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BingEx (Nasdaq: FLX) reported its Q3 2024 financial results, showing revenues of RMB1,154.8 million (US$164.6 million). The company achieved a 20.9% year-over-year increase in gross profit to RMB130.3 million, with gross margin improving to 11.3% from 9.0%. Operating income reached RMB46.2 million with a 4.0% margin. For the nine months ended September 30, 2024, revenues grew 3.7% year-over-year to RMB3,439.3 million, with net income increasing 91.6% to RMB147.5 million. The company fulfilled 211.4 million orders during this period, representing a 7.1% increase year-over-year.
BingEx (Nasdaq: FLX), a leading on-demand dedicated courier services provider in China operating under the brand 'FlashEx', has scheduled its third quarter 2024 unaudited financial results announcement for November 27, 2024, before U.S. markets open. The company will host an earnings conference call on the same day at 8:00 PM Beijing Time (7:00 AM U.S. Eastern Time). Interested participants must pre-register for the call, and a live webcast will be available on the company's investor relations website.
BingEx (Nasdaq: FLX), a leading on-demand dedicated courier services provider in China, has announced the pricing of its initial public offering (IPO) of 4,000,000 American Depositary Shares (ADSs) at US$16.50 per ADS. Each ADS represents three Class A ordinary shares of the Company. The gross proceeds from the offering are expected to total US$66.0 million, excluding underwriting discounts and commissions.
BingEx has granted the underwriters a 30-day option to purchase up to 600,000 additional ADSs. The ADSs are set to begin trading on the Nasdaq Stock Market under the symbol 'FLX'. The offering is expected to close on October 7, 2024. Deutsche Bank Securities Inc., China International Capital Hong Kong Securities , and CLSA are acting as the representatives of the underwriters.
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