BingEx Limited (NASDAQ:FLX), one of China’s major providers of on-demand dedicated courier services, released its third-quarter 2025 results on Wednesday, showing that profits improved even as revenue continued to soften. The company reported adjusted earnings per share of $0.03, while revenue totaled $141.2 million, marking a 13% decline from the prior year.
Revenue slipped from RMB1,154.8 million in Q3 2024 to RMB1,005.4 million ($141.2 million) this quarter, a decrease the company attributed to weaker order volumes amid heightened competitive pressures in the courier market. Still, net income climbed to RMB43.7 million ($6.1 million), up sharply from RMB23.8 million a year earlier.
During the quarter, BingEx completed 63.2 million deliveries. Gross margin held steady at 11.1%, just slightly below last year’s 11.3%.
Commenting on the quarter, Founder, Chairman, and CEO Mr. Adam Xue said, “FlashEx remained focused on strengthening our competitiveness amid volatile market conditions during the third quarter, reinforcing our distinctive position as an on-demand dedicated courier service provider.”
He added that the company continued to execute “high-efficiency and high-value delivery scenarios” while also branching into new service categories and broadening customer touchpoints.
BingEx also made progress on capital returns as part of its active share buyback program. As of November 18, 2025, the company had repurchased around 1.6 million ADSs for a total of approximately $5.4 million, under its previously announced $30 million repurchase authorization from March 2025.
As of September 30, 2025, BingEx reported cash, restricted cash, and short-term investments of RMB877.9 million ($123.3 million).