Shulou(Shulou.com)11/24 Report--

According to CTOnews.com news on March 9, Best Group today released unaudited financial results for the fourth quarter of 2022 and the whole year of 2022.

According to the financial report, the annual revenue of Best Group in 2022 was 7.74 billion yuan; the revenue in the fourth quarter was 1.98 billion yuan; the gross profit margin of Best Express increased by 10.4% compared with the same period last year; the gross profit margin of Best supply chain increased by 6.3% to 4.4%; and Best International's cross-border business volume surged 173% month-on-month.

Zhou Shaoning, chairman and CEO of Best Group, said that in 2023, the Group will continue to promote coordination among express, supply chain and international operations, strengthen the construction of B2B2C and cross-border business networks, and enhance sustainable growth and profitability. Express and the supply chain are expected to be profitable in the second quarter, with positive cash flow and strong profit growth throughout the year, and international operations will be profitable in some markets.

CTOnews.com learned from Best Group's financial data that the net loss of Best Group shrank sharply by 52.4% in the fourth quarter of 2022 compared with the same period last year. In 2022, Best Group bought back 1.4 billion yuan of convertible bonds. As of the end of the year, Best Group cash and cash equivalents, restricted cash, short-term investment is 3.2 billion yuan.

Best Express: in 2022, the annual revenue of Best Express was 4.89 billion yuan, and the net loss narrowed by 28.5%. The freight volume reached 8.7 million tons, of which e-commerce parts accounted for 21.2%. In the fourth quarter, Best Express received 1.3 billion yuan in operation and 2.2 million tons of freight. The net loss narrowed by 69.3% compared with the same period last year.

Best supply chain: in 2022, the annual revenue of Best supply chain was 1.82 billion yuan, the gross profit margin increased by 2.1% to 6.1%, and the volume of transportation increased by 53.6% compared with the same period last year. In the fourth quarter, Best supply chain revenue rose 2.7 per cent year-on-year to 500 million yuan, net loss narrowed 81.3 per cent year-on-year; transport volume increased 82.1 per cent year-on-year.

Best International: in 2022, Best International had annual revenue of 920 million yuan and wrapped 120 million pieces in Southeast Asia. In the fourth quarter, Best International had revenue of 200 million yuan and 25.4 million packages, up 13.7% and 20.3% in Singapore and Malaysia, respectively.

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