Q1 2025 BingEx Ltd Earnings Call Transcript
Key Points
- BingEx Ltd (FLX) recorded total revenue of RMB961 million in Q1 2025, with a gross margin improvement to 13.2%.
- The company completed 58 million orders in Q1 2025, with an increase in gross margin per order.
- BingEx Ltd (FLX) has expanded its service footprint, particularly in lower-tier cities, with nearly 2.86 million registered riders and over 100 million registered users.
- The average delivery time has improved to 26 minutes, significantly faster than the industry average.
- BingEx Ltd (FLX) has enhanced its rider support and recognition program, offering career development opportunities and training resources.
- Revenues for Q1 2025 decreased to RMB960.8 million from RMB1,107.7 million in the same period of 2024 due to a decrease in fulfilled orders.
- Operating expenses for Q1 2025 were RMB116.7 million, with a slight decrease in operating margin.
- Other income decreased to RMB9.9 million from RMB19 million in Q1 2024, primarily due to lower government grants.
- Non-GAAP net income for Q1 2025 was RMB49.6 million, down from RMB64.6 million in the same period of 2024.
- The company faces intensified market competition, particularly in the food delivery sector, impacting order volume growth.
Good day and welcome to BingEx 2025 first quarter financial results conference call. Today's conference is being recorded. At this time, I'd like to turn the conference over to Helen Wu from Piacente Financial Communications. Please go ahead.
Thank you, operator. During this call, we'll discuss our business outlook and make forward-looking statements. These comments are based on our predictions and expectations as of today. Actual events or results could differ materially from those mentioning today's news release, and then in this discussion due to a number of risks and uncertainties, including risks mentioned in our most recent filings with the SEC.
The non-GAAP financial measures will provide are for comparison purpose only. The definition of these measures and our consolidation table are available in the news release we issued earlier today.
As a reminder, this conference is being recorded. In addition, a webcast replay of this conference call will be available on the
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