BingEx Q4 Earnings Call Highlights

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BingEx (NASDAQ:FLX) absorption said the institution is leaning into work prime and operational refinement arsenic contention successful China’s on-demand transportation marketplace remains intense, highlighting dependable profitability improvements successful 2025 alongside initiatives successful AI and drone-enabled “low-altitude” logistics.

Founder, Chairman, and CEO Adam Xue said the on-demand retail and section manner services manufacture has evolved from prioritizing fulfillment velocity to placing much accent connected transportation information and the wide work experience. Xue said this displacement aligns with FlashEx’s on-demand dedicated courier model, which helium described arsenic well-positioned for “high quality, personalized fulfillment.”

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As of the extremity of 2025, Xue said the company’s work web had expanded to 298 cities crossed China, with 31 cardinal registered riders and 120 cardinal registered users. He added that the institution believes “a differential work experience” is its halfway competitory vantage and a operator of semipermanent growth.

Chief Financial Officer Luke Tang said fourth-quarter gross totaled RMB 1 billion, level year-over-year, portion full-year 2025 gross was RMB 4 billion, down from RMB 4.5 cardinal successful 2024. Tang attributed the yearly diminution chiefly to little bid volumes amid intensified competition.

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Despite the gross decline, Tang said gross borderline improved. Gross nett successful the 4th fourth was RMB 107.9 cardinal versus RMB 102.9 cardinal a twelvemonth earlier, with gross borderline rising 0.8 percent points to 10.8%. For the afloat year, gross nett was RMB 469.1 cardinal compared with RMB 490.6 cardinal successful 2024, and gross borderline accrued 0.8 percent points to 11.8%.

Cost of revenues for the 4th fourth was RMB 893.4 million, down 3.5% year-over-year. For the afloat year, outgo of revenues declined 11.4% to RMB 3.5 billion, which Tang said chiefly aligned with little revenues.

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On profitability, absorption emphasized non-GAAP results. Tang said FlashEx achieved non-GAAP nett income profitability for the 3rd consecutive year, with the full-year 2025 non-GAAP nett borderline rising to 5% from 4.5% successful 2024. Non-GAAP nett income accrued 107% year-over-year to RMB 41.6 cardinal successful the 4th quarter, portion full-year non-GAAP nett income totaled RMB 199.4 million.