Best Logistics Completed a New Round of $760 million Private Placement to Further Advance its Lead in Logistics and Supply Chain Services

Date:8/28/2016

The leading integrated supply chain management services provider Best Logistics Technologies Limited (hereinafter referred to as "Best Logistics" or the "Company") recently announced that it had completed a new round of $760 million private placement, in which Goldman Sachs acted as its lead financial advisor and Hina Group acted as a co-financial advisor.

This round of fund-raising has been supported by multiple globally and regionally renowned institutional investors. Leading Chinese financial institutions Everbright Financial Holding and CITIC PE led the round, while Alibaba's affiliate, Cainiao Smart Logistics Network Ltd. has also participated in this round and became one of the shareholders of the Company. . Other investors that participated in this round include China Development Bank International, China Infrastructure Partners, L.P. ("CITP"), Fosun International, Softbank China Venture Capital, CDIB Capital International, International Finance Corporation (a World Bank Group member), CHR International, Liyue Jinshi and Sunshui Asset Management. Furthermore, the company has received tremendous support from other existing shareholders: Alibaba, CRCI (China Renaissance Capital Investment), IDG, Foxconn, Goldman Sachs, Denlux Capital, Walden International, CDH Investment, Hina Group and Shanghai Jiashi Investment.

With the new funding proceeds, Best Logistics will be able to enhance its technology development, continue to reinforce its leading position in the domestic market, improve service quality and capability of Best Express (Parcel), Best Freight (LTL) and Best Supply Chain, further strengthen its international business expansion, extend the depth and breadth of Best Logistics' financial service offerings in order to establish a modern ecosystem of commercial logistics through the development of last-mile community and service capability.

Founded in Hangzhou in 2007, Best Logistics consists of 7 business units, namely Best Express (Parcel), Best Freight (LTL), Best Supply Chain, Best Cloud, Best Capital, Best Global, and Best Store. Best Logistics operates warehouses and distribution centers of over 3.5 million square meters, covering all cities across the country and expanding its reach to towns and villages. Best Logistics has also established cross-border logistics business in the United States, Germany, Australia and Japan, etc., providing customers with a broader global service coverage. Since its inception, Best Logistics has adopted a technology-driven business model, and the Company's overall business has been consistently undergoing rapid expansion.

Mr. Johnny Chou, Founder & Chairman of the Company stated that it was a great honor that the fund-raising has received tremendous support from multiple globally and regionally renowned institutional investors. Best Logistics will work closely with the existing and new shareholders to relentlessly drive the Company's future development, realize potential business synergies, penetrate new market opportunities and continue to roll out strategic initiatives. As a technology-driven company, Best Logistics will consciously leverage its unparalleled platform to provide customers with efficient services and quality user experience, and endeavor to become a trusted promoter of new logistics ecosystem