BEST Inc. American Depositary Shares, each representing twenty (20) - BEST STOCK NEWS

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.

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.