Morningstar®DocumentResearch℠FORMF-1/ABESTInc.-BSTITheinformationcontainedhereinmaynotbecopied,adaptedordistributedandisnotwarrantedtobeaccurate,completeortimely.Theuserassumesallrisksforanydamagesorlossesarisingfromanyuseofthisinformation,excepttotheextentsuchdamagesorlossescannotbelimitedorexcludedbyapplicablelaw.Pastfinancialperformanceisnoguaranteeoffutureresults.UsetheselinkstorapidlyreviewthedocumentTABLEOFCONTENTSIndextoConsolidatedFinancialStatementsTableofContentsAsfiledwiththeSecuritiesandExchangeCommissiononSeptember19,2017RegistrationNo-2159SECURITIESANDEXCHANGECOMMISSIONWashington,D.CAmendmentNotoFormF-1REGISTRATIONSTATEMENTUNDERTHESECURITIESACTOF1933BESTInc.(ExactnameofRegistrantasspecifiedinitscharter)CaymanIslands(StateorOtherJurisdictionofIncorporationorOrganization)4210(PrimaryStandardIndustrialClassificationCodeNumber)NotApplicable(I.R.S.EmployerIdentificationNumber)2ndFloor,BlockA,HuaxingModernIndustryParkNoTangmiaoRoad,XihuDistrict,HangzhouZhejiangProvince310013People'sRepublicofChina+86-571-5656(AddressandTelephoneNumberofRegistrant'sPrincipalExecutiveOffices)LawDebentureCorporateServicesIncndAvenue,Suite403NewYork,NY10017+1-212-750-74(Name,addressandtelephonenumberofagentforservice)ChrisK.H.Lin,Esq.DanielFertig,Esq.SimpsonThacher&BartlettLLP35thFloor,ICBCTower3GardenRoadCentral,HongKong+852-2514-7600YilongDu,Esq.Latham&WatkinsLLPUnit2318,ChinaWorldTradeOffice21JianGuoMenWaiAvenueBeijing100004People'sRepublicofChina+86105965-7000Approximatedateofcommencementofproposedsaletothepublic:Assoonaspracticableaftertheeffectivedateofthisregistrationstatement.IfanyofthesecuritiesbeingregisteredonthisformaretobeofferedonadelayedorcontinuousbasispursuanttoRule415undertheSecuritiesActof1933,checkthefollowingbox.oIfthisFormisfiledtoregisteradditionalsecuritiesforanofferingpursuanttoRule462(b)undertheSecuritiesAct,pleasecheckthefollowingboxandlisttheSecuritiesActregistrationstatementnumberoftheearliereffectiveregistrationstatementforthesameoffering.oIfthisFormisapost-effectiveamendmentfiledpursuanttoRule462(c)undertheSecuritiesAct,checkthefollowingboxandlisttheSecuritiesActregistrationstatementnumberoftheearliereffectiveregistrationstatementforthesameoffering.oIfthisFormisapost-effectiveamendmentfiledpursuanttoRule462(d)undertheSecuritiesAct,checkthefollowingboxandlisttheSecuritiesActregistrationstatementnumberoftheearliereffectiveregistrationstatementforthesameoffering.oIndicatebycheckmarkwhethertheregistrantisanemerginggrowthcompanyasdefinedinRule405oftheSecuritiesActof1933.EmerginggrowthcompanyoIfanemerginggrowthcompanythatpreparesitsfinancialstatementsinaccordancewithU.S.GAAP,indicatebycheckmarkiftheregistranthaselectednottousetheextendedtransitionperiodforcomplyingwithanyneworrevisedfinancialaccountingstandards†providedpursuanttoSection7(a)(2)(B)oftheSecuritiesAct.oCALCULATIONOFREGISTRATIONFEETitleofEachClassofSecuritiestobeRegistered(1)(2)AmounttobeRegistered(2)(3)ProposedMaximumOfferingPriceperShare(3)ProposedMaximumAggregateOfferingPrice(3)AmountofRegistrationFee(4)ClassAordinaryshares,parvalueUS$0pershare51,750,000US$11US$569,250,000US$65,976Source:BESTInc.,F-1/A,September19,2017Theinformationcontainedhereinmaynotbecopied,adaptedordistributedandisnotwarrantedtobeaccurate,completeortimely.Theuserassumesallrisksforanydamagesorlossesarisingfromanyuseofthisinformation,excepttotheextentsuchdamagesorlossescannotbelimitedorexcludedbyapplicablelaw.Pastfinancialperformanceisnoguaranteeoffutureresults.PoweredbyMorningstar®DocumentResearch℠(1)(2)(3)(4)Americandepositaryshares,orADSs,evidencedbyAmericandepositaryreceiptsissuableupondepositoftheClassAordinarysharesregisteredherebywillberegisteredunderaseparateregistrationstatementonFormF-6(RegistrationNo-220361).EachADSrepresentsoneClassAordinaryshare.Includes(a)ClassAordinarysharesrepresentedbyADSsthatmaybepurchasedbytheunderwriterspursuanttotheiroptiontopurchaseadditionalADSsand(b)allClassAordinarysharesrepresentedbyADSsinitiallyofferedandsoldoutsidetheUnitedStatesthatmayberesoldfromtimetotimeintheUnitedStates.OffersandsalesofClassAordinarysharesoutsidetheUnitedStatesarebeingmadepursuanttoRegulationSundertheSecuritiesActof1933,asamended,andarenotcoveredbythisRegistrationStatement.EstimatedsolelyforthepurposeofcomputingtheamountoftheregistrationfeepursuanttoRule457(a)undertheSecuritiesActof1933,asamended.Previouslypaid.TheRegistrantherebyamendsthisregistrationstatementonsuchdateordatesasmaybenecessarytodelayitseffectivedateuntiltheRegistrantshallfileafurtheramendmentwhichspecificallystatesthatthisregistrationstatementshallthereafterbecomeeffectiveinaccordancewithSection8(a)oftheSecuritiesActof1933,asamended,oruntiltheregistrationstatementshallbecomeeffectiveonsuchdateastheSecuritiesandExchangeCommission,actingpursuanttosuchSection8(a),maydetermine.†Theterm"neworrevisedfinancialaccountingstandard"referstoanyupdateissuedbytheFinancialAccountingStandardsBoardtoitsAccountingStandardsCodificationafterApril5,2012.Source:BESTInc.,F-1/A,September19,2017Theinformationcontainedhereinmaynotbecopied,adaptedordistributedandisnotwarrantedtobeaccurate,completeortimely.Theuserassumesallrisksforanydamagesorlossesarisingfromanyuseofthisinformation,excepttotheextentsuchdamagesorlossescannotbelimitedorexcludedbyapplicablelaw.Pastfinancialperformanceisnoguaranteeoffutureresults.PoweredbyMorningstar®DocumentResearch℠TableofContentsTheinformationinthispreliminaryprospectusisnotcompleteandmaybechanged.ThesesecuritiesmaynotbesolduntiltheregistrationstatementfiledwiththeU.S.SecuritiesandExchangeCommissioniseffective.Thispreliminaryprospectusisnotanoffertosellthesesecuritiesanditisnotsolicitinganyoffertobuythesesecuritiesinanyjurisdictionwheretheofferorsaleisnotpermitted.SubjecttoCompletion,DatedSeptember19,2017,000,000AmericanDepositarySharesBESTInc.Representing45,000,000ClassAOrdinarySharesThisistheinitialpublicofferingofBESTInc.,orBEST.Weareoffering45,000,000Americandepositaryshares,orADSs.EachADSrepresentsoneClassAordinaryshare,parvalueUS$0pershare.Priortothisoffering,therehasbeennopublicmarketforourADSsorordinaryshares.ItiscurrentlyestimatedthattheinitialpublicofferingpriceperADSwillbebetweenUS$10andUS$11.WehaveappliedforlistingoftheADSsontheNewYorkStockExchangeunderthesymbol"BSTI."InvestinginourADSsinvolvesrisks.See"RiskFactors"beginningonpage21.NeithertheUnitedStatesSecuritiesandExchangeCommissionnoranyotherregulatorybodyhasapprovedordisapprovedofthesesecuritiesorpassedupontheaccuracyoradequacyofthisprospectus.Anyrepresentationtothecontraryisacriminaloffense.PerADSTotalInitialpublicofferingpriceUS$US$UnderwritingdiscountsandcommissionsUS$US$Proceeds,beforeexpenses,tousUS$US$Weandthesellingshareholdersnamedinthisprospectushavegrantedtheunderwriterstherighttopurchaseuptoanadditional6,750,000ADSstocoverover-allotments.WewillnotreceiveanyproceedsfromtheADSssoldbythesellingshareholders.AlibabaInvestmentLimited,oneofourprincipalshareholderswhichbeneficiallyowned23%ofourtotalordinarysharesoutstandingonanas-convertedbasispriortothisoffering,hasindicatedaninterestinpurchasinguptoUS$150millionofourADSsrepresentingClassAordinarysharesinthisofferingattheinitialpublicofferingpriceandonthesametermsastheotherADSsbeingoffered.WeandtheunderwritersarecurrentlyundernoobligationtosellADSstoAlibabaInvestmentLimited.ThenumberofADSsavailableforsaletothegeneralpublicwillbereducedtotheextentthatAlibabaInvestmentLimitedoritsaffiliatespurchaseourADSs.Immediatelypriortothecompletionofthisoffering,ouroutstandingsharecapitalwillconsistofClassAordinaryshares,ClassBordinarysharesandClassCordinaryshares.HoldersofClassAordinaryshares,ClassBordinarysharesandClassCordinaryshareshavethesamerightsexceptforvotingandconversionrights.EachClassAordinaryshareisentitledtoonevote;eachClassBordinaryshareisentitledto15votesandisconvertibleintooneClassAordinaryshareatanytimebytheholderthereof;andeachClassCordinaryshareisentitledto30votesandisconvertibleintooneClassAordinaryshareatanytimebytheholderthereof.ClassAordinarysharesarenotconvertibleintoClassBordinarysharesorClassCordinaryshares,ClassBordinarysharesarenotconvertibleintoClassCordinaryshares,andClassCordinarysharesarenotconvertibleintoClassBordinarysharesunderanycircumstances.Mr.Shao-NingJohnnyChou,ourfounder,chairmanandchiefexecutiveofficer,willbeneficiallyownallofourissuedClassCordinaryshares.TheseClassCordinaryshareswillconstituteapproximately13%ofourtotalissuedandoutstandingsharecapitalimmediatelyafterthecompletionofthisofferingand46%oftheaggregatevotingpowerofourtotalissuedandoutstandingsharecapitalimmediatelyafterthecompletionofthisoffering,assumingtheunderwritersdonotexercisetheirover-allotmentoption.AlibabaInvestmentLimitedandCainiaoSmartLogisticsInvestmentLimitedwillbeneficiallyownallofourissuedClassBordinaryshares,whichwillconstituteapproximately25%ofourtotalissuedandoutstandingsharecapitalimmediatelyafterthecompletionofthisofferingand45%oftheaggregatevotingpowerofourtotalissuedandoutstandingsharecapitalimmediatelyafterthecompletionofthisoffering,assumingtheunderwritersdonotexercisetheirover-allotmentoption.TheunderwritersexpecttodelivertheADSsagainstpaymentinU.S.dollarstopurchasersonorabout,2017.Prospectusdated,2017.CitigroupCreditSuisseGoldmanSachsJ.P.MorganDeutscheBankCITICCLSAKeyBancCapitalMarketsOppenheimer&Co.StifelSource:BESTInc.,F-1/A,September19,2017PoweredbyMorningstar®DocumentResearch℠Theinformationcontainedhereinmaynotbecopied,adaptedordistributedandisnotwarrantedtobeaccurate,completeortimely.Theuserassumesallrisksforanydamagesorlossesarisingfromanyuseofthisinformation,excepttotheextentsuchdamagesorlossescannotbelimitedorexcludedbyapplicablelaw.Pastfinancialperformanceisnoguaranteeoffutureresults.TableofContentsSource:BESTInc.,F-1/A,September19,2017PoweredbyMorningstar®DocumentResearch℠Theinformationcontainedhereinmaynotbecopied,adaptedordistributedandisnotwarrantedtobeaccurate,completeortimely.Theuserassumesallrisksforanydamagesorlossesarisingfromanyuseofthisinformation,excepttotheextentsuchdamagesorlossescannotbelimitedorexcludedbyapplicablelaw.Pastfinancialperformanceisnoguaranteeoffutureresults.
