Best Group: The volume of express business in the second quarter decreased by 8.8% year-on-year


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Pinwan, August 17, Best Group released its unaudited financial results for the second quarter of 2022. According to the financial report, the group’s revenue in the second quarter was 1.93 billion yuan, an increase of 6.9% from the previous quarter.

According to Fan Qianyi, chief financial officer of Best Group, in the second quarter, the group’s cash and cash equivalents, restricted cash, and short-term investments amounted to 4.4 billion yuan, and net cash at the end of the quarter reached 1.4 billion yuan. Excluding the additional expenses arising from the reduction of Best Financial’s business and the group’s share consolidation, the group’s net loss in the second quarter narrowed sharply by 27.1% from the previous quarter.

In addition, in the express business, the volume of goods in the second quarter decreased by 8.8% year-on-year to 2.223 million tons, but under the measures to reduce costs and increase efficiency, the net loss narrowed by 66.8% month-on-month to 57.42 million yuan.

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