Best Inc. (BEST) is a successor in providing integrated supply chain technology solutions and logistics facilities. Via its exclusive technology and wide networks, the company delivers a complete set of logistics and value-added facilities, including delivery of freight, and international logistics services.
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BEST stock price in the regular trading session of March 18, 2022, soared by 73.5% to be $1.00. Its price dipped as of this writing in the premarket session of March 21, 2022, by 14.0%.
BEST: Key Financials
On March 8, 2022, BEST released its consolidated and unaudited fourth-quarter financials for the quarter ended December 31, 2021. Some important highlights are discussed below.
Total revenue in Q4 2021 was recorded to be RMB2,724.9 million versus the same period of 2020 when it was RMB3,420.5. The company noted a decline in its total revenue by 20.3% over the year.
Per-share diluted net earnings in Q4 2021 were RMB1,945.3 million or negative RMB1.81 versus the corresponding quarter of 2020 when the net loss was RMB630.1 million or negative RMB0.64 $3.5 million. The company’s net income inclined gradually over the year.
BEST: Events and Happenings
On February 22, 2022, BEST announced the resignation of Jun Chen from his role as the company’s director with effect from February 17, 2022. He was selected as a Director in Alibaba Group Holding Ltd.
On January 18, 2022, BEST updated on the receipt of notification from NYSE on January 5, regarding non-compliance with appropriate price criteria in its continued listing standards. The average closing price of its ADSs was lesser than per ADS price of $1.00 for 30 consecutive days.
On December 17, 2021, BEST reported the accomplishment of the sale of its express delivery enterprise to J&T Express Co. in China. The deal was finalized at an approximate enterprise value of RMB6.8 billion.
BEST stock is 7% up the year-to-date span as its stock position is improving with the company’s prior announcement of the conclusion of express delivery business in China. The current premarket stock position of the company is feeble as no official news is released on the website or no event is updated on the IR Calendar of the company. It is the likely result of shedding the previous trading session’s gain.