Technology

BEST Inc. Announces Completion of Going Private Transaction

Published

1 year ago

March 8, 2025

HANGZHOU, China, March 7, 2025 /PRNewswire/ — BEST Inc. (NYSE: BEST) (“BEST” or the “Company”), a leading integrated smart supply chain solutions and logistics services provider in China and Southeast Asia, today announced the completion of its merger (the “Merger”) with Phoenix Global Partners, an exempted company with limited liability incorporated under the laws of the Cayman Islands (“Merger Sub”), pursuant to the previously announced agreement and plan of merger, dated as of June 19, 2024 (the “Merger Agreement”), among the Company, BEST Global Partners, an exempted company with limited liability incorporated under the laws of the Cayman Islands (“Parent”) and Merger Sub. As a result of the Merger, the Company has become a wholly owned subsidiary of Parent and has ceased to be a publicly traded company.

Pursuant to the terms of the Merger Agreement, which was approved by the Company’s shareholders at an extraordinary general meeting held on February 18, 2025, at the effective time of the Merger (the “Effective Time”), each American Depository Share of the Company (each, an “ADS”), representing twenty (20) class A ordinary shares of the Company, par value US$0.01 each (the “Class A Shares,” together with class B ordinary shares and class C ordinary shares of the Company, collectively, the “Shares”), issued and outstanding immediately prior to the Effective Time, other than ADSs representing the Excluded Shares (as defined in the Merger Agreement), together with the Class A Shares represented by such ADSs, has been cancelled and ceased to exist in exchange for the right to receive US$2.88 in cash per ADS without interest, and each Share issued and outstanding immediately prior to the Effective Time, other than the Excluded Shares, the Dissenting Shares (as defined in the Merger Agreement) and Class A Shares represented by ADSs, has been cancelled and ceased to exist in exchange for the right to receive US$0.144 in cash per Share without interest. Pursuant to the terms of the Merger Agreement, share-based incentives held by current or former officers, directors, employees and consultants of the Company have also been cancelled, cashed out or rolled over into equity incentives of Parent, as applicable. Pursuant to the terms of the Merger Agreement, the Excluded Shares have been cancelled without payment of any consideration from the Company therefor and the Dissenting Shares have been cancelled and will entitle the former holders thereof to receive the fair value thereon determined in accordance with the provisions of Section 238 of the Companies Act (As Revised) of the Cayman Islands.

Registered shareholders immediately prior to the Effective Time who are entitled to the Merger Consideration (as defined in the Merger Agreement) will receive a letter of transmittal and instructions on how to surrender their Shares in exchange for the Merger Consideration and should wait to receive the letter of transmittal before surrendering their Shares. Payment of the Merger Consideration will be made to holders of Shares (other than Class A Shares represented by ADSs) in respect of each such Share held thereby upon surrender of applicable Shares and delivery of the letter of transmittal and any other documents required by such letter of transmittal to be delivered in connection therewith. Payment of the Merger Consideration (after deduction of the fees, charges, deductions and expenses provided for under the Deposit Agreement, dated September 22, 2017, between the Company, the ADS depositary and the holders and beneficial owners of ADSs issued thereunder) will be made to holders of ADSs in respect of each ADS held thereby as soon as practicable after Citibank, N.A., the ADS depositary, receives the aggregate Merger Consideration payable to holders of ADSs from the paying agent.

The Company also announced today that it has requested that trading of its ADSs on the New York Stock Exchange (the “NYSE”) be suspended on March 10, 2025 (New York time). The Company has requested that NYSE file a Form 25 with the Securities and Exchange Commission (the “SEC”) notifying the SEC of the delisting of the ADSs on NYSE and the deregistration of the Company’s registered securities. The deregistration will become effective 90 days after the filing of the Form 25 or such shorter period as may be determined by the SEC. The Company intends to suspend its reporting obligations under the Securities Exchange Act of 1934, as amended, by filing a Form 15 with the SEC in approximately ten days following the filing of the Form 25. The Company’s obligations to file with the SEC certain reports and forms, including Form 20-F and Form 6-K, will be suspended immediately as of the filing date of the Form 15 and will cease once the deregistration becomes effective.

Kroll, LLC (operating through its Duff & Phelps Opinions Practice) is serving as the financial advisor to the Special Committee. Skadden, Arps, Slate, Meagher & Flom LLP is serving as U.S. legal counsel to the Special Committee. Maples and Calder (Hong Kong) LLP is serving as Cayman Islands legal counsel to the Company.

Fangda Partners is serving as U.S. legal counsel to the Consortium. Walkers (Hong Kong) is serving as Cayman Islands legal counsel to the Consortium. Kirkland & Ellis is serving as U.S. legal counsel to Alibaba Investment Limited and Cainiao Smart Logistics Investment Limited.

