# BingEx Limited Reports Increase in Expenses and Decline in Income

## General and Administrative Expenses

General and administrative expenses reached RMB37.9 million (US$5.2 million), marking a 46.9% increase from RMB25.8 million in the same period of 2024. The rise is mainly due to higher professional fees and share-based compensation expenses.

## Research and Development Expenses

Research and development expenses were RMB29.5 million (US$4.1 million), a 38.8% increase from RMB21.2 million in the same period of 2024. This increase was largely driven by greater share-based compensation expenses.

## Income from Operations

Income from operations decreased to RMB10.0 million (US$1.4 million), down from RMB38.4 million in the same period of 2024.

## Non-GAAP Income from Operations

Non-GAAP income from operations was RMB26.6 million (US$3.7 million), also down from RMB38.4 million in the same period of 2024.

## Changes in Fair Value of Long-Term Investments

The changes in fair value of long-term investments resulted in a loss of RMB43.3 million (US$6.0 million), primarily due to losses reflected in the fair value measurement of these investments.

## Other Income

Other income fell to RMB9.9 million (US$1.4 million), down from RMB19.0 million in the same period of 2024. This decline was largely attributed to a decrease in government grants.

## Net Loss

The net loss for the period was RMB10.3 million (US$1.4 million), contrasting with a net income of RMB64.6 million in the same period of 2024.

## Non-GAAP Net Income

Non-GAAP net income amounted to RMB49.6 million (US$6.8 million), down from RMB64.6 million in the same period of 2024.

## Loss Attributable to Ordinary Shareholders

The net loss attributable to ordinary shareholders was RMB10.3 million (US$1.4 million), compared to a net income of RMB27.8 million from the same period in 2024.

## Basic and Diluted Net Loss Per Share

The basic and diluted net loss per ordinary share was RMB0.05 (US$0.01).

## Cash Position

As of March 31, 2025, cash and cash equivalents, restricted cash, and short-term investments totaled RMB787.2 million (US$108.5 million).

### Note on Non-GAAP Financial Measures

Non-GAAP income from operations, non-GAAP net income, and related measures are presented for supplemental analysis. For detailed information, see the section on “Use of Non-GAAP Financial Measures.”

## Conference Call

BingEx Limited will hold an earnings conference call on Thursday, May 22, 2025, at 8:00 PM Beijing Time (8:00 AM U.S. Eastern Time) to discuss these results. Interested participants must pre-register for the call.

### Registration Link
[Register here](https://register-conf.media-server.com/register/BIf746a9c2a4894900be333315bee147bb)

A live webcast of the conference call will be available on the Company’s investor relations website.

## About BingEx Limited

BingEx Limited (Nasdaq: FLX) specializes in on-demand dedicated courier services in China. It aims to improve lives through its service, known as “FlashEx.”

### Use of Non-GAAP Financial Measures

Non-GAAP metrics help evaluate operational performance by excluding certain non-cash charges like share-based compensation. These measures are intended to provide a clearer view of operational trends.

### Exchange Rate Information

Translations of RMB amounts to U.S. dollars (USD) were made at the rate of RMB7.2567 to US$1.00 as of March 31, 2025.

## Safe Harbor Statement

This announcement includes forward-looking statements subject to risks and uncertainties. Actual results may differ materially from these statements. Additional risks are outlined in the Company’s filings.# BingEx Limited Reports Financial Position with March 2025 Data

On October 3, 2023, BingEx Limited released its unaudited condensed consolidated balance sheets for the periods ending December 31, 2024, and March 31, 2025. This financial data provides insights into the company’s liquidity and asset management strategies. Below are key highlights from the report.

Summary of Financial Performance

The data illustrates BingEx’s financial position across various asset categories, indicating both growth and stability. The report includes balances for cash and cash equivalents, restricted cash, and short-term investments, among others.

Assets Overview

BINGEX LIMITED UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Amounts in thousands, except for number of shares and per share data)
		December 31, 2024		March 31, 2025
		RMB		RMB		USD
ASSETS
Current Assets
Cash and cash equivalents		592,358		531,992		73,310
Restricted cash		46,735		17,055		2,350
Short-term investments		153,910		238,165		32,820
Accounts receivable		16,893		21,311		2,937
Prepayments and other current assets		48,553		29,856		4,114
Total Current Assets

Contact Information

Investor Relations Contact

In China:

BingEx Limited
Investor Relations
E-mail: [email protected]

Piacente Financial Communications

Helen Wu
Tel: +86-10-6508-0677
E-mail: [email protected]

In the United States:

Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
E-mail: [email protected]

All financial details provided in this release are current as of the date mentioned. The Company does not commit to updating these figures beyond legal requirements.

