PR Newswire
HANGZHOU, China, Sept. 28, 2017
HANGZHOU, China, Sept. 28, 2017 /PRNewswire/ -- BEST Inc.
(NYSE: BSTI) ("BEST" or the "Company"), a leading and fastest-growing Smart Supply Chain
service provider in China, announced today that in collaboration with its partner Cainiao Smart
Logistics Network Limited ("Cainiao"), BEST has added over 180,000 square meters of warehouse
space to further enhance the customer experience and to meet the rising demands for Alibaba Group Holding Limited (NYSE: BABA) ("Alibaba")'s upcoming Singles' Day in November. BEST is opening two new warehouses in
Changsha and Nanchang, and adding new warehouse spaces in
Chengdu, Hefei, Taiyuan and
Shanghai.
Both Alibaba and Cainiao were investors in BEST before the Company listed on the New York Stock Exchange on September 20, 2017. Alibaba, BEST's largest shareholder, invested an additional $100
million into the IPO, further strengthening its partnership with BEST and ongoing support for the growth of BEST's Smart
Supply Chain platform. BEST has developed extensive collaboration with Alibaba and Cainiao in exploring seamless
online-and-offline logistics service supporting the New Retail Strategy and building a global logistics network. The Company is
also a key partner for Cainiao's services such as last mile delivery service Cainiao Guoguo, guaranteed delivery service Cainiao
Chengnuoda, and store-based shipping service Cainiao Mendianfahuo.
After the IPO, BEST expects to make investments for development and implementation of new
technologies. In order to improve operational efficiency and service quality, BEST will strengthen its technology infrastructure
in areas including network and routes optimization, automated sorting lines and cloud-based order fulfillment centers. BEST will
also introduce new services and provide more integrated and smart supply chain management solutions for the New Retail era.
About BEST Inc.
BEST is a leading and fastest-growing Smart Supply Chain service provider in China. Its
multi-sided platform combines technology, integrated logistics and supply chain, last-mile and value-added services. BEST's
logistics and supply chain services encompass B2B and B2C supply chain management, express and less-than-truckload delivery, as
well as cross-border supply chain management and a real-time bidding platform to source truckload capacity. BEST's last-mile
services include online merchandise sourcing and fulfillment, and store management for convenience stores and B2C services.
Contacts
For Investors:
+852 3611 2562
ir@best-inc.com
For Media :
Sard Verbinnen & Co
Bob Rendine or Rick Carew
+1 212 687 8080 / +852 3899 6630
BESTInc-SVC@sardverb.com
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SOURCE BEST Inc