiao's own distribution has been carried out in eight important consumer cities including Shanghai, Guangzhou, Shenzhen, Hangzhou and Chengdu this quarter, and will gradually cover cities with a population of more than 10 million in China. The "Next Day Delivery" service, jointly developed by Cainiao's own warehouses and Shentong Express, has also been launched in the Yangtze River Delta and Pearl River Delta regions this quarter, with the average length of time from payment to signing for delivery taking consumers only 30.4 hours.

As of June, BMW Brilliance, Changan Automobile, BYD and nearly ten other vehicle manufacturers and parts manufacturers have cooperated with Cainiao, and the intelligent distribution project supported by Cainiao in Pakistan has recently been selected as a case of cooperation in the digital field between China and the SCO countries.