5 Chinese Stocks at Risk as Orders Drop

4. BEST Inc. (NYSE:BEST)

Number of Hedge Fund Holders: 3   

BEST Inc. (NYSE:BEST) operates as a smart supply chain service provider. It is based in Hangzhou. The firm offers tech solutions to problems like network and route optimization, swap bodies, sorting line automation, smart warehouses, and store management. It also operates a real-time bidding platform to source truckload capacity from independent transportation service providers and agents. This business has been hurt amid slowing orders from the US, as companies no longer need trucking services for deliveries to export hubs.  

BEST Inc. (NYSE:BEST) posted earnings for the second quarter of 2022 on August 17, reporting losses per share of $0.34. The revenue over the period was more than $287 million, down close to 37% year-on-year. 

At the end of the second quarter of 2022, 3 hedge funds in the database of Insider Monkey held stakes worth $160,000 in BEST Inc. (NYSE:BEST), compared to 5 in the preceding quarter worth $231,000.