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