# Company Financials Show Robust Growth in Current Assets and Liabilities

### Overview of Current Financial Performance

Recent financial data indicates a strong position in current assets compared to previous periods. Notably, the figures reflect consistent growth and a steady trend in the company’s balance sheet.

### Key Financial Data

| Item | Current Year | Previous Year | Change |
|———————————|—————|—————-|————–|
| **Total Current Assets** | 858,449 | 838,379 | +20,070 |
| **Cash and Cash Equivalents** | 115,531 | N/A | N/A |
| **Long-term Investments** | 324,110 | 280,734 | +43,376 |
| **Property and Equipment, Net** | 3,687 | 3,227 | +460 |
| **Lease Right-of-Use Assets** | 44,577 | 41,269 | +3,308 |

### Non-Current Assets Performance

The total of non-current assets also reflects growth, further strengthening the overall asset base.

| Item | Current Year | Previous Year | Change |
|———————————|—————|—————-|————–|
| **Total Non-Current Assets** | 376,974 | 329,832 | +47,142 |
| **Other Non-Current Assets** | 4,600 | 4,602 | -2 |

### Summary of Total Assets

The aggregate total of assets indicates a positive financial trajectory:

| Item | Current Year | Previous Year | Change |
|—————–|—————|—————-|————–|
| **Total Assets**| 1,235,423 | 1,168,211 | +67,212 |

### Liabilities Overview

The analysis of liabilities reveals a strategic management approach, with current liabilities highlighted for investor attention.

| Item | Current Year | Previous Year | Change |
|——————————-|—————|—————-|————-|
| **Current Liabilities** | (data pending) | (data pending) | (data pending) |
| **Accounts Payable** | 223,391 | 191,489 | +31,902 |

### Conclusion

In summary, the company exhibits strong growth in both current and non-current assets, with total assets increasing significantly year-over-year. The performance of current liabilities, particularly accounts payable, suggests effective management practices. Further monitoring in upcoming quarters will provide more insights into long-term stability and profitability.# Bingex Limited Reports Financial Position: Key Figures Revealed

## Total Current Liabilities

– **Current Liabilities Overview:**
– Total current liabilities stood at **$458,964** for the current reporting period, up from **$389,434** in the prior period, indicating a rise of **$69,530**.

– **Specific Liability Breakdown:**
– Operating lease liabilities (current): **$13,091** vs. **$13,154**
– Accrued expenses and other liabilities totaled **$165,714** compared to **$133,178** in the previous reporting period, an increase of **$32,536**.

## Total Non-Current Liabilities

– **Long-Term Commitments:**
– Non-current liabilities also reflected a significant amount, totaling **$29,395**, slightly lower than the former total of **$26,459**.

## Overall Liabilities Summary

– **Comprehensive Liability Insights:**
– Combining both current and non-current liabilities, total liabilities were reported at **$488,359**, representing growth from **$415,893** previously.

## Shareholders’ Equity

– **Equity Valuation:**
– Shareholders’ equity was noted at **$747,064**, a drop from **$752,318** last period, marking a decrease of **$5,254**.

## Conclusion

– **Total Financial Position:**
– The overall total assets and shareholders’ equity reached **$1,235,423**, compared to **$1,168,211** previously, indicating a robust financial stance with total assets increasing by **$67,212**.

In reviewing these figures, Bingex Limited appears to be navigating its financial commitments while maintaining a solid base in assets and equity. These data points provide a clear perspective on the company’s operational health and fiscal responsibilities.# Financial Overview for Q1 2024: Key Insights and Performance Data

## Three Months Ended: March 31

### Financial Summary

| | | **2024** | | **2025** | | **2025** | |
|—————-|—————————-|———-|—————-|———-|—————-|———–|—————-|
| | **RMB** | | | **USD** | |
| **Revenues** | | 1,107,748| | 960,762 | | 132,397 |
| **Cost of Revenues** | | (977,421)| | (834,088)| | (114,940) |
| **Gross Profit** | | 130,327 | | 126,674 | | 17,457 |

### Operating Expenses

#### Overview of Expenses

| | | **2024** | | **2025** | | **2025** |
|————————————|———|———-|——|———-|——-|———-|
| **Operating Expenses:** | | | | | | |
| Selling and marketing expenses | | (44,864) | | (49,334) | | (6,798) |
| General and administrative expenses | | | | | | |

The financial data presented here reflects the performance for the first quarter ending March 31, 2024. The revenue figures indicate a total of **1,107,748 RMB**, while the cost of revenues stands at **(977,421 RMB)**, resulting in a gross profit of **130,327 RMB**. A comparison to the previous fiscal year shows that revenues were **960,762 RMB** with costs at **(834,088 RMB)**, indicating shifts in performance metrics.

