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HANGZHOU, China, Dec. 11, 2020 — 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 parcels.
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 markets.
"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 visit: http://www.best-inc.com/en/.
Investor and Media Contacts
BEST Inc.
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Brandi Piacente
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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 applicable law.
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