Welcome to our dedicated page for Best news (Ticker: BEST), a resource for investors and traders seeking the latest updates and insights on Best stock.
BEST Inc (NYSE: BEST) delivers integrated smart supply chain solutions across China and Southeast Asia through its proprietary SaaS platforms and automated logistics networks. This news hub provides investors and industry professionals with essential updates on the company's technology deployments, strategic expansions, and operational milestones.
Access official press releases covering BEST's supply chain management innovations, cross-border logistics developments, and smart warehouse solutions. Our curated collection includes updates on earnings reports, partnership announcements, and market expansion initiatives in key regions like Indonesia.
Bookmark this page to stay informed about BEST's progress in merging physical operations with digital logistics tools, including real-time tracking systems and AI-driven route optimization technologies. Check regularly for verified updates on how the company continues redefining supply chain efficiency through automation and data analytics.
BEST Inc. (NYSE: BEST) has announced its 2022 annual general meeting (AGM) to be held on November 9, 2022, at 10:00 a.m. in Hangzhou, China. No proposals will be presented for shareholder approval; instead, the AGM will function as a forum for shareholder discussions with management. The record date for eligible shareholders is set for October 7, 2022. Additionally, BEST has filed its annual report on Form 20-F with the SEC, containing audited financial statements for the fiscal year ending December 31, 2021, available on its investor relations website.
BEST Inc. (NYSE: BEST) reported its Q2 2022 results, revealing a revenue of RMB1,926.4 million, down 37.7% year-over-year due to the winding down of its UCargo business and the impacts of COVID-19. Gross loss was RMB93.8 million, contrasting with a gross profit of RMB86.2 million in Q2 2021. The net loss from continuing operations widened to RMB337.1 million. Despite these setbacks, BEST Supply Chain Management achieved profitability, while BEST Freight's net loss narrowed significantly by RMB115.7 million. The company maintains a solid cash position of RMB4.4 billion, focusing on recovery and strategic refocusing.
BEST Inc. (NYSE: BEST), a leader in smart supply chain solutions in China and Southeast Asia, will release its unaudited financial results for Q2 2022 after U.S. markets close on August 17, 2022. A conference call to discuss the results is scheduled for 9:00 PM ET on the same day. Interested participants can join by dialing the provided numbers. An archived replay will be available until August 24, 2022. BEST aims to enhance supply chain efficiency through technology and innovation, focusing on logistics and value-added services.
BEST Inc. (NYSE: BEST), a leading supply chain solutions provider in China, announced on June 9, 2022, that it has regained compliance with the NYSE's continued listing standards. The NYSE notified BEST on June 2, 2022, that its average stock price had exceeded the $1 minimum requirement after a period of non-compliance due to low stock prices. On May 20, 2022, BEST executed a one-for-five reverse stock split to boost its stock price. This compliance regains stability for BEST's listing on the NYSE.
BEST Inc. (NYSE: BEST) reported a decline in Q1 2022 revenue to RMB 1,802.6 million (US$284.4 million), down 35.2% YOY, primarily due to winding down the UCargo business. Gross loss was RMB 76.8 million (US$12.1 million), compared to a profit last year. The company improved freight on-time delivery rates by 14% YOY and maintained a net cash position of RMB 1.5 billion. Despite these challenges, BEST aims to capture growth in an easing pandemic environment, focusing on technology-driven supply chain solutions.
BEST Inc. (NYSE: BEST), a leading smart supply chain solutions provider in China, will announce its Q1 2022 financial results on June 8, 2022, post U.S. market closure. A conference call to discuss these results is scheduled for 9:00 PM ET on the same day. Interested parties can access the call via multiple contact numbers or through BEST's investor relations website. The company aims to enhance supply chain efficiency through its innovative technology.
BEST Inc. (NYSE: BEST) announced the resignation of director Mark Qiu, effective May 6, 2022, due to personal reasons. Qiu has served since 2011 and will continue as a strategic advisor. The company appointed Ying Wu and Klaus Anker Petersen as independent directors. Wu will chair both the audit and compensation committees. With over 35 years of experience, Wu has managed approximately US$2 billion in assets and co-founded UTStarcom. Petersen brings over 20 years of experience in retail and e-commerce logistics. These appointments aim to enhance strategic oversight at BEST.
BEST Inc. (NYSE: BEST) announced a change in the ADS Ratio, moving from one ADS to one Class A ordinary share to one ADS for five Class A ordinary shares, effective around May 20, 2022. This adjustment functions as a one-for-five reverse share split for ADS holders, who will exchange five existing ADSs for one new ADS. The change will not affect the underlying Class A shares. While the ADS trading price is expected to increase proportionally, no assurance is given regarding its performance post-change.
BEST Inc. (NYSE: BEST), a prominent logistics services provider in China, has filed its annual Form 20-F report for the fiscal year ending December 31, 2021, with the SEC on April 18, 2022. The report provides audited consolidated financial statements and is accessible via the SEC's website and BEST’s investor relations site. Shareholders can request a hard copy of the report free of charge. This announcement includes forward-looking statements regarding the company’s strategies and market conditions.
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