Asian Tech Press (Jan 18) -- BEST announced that the company received a letter from the New York Stock Exchange dated January 5, 2022, notifying the company that it does not meet the applicable price criteria of the NYSE's continued listing standards.

BEST has indicated that it has six months from receipt of the notice to regain compliance with the minimum share price requirement, during which time the company's ADSs will continue to trade on the NYSE, and that the notice does not affect the company's business operations.

BEST's primary business is logistics and express delivery. In December of last year, BEST announced its China express business transfer to J&T Express China. According to the final agreement signed by both parties on October 29, the business was transferred for approximately RMB 6.8 billion. The relevant regulatory authorities have approved the deal. The transaction has now been completed.