#sea

#sea

Sea's operating expenses also jumped by 28%, as its e-commerce arm Shopee tries to strengthen its competitive edge of rivals like Alibaba's Lazada and ByteDance's TikTok Shop. A key focus was strengthening Sea's logistics arm: "We are making our buyers happier while reducing [delivery] costs," Forrest Li, the company's chairman and CEO, said during an earnings briefing. Li pointed to Taiwan, where buyers prefer to pick up goods themselves instead of home delivery.

Sea's digital financial services arm, rebranded to Monee, achieved nearly 35% growth last year, reaching $2.4 billion, showcasing the growing demand for fintech in the region.