BingEx Ltd. ADR (FLX)
NASDAQ:FLX
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BingEx Ltd. ADR
(NASDAQ:FLX)
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Rating:49Neutral
Price Target:
$3.00
▼(-6.25% Downside)
Action:ReiteratedDate:12/10/25
The overall score of 49 reflects significant challenges in financial performance, including declining revenue, negative margins, and weak cash flow, which are the primary drags. Valuation concerns with a negative P/E ratio further weigh on the score, while neutral technical indicators and positive earnings call highlights provide limited support.
Positive Factors
Enterprise Client Expansion
Expanding enterprise client base enhances revenue stability and growth potential, leveraging long-term contracts and high retention rates.
Negative Factors
Inconsistent Revenue Growth
Declining revenue indicates challenges in maintaining market share and competitiveness, impacting long-term growth prospects.
Read all positive and negative factors
Positive Factors
Negative Factors
Enterprise Client Expansion
Expanding enterprise client base enhances revenue stability and growth potential, leveraging long-term contracts and high retention rates.
Read all positive factors
BingEx Ltd. ADR (FLX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$162.96M
Dividend YieldN/A
Average Volume (3M)108.67K
Price to Earnings (P/E)4.8
Beta (1Y)2.11
Revenue Growth-13.66%
EPS Growth-746.83%
CountryUS
Employees1,046
SectorIndustrials
Sector Strength72
IndustryIntegrated Freight & Logistics
Share Statistics
EPS (TTM)0.02
Shares Outstanding55,937,317
10 Day Avg. Volume167,686
30 Day Avg. Volume108,667
Financial Highlights & Ratios
PEG Ratio-0.02
Price to Book (P/B)1.92
Price to Sales (P/S)0.32
P/FCF Ratio1.37K
Enterprise Value/Market Cap-1.01
Enterprise Value/Revenue-0.04
Enterprise Value/Gross Profit-0.36
Enterprise Value/Ebitda1.52
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)2.8
Revenue Forecast (FY)$4.20B
BingEx Ltd. ADR Business Overview & Revenue Model
Company Description
BingEx Limited, through its subsidiaries, engages in the provision of on-demand dedicated courier services under the FlashEx brand name in the People's Republic of China. The company offers Flash-Riders as service who provides the courier services...
BingEx Ltd. ADR Earnings Call Summary
Earnings Call Date:Mar 17, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 21, 2026
Earnings Call Sentiment Neutral
The call presents a mix of positive operational and profitability improvements (notably strong non-GAAP net income growth, margin expansion, improved order mix and AI-driven efficiency gains) alongside material top-line pressure (full-year revenue down ~11%, flat Q4 revenue) driven by intensified competition and lower order volumes. Management emphasizes refined operations, technology deployment and targeted merchant/rider initiatives to stabilize and improve performance, but certain benefits (e.g., one-time expense recognition) and nascent initiatives (drone deliveries) temper near-term upside.Positive Updates
Profitability Improvement and Strong YoY Adjusted Net Income Growth
Adjusted (non-GAAP) net income for Q4 increased 107.1% year-over-year to RMB 41.6 million; full-year 2025 non-GAAP net income was RMB 199.4 million. Non-GAAP net margin rose to 5.0% in 2025 from 4.5% in 2024, and the company achieved non-GAAP net income profitability for the third consecutive year.
Negative Updates
Full-Year Revenue Decline
Total revenue for 2025 was RMB 4.0 billion compared with RMB 4.5 billion in 2024, a decline of ~11.1% year-over-year, primarily due to lower order volumes amid intensified market competition.
Read all updates
Q4-2025 Updates
Positive
Negative
Profitability Improvement and Strong YoY Adjusted Net Income Growth
Adjusted (non-GAAP) net income for Q4 increased 107.1% year-over-year to RMB 41.6 million; full-year 2025 non-GAAP net income was RMB 199.4 million. Non-GAAP net margin rose to 5.0% in 2025 from 4.5% in 2024, and the company achieved non-GAAP net income profitability for the third consecutive year.
