Best Inc Stock Price, News & Analysis

Doctor's Best Inc., a leader in nutritional supplements, has announced its membership with two major industry associations, the Council for Responsible Nutrition (CRN) and the United Natural Products Alliance (UNPA), as of April 17, 2023. This strategic move aims to enhance consumer access to quality supplements while promoting responsible supplementation practices. The CEO, Gale Bensussen, emphasized the commitment to consumer education and safety in dietary choices. Both organizations advocate for high standards in dietary supplements, ensuring compliance with federal regulations. Doctor's Best has over 200 products manufactured under strict quality controls in the U.S. The company is recognized for using scientifically proven ingredients, and its products are available at major retailers, including Amazon and Walmart.

BEST Inc. announced on March 23, 2023, a change in the ratio of its American Depositary Shares (ADS) to its Class A ordinary shares, effective on or about April 4, 2023. The new ADS Ratio will be one ADS to twenty Class A ordinary shares, equivalent to a one-for-four reverse ADS split. No fees will be charged to ADS holders for this exchange. Registered holders of certificated ADSs must surrender them for cancellation, while holders of uncertificated ADSs will see an automatic exchange. Although the company anticipates a proportional increase in ADS trading price, there is no guarantee it will exceed four times the previous price.

BEST has announced its unaudited financial results for Q4 and full-year 2022, along with a share repurchase program of up to US$20 million. For Q4 2022, revenue was RMB1,981.4 million, down from RMB2,724.9 million in Q4 2021, primarily due to the wind-down of BEST UCargo. Despite challenges, gross loss narrowed to RMB58.5 million, and net loss from continuing operations decreased to RMB365.8 million. The company anticipates total 2023 revenue between RMB9.0 billion and RMB9.5 billion. Improvements were noted in gross margins, with Freight's gross margin increasing by 10.4 percentage points, reflecting operational efficiencies.

BEST Inc. (NYSE: BEST) announced a share repurchase program authorized by its board of directors. The program allows for the repurchase of up to US$20 million worth of American Depositary Shares (ADSs) over the next 12 months. The repurchases will occur through open market transactions and other methods, based on market conditions. BEST plans to use its available working capital for funding. This initiative is expected to align with shareholder interests, as the company seeks to enhance shareholder value.

BEST Inc. (NYSE: BEST), a prominent integrated smart supply chain solutions provider in China and Southeast Asia, announced that it will release its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2022, after U.S. market closes on March 8, 2023.

The company will host a conference call at 8:00 PM U.S. Eastern Time on the same day to discuss the results. Participants can join via various dial-in numbers, and a replay will be available until March 15, 2023. For more details, visit the investor relations website.

BEST Inc. (NYSE: BEST) reported its third-quarter results for 2022, showing a revenue of RMB2,029.1 million (US$285.3 million), a 28.1% decline from the previous year. Despite a challenging macro environment due to COVID-19 restrictions, BEST Freight's revenue increased by 9.7% and the gross loss narrowed by 58.3% quarter-over-quarter. BEST Supply Chain Management achieved a revenue growth of 15.2% year-over-year. The company maintained a strong cash position of RMB3.3 billion, while net loss from continuing operations reached RMB378.9 million (US$53.3 million). No financial guidance was provided due to ongoing uncertainties.

BEST Inc. (NYSE: BEST) received a notification from the NYSE on October 19, 2022, regarding non-compliance with the exchange's price criteria, as its American Depositary Shares (ADSs) averaged below $1.00 over a 30-day trading period ending October 17, 2022. The company has a six-month 'Cure Period' to regain compliance, which includes achieving a closing price of at least $1.00 at month-end. BEST intends to take necessary actions to address this issue while maintaining compliance with other NYSE standards. The notification does not impact business operations or SEC reporting obligations.

BEST Inc. (NYSE: BEST), a premier integrated smart supply chain and logistics provider in China and Southeast Asia, is set to release its unaudited financial results for Q3 2022 on November 16, 2022. The announcement will be made after the U.S. market closes. Following this, a conference call is scheduled for 8:00 PM ET on the same day, where details regarding the financial results will be discussed. Investors can access a replay of the call until November 23, 2022. For further information, visit the investor relations website.

BEST Inc. (NYSE: BEST) announced a Repurchase Right for holders of its 1.75% Convertible Senior Notes due 2024, allowing them to sell back their notes for cash at 100% of the principal amount plus accrued interest. This offer, effective from September 1 to September 28, 2022, amounts to US$105.16 million if all notes are repurchased. Notably, October 1, 2022, is the designated interest payment date for holders as of September 15, 2022. This notification is informative and not a purchase offer.