China’s postal regulator has opened an investigation into J&T Express over failures in safety management, sending shares of the Hong Kong-listed courier down as much as 11 per cent on Thursday.The State Post Bureau said it had formally launched a case against J&T Express Co after multiple work process safety accidents occurred this year at enterprises using the J&T brand, business name and delivery waybills.After trading as high as HK$8.87 earlier in the day, the stock slid to HK$7.85 following the regulator’s statement, a drop of nearly 11.5 per cent, before trimming losses.The regulator said repeated inspections had uncovered safety hazards at operational sites and accused J&T of failing to adequately oversee safety management across related entities. It said the company had not implemented unified safety protection measures as required.J&T China, the group’s mainland business branch, said in a statement later on Thursday that it “sincerely accepted” the investigation and would fully cooperate with regulators. The company acknowledged the shortcomings in its oversight of some enterprises operating under the J&T brand and said it had established a special task force to conduct safety inspections and rectify risks.A 2021 file photo of a J&T Express service centre in Yiwu, Zhejiang province. Photo: SCMP“J&T China will take this investigation as a profound wake-up call, learn from this experience, and immediately rectify any issues identified, ensuring that rectification requirements are implemented effectively,” it stated.