Based in Hangzhou, China, BEST Inc. (BEST, Financials) a supply chain solutions company has gotten a warning from the New York Stock Exchange declaring it does not follow listing criteria. According to a statement from BEST, the firm neglected to submit its Form 6-K financial report for the six months ended June 30, 2024, with the U.S. Securities and Exchange Commission.
Section 802.01E of the NYSE Listed Company Manual, which mandates timely financial report submissions to preserve listing status, is cited in the NYSE alert dated Jan. 6, 2025. BEST stated in its statement that its concentration on completing a previously announced privatization deal accounts for the delay. BEST added, after the privatization is complete, the company's Class A ordinary shares would no longer be traded on the NYSE.
Providing goods delivery, supply chain management, and worldwide logistics, BEST runs supply chains and logistics operations in China and Southeast Asia. Said in its statement, the business employs unique technologies to enhance supply chain processes.
The firm said it is focusing on the privatization process but did not provide a date for the delayed submission. Based on BEST's remark, the result of this endeavor will define the company's future in the market and degree of compliance.
This article first appeared on GuruFocus.免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。