J&T: Highlights of IPO prospectus

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J&T Express, a leading ecommerce logistics company in Southeast Asia & China, filed its draft IPO prospectus to Hong Kong Stock Exchange on 16 June 2023


The Application Proof, as the substantially-complete draft IPO prospectus is called, gives a good glimpse into J&T’s business operations, financials, competitive standing and shareholders. The company subsequently needs to pass the hearing by HKEX, and go through a period of marketing, before the stock can start trading. This will usually take a few months.

In this document, we highlight a few key areas of the prospectus which we think are quite relevant to stakeholders of Southeast Asia’s ecommerce ecosystem.


Table of contents

  1. Revenue growth, 2020 – 2022
  2. Revenue contribution by region, 2020 – 2022
  3. Parcel volume delivered by region, 2020 – 2022
  4. Gross profit per parcel in each region, 2020 – 2022
  5. Market share in SEA vs China, 2022
  6. Top customers, 2020 – 2022
  7. Key shareholders
  8. J&T and its root in Oppo / BBK ecosystem