在巨头即时零售平台的混战夹击下，闪送还在寻找新的生存空间。 11月19日，一对一急送平台闪送（FLX，股价3.25美元，市值2.31亿美元）发布三季度财务数据。数据 显示，闪送今年三季度收入为10.054亿元（约合1.412亿美元），相比于2024年同期的11.548亿元收入减 少。财报同时披露，闪送三季度订单量为6320万单，相比二季度的6480万单环比减少。 不过其净利润则明显提高，数据显示，第三季度净利润为4370万元（约合610万美元），相比去年同期 增长83.6%。 对于订单量和收入减少的原因，闪送在财报中解释称，主要是市场竞争激烈导致。今年以来，美团、京 东外卖、淘宝闪购等巨头主导的"外卖大战"持续升级，战火进一步蔓延至整个即时配送领域。头部外卖 平台凭借流量优势和补贴力度，不断挤压垂直配送服务商的市场空间，闪送在这一背景下遭遇营收与订 单量的双重压力。 闪送管理层在财报发布后的电话会上表示，随着外卖行业补贴退坡及监管规范化，即时配送正将竞争焦 点从低价转向更好的服务，市场环境更趋稳定，这种环境使闪送能够充分发挥按需专属配送的差异化价 值主张。公司将持续投入资源拓展服务场景，优化用户体验。 订单量 ...

BingEx (NasdaqGS:FLX) Q3 2025 Earnings Call November 19, 2025 07:00 AM ET Company ParticipantsLuke Tang - CFOAdam Xue - Founder, Chairman and CEOHelen Wu - SVPConference Call ParticipantsSaifan Jiang - AnalystOperatorOkay, and welcome to BingEx's 2025 third quarter financial results conference call. Today's conference is being recorded. At this time, I would like to turn the conference over to Helen Wu from Piasante Financial Communications. Please go ahead.Helen WuThank you, Operator. During this call, we ...

Financial Data and Key Metrics Changes - In Q2 2025, the company recorded total revenue of RMB 1.02 billion, a decrease from RMB 1.18 billion in the same period of 2024, primarily due to lower order volumes amid competitive dynamics [18][20] - Gross profit margin increased by 1.2 percentage points year over year to 12%, reflecting improved operational efficiency and cost management [18][19] - Adjusted net profit for the quarter was $45.6 million, down from $59.1 million in Q2 2024 [20] Business Line Data and Key Metrics Changes - The company fulfilled 123 million orders in the first half of 2025, maintaining steady average selling price (ASP) compared to the previous year [27] - The share of CN orders saw a slight positive increase, indicating a stable performance in the business lines [27] Market Data and Key Metrics Changes - The instant delivery industry continued to grow steadily, with flowers and cakes maintaining a significant market share due to unique demand [6][7] - The competitive landscape in the food delivery market remains intense, impacting order volumes and rider supply across the industry [30][33] Company Strategy and Development Direction - The company is focusing on enhancing product and service quality through a tiered operational strategy and in-depth analysis of user groups [5][6] - Plans to expand service offerings and deepen collaborations with high-value merchants are in place to enhance user satisfaction and drive repeat purchases [15][28] - The company aims to integrate its brand into users' daily lives through innovative marketing strategies and scenario-based initiatives [15] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about a recovery in overall order volume in the second half of 2025, as competition stabilizes [28][29] - The company remains committed to optimizing resource allocation and capturing emerging opportunities for sustainable growth [21] Other Important Information - The company has implemented a comprehensive rider support system, including subsidies, training, and rewards, to maintain a stable and efficient delivery team [13][31] - Cash and cash equivalents totaled RMB 827.8 million as of the end of Q2 2025, indicating a healthy cash position [20] Q&A Session Summary Question: Could you please share the company's order volume and ASP for this quarter broken down by 2B and 2C business? How do you project the trend for order volume and ASP in the second half of the year? - The company fulfilled 123 million orders in the first half of 2025, with ASP holding steady compared to last year, and expects a recovery in overall order volume in the second half [27][28] Question: How would you assess rider's thickness and retention metrics? What trajectory should we anticipate for rider incentive budget this year? - The company reported strong registered and new rider numbers, with no notable impact from market fluctuations, and is focusing on optimizing rider productivity through an intelligent dispatch system [30][31]