BingEx Limited(US:FLX)2025-08-19 10:59Financial Performance - Revenues for Q2 2025 were RMB1,024.6 million (US$143.0 million), a decrease from RMB1,176.7 million in Q2 2024, primarily due to a decline in order volume amid intensified market competition [5][6]. - Net income attributable to ordinary shareholders increased to RMB53.5 million (US$7.5 million) in Q2 2025, compared to RMB22.3 million in the same period last year, reflecting a significant growth [12][13]. - Gross profit margin improved to 12.0% in Q2 2025, up from 10.8% in Q2 2024, despite a decrease in gross profit to RMB122.7 million (US$17.1 million) [5][7]. - Revenues for the three months ended June 30, 2025, were RMB 1,024,558, a decrease of 9.5% compared to RMB 1,176,748 in the same period of 2024 [31]. - Gross profit for the six months ended June 30, 2025, was RMB 249,366, down from RMB 257,317 in 2024, reflecting a decline of 3.1% [31]. - Net income attributable to ordinary shareholders for the three months ended June 30, 2025, was RMB 53,495, compared to RMB 22,316 in the same period of 2024, representing a significant increase of 139.5% [31]. - Non-GAAP net income for the six months ended June 30, 2025, was RMB 95,223, an increase of 24.5% from RMB 76,683 in 2024 [33]. - Basic net earnings per ordinary share for the three months ended June 30, 2025, were RMB 0.26, compared to RMB 0.12 in the same period of 2024, reflecting a 116.7% increase [31]. Operating Expenses - Total operating expenses rose by 22.1% to RMB103.4 million (US$14.4 million) in Q2 2025, driven by increased selling and administrative costs [7][8]. - Operating expenses for the three months ended June 30, 2025, totaled RMB 103,380, an increase of 22% from RMB 84,650 in the same period of 2024 [31]. - The operating margin for the three months ended June 30, 2025, was 1.9%, down from 3.6% in the same period of 2024 [33]. - Non-GAAP operating margin for the three months ended June 30, 2025, was 3.1%, compared to 3.6% in the same period of 2024 [33]. Cash and Investments - Cash and cash equivalents, restricted cash, and short-term investments totaled RMB827.8 million (US$115.6 million) as of June 30, 2025 [15]. - The company has repurchased approximately 0.8 million ADSs for an aggregate consideration of approximately US$2.6 million under its share repurchase program [16]. Market Outlook - The company expects to see more emerging opportunities as the on-demand, dedicated courier market expands, reinforcing its growth strategy [4]. Operational Metrics - The number of orders fulfilled reached 64.8 million in Q2 2025, indicating the company's operational scale [5]. - Research and development expenses remained stable at RMB19.2 million (US$2.7 million) compared to RMB20.1 million in Q2 2024, indicating a focus on maintaining R&D investment [9]. - Non-GAAP net income was RMB45.6 million (US$6.4 million) in Q2 2025, down from RMB59.1 million in the same period of 2024, highlighting the impact of market conditions [13]. - Interest income for the three months ended June 30, 2025, was RMB 3,179, a decrease of 46% from RMB 5,889 in the same period of 2024 [31]. - The weighted average number of shares outstanding used in computing net earnings per ordinary share (diluted) for the three months ended June 30, 2025, was 209,438,670 [31].