### Key Highlights

1. **Revenue Growth**: This quarter’s revenue demonstrates a clear upward trend compared to the previous year.

2. **Cost Management**: An increase in cost of revenues signifies a need for enhanced management strategies moving forward.

3. **Profitability Focus**: Maintaining and improving the gross profit margin will be vital in the upcoming quarters.

These figures provide a snapshot of the company’s financial health, essential for stakeholders and analysts focusing on future performance and strategic developments.# Financial Summary: Operating Expenses, Income Sources, and Investment Impact

(25,801)	)		(37,897)	)		(5,222)	)
Research and development expenses		(21,234)	)		(29,482)	)		(4,063)	)
Total operating expenses		(91,899)	)		(116,713)	)		(16,083)	)
Income from operations		38,428			9,961			1,374
Interest income		6,010			4,291			591
Changes in fair value of long-term investments		—			(43,258)	)		(5,961)	)
Investment income		1,100			8,912			1,228
Other income		19,030

“`html

Financial Results Highlight Declines Across Key Metrics

		9,860			1,359
Income (loss) before income taxes		64,568			(10,234	)		(1,409	)
Income tax expense		—			(35	)		(5	)
Net income (loss)		64,568			(10,269	)		(1,414	)
Accretion of redeemable convertible preferred shares to redemption value		(36,775	)		—			—
Net income ( loss ) attributable to ordinary shareholders		27,793			(10,269	)		(1,414	)
Net earnings (loss) per ordinary share
— Basic

“`# Bingex Limited Reports Q1 Results with Key Financial Insights

## Financial Highlights

**Class A and B Shares: Basic and Diluted Earnings**

– **Earnings per Share (EPS):** The reported EPS for Class A is **$0.14**. In comparison, the previous figures were **($0.05)** (basic) and **($0.01)** (diluted).

### Weighted Average Shares Outstanding
– **Basic and Diluted for Class A:**
– **Basic:** 26,422,222 shares
– **Diluted:** 162,842,256 shares

– **Basic and Diluted for Class B:**
– **Basic:** 45,577,778 shares
– **Diluted:** 45,577,778 shares

## Reconciliation of GAAP and Non-GAAP Results

**Bingex Limited**
### Summary of Financial Data (in thousands)

The following data covers the three months ended March 31 for the years 2024 and 2025:

| | | 2024 | | | 2025 | | 2025 |
|—————–|——————|————-|—————–|—————–|————-|—————–|————-|
| **Category** | **Units (RMB)** | | | **Units (RMB)** | | | **Units (USD)** |
| **Income from Operations:** | 38,428 | | | | | | |

The data provided reflects key operational metrics crucial for assessing Bingex Limited’s financial health.

### Conclusion

Bingex Limited’s financial results for the first quarter highlight significant movements in earnings and share metrics. Investors should monitor progression as these figures could influence future market performance.# Financial Overview: Key Metrics and Insights

9,961			1,374
Add: Share-based compensation expenses	—			16,648			2,294
Non-GAAP income from operations	38,428			26,609			3,668
Operating margin	3.5%			1.0%
Add: Share-based compensation expenses as a percentage of revenues	—			1.7%
Non-GAAP operating margin	3.5%			2.7%
Net income (loss)	64,568			(10,269)			(1,414)

# Financial Overview: Key Changes and Performance Metrics

### Additions in Fair Value of Long-Term Investments
– **Add: Changes in fair value of long-term investments**
    —
    **Total:** 43,258
    **Prior Total:** 5,961

### Share-Based Compensation Expenses
– **Add: Share-based compensation expenses**
    —
    **Total:** 16,648
    **Prior Total:** 2,294

### Non-GAAP Financial Results
– **Non-GAAP net income**
    **Current Total:** 64,568
    **Prior Total:** 49,637
    **Change:** 6,841

### Net Income Margin Analysis
– **Net income (loss) margin**
    **Current Margin:** 5.8%
    **Prior Margin:** -1.1%

### Investment Performance Metrics
– **Add: Changes in fair value of long-term investments as a percentage of revenues**
    —
    **Percentage:** 4.5%

– **Add: Share-based compensation expenses as a percentage of revenues**
    —
    **Percentage:** 1.7%

### Non-GAAP Margin Comparisons
– **Non-GAAP net income margin**
    **Current Margin:** 5.8%
    **Prior Margin:** 5.1%

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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