Core Viewpoint - BingEx Limited, a leading on-demand dedicated courier service provider in China, reported its unaudited financial results for Q1 2025, highlighting a strategic focus on enhancing service quality and expanding market penetration, particularly in lower-tier cities [1][3]. Financial Performance - Revenues for Q1 2025 were RMB 960.8 million (US$ 132.4 million), a decrease from RMB 1,107.7 million in Q1 2024, primarily due to a decline in order volume amid intensified market competition [4][8]. - Gross profit was RMB 126.7 million (US$ 17.5 million), compared to RMB 130.3 million in the same period of 2024, with a gross profit margin of 13.2%, up from 11.8% year-over-year [5][8]. - The company reported a net loss of RMB 10.3 million (US$ 1.4 million) in Q1 2025, a significant decline from a net income of RMB 64.6 million in Q1 2024 [10][11]. Operating Expenses - Total operating expenses increased by 27.0% to RMB 116.7 million (US$ 16.1 million) from RMB 91.9 million in Q1 2024 [5]. - Selling and marketing expenses rose by 10.0% to RMB 49.3 million (US$ 6.8 million), attributed to higher share-based compensation and staff costs [6]. - General and administrative expenses surged by 46.9% to RMB 37.9 million (US$ 5.2 million), mainly due to increased professional fees and share-based compensation [7]. Operational Metrics - The number of orders fulfilled in Q1 2025 was 58.0 million [8]. - Cash and cash equivalents, along with restricted cash and short-term investments, totaled RMB 787.2 million (US$ 108.5 million) as of March 31, 2025 [12]. Strategic Focus - The company emphasized a user-centric approach to deepen understanding of diverse user needs and preferences, while exploring innovative cross-industry collaborations to enhance brand awareness [3]. - The commitment to advancing the on-demand, dedicated courier model aims to deliver a more convenient and reliable experience to a broader user base [3].

Group 1 - BingEx Limited will report its first quarter 2025 unaudited financial results on May 22, 2025, before the U.S. market opens [1] - An earnings conference call is scheduled for May 22, 2025, at 8:00 PM Beijing Time (8:00 AM U.S. Eastern Time) to discuss the results [1] - Participants must pre-register for the conference call to receive dial-in numbers and a personal PIN [2] Group 2 - BingEx Limited is a pioneer in providing on-demand dedicated courier services in China, branded as "FlashEx" [3] - The company focuses on superior time certainty, delivery safety, and service quality for both individual and business customers [3] - BingEx aims to enhance people's lives through its services and is committed to delivering a superior customer experience [3]

Group 1 - BingEx Limited, a leading on-demand dedicated courier service provider in China, filed its annual report on Form 20-F for the fiscal year ended December 31, 2024, with the SEC on April 25, 2025 [1] - The annual report includes audited consolidated financial statements and is available electronically on the company's investor relations website and the SEC's website [1][2] - BingEx Limited operates under the brand "FlashEx," which has become synonymous with on-demand dedicated courier services in China, focusing on superior time certainty, delivery safety, and service quality [3] Group 2 - The company is committed to enhancing customer experience and providing a unique value proposition to all participants in its business [3] - Shareholders and ADS holders can request a hard copy of the annual report free of charge by contacting the Investor Relations Department [2]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024. OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1 ...

