BingEx Limited Announces First Quarter 2025 Financial Results
Financial Performance Overview: BingEx Limited reported a revenue of RMB960.8 million (US$132.4 million) for Q1 2025, down from RMB1,107.7 million in Q1 2024, with a net loss of RMB10.3 million compared to a net income of RMB64.6 million in the same period last year.
Strategic Focus and Future Plans: The company aims to enhance service quality and expand its market presence, particularly in lower-tier cities, while maintaining a strong cash position of RMB787.2 million and improving gross profit margins.
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Flex Secures $60 Million Series B Funding to Empower Middle-Market Business Owners
- Funding Achievement: Flex announced the completion of a $60 million Series B funding round led by Portage, bringing its total equity funding to $105 million, reflecting strong investor confidence in its business model.
- Revenue Growth: Over the past 12 months, Flex has quadrupled its revenue, with total payment volume surging from $1 billion to $3 billion, indicating rapid expansion and robust market demand in the fintech sector.
- Product Innovation: The launch of Flex Elite, a new invite-only membership card designed to compete with Amex Centurion, further solidifies its position as the private bank for middle-market business owners, addressing the complex financial needs of high-net-worth clients.
- Strategic Vision: By building an AI-driven financial agent system, Flex aims to provide comprehensive financial management solutions for middle-market business owners, enhancing customer experience and reducing operational costs, thereby achieving sustainable growth.
From Ground to Air: BingEx and Hangzhou Collaborate to Introduce an Advanced Urban Drone Network
Partnership for Low-Altitude Logistics: BingEx Limited has partnered with Hangzhou city and local businesses to launch a city-wide low-altitude logistics network, utilizing drones for efficient urban air logistics in a commercial pilot phase.
Operational Expertise and Future Goals: With over 11 years of experience and a network covering 297 cities, FlashEx aims to establish a scalable low-altitude logistics model in Hangzhou by the end of 2025, enhancing service quality and supporting the development of modern industrial systems.
