BEST Inc. operates as a smart supply chain service provider in the People's Republic of China. Its proprietary technology platform BEST Cloud enables its ecosystem participants to operate their businesses through various SaaS-based applications. The company applies its technologies to a range of applications, such as network and route optimization, swap bodies, sorting line automation, smart warehouses, and store management. It offers integrated services and solutions across the supply chain, including warehouse management, order fulfillment, express delivery, freight, and other services for multinational and corporate customers, as well as small and medium enterprises. The company also provides express delivery services; and door-to-door integrated cross-border supply chain services to and from China, including international express, less-than-truckload, fulfillment, and freight forwarding through its network, and transportation and warehouse partners. In addition, it operates real-time bidding platform to source truckload capacity from independent transportation service providers and agents; and offers online merchandise sourcing and store management services for convenience stores, as well as B2C services, such as parcel pick-up and drop-off, and bill payment services. Further, BEST Inc. provides various value-added services, including customized financial services, including fleet and equipment leases; and centralized sourcing of products and services, such as bulk procurement of trucks and accessories. The company was founded in 2007 and is headquartered in Hangzhou, the People's Republic of China.
IPO Year: 2023
Exchange: NYSE
Website: best-inc.com
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HANGZHOU, China, March 7, 2025 /PRNewswire/ -- BEST Inc. (NYSE:BEST) ("BEST" or the "Company"), a leading integrated smart supply chain solutions and logistics services provider in China and Southeast Asia, today announced the completion of its merger (the "Merger") with Phoenix Global Partners, an exempted company with limited liability incorporated under the laws of the Cayman Islands ("Merger Sub"), pursuant to the previously announced agreement and plan of merger, dated as of June 19, 2024 (the "Merger Agreement"), among the Company, BEST Global Partners, an exempted company with limited liability incorporated under the laws of the Cayman Islands ("Parent") and Merger Sub. As a result of
HANGZHOU, China, Feb. 18, 2025 /PRNewswire/ -- BEST Inc. (NYSE:BEST) ("BEST" or the "Company"), a leading integrated smart supply chain solutions and logistics services provider in China and Southeast Asia, today announced that at an extraordinary general meeting of shareholders (the "EGM") held on February 18, 2025 (Beijing Time), the Company's shareholders voted in favor of, among other things, the proposal to authorize and approve the previously announced agreement and plan of merger (the "Merger Agreement"), dated as of June 19, 2024, among the Company, BEST Global Partners, an exempted company with limited liability incorporated under the laws of the Cayman Islands ("Parent") and Phoeni
HANGZHOU, China, Jan. 10, 2025 /PRNewswire/ -- BEST Inc. (NYSE:BEST) ("BEST" or the "Company"), a leading integrated smart supply chain solutions and logistics services provider in China and Southeast Asia, today announced that, on January 6, 2025, the Company received a notice from the New York Stock Exchange (the "NYSE") Regulation stating that it is not in compliance with the NYSE's continued listing requirements under the timely filing criteria pursuant to Section 802.01E of the NYSE Listed Company Manual (the "Continued Listing Criteria") as a result of the Company's failure to timely file its Form 6-K containing semi-annual financial information for the half year ended June 30, 2024 (t
JAKARTA, Indonesia, Aug. 29, 2024 /PRNewswire/ -- On August 29, BEST Inc. held an opening ceremony in North Jakarta, Indonesia, announcing the official launch of cross-border supply chain services and full-scenario, full-link SaaS solution services in Indonesia. This is another heavyweight market of BEST following investments in Thailand, Vietnam, Malaysia, Singapore, and the Philippines, marking another important step in BEST's strategic layout in Southeast Asia. With over ten years of innovation in technology and business models, BEST Inc., a leading provider of smart supply chain and logistics services in China and Southeast Asia, operates over 20,000 service outlets, over 400 cloud ware
