Cainiao revenue up 26% YoY to $2.57b in Q2 FY23

Over 70% of its revenue was from external customers.

Cainiao Network, the logistics arm of Alibaba Group, posted a 26% year-on-year growth in revenue to $2.57b (RMB18.28b) in the second quarter of the financial year 2023 ending on 30 September.

In a statement, Cainiao said 73% of its revenue, before inter-segment elimination, was generated from external customers.

It added that the Cainiao Post network cover over 170,000 stations, increasing by more than 20% YoY to improve customer experience. Its stations in urban residential communities rose to over 116,000, of which more than 80,000 offer doorstep delivery service.

The company has also partnered with Shisheido subsidiary Aupres to launch a central distribution centre in North China this quarter. It also established its own team that provides same-day delivery and assembly services to 300 Chinese cities and suburbs.

Cainiao also established its own warehouses and consolidation distribution centres in key manufacturing hubs and regular designated delivery slots.

Aside from these, it also expanded its overseas distribution centres to 12 and rolled out self-operated logistics facilities in 16 countries as part of its globalisation efforts.

The logistics firm has also implemented internet-of-things technology in over 1,000 Post stations and tied up with 28 organisations on emergency logistics and launched digitalised transportation system for the improvement of overall efficiency during emergencies.