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百世 BEST INC . BEST Inc. Announces Unaudited Third Quarter 2021 Financial Results HANGZHOU , China , November 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 September 30 , 2021 . -- Johnny Chou , Founder , Chairman and Chief Executive Officer of BEST , commented , " In the third quarter , we remained steadfast in driving the Company's realignment around our core competencies and unlocking value for our shareholders . As we proceed with our transaction with J & T Express Co. , Ltd. ( J & T Express China ) , we are excited about our roadmap ahead to deliver integrated supply chain , freight and global logistics services for our customers . " " Against a challenging backdrop with COVID - 19 flare ups , we continued to enhance Best Freight's business capabilities of serving e - commerce customers and leveraging synergies with our Supply Chain Management . Supply Chain Management further strengthened its operations by prioritizing higher margin customers , expanding the OFCs network and leveraging our technologies to deliver quality services . On the Global front , our cross - border and local business in the Southeast Asia region continued to press forward , achieving a 78.7 % year - over - year increase in parcel volume for the quarter despite the ongoing pandemic . " " Looking forward , we will continue to synergize among our business units in a strategic , value - creating way and further enhance our integrated logistic service offerings to capture the enormous growth opportunities from e - commerce and the booming demand for integrated supply chain services . " Gloria Fan , BEST's Chief Financial Officer , added , " Revenue for the quarter was RMB6.8 billion , a decrease of 14.6 % year over year , as market dynamics weighed on the volume and average selling price for Express and Freight . Our balance of cash and cash equivalents , restricted cash and short - term investments were RMB3.4 billion at the end of the third quarter of 2021. The strategic transaction with J & T Express China will significantly improve our liquidity and provide us with financial flexibility to reduce leverage and increase investments , laying a solid foundation for us to return to profitability and a growth trajectory . " FINANCIAL HIGHLIGHTS ( ¹ ) For the Quarter Ended September 30 , 2021 : ( ¹ ) All numbers presented have been rounded to the nearest integer , tenth , or hundredth , and year - over - year comparisons are based on figures before rounding . 1