BingEx Sees Profit Increase in Q2
Financial Performance: BingEx Ltd. reported a significant increase in net income attributable to ordinary shareholders for the second quarter, rising to RMB 53.49 billion from RMB 22.32 billion the previous year.
Earnings Per Share: The earnings per share improved to RMB 0.26 ($0.04), compared to RMB 0.12 in the prior year.
Adjusted Net Income: Adjusted net income also saw an increase, reaching RMB 45.59 million ($6.36) from RMB 22.32 million last year.
Revenue and Operations Decline: Despite the profit increases, revenue declined to RMB 1.02 billion from RMB 1.18 billion, and income from operations decreased to RMB 19.31 million from RMB 42.34 million.
Trade with 70% Backtested Accuracy
Analyst Views on FLX
About FLX
About the author
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.
