dagensfreespins| Jitu Middle East wins Yida's lead by Middle East consortium to increase capital in Saudi Arabia's local listing is put on the agenda
FAFP, May 8 (Editor Qi Ling) Jared T express reported a new development: tens of millions of US dollars of capital increase by Yi Da Capital and Middle East consortia has been successfully completed, injecting strong momentum for the continued expansion of extreme Rabbit in the Middle East.
According to Polar Rabbit, this round of funds will be further used to optimize and upgrade the Middle East and North Africa Market (MENA), including the United Arab Emirates and Saudi Arabia, and continue to "load" the international territory of Polar Rabbit.DagensfreespinsOn the other hand, we will continue to upgrade the Middle East localization strategy and devote ourselves to the development of the Middle East market.
Xiao Zhongqiu, head of the Middle East District of Polar Rabbit, said, "after more than two years of military training and fighting, we are fully prepared for the next stage of development, and will gradually open up more cooperation opportunities to strategic partners and investors."
The upgrading of the Middle East localization strategy of Polar Rabbit not only introduces the Middle East consortia, but also takes the listing on the Saudi Stock Exchange as the focus of strategic planning in the next stage.
October 2023, extreme Rabbit Express (01519DagensfreespinsHK) is listed on the Hong Kong Stock Exchange, raising HK $3.5 billion and currently has a total market capitalization of more than HK $60 billion.
Jerry Li, founder and managing partner of EDA Capital, pointed out, "Polar Rabbit is one of the most important investment projects for Yi Da and Yi Da's strategic partners and relevant management in Saudi Arabia. The close tracking over the past two years has also given us full confidence in the solid foundation laid by Polar Rabbit in the Middle East. Next, according to the development needs of polar rabbit, we will prepare enough food for it to further stabilize its market share.
Rapid "expanding territory" in the Middle East
Polar Rabbit has been in the Middle East since April 2021 and launched express network operations in the United Arab Emirates and Saudi Arabia in January 2022. In a short period of more than two years, in addition to penetrating the United Arab Emirates, extreme Rabbit Terminal Distribution has achieved 100% coverage in Saudi Arabia, successfully coping with the logistics peak of more than 100000 pieces in a single day.
"We have confirmed through a number of channels that Polar Rabbit ranked second in the industry in terms of orders in Saudi Arabia in February 2024, second only to Aramex, a local veteran company, and local customers accounted for more than 30 per cent," Yida said.
In fact, there have always been some problems in the Middle East express logistics industry, such as high proportion of COD, vague address information, high entry cost and high barriers to experience. After years of development, the Middle East express logistics industry has formed a clear competition pattern, non-head express logistics companies are difficult to participate in the local cross-border e-commerce business increment, small and medium-sized players with the rapid expansion of the rabbit has been gradually cleared.
"it can be said that the polar rabbit will only be more deeply bound to the Middle East, and development will only lead to higher quality." Xiao Zhongqiu is full of confidence in the upgrading of the Middle East localization strategy. He believes that from a larger pattern, the network system of the global development of Polar Rabbit will also fully bear the needs of the development of international trade in the Middle East and help the influence of international trade in the Middle East to cover a larger scope.
In Jerry Li's view, Polar Rabbit "Born to Be Global" has more unique advantages than other peer enterprises, and can migrate and replicate the rich experience accumulated around the world. At the same time, with the support of Yi Da Capital, which is rich in resources in the Middle East, Ji Rabbit has successfully broken down numerous barriers and "information gap" to go to sea, continued to delve into the localization strategy of the Middle East, and has a long-term vision and firm action.
Polar Rabbit Express started in Southeast Asia and currently spans 13 countries including Southeast Asia, China, the Middle East, North Africa and Latin America.
He said, "International vision, local research, and capital blessing are the secrets of the phased success of Polar Rabbit's Middle East localization strategy."