Best Inc Stock Price, News & Analysis

BEST Inc. (NYSE: BEST) announced the resignation of Mr. Jun Chen from its board of directors, effective February 17, 2022. Chen, nominated by Alibaba and Cainiao Smart Logistics, served since 2015. CEO Johnny Chou expressed gratitude for Chen's contributions. Concurrently, Ms. Xiao Hu has been appointed as an Alibaba Director. Hu, a managing director at Alibaba, brings extensive experience from her previous roles at Merrill Lynch and Citigroup. This transition may signify strategic shifts in BEST's leadership and influence from Alibaba.

BEST Inc. (NYSE: BEST), a leading integrated smart supply chain solutions and logistics services provider in China, will release its unaudited financial results for Q4 and full-year 2021 on March 8, 2022, post U.S. market closure. The conference call for discussing these results is scheduled at 8:00 PM EST on the same day. The company emphasizes its mission to enhance supply chain efficiency through technology and innovation. For more details, visit BEST's investor relations website.

BEST Inc. (NYSE: BEST), a leading integrated smart supply chain solutions provider in China, received a notification from the NYSE on January 5, 2022, indicating non-compliance with the exchange's price criteria. The average closing price of its American Depositary Shares (ADSs) fell below $1.00 for a consecutive 30-day trading period as of January 4, 2022. BEST has a six-month 'Cure Period' to rectify this issue and has notified the NYSE of its intent to comply. The ADSs will continue to trade during this period, while the company adheres to other listing standards.

BEST Inc. (NYSE: BEST) has successfully completed the sale of its express delivery business in China to J&T Express Co., Ltd. for approximately RMB6.8 billion (US$1.1 billion). This transaction, finalized on December 17, 2021, follows regulatory approval and is expected to significantly enhance BEST's balance sheet and profitability. CEO Johnny Chou stated this move allows the company to refocus on its core competencies in integrated supply chain, freight, and global logistics services, ultimately aiming to deliver enhanced value to customers and shareholders.

BEST Inc. reported a 14.6% decline in revenue for Q3 2021, totaling RMB 6.8 billion (US$1.06 billion). The decline was mainly driven by lower average selling prices in the Express and Freight segments, resulting in a gross loss of RMB 505.1 million (US$78.4 million). Despite challenges, BEST achieved a 78.7% year-over-year increase in parcel volume in Southeast Asia. The company anticipates strategic improvements and plans to enhance liquidity through a transaction with J&T Express to boost financial flexibility and profitability.

BEST Inc. (NYSE: BEST), a top integrated smart supply chain solutions and logistics provider in China, will announce its unaudited financial results for the third quarter ending September 30, 2021, on November 16, 2021, after U.S. market close. A conference call is scheduled for 8:00 PM ET the same day. BEST offers comprehensive logistics services, including express delivery and supply chain management. Investors can access the earnings release via the company's investor relations website before the call.

BEST Inc. (NYSE: BEST) announced the sale of its express delivery business in China to J&T Express for approximately RMB6.8 billion (US$1.1 billion). BEST expects to receive about RMB3.9 billion (US$0.6 billion) in cash from the transaction. This move is part of BEST's strategy to focus on its core competencies in supply chain management and logistics services, enhancing its balance sheet and improving profitability. The sale is subject to closing conditions and regulatory approvals, with an expected completion in Q1 2022.

BEST Inc. (NYSE: BEST) announced its 2021 annual general meeting (AGM) scheduled for October 20, 2021, at 10:00 a.m. Beijing time in Hangzhou, China. The meeting will not include any proposals for shareholder approval but will serve as a platform for discussions between shareholders and management. The record date to attend the AGM is set for September 17, 2021. Additionally, BEST has filed its annual report for the fiscal year ending December 31, 2020, accessible on both its investor relations website and the SEC's site.

BEST Inc. (NYSE: BEST) announced its Q2 2021 financial results, reporting revenue of RMB7.4 billion, a 5% year-over-year decline, primarily due to reduced average selling prices in its Express and Freight segments. The company reported a net loss of RMB467.5 million, compared to a net profit in the same quarter last year. Despite a dip in revenue, BEST's Freight business returned to profitability with a 2% revenue increase.

Management remains optimistic about future growth, highlighting a 140.7% increase in parcel volume in Southeast Asia and a strategic refocus aimed at improved profitability.