Financial Data and Key Metrics Changes - In Q4 2024, total revenue was RMB1 billion, with a gross margin increase to 10%, a 1.4 percentage point year-on-year rise [5][21] - For the full year 2024, total revenue remained steady at RMB4.5 billion, with a gross margin increase of 2.3 percentage points and a non-GAAP net profit surge of 82% compared to the previous year [6][21] - Average gross profit per order rose by 21% year-on-year, reflecting operational efficiency improvements [6] Business Line Data and Key Metrics Changes - The company achieved a gross profit of RMB102.9 million in Q4 2024, with a full-year gross profit of RMB499.6 million, representing a year-on-year increase of 24.3% [22] - Non-GAAP income from operations for the full year 2024 soared to RMB134.3 million from RMB10.6 million in 2023 [23] Market Data and Key Metrics Changes - By the end of 2024, FlashX's services spanned 295 cities in China, supported by a network of 2.8 million registered riders and 100 million users [9] - The total number of orders fulfilled in 2024 reached 277 million, marking an increase from 2023 [9] Company Strategy and Development Direction - FlashX remains committed to its on-demand dedicated courier model, focusing on operational efficiency and service quality to maintain its market leadership [10][25] - The company plans to enhance its business operations by optimizing processes, leveraging big data analytics, and implementing a category-driven strategy to address unique delivery challenges [30][31] Management's Comments on Operating Environment and Future Outlook - Management noted that recent government initiatives have strengthened consumer confidence, leading to increased demand for on-demand delivery services [29] - The outlook for 2025 is positive, with expectations of sustained growth driven by macroeconomic recovery and the rise of new e-commerce formats [35] Other Important Information - FlashX has established 11 riders' homes across 10 cities, providing services such as rest and vehicle maintenance to support rider welfare [42] - The company has partnered with merchants to create over 3,600 rider energy stations, enhancing support for riders during their busy hours [43] Q&A Session Summary Question: What is the outlook on industry demand for 2025? - Management expects demand growth to remain resilient, supported by macroeconomic recovery and the deepening of e-commerce penetration [35] Question: What is the assessment of the competitive landscape of the industry this year? - The competitive dynamic will persist, but leading companies focusing on quality and customer experience will maintain a distinct advantage [40] Question: What is the company's stance on assisting riders with their social insurance? - FlashX is committed to safeguarding riders' rights and welfare, actively fostering a strong sense of professional pride among its workforce [42]

Core Insights - BingEx Limited, operating under the brand "FlashEx," reported its financial results for Q4 and the fiscal year 2024, highlighting a solidified leadership position in the on-demand delivery market in China [1][3]. Financial Performance - In Q4 2024, revenues were RMB1,028.9 million (US$141.0 million), a decrease from RMB1,212.3 million in Q4 2023, primarily due to a reduction in fulfilled orders [4][7]. - For the full year 2024, revenues totaled RMB4,468.2 million (US$612.1 million), slightly down from RMB4,528.8 million in 2023 [7][12]. - Gross profit for Q4 2024 was RMB102.9 million (US$14.1 million), compared to RMB103.9 million in Q4 2023, with a gross profit margin of 10.0%, up from 8.6% year-over-year [6][7]. - The full year gross profit increased by 24.3% to RMB490.6 million (US$67.2 million), with a gross profit margin of 11.0%, compared to 8.7% in 2023 [13]. Operational Metrics - The total number of fulfilled orders for 2024 reached 277.2 million, representing a 2.4% increase year-over-year [7]. - The company had 2.8 million registered riders and 100.1 million users by year-end 2024, with services extended across 295 cities in China [3]. Expenses and Losses - Total operating expenses in Q4 2024 were RMB255.6 million (US$35.0 million), a significant increase of 179.5% from RMB91.5 million in Q4 2023, largely due to share-based compensation expenses [6][10]. - The net loss for Q4 2024 was RMB294.0 million (US$40.3 million), compared to a net income of RMB33.5 million in the same period of 2023 [12][18]. - For the full year, the net loss was RMB146.5 million (US$20.1 million), down from a net income of RMB110.5 million in 2023 [18]. Share Repurchase Program - The board of directors approved a share repurchase program allowing the company to buy back up to US$30.0 million worth of its shares from March 12, 2025, to March 31, 2026 [20].

Core Viewpoint - BingEx Limited, a leading on-demand dedicated courier services provider in China, is set to report its fourth quarter and fiscal year 2024 unaudited financial results on March 12, 2025, before U.S. market opening [1] Group 1 - The earnings conference call will take place on March 12, 2025, at 8:00 PM Beijing Time (8:00 AM U.S. Eastern Time) to discuss the financial results [1] - Participants must pre-register for the conference call to receive dial-in numbers and a personal PIN [2] - A live webcast of the conference call will be available on the company's investor relations website, with a replay accessible after the session [2] Group 2 - BingEx Limited is recognized as a pioneer in providing on-demand dedicated courier services in China, branded as "FlashEx" [3] - The company emphasizes superior time certainty, delivery safety, and service quality in its offerings [3] - BingEx aims to enhance people's lives through its services and is committed to delivering a superior customer experience [3]

