Home » Business » Alibaba Group’s Q1 Fiscal Year 2024 Financial Report Shows Rapid Growth of Cainiao Group’s Revenue and Logistics Services

Alibaba Group’s Q1 Fiscal Year 2024 Financial Report Shows Rapid Growth of Cainiao Group’s Revenue and Logistics Services

Yang Liang 2023-08-10 18:27:20

DoNews reported on August 10 that on the evening of August 10, Alibaba Group released its financial report for the first quarter of fiscal year 2024 ending on June 30. This is also the first financial report reflecting the progress of 1+6+N organizational transformation, with multiple business groups growing rapidly.

Among them, Cainiao Group’s revenue in this quarter was 23.164 billion yuan, a year-on-year increase of 34%. High-quality services coupled with technology-led operational optimization have improved Cainiao’s profitability.

With the continuous enhancement of core logistics capabilities, Cainiao is accelerating the construction of a world-leading smart logistics network. According to the financial report, Cainiao has optimized the process from first mile collection, mainline transportation, overseas distribution to terminal delivery in the global end-to-end logistics, and supports cross-border merchants by providing lower delivery costs and faster delivery speeds.

In China, Cainiao continues to expand value-added services to enhance consumer experience, giving priority to promoting upgraded supply chain products and services in key consumer cities, and consumers can enjoy time-guaranteed door-to-door delivery services.

In the supply chain services for merchants in the domestic market, Cainiao creates refined and layered standard products such as optimal warehouse distribution, smart warehouse distribution, and economic warehouse distribution, as well as targeted industry solutions such as fast-moving consumer goods, beauty care, and large-scale products. solution to bring innovative service experience.

Combining Cainiao’s self-operated warehouse and Cainiao’s self-operated distribution, the “1212 half-day delivery” provided broke through the timeliness limit of logistics products for warehouse-delivered packages in the industry. Launched in 8 important consumer cities, and will gradually cover domestic cities with a population of more than 10 million, the satisfaction of consumers who have used the service is far ahead of the industry.

The “next-day delivery” jointly created by Cainiao self-operated warehouses and STO Express provides a new service standard. It is the first to be launched in the Yangtze River Delta and Pearl River Delta this quarter. The average time for consumers from payment to receipt is only 30.4 hours. The service is expanding to other economic circles.

In the field of supply chain with complex and rapidly changing demands, Cainiao provides more flexible, technological and green solution options. Recently, a number of leading brand companies such as Nestle, Procter & Gamble, Unilever, Budweiser, Danone, L’Oreal, and Carlsberg have further deepened their supply chain cooperation with Cainiao.

In the global market, Cainiao International Express accelerated this quarter. In cooperation with AliExpress, Cainiao started the journey of “global 5-day delivery” to support AliExpress and other cross-border sellers by providing more competitive prices and better services. Cainiao’s AliExpress Choice “X-Day Delivery” fulfillment rate exceeds 90%, and is known and chosen by merchants due to its stability.

The service upgrade of international express delivery relies on long-term logistics capacity building. In June 2023, Cainiao will increase the operation of 3 international express sorting centers, bringing the number of Cainiao overseas sorting centers to 18.

At present, Cainiao’s cHub hub in Jakarta, Indonesia has also been officially launched. The local delivery network in Spain covers more than 30 cities, and opened weekend delivery and intra-city delivery services in core cities.

In terms of terminals, this quarter, Cainiao Station continued to advance around the service standard of “1 minute fast pick-up, self-service pick-up before 24:00”. As of June 30, the “busy status” and “fresh food reminder” functions have achieved nationwide coverage, and more than 36 million people check the “busy status” every day to arrange pickup plans in advance.

At the same time, the nighttime pick-up function has been piloted in 60 Cainiao stations across the country, and 13,000 Cainiao stations in more than 200 cities have opened the small YI self-check service to improve the efficiency of pickup.

While improving logistics service capabilities, Cainiao is also actively promoting logistics technology innovation and ESG practices. As of June, nearly ten OEMs and parts manufacturers, including BMW Brilliance, Changan Automobile, and BYD, have all cooperated with Cainiao. The smart distribution project supported by Cainiao in Pakistan has also recently been selected as a China-SCO national figure. Cooperation cases in the field.

At present, more than 30 brand companies have connected to Cainiao’s self-developed carbon asset management system. Nike, Radar, Xtep and other companies have launched green recycling cooperation with Cainiao. During the Conference of the Parties of the United Nations Environment Program held in Geneva, Switzerland in May this year, Cainiao was invited to participate and shared China’s experience in green logistics.

2023-08-10 10:27:20
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