BingEx Ltd. ADR ( (FLX) ) has released its Q4 earnings. Here is a breakdown of the information BingEx Ltd. ADR presented to its investors.
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BingEx Limited, operating under the brand FlashEx, is a prominent on-demand dedicated courier service provider in China, known for its commitment to delivery safety, time certainty, and high service quality. The company recently released its financial results for the fourth quarter and fiscal year 2024, showing a mixed performance. While the annual revenue slightly decreased to RMB4,468.2 million, the gross profit saw a significant increase of 24.3% year-over-year, reaching RMB490.6 million, with an improved gross profit margin of 11.0%. Despite these gains, the company reported a net loss of RMB146.5 million for the year, attributed to increased operating expenses and changes in the fair value of long-term investments. The number of fulfilled orders rose by 2.4% year-over-year, indicating a steady demand for FlashEx’s services. Looking forward, BingEx Limited aims to leverage its unique courier model and integrate advanced technologies to sustain growth and adapt to market changes.