Is Best Express going bankrupt?

It was either bankrupt or acquired.

On October 29, 2021, Jitu Express acquired the domestic express delivery business of Best Group for 6.8 billion yuan.

BEST EXPRESS is a large express company founded in 2003 and headquartered in Hangzhou. The company's business scope includes: less-than-truckload express, red express, special transportation and payment collection.

On December 10, 2021, the Tianyancha App showed that Hangzhou Best Network Technology Co., Ltd. had undergone industrial and commercial changes. The original shareholders, including Hangzhou Alibaba Venture Capital Co., Ltd., all withdrew, and the new shareholder Jitu Express Co., Ltd. The shareholding ratio is 100. At the same time, the legal representative of the company was changed from Chen Wei to Fan Suzhou.

Jitu Express is a technologically innovative Internet express logistics company. It is the first technology-based express company in Southeast Asia with Internet distribution as its core business. It was founded by Li Jie in August 2015, and then by the capital of Indonesia. Jakarta is the starting point to enter the express logistics market.

Its main business involves diversified fields such as express delivery, express transportation, warehousing and supply chain, covering intra-city, inter-provincial and international shipments, and is committed to bringing high-quality express delivery and logistics experience to users.

On February 24, 2022, J&T Express announced its official entry into the Latin American market and successfully launched online operations in Mexico. As of February 2022, Jitu’s global operation network has covered eleven countries. Jitu Express has now established 12 transshipment centers and 26 distribution points in Mexico, and its distribution network basically covers the core areas of all 32 states in Mexico. As an important part of the express delivery service, the Mexican version of the Jitu Express APP will also be launched in 2022.