The Zhitong Finance App learned that on June 9, BEST.US Group (BEST.US) released its unaudited financial results for the first quarter of 2022. Financial reports show that Baishi Group's revenue for the first quarter was 1.8 billion yuan (RMB, same below), down 35.2% from the previous year; net loss from continued operations was 380 million yuan, compared to 190 million yuan for the same period last year.

As of the end of the first quarter, the Group's net cash was $1.52 billion.

By business, Baishi Express's freight volume in the first quarter fell 13.5% year on year, but the e-commerce parts business continued to rise to 22.2% of the total volume, up 5.6 percentage points year on year.

In terms of Baishi's supply chain, 11 major customers were added in the first quarter, and the total number of completed orders to join Cloud Cang increased by 2.4% to 54.06 million orders. The supply chain customer satisfaction rate is 99%, and the customer churn rate is less than 5%.

For Baishi International, first-quarter revenue rose 7.3% year on year to 270 million yuan. In Southeast Asia, the number of packages reached 38.39 million, an increase of 25% over the previous year; among them, the number of packages in Vietnam, Malaysia, and Singapore increased by 67.7%, 67.6%, and 72.0%, respectively. In the US, Baishi International's business achieved break-even last year and continued to be profitable during the first quarter.

As of press release, Baishi Group is down 0.83% in the pre-market period.