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 consideration of RMB130.00 million in cash. 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 Yimidida approved the overall merger and acquisition reorganization of Yimidida by J&T Express. In January 2022, the Group completed the relevant merger and acquisition reorganization and indirectly holds 1,735,266 preferred shares in J&T Express through Yimeter, a holding vehicle created by some 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 indirectly held amounted to 2,663,871 in total. The Group indirectly held 13,319,355 class B shares of J&T Express after a share split prior to the listing and issuance of the shares and the official listing of J&T Express on the Stock Exchange of Hong Kong on 27 October 2023. The stock code is 1519.HK.

On 4 March 2024, Yimeter distributed its class B shares of J&T Express to the Group by way of a dividend in specie and at the same time repurchased all of the shares of Yimeter held by the Group at par value. As at 30 June 2024, the Group directly held 13,319,355 class B shares of J&T Express, representing 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.