BingEx Earnings Call Transcripts
Fiscal Year 2025
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Revenue for 2025 was RMB 4 billion, with gross margin rising to 11.8% and adjusted net profit nearly RMB 200 million. Order volume and ASP are expected to remain stable in 2026, while AI and drone delivery initiatives drive operational efficiency and service innovation.
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Revenue for Q2 2025 was RMB 1.02 billion, with gross margin rising to 12% despite lower order volumes. Operational efficiency, expanded services, and strong rider support helped maintain profitability and position the company for growth as competition stabilizes.
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Revenue declined year-over-year due to fewer orders amid competition, but gross margin improved to 13.2% and non-GAAP net income reached RMB 49.6 million. Service quality, technology investment, and rider support initiatives strengthened brand value and operational efficiency.
Fiscal Year 2024
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Revenue held steady at RMB 4.5 billion in 2024, with non-GAAP net profit up 82% year-over-year. Gross margin and operational efficiency improved, while digital transformation and IPO strengthened market leadership amid intensifying competition.
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Q3 2024 saw strong profitability with gross profit up 20.9% and non-GAAP net income up 64.8% year-over-year, despite a slight revenue dip due to lower ASP and expansion into lower-tier cities. The company completed a successful IPO, maintained robust cash reserves, and continues to focus on cost efficiency and service quality.