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BEST Inc. (formerly listed on the NYSE under the symbol BEST) is described in its public announcements as an integrated smart supply chain solutions and logistics services provider in China and Southeast Asia. Company news has focused on its freight delivery, supply chain management, cross-border and global logistics services, all supported by a proprietary technology platform and extensive logistics networks.
News coverage for BEST Inc. has included regular financial results, where the company reported revenue and segment performance for BEST Freight, BEST Supply Chain Management and BEST Global. These updates have highlighted changes in freight volume, parcel volume in Southeast Asia, cross-border business activity and the cost structure of its logistics operations.
Other announcements have described BEST’s expansion and strategic moves in Southeast Asia, such as the launch of cross-border supply chain services and SaaS solution services in Indonesia and the development of logistics networks in markets like Thailand, Vietnam, Malaysia, Singapore and the Philippines. These releases provide context on the company’s regional logistics footprint and its focus on smart supply chain services.
A significant portion of recent news has also related to corporate and listing developments. BEST Inc. issued statements about receiving NYSE notices on continued listing standards, entering into an Agreement and Plan of Merger to pursue a going-private transaction, shareholder approval of the merger agreement and, ultimately, completion of the merger with Phoenix Global Partners and BEST Global Partners. Following that merger, the company reported that it became a wholly owned subsidiary of BEST Global Partners and ceased to be a publicly traded company, with steps initiated for suspension of trading, delisting and deregistration of its ADSs.
Investors and researchers reviewing BEST-related news can use this history to understand how the company described its logistics operations, regional strategy and transition from a listed issuer to a privately held company.
BEST Inc. (NYSE: BEST), a leading integrated smart supply chain solutions provider in China, will release its unaudited financial results for Q2 2021 on August 17, 2021, after U.S. market close. The conference call will occur at 9:00 PM ET the same day, providing insights into the company's performance and future outlook. Investors can access the results via BEST's investor relations page, along with a live and archived webcast of the call.
BEST Inc. has launched a full-chain direct logistics service enabling e-commerce consumers in Thailand, Vietnam, and Cambodia to ship parcels directly from China. This initiative, in partnership with Cainiao Smart Logistics Network, allows for various shipping methods, including land, sea, and air, ensuring efficient delivery. BEST has developed a robust logistics network in Southeast Asia, including 24 sortation centers and over 1,000 service stations. The company aims to enhance customer experience and support cross-border e-commerce growth in the region.
BEST Inc. reported a 29.9% increase in revenue to RMB6.5 billion for Q1 2021, driven by strong growth in its Freight and Supply Chain Management segments. Despite the revenue boost, the company faced a net loss of RMB604 million, although this was an improvement from the previous year's loss of RMB667 million. Parcel volume for Express surged 33.6%, and Freight volume grew 81%. BEST aims for a turnaround of its Express business within 6 to 9 months and anticipates full-year revenue between RMB34 billion and RMB36 billion.
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BEST Inc. (NYSE: BEST), a top integrated smart supply chain solutions provider in China, will release its unaudited financial results for Q1 2021 on June 8, 2021, after U.S. market close. A conference call will follow at 9:00 PM ET the same day to discuss the results. Investors can dial in using various numbers depending on their location. The replay will be available until June 15, 2021. BEST’s business focuses on leveraging technology for efficient supply chain solutions, including express delivery and international logistics.
BEST Inc. (NYSE: BEST) announced the filing of its annual report on Form 20-F for the fiscal year ending December 31, 2020, with the SEC on April 16, 2021. The report is accessible on the SEC website and the Company's investor relations site. BEST is a leading integrated smart supply chain solutions provider in China, utilizing technology to enhance logistics services, including express delivery and supply chain management. Shareholders can request a hard copy of the annual report, which includes audited financial statements, free of charge.
BEST Inc. (NYSE: BEST), a leading logistics services provider in China, has signed a strategic partnership with Sinolink Yongfu Asset Management. As part of this agreement, BEST sold RMB517 million in assets related to its B2C truck leasing business. This transaction aims to reinforce BEST's balance sheet, enhance liquidity, and allow a greater focus on its core logistics operations. CFO Gloria Fan emphasized that the move will optimize cash flow and resource allocation for future growth.
BEST Inc. (NYSE: BEST) reported its unaudited financial results for Q4 and FY 2020, revealing a revenue of RMB 9.3 billion, down 8.9% YoY, largely due to decreased average selling prices in its Express segment. Despite a net loss of RMB 492.9 million, BEST saw positive trends in its Express and Freight segments with net profitability in December and a 25.1% increase in Freight volume. The company anticipates revenue between RMB 34 billion and RMB 36 billion for FY 2021, as it continues to refocus and improve operational efficiencies.
BEST Inc. (NYSE: BEST), a major player in China's smart supply chain and logistics sector, will announce its unaudited financial results for Q4 and fiscal year 2020 on March 10, 2021, post U.S. market close. The company will hold a conference call at 9:00 PM ET on the same day to discuss these results. Investors and analysts can access the call using specific dialing numbers provided for various regions. Interested parties can visit BEST's investor relations website for additional information.
BEST Inc. (NYSE: BEST) has announced the opening of a new flagship sortation center in Ho Chi Minh City, Vietnam, set to begin operations on December 17. The $8 million facility will handle up to one million parcels daily, creating 1,000 jobs over the next few years. Additionally, BEST expanded its sortation facility in Bangkok, Thailand, doubling its processing capacity to 400,000 parcels a day. This expansion supports increasing demand in Southeast Asia, where BEST has seen an eight-fold growth in package volume.
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