Read all positive updates
Company Guidance
Management guided that for 2026 FlashEx expects overall order volume to remain relatively stable versus 2025 and average selling prices (ASPs) to be relatively steady, while continuing to drive a higher share of mid‑ to high‑value orders through refined operations and merchant tiering; they will accelerate AI and low‑altitude drone deployment (over 2,000 drone deliveries completed since pilot) to boost efficiency (AI-assisted coding lifted R&D productivity ~30% in 2025) and aim to sustain non‑GAAP profitability (non‑GAAP net margin rose to 5% in 2025 from 4.5% in 2024, with non‑GAAP net income of RMB 199.4m for the year and RMB 41.6m in Q4), while defending scale (FY revenue RMB 4.0bn, Q4 revenue RMB 1.0bn), order base (249.2m fulfilled orders in 2025, 63.2m in Q4), service network (298 cities, 31m registered riders, 120m users) and a healthy liquidity position (cash and equivalents ~RMB 951.6m).BingEx Ltd. ADR Financial Statement Overview
Summary
Income Statement
35
Negative
Balance Sheet
60
Neutral
Cash Flow
20
Very Negative
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 4.02B | 4.47B | 4.53B | 4.00B | 3.04B | 2.01B |
| Gross Profit | 464.09M | 490.56M | 394.56M | 259.26M | 189.11M | 189.22M |
| EBITDA | -108.57M | -22.81M | 15.54M | -197.02M | -296.23M | -212.22M |
| Net Income | -207.02M | -146.48M | 110.50M | -180.44M | -291.00M | -205.70M |
Balance Sheet | ||||||
| Total Assets | 1.27B | 1.24B | 1.00B | 922.67M | 907.66M | 365.53M |
| Cash, Cash Equivalents and Short-Term Investments | 875.94M | 746.27M | 850.09M | 806.34M | 832.24M | 295.38M |
| Total Debt | 24.94M | 42.49M | 57.71M | 39.81M | 0.00 | 0.00 |
| Total Liabilities | 432.60M | 488.36M | 3.43B | 3.28B | 2.78B | 1.85B |
| Stockholders Equity | 839.29M | 747.06M | -2.43B | -2.35B | -1.87B | -1.48B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 1.05M | 42.62M | -90.24M | -200.14M | -161.96M |
| Operating Cash Flow | 0.00 | 2.19M | 45.71M | -86.82M | -194.91M | -155.48M |
| Investing Cash Flow | 0.00 | -498.04M | 26.05M | 461.38M | -624.88M | -6.38M |
| Financing Cash Flow | 0.00 | 433.51M | -359.00K | 0.00 | 743.38M | 0.00 |
BingEx Ltd. ADR Technical Analysis
Neutral
3.20
Price Trends
2.74
Negative
2.96
Negative
3.11
Negative
Market Momentum
-0.04
Negative
50.40
Neutral
29.01
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FLX, the sentiment is Neutral. The current price of 3.2 is above the 20-day moving average (MA) of 2.56, above the 50-day MA of 2.74, and above the 200-day MA of 3.11, indicating a neutral trend. The MACD of -0.04 indicates Negative momentum. The RSI at 50.40 is Neutral, neither overbought nor oversold. The STOCH value of 29.01 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for FLX.
BingEx Ltd. ADR Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
63 Neutral | $368.52M | 13.99 | 6.24% | ― | 16.42% | 79.46% | |
62 Neutral | $84.15M | 6.57 | 9.73% | ― | 21.10% | 31.75% | |
58 Neutral | $1.65B | 12.64 | -22.82% | 2.82% | -35.52% | ― | |
58 Neutral | $193.25M | -7.95 | -10.08% | ― | ― | ― | |
49 Neutral | $162.96M | 4.81 | 13.49% | ― | -13.66% | -746.83% | |
45 Neutral | $83.21M | -6.58 | -37.28% | ― | 27.55% | -42.84% |
* Industrials Sector Average
FLX
BingEx Ltd. ADR
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1.71%
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BingEx Ltd. ADR Corporate Events
BingEx Limited Reports Q3 2025 Financial Results Amid Market Challenges
Nov 19, 2025
On November 19, 2025, BingEx Limited announced its unaudited financial results for the third quarter ending September 30, 2025. The company reported revenues of RMB1,005.4 million, a decrease from the previous year due to intensified market compet...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.