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百世 BEST INC . BEST Inc. Announces Unaudited Second Quarter 2021 Financial Results HANGZHOU , China , August 17 , 2021 BEST Inc. ( NYSE : BEST ) ( “ BEST " or the " Company " ) , a leading integrated smart supply chain solutions and logistics services provider in China , today announced its unaudited financial results for the quarter ended June 30 , 2021 . Johnny Chou , Founder , Chairman and Chief Executive Officer of BEST , commented , " In the second quarter we continued to press forward with our strategic refocusing plan and build on the encouraging signs we are seeing in network stability , service quality , and cost reduction , while adapting to the competitive industry landscape . In particular , our Express continued to make progress in unit cost reduction and witnessed significant network improvement with enhanced service quality . For Freight business , it continued its industry leading position and registered a net profit for the quarter with emphasis on our e - commerce capability . Supply Chain Management achieved profitability by serving high - margin customers and expanding cloud OFCs network supported by smart logistic management for better operating efficiency . Our Global business continued its growth momentum with parcel volume in Southeast Asia increasing 140.7 % year - over - year despite a resurgence of the COVID - 19 pandemic in the region . " " Given the supportive industry regulatory environment and continued strong e - commerce growth , we are optimistic that our strategic refocusing plan will position us to deliver improved operating and financial results in the coming quarters . " Gloria Fan , BEST's Chief Financial Officer , commented , " In the second quarter of 2021 , our revenue reached RMB7.4 billion . The slight revenue decline compared with the second quarter of 2020 was driven by lower average selling price in Express and Freight , partially offset by higher volume in both business units . Our net loss narrowed down to RMB467.5 million compared to the first quarter of 2021 , benefitting from our effective cost control across business units . As part of our refocusing plan , we continued to improve our balance sheet and streamline our asset base . From beginning of the year to the date of this press release , we have completed approximately RMB1.0 billion of financing and asset conversion . In addition , we are working on a pipeline of financing and strategic initiatives to further strengthen our balance sheet . Our balance of cash and cash equivalents , restricted cash and short - term investments were RMB3.4 billion at the end of the second quarter of 2021. Our strategic refocusing plan charts a clear path for us to achieve sustainable growth and profitability in the long run . " 1