Ali's Financial Report: Cainiao's single-quarter revenue up 30% year-on-year, expanding global logistics lead

On May 14, Alibaba Group announced its FY2024 fourth quarter and full year results. In 2024, Cainiao's single-quarter revenue in January-March was RMB 24.557 billion, up 30 per cent year-on-year, and FY2024 revenue grew 28 per cent year-on-year to RMB 99.02 billion. Thanks to the strong support of globalised network and the expansion of leading position in cross-border E-commerce logistics, Cainiao continued to grow strongly.

According to the financial report, this quarter, Cainiao expanded the "Priority" logistics of AliExpress to 14 countries and further increased the investment in overseas local logistics network, reflecting Cainiao's determination and confidence in the future strategic construction of logistics.