HANGZHOU, China, Dec. 10, 2020 /PRNewswire/ -- BEST Inc. (NYSE:
BEST) ("BEST" or the "Company"), a leading integrated smart supply
chain solutions and logistics services provider in China, announced today that ahead of the
approaching holiday sales season, it will be opening a brand new
flagship sortation center in Vietnam and has already expanded its sortation
center in Bangkok, Thailand, all
in an effort to meet growing customer demand in Southeast Asia.
Located in Ho Chi Minh City,
Vietnam, the 35,000 square meter advanced sortation center
is anticipated to commence operations on December 17. With an approximate US$8 million investment, the facility
incorporates a wide range of cutting-edge sorting and scanning
technologies that enable increased sorting capacity and less manual
processing of shipments. The sortation center is capable of
handling up to one million parcels
per day, the highest parcel processing capacity in the country. The
site is expected to create over 1,000 full-time and part-time jobs
over the next two to three years.
Commenting on the new facility in Vietnam, Nelson
Wu, General Manager of BEST Inc. Vietnam stated, "Our flagship sortation center
in Ho Chi Minh City is the most
modern and efficient facility in Vietnam with industry-leading technology and
capacity. This state-of-the-art facility will help BEST ensure a
highly efficient delivery experience for consumers during peak
holiday season and further support merchants and brands as they
grow their e-commerce businesses."
Last month, BEST completed an expansion at its sortation center
in Bangkok, Thailand, to better
handle an increasing volume of parcels moving through the nation.
The project added 4,400 square meters of space to the existing
facility and equipped it with high-speed automated sorting lines
and leading dimension and weight scanning solutions, allowing the
facility to double its daily processing capacity to 400,000
Across Thailand and
Vietnam, the Company currently has
16 self-operated express hubs along with approximately 1,000
franchised last-mile service stations.
The new operations facilities come along with BEST's preparation
for the upcoming holiday season, when historical business and consumer demand
for parcel processing reaches its peak of the year. During the
recent Double 11 sales last month, BEST's express services in
Southeast Asia saw daily volume
triple the average amount.
Since 2019, BEST has established express delivery networks in
Thailand, Vietnam, Malaysia, Cambodia and Singapore, where it is seeing volumes surge
along with the rapid growth in e-commerce. In the third quarter,
the Company reported an eight-fold jump in packages in these
"Southeast Asia is our largest
international market and we plan to continue to invest in the
region with both rigor and determination," said Johnny Chou, Chairman and Chief Executive
Officer of BEST Inc. "With all of our recent roll-outs in
Southeast Asia, BEST aims to
provide retailers and merchants cost-effective solutions with
high-quality customer service by leveraging our technological
advantages and expertise from local partners and talent."
About BEST Inc.
BEST Inc. (NYSE: BEST) is a leading integrated smart supply
chain solutions and logistics services provider in China.
Through its proprietary technology platform and extensive networks,
BEST offers a comprehensive set of logistics and value-add
services, including express and freight delivery, supply chain
management and last-mile services, truckload service brokerage,
international logistics and financial services. BEST's mission is
to empower business and enrich life by leveraging technology and
business model innovation to create a smarter, more efficient
supply chain. For more information, please
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Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates" and similar statements. Among other things,
the business outlook and quotations from management in this
announcement, as well as BEST's strategic and operational plans,
contain forward-looking statements. BEST may also make written or
oral forward-looking statements in its periodic reports to the U.S.
Securities and Exchange Commission (the "SEC"), in its annual
report to shareholders, in press releases and other written
materials and in oral statements made by its officers, directors or
employees to third parties. Statements that are not historical
facts, including statements about BEST's beliefs and expectations,
are forward-looking statements. Forward-looking statements involve
inherent risks and uncertainties. A number of factors could cause
actual results to differ materially from those contained in any
forward-looking statement, including but not limited to the
following: BEST's goals and strategies; BEST's future business
development, results of operations and financial condition; BEST 's
ability to maintain and enhance its ecosystem; BEST 's ability to
continue to innovate, meet evolving market trends, adapt to
changing customer demands and maintain its culture of innovation;
fluctuations in general economic and business conditions in
China and other countries in which
BEST operates, and assumptions underlying or related to any of the
foregoing. Further information regarding these and other risks is
included in BEST's filings with the SEC. All information provided
in this press release and in the attachments is as of the date of
this press release, and BEST does not undertake any obligation to
update any forward-looking statement, except as required under
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