BingEx (Nasdaq:FLX) Posts Q2 2025 Revenue of RMB1,024.6Mn, Updates Share Repurchase Program

2 min read | August 19, 2025 10:40 PM PDT | By Sonal Goyal

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BingEx (Nasdaq:FLX) Posts Q2 2025 Revenue of RMB1,024.6Mn, Updates Share Repurchase Program — Image source: © 2025 Krish Capital Pty. Ltd.

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Highlights

Revenue of FLX reached RMB1,024.6 million (US$143.0 million), compared with RMB1,176.7 million in Q2 2024.

Gross profit margin improved to 12.0% from 10.8% in Q2 2024.

Net income attributable to ordinary shareholders rose to RMB53.5 million (US$7.5 million), up from RMB22.3 million in Q2 2024.

BingEx Limited (Nasdaq:FLX), a provider of on-demand dedicated courier services in China operating under the brand “FlashEx,” announced its unaudited financial results for the second quarter ended June 30, 2025.

Revenues for the quarter were reported at RMB1,024.6 million (US$143.0 million), compared with RMB1,176.7 million in the same period last year. The decline was attributed to lower order volumes amid intensified industry competition.

The company recorded a gross profit of RMB122.7 million (US$17.1 million), compared with RMB127.0 million in Q2 2024. Gross profit margin improved to 12.0% from 10.8% in the prior-year period, supported by cost reductions in line with the revenue trend.

BingEx fulfilled 64.8 million orders during the second quarter of 2025.

Operating Expenses and Profitability

Total operating expenses increased to RMB103.4 million (US$14.4 million), up 22.1% from RMB84.7 million in Q2 2024.

Selling and marketing expenses rose to RMB48.2 million (US$6.7 million), compared with RMB44.9 million in the prior-year period, largely due to higher share-based compensation.
General and administrative expenses increased to RMB36.0 million (US$5.0 million), from RMB19.7 million in Q2 2024, driven by professional fees and share-based compensation.
Research and development expenses remained stable at RMB19.2 million (US$2.7 million), compared with RMB20.1 million in Q2 2024.

Income from operations was RMB19.3 million (US$2.7 million), compared with RMB42.3 million in the same period last year. Non-GAAP income from operations was RMB31.9 million (US$4.5 million), compared with RMB42.3 million in Q2 2024.

Net Income and Shareholder Returns

Net income for the second quarter of 2025 was RMB53.5 million (US$7.5 million), compared with RMB59.1 million in the same period last year. Non-GAAP net income was RMB45.6 million (US$6.4 million), compared with RMB59.1 million in Q2 2024.

Net income attributable to ordinary shareholders increased to RMB53.5 million (US$7.5 million), compared with RMB22.3 million in Q2 2024. On a non-GAAP basis, net income attributable to ordinary shareholders was RMB45.6 million (US$6.4 million), compared with RMB22.3 million in Q2 2024.

Share Repurchase Program

Under its share repurchase program announced in March 2025, with a maximum allocation of up to US$30 million and effective through April 2026, BingEx repurchased approximately 0.8 million ADSs in the open market as of August 18, 2025. The aggregate consideration was approximately US$2.6 million, at an average price of US$3.1 per ADS.

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