Q4 2022 BEST Inc Earnings Call Transcript
Good day and welcome to the BEST Inc. Fourth Quarter 2022 Results Conference Call. (Operator Instructions). Please note, this event is being recorded.
I would now like to turn the conference over to the Chairman and CEO, Johnny Chou. Please go ahead.
Thank you, operator. Hello, everyone, and thank you for joining BEST's Fourth Quarter and Full Year 2022 Earnings Call today.
2022 was a challenging year. The COVID-19 pandemic and its related controls seriously impacted general economy, and this was very particularly hard for the logistics industry. When China lifted its restrictions in the fourth quarter, many of our employees, partners and customers tested positive to COVID and our operation was severely disrupted. However, under such difficult environment, we prevailed. BEST Supply Chain Management beat our internal 2022 budget, increasing its gross margin by 6.3 percentage points year-over-year in the fourth quarter, while BEST Freight annual loss narrowed
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