About BEST

BEST Inc. (NYSE: BEST) is a leading integrated smart supply chain solutions and logistics services provider in China and Southeast Asia. Through its proprietary technology platform and extensive networks, BEST offers a comprehensive set of logistics and value-add services, including freight delivery, supply chain management and global logistics services. BEST’s mission is to empower business and enrich life by leveraging technology and business model innovation to create a smarter, more efficient supply chain. For more information, please visit: http://www.best-inc.com/en/.

Safe Harbor Statement

This press release contains forward-looking statements made under the “safe harbor” provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in the Company’s filings with the SEC. All information provided in this announcement and in the attachments is as of the date of this press release, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

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SOURCE BEST Inc.

Technology

eSign.AI Named Sole Electronic Signature Technology Provider for Hong Kong Government’s CorpID Project, Building the Foundation for Digital Signing Infrastructure in Hong Kong

Published

3 hours ago

May 8, 2026

HONG KONG, May 8, 2026 /PRNewswire/ — As Hong Kong’s Digital Corporate Identity Platform (CorpID) counts down to its phased launch, eSign.AI has been appointed as the sole electronic signature vendor in the project, responsible for delivering core digital signing capabilities including digital signatures, certificate management, and signature verification services. CorpID is led by Nexify, a seasoned government systems integrator, as the prime contractor. The platform is expected to launch in phases starting late 2026, with multiple CorpID-based e-government services going live in mid-2027.

CorpID: Government-Grade Digital Identity Infrastructure for Hong Kong Enterprises

The Digital Corporate Identity Platform (CorpID) is an enterprise-level digital services platform launched by the Hong Kong SAR Government, developed under the oversight of the Digital Policy Office (DPO). It is designed to serve as the business equivalent of “iAM Smart,” providing a unified digital identity foundation for Hong Kong enterprises. CorpID’s core mission is to build an integrated digital government infrastructure — offering unified identity authentication, digital signing, form pre-filling, and e-licence storage — replacing paper-heavy, cumbersome traditional processes and enabling smart city development through seamless data connectivity.

The platform is open to companies incorporated under the Companies Ordinance (Cap. 622) and businesses registered under the Business Registration Ordinance (Cap. 310), including sole proprietorships and partnerships. The DPO requires all enterprise-related e-government services to support CorpID within 18 months of launch, and will continue expanding ecosystem coverage through sandbox initiatives, cross-industry identity standard interoperability, and fully online registration processes.

eSign.AI: The Digital Signing Engine Behind CorpID

eSign.AI is an AI-native electronic signature and contract automation platform built for enterprises worldwide, offering a complete signing framework from simple electronic signatures to the highest-level compliant digital signatures — meeting diverse regulatory requirements across industries and jurisdictions.

On the identity verification front, eSign.AI has completed integration with iAM Smart, enabling individual identity verification through Hong Kong’s citizen digital identity system, and providing legally valid digital certificate services for both enterprises and individuals.

Looking ahead, the eSign.AI SaaS platform will be deeply integrated with CorpID, providing enterprise and individual identity verification for Hong Kong businesses, and supporting both electronic and digital signing that complies with Hong Kong’s Electronic Transactions Ordinance — connecting the full digital contracting lifecycle for government and enterprise alike.

Getting Ahead of the AI Era: From eSignGlobal to eSign.AI

The electronic signature industry is undergoing a structural shift from “tooling” to “intelligence.” Market data underscores this acceleration: the AI-powered contract analysis tools market has grown from USD 3.32 billion in 2025 to USD 4.3 billion in 2026, at a CAGR of 29.6%. Signing is just one node in the contract lifecycle — document generation, workflow orchestration, compliance tracking, and post-execution management are all being transformed by AI, and the industry window is closing fast.

In April 2026, the company officially rebranded from eSignGlobal to eSign.AI, completing its strategic transformation from an e-signature tool provider to an AI-native contract automation platform. As the company’s spokesperson noted, this rebrand is not cosmetic — it is an acknowledgment of where the product actually is. Customers were already using eSign.AI to automate workflows that go far beyond the signature itself.

eSign Automation Skill was launched alongside the rebrand — an AI-powered signing automation framework for enterprise workflows that enables complete contract signing through natural language interaction, with no manual intervention required. Whether it is single-party approval, multi-party sequential signing, or large-scale parallel execution, an AI Agent can orchestrate the entire workflow in a single call. All signature initiations and status queries return structured JSON outputs, directly parseable by leading large language models and intelligent workflow systems.

eSign Automation is now available in the OpenClaw ecosystem and supports integration via Claude MCP, ChatGPT, and other leading AI platforms.

By combining AI automation capabilities with CorpID’s government-grade digital identity infrastructure, eSign.AI delivers a complete solution for Hong Kong enterprises — from identity verification to intelligent signing to full workflow automation.

