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Best Inc   (BEST)
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Best Inc 's

Competitiveness


 

BEST Sales vs. its Competitors Q4 2022



Comparing the current results to its competitors, Best Inc reported Revenue decrease in the 4 quarter 2022 year on year by -37.38 %, despite the revenue increase by the most of its competitors of 9.48 %, recorded in the same quarter.

List of BEST Competitors





Revenue Growth Comparisons




Net Income Comparison


Best Inc , despite income growth by most of its competitors recorded a net loss, despite income increase by most of its competitors of 82.82 %

<<  BEST Stock Performance Comparisons


Best Inc 's Comment on Competitors and Industry Peers


We believe our expertise in manufacturing specialty films provides us a distinct advantage over competitors in China, most of whom are focused mainly on commodity films, such as BOPP, BoPET, PVC and BOPA. We are the leading producer of coated films in China with limited domestic competition only in the form of smaller rivals with an average annual capacity of several hundred metric tons. Internationally, we face competition from industry leaders such as DuPont Energy Co., Innovia Films Ltd. and Exxon Mobil Corporation. Each of these corporations has much larger production capacity than us and has a strong reputation as they have significant experience in the coated films market.

As tobacco remains a state-owned and operated industry in China, the government buys only from approved PRC domestic vendors and competition exists only in the form of other domestic film companies. In addition, each province is required to maintain two to three suppliers. Thus, competition among qualified players is limited. In the domestic market there are several qualified large producers including: Jiangsu Zhongda New Material Group Co., Ltd., Foshan Plastics Group Co., Ltd, Zhanjiang Packaging Enterprises Ltd., Yunnan Kunlene Film Industries Co., Ltd., Yunnan Hongta Plastics Co., Ltd., Hubei Firsta Packaging Co., Ltd. As we have attained certification as a government supplier, a certain level of annual sales is guaranteed to us from the government of China. In the international market, we face competition from large multi-nationals as well as Southeast Asian and Japanese firms. We believe we have a price advantage over our Western competitors due to our lower production costs.

Our advanced film is unique; as such we do not have a direct competitor for this product. However, established international producers such as Applied Extrusion Technologies, Inc. and Innovia Films Ltd. do produce their own advanced films based mainly on printed holograms, which are relatively simple to duplicate. Rather than direct competition, we are focusing on marketing efforts on awareness and educating buyers as to the superior quality of our products over these hologram-based counterfeit films.

We are the largest color printing service provider in Hainan province and rank approximately 20th in the overall Chinese market. Due to low operating costs, the printing industry is highly fragmented with approximately 4,000 soft packaging and printing companies in China. As a result, competition in China is fierce and industry margins are low. Accordingly, we maintain our printing services mainly as a convenience for current film customers who are more concerned with quality, service, and one-stop printing and packaging service than with price.

The primary barriers to enter the market include obtaining a printing license and significant capital investment in large-scale production facilities. We believe our competitive advantages over domestic players are better cost-efficiencies due to economies of scale and significant order volumes, long standing relationships with customers, advanced technologies and equipment deployed in our manufacturing process, high product quality with competitive cost structure and a well-known brand name. Our competitive advantages over international players include significant production capacity, a large existing customer base, the flexibility to customize our products, better local knowledge and connections in the PRC, lower price resulting from our lower cost structure and competitive product quality.





  

Overall company Market Share Q4 2022

Overall company, revenue fell by -37.38 % and company lost market share, to approximately 1.13 %.




<<  More on BEST Market Share.
 
*Market share is calculated based on total revenue.





Who are Best Inc 's Competitors?




Dupont De Nemours Inc
Share Performance



+3.10%
This Quarter



Dupont De Nemours Inc
Profile

Dupont De Nemours Inc operates as a diversified chemical company. It focuses on developing and producing a wide range of materials and solutions that cater to various industries, including agriculture, electronics, transportation, and healthcare.

More about Dupont De Nemours Inc 's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 33,993.000 mill. $ 12,068.000 mill. $ 462.000 mill.


Tredegar Corporation
Share Performance



+8.19%
Over The Past 5 Days



Tredegar Corporation
Profile

Tredegar Corporation operates using a diversified business model, encompassing manufacturing and selling plastic films, aluminum extrusions, and elastomer products.

More about Tredegar Corporation's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 212.152 mill. $ - mill. $ -105.905 mill.


Exxon Mobil Corporation
Share Performance



+10.76%
30 Days



Exxon Mobil Corporation
Profile

Exxon Mobil Corporation operates as a multinational oil and gas corporation, engaging in the exploration, production, refining, and marketing of petroleum products worldwide. The company strives to maintain a strong presence across the entire value chain of the industry, from upstream exploration and production activities to downstream refining and marketing operations.

More about Exxon Mobil Corporation's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 468,008.481 mill. $ 344,582.000 mill. $ 37,354.000 mill.



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