Jayud Global Logistics to Provide Complete Supply Chain Solutions for iMile Within China
Advancing Cross-Border E-commerce Logistics in a Market with $3.9 Trillion GDP
SHENZHEN, China, Aug. 20, 2024 (GLOBE NEWSWIRE) -- Jayud Global Logistics Limited (NASDAQ:JYD) ("Jayud" or the "Company"), a leading end-to-end supply chain solution provider based in Shenzhen specializing in cross-border logistics, is pleased to announce a strategic partnership with iMile, a leader in logistics and last mile delivery services for emerging markets such as the United Arab Emirates and the Kingdom of Saudi Arabia. This collaboration is set to streamline logistics for iMile by providing comprehensive supply chain solutions across China, encompassing air, sea, land, and customs services.
MENA E-commerce: A Rapidly Expanding Frontier with an 11.5% CAGR
The Middle East and North Africa (MENA) region is experiencing rapid growth in e-commerce, with the market expected to nearly double by 2028 compared to 2023, boasting a compound annual growth rate (CAGR) of 11.5%. The region's combined GDP stands at US$3.9 trillion, highlighting its potential for substantial economic impact. Specifically, the UAE and Saudi Arabia are leading this growth, with the UAE's e-commerce revenue projected to reach US$11,782.3 million in 2023, surpassing that of Belgium, and Saudi Arabia expecting to increase its annual e-commerce revenue from US$8.53 billion in 2022 to US$20.01 billion by 2027.
Jayud will leverage its extensive logistics infrastructure and technological capabilities through this partnership to manage all logistical aspects of iMile's operations within China. This includes procurement, warehousing, inventory management, multimodal transportation solutions, and streamlined customs processes. The goal is to enhance iMile's operational efficiency and reduce delivery times for their Middle Eastern clientele engaging in commerce with Chinese markets. This initiative strengthens the commercial ties between China and the Middle East and supports the growing demands of the e-commerce sector by ensuring that goods move more swiftly and reliably across international borders.
"This partnership with iMile represents a significant milestone in our mission to connect and simplify supply chain operations for businesses across the globe," said Xiaogang Geng, Chairman of the Board and CEO of Jayud. "Given the projected growth of the e-commerce market in the MENA region, our collaboration is well positioned to support this expansion, providing scalable and efficient logistics solutions. iMile's strong presence in the Middle East, combined with our comprehensive logistics network in China, will provide unmatched efficiency and scalability to e-commerce platforms operating between these vibrant regions."
About Jayud Global Logistics Limited
Jayud Global Logistics Limited is one of the leading Shenzhen-based end-to-end supply chain solution providers in China, focusing on cross-border logistics services. Headquartered in Shenzhen, the Company benefits from the unique geographical advantages of providing a high degree of support for ocean, air, and overland logistics. The Company has established a global operation nexus featuring logistic facilities throughout major transportation hubs in China and globally, with footprints in 12 provinces in Mainland China and 16 countries across six continents. Jayud offers a comprehensive range of cross-border supply chain solution services, including freight forwarding, supply chain management, and other value-added services. With its strong service capabilities and research and development capabilities in proprietary IT systems, the Company provides customized and efficient logistics solutions and develops long-standing customer relationships. For more information, please visit the Company's website: https://ir.jayud.com.
Forward-Looking Statements
Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs, including the expectation that the Offering will be successfully completed. Investors can identify these forward-looking statements by words or phrases such as "may", "will", "expect", "anticipate", "aim", "estimate", "intend", "plan", "believe", "is/are likely to", "potential", "continue" or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the SEC.
For more information, please contact:
Jayud Global Logistics Limited
Investor Relations Department
Email: [email protected]
Investor Relations Contact:
Matthew Abenante, IRC
President
Strategic Investor Relations, LLC
Tel: 347-947-2093
Email: [email protected]