About eSign.AI

eSign.AI (formerly eSignGlobal) is an AI-native electronic signature and contract automation platform built for enterprises worldwide. The platform serves over 100 countries and regions, covering core industries including financial services, manufacturing, real estate, human resources, and healthcare — with 1,500+ scenario applications and 3,000+ ecosystem partners. eSign.AI holds ISO 27001, ISO 27701, and ISO 27018 certifications and supports major regulatory frameworks including the U.S. ESIGN Act / UETA, EU eIDAS, HIPAA, GDPR, and 21 CFR Part 11. Infrastructure is anchored by independent data centers in Hong Kong, Singapore, and Frankfurt, Germany.

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SOURCE eSignGlobal

Technology

The 9th AskGamblers Awards Finalists Announced as Voting Starts

Published

3 hours ago

May 8, 2026

The highly anticipated 9th AskGamblers Awards has officially moved into the voting phase. Following a rigorous selection process, the finalists across 5 premier categories have been revealed: Best Casino, Best New Casino, Best New Slot, Best Sportsbook, Best Provider. Players are invited to cast their votes until 11 June.

BELGRADE, Serbia, May 8, 2026 /PRNewswire/ — The voting stage of the 9th annual AskGamblers Awards has officially begun. The list of finalists is announced, and the first votes are already coming in.

Players will have a chance to vote for their favourites until 11 June, when the winners will be announced at the gala ceremony in Belgrade. There’s a total of 5 categories where popular votes are taken into consideration:

Best CasinoBest New CasinoBest SportsbookBest New SlotBest Game Provider

There aren’t any big changes to the voting process compared to last year. The votes from the prominent members of AskGamblers Forum will be counted in as well, while some award winners will be announced directly by the AskGamblers teams.

These include: Best Crypto Casino, Best Partner, and Best Manager categories, while the AskGamblers Superstar Award is expected to be handed to the operator that illustrates the brand values best.

Dijana Radunović, General Manager at AskGamblers, is excited for voting to start: “We’re seeing some familiar contestants, but there are a lot of new names, so it will be exciting to see who comes up on top.”

“We invite players to vote for their favourites! This is a chance for you to speak your mind and support operators and games that shape this industry,” Radunović added.

Before the AskGamblers Awards Ceremony that takes place on 11 June, Charity Night is scheduled for 10 June.

About AskGamblers

AskGamblers.com strives to provide current, objective, and accurate information and guide its users towards a safe gaming experience. The way we deliver our services, from the online casino, sportsbook, slot, and bonus reviews to our trusted Complaint Service, is best described by our motto: ‘Get the truth. Then play.’

For more information about AskGamblers and AskGamblers Awards, please contact dijana.radunovic@g2m.com.

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Technology

SUNMI Wins 2026 Red Dot Design Awards with Five Products, Leading Global Commercial Industrial Design

Published

3 hours ago

May 8, 2026

SINGAPORE, May 8, 2026 /PRNewswire/ — The winners of the 2026 German Red Dot Design Award were officially announced. Five of SUNMI Technology’s flagship products won awards: the CPad Business Tablet, CPad PAY, FLEX 3 Interactive Display, the V3 handheld POS Terminal and L3 Industrial PDA. These products stood out with three core design concepts: integration, versatility and human-centricity.

Known as “The Oscars” of global industrial design, the Red Dot Award has strict evaluation criteria covering aesthetics, ergonomics, scenario adaptability and sustainability. SUNMI adheres to original commercial scenario customization, rejecting crudely modified consumer devices. All winning products are originally developed for real commercial scenarios such as cash register, food delivery, industrial inspection and store operations, covering the entire commercial track with high scenario adaptability. Meanwhile, it practices ESG concepts, adopting eco-friendly materials and modular structures to extend equipment service life, reduce consumable consumption, and implement low-carbon and long-term design, which perfectly meets the Red Dot’s sustainability evaluation criteria.

Simplify Complexity: With highly integrated design, SUNMI eliminates the “patchwork feeling” of cluttered devices and tangled cables in traditional commercial scenarios, streamlining store operations and saving space.All-in-One Versatility: Beyond a single tool function, SUNMI’s products achieve flexible transformation through modular and multi-form designs to proactively adapt to changing business needs. The CPad series with modular accessories and FLEX 3’s Lego-style modular design enable multi-scenario application and long-term reuse.Human-Centric Design: Every detail is human-oriented, focusing on real pain points to enhance scenario experience. The L3 Industrial PDA reduces high-frequency work fatigue through scientific weight distribution; the V3 Smart POS Terminal balances large-screen visibility and grip comfort; CPad PAY integrates full-link functions to simplify workflows.

These honors stem from SUNMI’s long-term commitment to a sustainable society, original commercial R&D and ESG. In the future, SUNMI will uphold its core concepts, expand the boundaries of commercial industrial design, and empower global businesses with user-oriented, eco-friendly and high-value products.

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View original content:https://www.prnewswire.co.uk/news-releases/sunmi-wins-2026-red-dot-design-awards-with-five-products-leading-global-commercial-industrial-design-302766777.html