NEWS WRAP: Lalatech posts double-digit growth as overseas momentum continues

The logistics services provider has relaunched its Hong Kong IPO, saying it plans to further expand in the intra-city freight market while also accelerating its global logistics drive

By Teri Yu

Logistics giant Lalatech Holdings Ltd. recorded double-digit growth for its revenue and key operational metrics in the first half of this year, according to its updated listing application filed on Oct. 27, showing its IPO is moving ahead. The company’s overseas business also continued to grow strongly, as it diversifies from its original bases in Hong Kong and the Chinese Mainland.

Lalatech operates under two logistics brands, Lalamove in Hong Kong and overseas markets, and Huolala on the Chinese Mainland. The company operates a marketplace model that connects merchants and drivers online by allowing a large pool of carriers to fulfill on-demand or pre-scheduled shipping orders. Its integrated “closed loop” platform manages the entire transaction process from order and payment to matching, tracking, and settlement. Its approach has made it the world’s largest logistics provider in terms of closed-loop freight gross transaction value (GTV), with a dominant 53.3% share of that market last year.

Its GTV rose 17.7% to $5.97 billion in the first half of the year from $5.07 billion in the same period of 2024, according to its new prospectus. Its globally fulfilled orders reached 455 million in the latest six-month period, a 34.3% jump from the 339 million orders a year earlier.

Lalamove was founded in 2013 in Hong Kong, and entered both the Southeast Asian and Chinese Mainland markets the next year. Since then it has been expanding in other overseas markets, including Latin America, Europe, the Middle East and African (EMEA). At the end of June, the company had operations in over 400 cities across 14 major global markets, replicating its model by leveraging its industry know-how. The company said Southeast Asia and Latin America will remain a major focus for future investment and greater market share, while it also intends to expand into other geographies such as the Middle East this year.

The global overseas intra-city road freight market was approximately three times the size of the Chinese Mainland’s in 2024 in terms of GTV. Southeast Asia and Latin America combined recorded GTV of $124.3 billion in 2024, which is expected to grow at an annual rate of 4.1% to $151.7 billion in 2029, according to the listing document.

Lalatech said that as an early mover in digitizing the road freight industry, its technology infrastructure allows it to also serve the inter-city freight segment in addition to its core intra-city focus. Since the launch of the inter-city freight services through June 30, 2025, more than 70% of first-time merchants were existing merchants using Lalatech’s intra-city freight services.

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