Core Viewpoint - BingEx Limited reported strong financial results for the third quarter of 2024, demonstrating resilience in a competitive market with significant year-over-year growth in gross profit and operational efficiency [3][4]. Financial Performance - Revenues for Q3 2024 were RMB1,154.8 million (US$164.6 million), a decrease from RMB1,194.3 million in Q3 2023 [4]. - For the nine months ended September 30, 2024, revenues totaled RMB3,439.3 million (US$490.1 million), reflecting a year-over-year increase of 3.7% [2]. - Gross profit for Q3 2024 was RMB130.3 million (US$18.6 million), up 20.9% from RMB107.8 million in Q3 2023, with a gross profit margin of 11.3%, improving from 9.0% [5][2]. - Income from operations was RMB46.2 million (US$6.6 million) in Q3 2024, with an operating margin of 4.0%, compared to RMB16.6 million and 1.4% in Q3 2023 [7][2]. - Net income for Q3 2024 was RMB23.8 million (US$3.4 million), with a net income margin of 2.1%, down from 2.9% in the same period last year [8][2]. - Non-GAAP net income for Q3 2024 was RMB57.6 million (US$8.2 million), with a Non-GAAP net income margin of 5.0%, compared to 2.9% in Q3 2023 [9][2]. Operational Highlights - The number of orders fulfilled in the nine months ended September 30, 2024, was 211.4 million, representing a 7.1% increase year-over-year, with 73.3 million orders fulfilled in Q3 [2]. - Total operating expenses decreased by 7.8% to RMB84.2 million (US$12.0 million) in Q3 2024 from RMB91.2 million in Q3 2023 [5][6]. Strategic Initiatives - The company has adopted a 2024 Share Incentive Plan to incentivize personnel, allowing for the issuance of up to 10,669,486 Class A ordinary shares, with annual increases based on the total number of shares outstanding [11].

Company Announcement - BingEx Limited will report its third quarter 2024 unaudited financial results on November 27, 2024, before the U.S. market opens [1] - An earnings conference call is scheduled for November 27, 2024, at 8:00 PM Beijing Time (7:00 AM U.S. Eastern Time) to discuss the results [1] Conference Call Details - Participants must pre-register for the conference call via a provided link to receive dial-in numbers and a personal PIN [2] - A live webcast of the conference call will be available on the Company's investor relations website, with a replay accessible after the session [2] Company Overview - BingEx Limited, trading on Nasdaq under the symbol FLX, is a leading provider of on-demand dedicated courier services in China, branded as "FlashEx" [3] - The company focuses on delivering superior time certainty, delivery safety, and service quality, aiming to enhance customer experience and provide unique value [3]

成立于2014年的闪送专注于为个人和企业客户提供一对一专送服务。截至2024年6月30日，闪送的 业务范围覆盖国内295座城市，注册骑手约270万。 一周IPO动态，覆盖港股、美股、A股。 本文为IPO早知道原创 作者｜C叔 微信公众号｜ipozaozhidao 闪送 美股｜挂牌上市 据IPO早知道消息，BingEx Limited（闪送必应有限公司，以下简称"闪送"）于北京时间2024年10 月4日正式以"FLX"为股票代码在纳斯达克挂牌上市。 闪送在本次IPO中总计发行400万股美国存托股票（ADS），每股16.5美元的发行价位于发行区间高 端，德意志银行、中金公司和中信里昂证券担任联席承销商，承销商另享有60万股ADS的超额配售 权。以发行价计算，闪送通过本次IPO募集6600万美元（不计"绿鞋机制"），若执行"绿鞋机制"后的 募资规模至多为7590万美元。 值得注意的是，闪送在2023年实现了1.10亿元的净利润。今年上半年，闪送的净利润从2023年同期 的0.42亿元增加至1.24亿元。 更多详情： 闪送正式登陆纳斯达克： 市值超11亿美元，一对一专送快递行业发展前景可观 卡罗特 港股｜挂牌上市 根 ...