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BingEx Ltd. ADR (FLX)
:FLX
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BingEx Ltd. ADR
(NASDAQ:FLX)
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Rating:45Neutral
Price Target:
$3.00
▼(-7.98% Downside)
The overall stock score of 45 reflects significant financial challenges and bearish technical indicators. Despite some positive developments from the earnings call, such as strategic innovations and a healthy cash position, the company's negative valuation metrics and declining revenue weigh heavily on the score.
BingEx Ltd. ADR (FLX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$222.53M
Dividend YieldN/A
Average Volume (3M)93.83K
Price to Earnings (P/E)―
Beta (1Y)2.48
Revenue Growth-13.66%
EPS Growth-746.83%
CountryUS
Employees1,046
SectorIndustrials
Sector Strength72
IndustryIntegrated Freight & Logistics
Share Statistics
EPS (TTM)0.03
Shares Outstanding55,937,317
10 Day Avg. Volume131,194
30 Day Avg. Volume93,825
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 Cap0.46
Enterprise Value/Revenue0.03
Enterprise Value/Gross Profit0.22
Enterprise Value/Ebitda-0.95
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)2.24
Revenue Forecast (FY)$3.82B
BingEx Ltd. ADR Business Overview & Revenue Model
Company Description
How the Company Makes Money
BingEx Ltd. ADR Earnings Call Summary
Earnings Call Date:Nov 19, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Mar 18, 2026
Earnings Call Sentiment Neutral
The earnings call revealed several positive developments, including a healthy cash position, enterprise client expansion, and innovations in delivery systems. However, these were counterbalanced by a decline in revenue and gross profit, as well as decreased other income due to competitive pressures and reduced government grants.Q3-2025 Updates
Positive Updates
Steady Financial Performance
FlashEx recorded total revenue of RMB 1 billion with a gross margin of 11%. Adjusted net profit reached RMB 62.6 million, representing a 9% increase year-over-year. Cash position was healthy at RMB 877.9 million.
Enterprise Client Expansion
Actively pursued outreach and partnership opportunities with enterprise clients, which offer long life cycles and high retention rates, driving steady and stable business growth.
Innovation in Delivery
Collaborated with Hangzhou's Yuhang District government for a citywide low-altitude logistics delivery solution, positioning FlashEx as an early leader in urban drone delivery systems.
User Engagement and Service Expansion
Expanded service offerings for individual users in the FlashEx APP, leading to a 15% increase in daily delivery volume from the previous quarter.
Negative Updates
Decline in Revenue
Revenues for the third quarter were RMB 1,005.4 million compared to RMB 1,154.8 million in the same period of 2024, reflecting lower order volumes due to competitive pressures.
Reduction in Gross Profit
Gross profit was RMB 111.8 million for the third quarter compared with RMB 130.3 million in the same period of 2024, with gross profit margin at 11.1%.
Decrease in Other Income
Other income was RMB 2.5 million for the third quarter compared with RMB 5.8 million in the same period of 2024, primarily due to a lower amount of government grants.
Company Guidance
In the third quarter of 2025, FlashEx, the publicly listed entity of BingEx, reported robust financial performance and strategic advancements despite external challenges. Total revenue reached RMB 1 billion, with a gross margin of 11%, and an adjusted net profit of RMB 62.6 million, marking a 9% increase year-over-year. The company's cash position was strong at RMB 877.9 million. Operationally, FlashEx enhanced its on-demand dedicated courier model by expanding service categories, improving dispatch algorithms, and introducing initiatives like a VIP support team for high-frequency merchant customers. These efforts bolstered user engagement and satisfaction, contributing to stable, predictable revenue. Additionally, FlashEx's focus on high-value sectors and strategic partnerships, including a citywide low-altitude logistics delivery solution, positioned the company for sustainable growth. Non-GAAP net margin improved to 6.2%, and shareholders’ equity increased to RMB 839.3 million, underscoring the company's resilient financial health.BingEx Ltd. ADR Financial Statement Overview
Summary
BingEx Ltd. ADR faces significant financial challenges, with inconsistent revenue growth and persistent profitability issues. The balance sheet shows high leverage and negative equity, which could pose risks to financial stability. While there have been improvements in cash flow, the overall financial health of the company remains concerning, requiring strategic measures to enhance profitability and stabilize the balance sheet.Income Statement
BingEx Ltd. ADR has shown inconsistent revenue growth with a decline in the most recent year. The company has struggled with profitability, evidenced by negative EBIT and EBITDA margins in recent years, although there was a brief improvement in 2023. The net profit margin has also been negative, indicating ongoing challenges in achieving profitability.45
Neutral
Balance Sheet
The balance sheet of BingEx Ltd. ADR reveals a high level of leverage, with a negative stockholders' equity indicating potential financial instability. The debt-to-equity ratio is not applicable due to negative equity, but the company has managed to maintain a positive cash position. The equity ratio is negative, highlighting significant liabilities compared to assets.40
Negative
Cash Flow
Cash flow analysis shows some improvement, with positive free cash flow in the latest year after several years of negative figures. However, the operating cash flow to net income ratio is low, indicating challenges in converting income into cash. The company has managed to reduce capital expenditures, which has helped improve free cash flow.50
Neutral
| 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
Negative
3.26
Price Trends
3.36
Negative
3.27
Negative
4.00
Negative
Market Momentum
-0.09
Positive
45.67
Neutral
39.85
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FLX, the sentiment is Negative. The current price of 3.26 is below the 20-day moving average (MA) of 3.43, below the 50-day MA of 3.36, and below the 200-day MA of 4.00, indicating a bearish trend. The MACD of -0.09 indicates Positive momentum. The RSI at 45.67 is Neutral, neither overbought nor oversold. The STOCH value of 39.85 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 |
|---|---|---|---|---|---|---|---|
72 Outperform | $74.74M | 6.48 | 9.93% | ― | 21.10% | 31.75% | |
68 Neutral | $278.97M | 18.88 | 6.94% | ― | 16.42% | 79.46% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
62 Neutral | $200.93M | ― | -3.26% | ― | ― | ― | |
46 Neutral | $175.15M | -8.10 | -43.54% | ― | 27.55% | -42.84% | |
45 Neutral | $222.53M | ― | -32.30% | ― | -13.66% | -746.83% | |
45 Neutral | $1.54B | 22.28 | ― | 3.12% | -35.52% | ― |
* Industrials Sector Average
FLX
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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 competition. Despite the revenue decline, the company achieved a net income of RMB43.7 million, a significant improvement from the previous year’s net loss. The company continued to expand its business reach and scope, repurchasing approximately 1.6 million ADSs as part of its share repurchase program. BingEx remains focused on strengthening its market position and delivering sustainable value to stakeholders.
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.