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Private company

BEST Inc.

BEST Inc. is a trucking and courier services company based in Hangzhou, Cayman Islands.2

Last updated Oct 21, 2026.

Overview

$1.2BRevenue, fiscal 20233
-$114.7MNet income, fiscal 20233
  • IndustryTrucking & Courier Services (No Air)2
  • HeadquartersHangzhou, China2
  • Incorporated inCayman Islands4
  • Business address2/F, Block A, Huaxing Modern Industry, Park, No.18 Tangmiao Road, Xihu District, Hangzhou, Zhejiang Province, F4 3100134
  • Filer categoryNon-accelerated filer4
  • Legal formCorporation2
  • LEI529900DFGEHZGJ3B9M872
  • StatusActive2
  • LEI statusLapsed (not renewed)2
  • Registered addressc/o MAPLES CORPORATE SERVICES LIMITED, P.O. Box 309, Ugland House, South Church Street, KY1-1104 George Town, Cayman Islands2
  • Registered withGeneral Registry, 2059552

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The following diagram illustrates our corporate structure as of the date of this annual report. It omits certain entities that are immaterial to our results of operations, business and financial condition. Unless otherwise indicated, equity interests depicted in this diagram are held as to 100%.5 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2023

3.0%Gross margin3
-11.4%Operating margin3
-9.8%Net margin3
4.3%Revenue growth, 20233
-$95.0MFree cash flow3

Where the money goes

Where each dollar of revenue went, fiscal 2023

  • Cost of revenue97¢$1.1B
  • Research and development1¢$16.3M
  • Other costs1¢$9.7M
  • Interest1¢$9.1M
  • Income tax0¢$161.0K

Out of $1.2B in revenue.3 The company lost money this year.

Financial statements

Revenue678910113$1.2B in 2023−62% since 2017
0$2.0B$4.0B$6.0B2017: $3.1B$3.1B20172018: $4.1B$4.1B2018+32%2019: $5.1B$5.1B2019+24%2020: $4.6B$4.6B2020−9%2021: $1.8B$1.8B2021−61%2022: $1.1B$1.1B2022−37%2023: $1.2B$1.2B2023+4%
Gross profit678910113$35.3M in 2023−53% since 2017
-$100.0M0$100.0M$200.0M$300.0M2017: $74.6M$74.6M20172018: $209.6M$209.6M2018+181%2019: $281.4M$281.4M2019+34%2020: $36.5M$36.5M2020−87%2021: -$31.3M-$31.3M20212022: -$38.2M-$38.2M2022+22%2023: $35.3M$35.3M2023
Operating income678910113-$134.1M in 2023−32% since 2017
-$300.0M-$200.0M-$100.0M02017: -$196.2M-$196.2M20172018: -$95.7M-$95.7M2018−51%2019: -$46.8M-$46.8M2019−51%2020: -$259.5M-$259.5M2020+455%2021: -$229.6M-$229.6M2021−12%2022: -$206.8M-$206.8M2022−10%2023: -$134.1M-$134.1M2023−35%
Net income678910113-$114.7M in 2023−39% since 2017
-$400.0M-$300.0M-$200.0M-$100.0M0$100.0M2017: -$188.7M-$188.7M20172018: -$73.9M-$73.9M2018−61%2019: -$29.1M-$29.1M2019−61%2020: -$310.4M-$310.4M2020+968%2021: $41.1M$41.1M20212022: -$212.2M-$212.2M20222023: -$114.7M-$114.7M2023−46%
Fiscal year20162017201820192020202120222023
Revenue$3.1B6$4.1B7$5.1B8$4.6B9$1.8B10$1.1B11$1.2B3
Cost of revenue$3.0B6$3.9B7$4.8B8$4.6B9$1.8B10$1.2B11$1.1B3
Gross profit$74.6M6$209.6M7$281.4M8$36.5M9-$31.3M10-$38.2M11$35.3M3
Research and development$21.4M6$26.8M7$35.0M8$29.3M9$28.3M10$20.9M11$16.3M3
Operating expenses$198.3M10$168.6M11$169.3M3
Operating income-$196.2M6-$95.7M7-$46.8M8-$259.5M9-$229.6M10-$206.8M11-$134.1M3
Interest$7.2M6$10.9M7$11.4M8$26.8M9$22.4M10$12.9M11$9.1M3
Income before tax-$197.8M10-$212.3M11-$127.8M3
Income tax$1.5M6$1.7M7$2.6M8$3.4M9$502.0K10$74.0K11$161.0K3
Net income-$188.7M6-$73.9M7-$29.1M8-$310.4M9$41.1M10-$212.2M11-$114.7M3
Earnings per share-$1.276-$0.197-$0.078-$0.809$0.1110-$0.5411-$0.303
Earnings per share (diluted)-$1.276-$0.197-$0.078-$0.809$0.1110-$0.5411-$0.303

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Corporate structure

BEST Inc. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of BEST Inc.