HANGZHOU, China, June 20, 2024 /PRNewswire/ -- BEST Inc. (NYSE:BEST) ("BEST" or the "Company"), a leading integrated smart supply chain solutions and logistics services provider in China and Southeast Asia, today announced that it has entered into an Agreement and Plan of Merger (the "Merger Agreement") with BEST Global Partners, an exempted company with limited liability incorporated under the laws of the Cayman Islands ("Parent") and Phoenix Global Partners, an exempted company with limited liability incorporated under the laws of the Cayman Islands and a wholly-owned subsidiary of Parent ("Merger Sub"). Pursuant to the Merger Agreement, Merger Sub will merge with and into the Company, wit
HANGZHOU, China, June 6, 2024 /PRNewswire/ -- BEST Inc. (NYSE:BEST) ("BEST" or the "Company"), a leading integrated smart supply chain solutions and logistics services provider in China and Southeast Asia ("SEA"), today announced its unaudited financial results for the first quarter ended March 31, 2024. FINANCIAL HIGHLIGHTS (1) For the First Quarter Ended March 31, 2024:(2) Revenue was RMB1,942.0 million (US$269.0 million), compared to RMB1,715.3 million in the first quarter of 2023. The increase was primarily due to increased revenue of BEST Freight and BEST Global.Gross Profit was RMB55.2 million (US$7.6 million), compared to gross loss of RMB8.5 million in the first quarter of 2023. The
HANGZHOU, China, March 27, 2024 /PRNewswire/ -- BEST Inc. (NYSE:BEST) ("BEST" or the "Company"), a leading integrated smart supply chain solutions and logistics services provider in China and Southeast Asia ("SEA"), today announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2023. FINANCIAL HIGHLIGHTS (1) For the Fourth Quarter Ended December 31, 2023:(2) Revenue was RMB2,236.3 million (US$315.0 million), compared to RMB1,981.4 million in the fourth quarter of 2022. The increase was primarily due to increased revenue of BEST Freight and BEST Global.Gross Profit was RMB118.3 million (US$16.7 million), compared to gross loss of RMB58.5 million in
HANGZHOU, China, Nov. 23, 2023 /PRNewswire/ -- BEST Inc. (NYSE:BEST) ("BEST" or the "Company"), a leading integrated smart supply chain solutions and logistics services provider in China and Southeast Asia, today announced that the independent special committee (the "Special Committee") of the Company's board of directors (the "Board"), formed to evaluate and consider the previously announced preliminary non-binding proposal letter dated November 3, 2023 (the "Proposal"), has retained Kroll, LLC as its financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP as its U.S. legal counsel.
HANGZHOU, China, Nov. 22, 2023 /PRNewswire/ -- BEST Inc. (NYSE:BEST) ("BEST" or the "Company"), a leading integrated smart supply chain solutions and logistics services provider in China and Southeast Asia ("SEA"), today announced its unaudited financial results for the third quarter ended September 30, 2023. FINANCIAL HIGHLIGHTS[1] For the Third Quarter Ended September 30, 2023:[2] Revenue was RMB2,226.7 million (US$305.2 million), compared to RMB2,029.1 million in the third quarter of 2022. The increase was primarily due to increased revenue of BEST Freight and BEST Global.G
HANGZHOU, China, Nov. 14, 2023 /PRNewswire/ -- BEST Inc. (NYSE:BEST) ("BEST" or the "Company"), a leading integrated smart supply chain solutions and logistics services provider in China and Southeast Asia ("SEA"), today announced that it received a letter from the New York Stock Exchange (the "NYSE"), dated October 17, 2023, notifying the Company that it was not in compliance with applicable market capitalization and equity criteria (the "Market Cap and Equity Criteria") in the NYSE's continued listing standards because, as of October 16, 2023, the Company's (i) average total market capitalization was less than $50 million over a consecutive 30 trading-day period, and (ii) last reported sto
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HANGZHOU, China, Nov. 23, 2023 /PRNewswire/ -- BEST Inc. (NYSE:BEST) ("BEST" or the "Company"), a leading integrated smart supply chain solutions and logistics services provider in China and Southeast Asia, today announced that the independent special committee (the "Special Committee") of the Company's board of directors (the "Board"), formed to evaluate and consider the previously announced preliminary non-binding proposal letter dated November 3, 2023 (the "Proposal"), has retained Kroll, LLC as its financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP as its U.S. legal counsel.
