BingEx Ltd. ADR ( (FLX) ) has released its Q1 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 time certainty, delivery safety, and service quality.
In its first quarter of 2025, BingEx Limited reported a decrease in revenues to RMB960.8 million from RMB1,107.7 million in the same period of 2024, amidst intensified market competition. Despite the revenue decline, the company improved its gross profit margin to 13.2% from 11.8% year-over-year.
Key financial metrics revealed a net loss of RMB10.3 million compared to a net income of RMB64.6 million in the previous year. However, the non-GAAP net income stood at RMB49.6 million, reflecting the company’s efforts to manage costs and enhance operational efficiency. The company fulfilled 58 million orders during the quarter, showcasing its robust service delivery capability.
Looking ahead, BingEx Limited remains focused on expanding its market penetration, particularly in lower-tier cities, and enhancing its service quality. The management is committed to advancing its business model and delivering a more reliable customer experience, aiming for sustainable growth in the competitive courier service market.