  • Shao-Ning Johnny Chou Filed SCHEDULE 13D/A on BEST Inc., latest Mar 7, 2025 (7 filings since Jan 19, 2022)
  • Chi Sing Ho Filed SC 13G/A on BEST Inc., latest May 22, 2024
  • BJ Russell Holdings Ltd Filed SC 13G on BEST Inc., latest Jul 26, 2023
  • Florence Star Worldwide Ltd. Filed SC 13G/A on BEST Inc., latest Jul 26, 2023
  • BEST Inc. Hangzhou, China

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What BEST Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Operating-lease assets (leased space)$182.2M3 Dec 31, 2023$252.8M11 Dec 31, 2022−27.9%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$60.0M3 Dec 31, 2023$77.3M11 Dec 31, 2022−22.4%
Marketable securities, current$5.1M3 Dec 31, 2023$105.1M11 Dec 31, 2022−95.2%
Long-term investments$22.1M3 Dec 31, 2023$22.7M11 Dec 31, 2022−2.9%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$7.6M3 Dec 31, 2023$7.8M11 Dec 31, 2022−2.9%
Finite-lived intangibles, gross$27.5M3 Dec 31, 2023$23.3M11 Dec 31, 2022+17.9%
Accumulated amortization$14.4M3 Dec 31, 2023$12.4M11 Dec 31, 2022+16.2%
Finite-lived intangibles, net$13.1M3 Dec 31, 2023$11.0M11 Dec 31, 2022+19.8%

Inventory

ItemLatestA year beforeChange
Inventory, total$1.1M3 Dec 31, 2023$2.4M11 Dec 31, 2022−54.0%

Filings

74 filings to the SEC since October 2021: 3 annual reports, 10 large holders, 61 other. The latest 20:

  1. Mar 20, 202515-12G EDGAR
  2. Mar 10, 20256-K EDGAR
  3. Mar 7, 2025S-8 POS EDGAR
  4. Mar 7, 2025S-8 POS EDGAR
  5. Mar 7, 2025S-8 POS EDGAR
  6. Mar 7, 2025SC 13E3/A EDGAR
  7. Mar 7, 2025SCHEDULE 13D/A EDGAR
  8. Feb 18, 20256-K EDGAR
  9. Jan 10, 20256-K EDGAR
  10. Jan 6, 2025SC 13E3/A EDGAR
  11. Dec 16, 2024SC 13E3/A EDGAR
  12. Dec 13, 2024CORRESP EDGAR
  13. Dec 2, 2024UPLOAD EDGAR
  14. Nov 22, 2024CORRESP EDGAR
  15. Nov 22, 2024SC 13E3/A EDGAR
  16. Oct 25, 2024UPLOAD EDGAR
  17. Oct 11, 2024SC 13D/A SCHEDULE 13D AMENDMENT NO. 2 EDGAR
  18. Oct 11, 2024SC 13E3 EDGAR
  19. Sep 30, 20246-K EDGAR
  20. Jun 21, 2024SC 13D/A SCHEDULE 13D AMENDMENT NO. 1 EDGAR

The 74 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

SEC filer profile

How BEST Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARBEST Inc.1
  • CIK0001709505
  • Filer statusNon-accelerated filer1
  • Incorporated inCayman Islands1
  • Fiscal year endsDecember 311
  • Industry code (SIC)4210 Trucking & Courier Services (No Air)1
  • SEC reviewing officeOffice of Energy & Transportation, Division of Corporation Finance1
  • Business address2/F, Block A, Huaxing Modern Industry, Park, No.18 Tangmiao Road, Xihu District, Hangzhou, Zhejiang Province, F4 3100131
  • Phone86 571-889956561
  • On EDGAR sinceJun 26, 20171
  • Filings152 in all: 6-K (61), CORRESP (18), UPLOAD (14), SC 13G/A (8), 20-F (7), F-1/A (6), SC 13G (6), SC 13D/A (5)1
    All 25 form types

    SC 13E3/A (4), S-8 (3), S-8 POS (3), EFFECT (2), F-6 POS (2), SC 13D (2), 144 (1), 15-12G (1), 25-NSE (1), 424B4 (1), 8-A12B (1), CERTNYS (1), F-1 (1), F-6 (1), FWP (1), SC 13E3 (1), SCHEDULE 13D/A (1)

  • Latest filingsAnnual report (20-F) Apr 30, 2024

Sources

The numbers on this page point here. Each one links to the record it came from.

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