Best Inc. (NASDAQ: BEST) stock rises by 5.45% during the current market. BEST Inc. is a prominent Chinese supplier of comprehensive smart supply chain solutions and logistics services. BEST provides a comprehensive set of logistics and value-added services, including express and freight delivery and financial services, via its proprietary technology platform and substantial networks.
Significant Development in BEST stock
BEST Inc. today announced the start of its full-chain, direct logistics service for delivering packages from China to Thailand, Vietnam, and Cambodia. The services will be provided in collaboration with Cainiao Smart Logistics Network, Alibaba Group’s logistics subsidiary.
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If e-commerce customers in Thailand, Vietnam, and Cambodia choose this logistics option, their packages will be sent straight from China to BEST’s Shenzhen warehouse. After passing Chinese customs, the packages will be delivered directly to Bangkok in Thailand, Hanoi in Vietnam, or Phnom Penh in Cambodia.
Depending on the demands of the consumer, parcels can be transported by land, sea, or air. Powder or liquid-based items, for example, are carried by land, whereas time-sensitive products are supplied by air. They’ll subsequently be sent to BEST’s sortation facilities in Bangkok, Hanoi, and Phnom Penh, where they’ll be sorted before being dispatched for last-mile delivery. All through the delivery process, customers will be able to track their packages in real-time.
This development follows BEST’s collaboration with Cainiao Network to establish cross-border logistics services between China and Malaysia and Singapore last year. With its introduction, the Southeast Asian area now has a comprehensive logistics network, allowing for a more effective distribution procedure for cross-border e-Commerce packages and a better overall consumer experience.
Johnny Chou, Chairman and CEO BEST, stated,
BEST’s worldwide strategy has prioritized Southeast Asia, and they want to increase their investments in the company and region. They’ve built express delivery networks in five countries across the area, offering consumers with fast, dependable, and cost-effective services while also supporting cross-border e-commerce development.