On 30 November 2017, a wholly-owned subsidiary of the Company entered into a capital increment agreement with Yimidida, pursuant to which the Group, as one of the investors, agreed to subscribe for the shares newly issued by Yimidida at a cash consideration of RMB130.00 million. Yimidida is principally engaged in the operation of the less-than-truckload freight network and was jointly established by several regional leading less-than-truckload logistics enterprises. Yimidida, with the mode of direct operation in core areas and regional franchise, unified the branding, systems, clearing, services and management standards of its partners along the whole ecological chain, and rapidly established the country-wide less-than-truckload freight franchise network. Yimidida is an independent third party of the Group.

On 30 July 2021, the board of directors of Yimidida approved the overall merger and acquisition reorganisation of Yimidida by J&T Express. In January 2022, the Group completed the relevant merger and acquisition reorganisation and indirectly held 1,735,266 preferred shares in J&T Express through Yimeter, a holding company established by former shareholders of Yimidida.

In 2023, J&T Express successfully completed the round D of equity financing. The Group indirectly acquired 928,605 new preferred shares of J&T Express, with the number of shares of J&T Express indirectly held amounted to 2,663,871 in total. J&T Express conducted a share subdivision before its listing, and was officially listed on the Stock Exchange of Hong Kong on 27 October 2023. The Group indirectly held 13,319,355 Class B ordinary shares in J&T Express. The stock code is 1519.HK.

On 4 March 2024, Yimeter distributed to the Group its Class B ordinary shares in J&T Express by way of a dividend in specie and at the same time repurchased all of the shares in Yimeter held by the Group at par value. As at 31 December 2024, the Company directly held 13,319,355 Class B ordinary shares in J&T Express, owning approximately 0.15% of its issued share capital. The Company expects that with its strengths in overseas business deployment, J&T Express will further strengthen and optimize its network coverage, improve its service quality and enhance its brand image, as well as improve its financial performance rapidly through economies of scale.