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HANGZHOU, China, Aug. 23, 2023 /PRNewswire/ -- BEST Inc. (NYSE:BEST) ("BEST" or the "Company"), a leading integrated smart supply chain solutions and logistics services provider in China and Southeast Asia ("SEA"), today announced its unaudited financial results for the second quarter ended June 30, 2023. Johnny Chou, Founder, Chairman and CEO of BEST, commented, "We outperformed in the second quarter by achieving both top-line growth and bottom-line improvements. At the Group level, our gross margin turned positive to 4.2% for the quarter compared with negative 4.6% for the s
HANGZHOU, China, Aug. 9, 2023 /PRNewswire/ -- BEST Inc. (NYSE:BEST) ("BEST" or the "Company"), a leading integrated smart supply chain solutions and logistics services provider in China and Southeast Asia, today announced that it will release its unaudited financial results for the second quarter ended June 30, 2023, after the U.S. market closes on Wednesday, August 23, 2023. The Company will hold a conference call to discuss the financial results at 9:00pm U.S. Eastern Time on Wednesday, August 23, 2023, or 9:00am Beijing Time on Thursday, August 24, 2023. Participants may ac
The Company Plans to Reach Group Profitability by the End of 2023 HANGZHOU, China, May 30, 2023 /PRNewswire/ -- BEST Inc. (NYSE:BEST) ("BEST" or the "Company"), a leading integrated smart supply chain solutions and logistics services provider in China and Southeast Asia, today announced its unaudited financial results for the first quarter ended March 31, 2023. Johnny Chou, Founder, Chairman and CEO of BEST, commented, "We delivered exceptionally strong financial improvements in the first quarter of 2023 despite the traditionally slow first quarter and lingering impact from CO
HANGZHOU, China, May 17, 2023 /PRNewswire/ -- BEST Inc. (NYSE:BEST) ("BEST" or the "Company"), a leading integrated smart supply chain solutions and logistics services provider in China and Southeast Asia, today announced that it will release its unaudited financial results for the first quarter ended March 31, 2023, after the U.S. market closes on Tuesday, May 30, 2023. The Company will hold a conference call to discuss the financial results at 9:00pm U.S. Eastern Time on Tuesday, May 30, 2023, or 9:00am Beijing Time on Wednesday, May 31, 2023. Participants may access the call by dialling the following numbers: United States: +1-888-317-6003 Hong Kong: 800-963976 or +852-5808 1995 Mainlan
The Board Has Authorized a Share Repurchase Program HANGZHOU, China, March 8, 2023 /PRNewswire/ -- BEST Inc. (NYSE:BEST) ("BEST" or the "Company"), a leading integrated smart supply chain solutions and logistics services provider in China and Southeast Asia, today announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2022. The Company also announced that its board of directors has authorized a share repurchase program, under which the Company may repurchase up to US$20 million worth of its outstanding American Depositary Shares over the next 12 months. Johnny Chou, Founder, Chairman and CEO of BEST, commented, "2022 was a challenging year. The CO
HANGZHOU, China, Feb. 28, 2023 /PRNewswire/ -- BEST Inc. (NYSE:BEST) ("BEST" or the "Company"), a leading integrated smart supply chain solutions and logistics services provider in China and Southeast Asia, today announced that it will release its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2022, after the U.S. market closes on Wednesday, March 8, 2023. The Company will hold a conference call to discuss the financial results at 8:00pm U.S. Eastern Time on Wednesday, March 8, 2023, or 9:00am Beijing Time on Thursday, March 9, 2023. Participants may access the call by dialling the following numbers: United States: +1-888-317-6003 Hong Kong: 800-963976
HANGZHOU, China, Nov. 16, 2022 /PRNewswire/ -- BEST Inc. (NYSE:BEST) ("BEST" or the "Company"), a leading integrated smart supply chain solutions and logistics services provider in China and Southeast Asia ("SEA"), today announced its unaudited financial results for the third quarter ended September 30, 2022. Johnny Chou, Founder, Chairman and CEO of BEST, commented, "Ongoing COVID-19 pandemic-related restrictions continued to impact the macro environment in China and SEA, weighing heavily on the logistics industry. Amid the challenging landscape, we delivered good progress in
HANGZHOU, China, Nov. 7, 2022 /PRNewswire/ -- BEST Inc. (NYSE:BEST) ("BEST" or the "Company"), a leading integrated smart supply chain solutions and logistics services provider in China and Southeast Asia, today announced that it will release its unaudited financial results for the third quarter ended September 30, 2022, after the U.S. market closes on Wednesday, November 16, 2022. The Company will hold a conference call to discuss the financial results at 8:00pm U.S. Eastern Time on Wednesday, November 16, 2022, or 9:00am Beijing Time on Thursday, November 17, 2022. Participants may access the call by dialling the following numbers: United States: +1-888-317-6003 Hong Kong: 800-963976 or +
HANGZHOU, China, Aug. 17, 2022 /PRNewswire/ -- BEST Inc. (NYSE:BEST) ("BEST" or the "Company"), a leading integrated smart supply chain solutions and logistics services provider in China and Southeast Asia ("SEA"), today announced its unaudited financial results for the second quarter ended June 30, 2022. Johnny Chou, Founder, Chairman and CEO of BEST, commented, "The impact of the COVID-19 pandemic continued to weigh heavily on the overall economy growth in China and SEA. Despite these headwinds in the second quarter, BEST Supply Chain Management ("SCM") achieved profitabilit
HANGZHOU, China, July. 27, 2022 /PRNewswire/ -- BEST Inc. (NYSE:BEST) ("BEST" or the "Company"), a leading integrated smart supply chain solutions and logistics services provider in China and Southeast Asia, today announced that it will release its unaudited financial results for the second quarter ended June 30 2022, after the U.S. market closes on Wednesday, August 17, 2022. The Company will hold a conference call to discuss the financial results at 9:00pm U.S. Eastern Time on Wednesday, August 17, 2022, or 09:00am Beijing Time on Thursday, August 18, 2022. Participants may access the call by dialling the following numbers: United States: +1-888-317-6003 Hong Kong: 800-963976 or +852-5808