NASDAQ : FLX
BingEx Limited — Financial statements
Industrials · Integrated Freight & Logistics · China
Last price 1.46 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 98.68M
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Financial statements
BingEx Limited (FLX) reported revenue of 3.88B CNY (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 3.88B | 3.99B | 4.47B | 4.53B | 4.00B | 3.04B |
| Cost of Revenue | 3.46B | 3.52B | 3.98B | 4.13B | 3.74B | 2.85B |
| Gross Profit | 421.10M | 469.10M | 490.56M | 394.56M | 259.26M | 189.11M |
| Selling, General & Admin | 319.87M | 338.32M | 372.48M | 293.06M | 343.12M | 384.85M |
| Research & Development | 65.96M | 84.47M | 143.86M | 90.85M | 118.62M | 104.77M |
| Operating Expenses | 385.82M | 422.80M | 516.34M | 383.91M | 461.74M | 489.62M |
| Operating Income | 35.27M | 46.30M | -25.78M | 10.65M | -202.48M | -300.51M |
| Interest & Investment Income | 73.69M | 93.29M | 25.42M | 25.53M | 12.84M | 5.87M |
| Other Non Operating Income (Expenses) | 2.99M | 13.64M | 41.67M | 74.32M | 9.20M | 3.64M |
| EBT Excluding Unusual Items | 111.95M | 153.23M | 41.31M | 110.50M | -180.44M | -291.00M |
| Gain (Loss) on Sale of Investments | -121.91M | -43.53M | -187.72M | |||
| Other Unusual Items | -113.66M | -146.34M | -139.58M | -130.98M | ||
| Pretax Income | -9.96M | 109.71M | -260.07M | -35.84M | -320.01M | -421.99M |
| Income Tax Expense | 406.00K | 277.00K | 69.00K | |||
| Net Income | -10.43M | 109.43M | -260.14M | -35.84M | -320.01M | -421.99M |
| Net Income to Common | -10.43M | 109.43M | -260.14M | -35.84M | -320.01M | -421.99M |
| Shares Outstanding (Basic) | 67.94M | 69.04M | 34.57M | 24.00M | 24.00M | 24.00M |
| Shares Outstanding (Diluted) | 67.94M | 69.52M | 34.57M | 24.00M | 24.00M | 24.00M |
| EPS (Basic) | -0.15 | 1.58 | -7.53 | -1.49 | -13.33 | -17.58 |
| EPS (Diluted) | -0.18 | 1.56 | -7.53 | -1.50 | -13.33 | -17.58 |
| Free Cash Flow | 98.90M | 1.05M | 42.62M | -90.24M | -200.14M | |
| Free Cash Flow Per Share | 1.42 | 0.03 | 1.78 | -3.76 | -8.34 | |
| Gross Margin | 10.85% | 11.75% | 10.98% | 8.71% | 6.48% | 6.22% |
| Operating Margin | 0.91% | 1.16% | -0.58% | 0.24% | -5.06% | -9.89% |
| Profit Margin | -0.27% | 2.74% | -5.82% | -0.79% | -7.99% | -13.88% |
| Free Cash Flow Margin | 2.48% | 0.02% | 0.94% | -2.25% | -6.58% | |
| EBITDA | 36.46M | 48.08M | -22.81M | 15.54M | -197.02M | -296.23M |
| EBITDA Margin | 0.94% | 1.20% | -0.51% | 0.34% | -4.92% | -9.74% |
| D&A For EBITDA | 1.18M | 1.78M | 2.97M | 4.89M | 5.46M | 4.28M |
| EBIT | 35.27M | 46.30M | -25.78M | 10.65M | -202.48M | -300.51M |
| EBIT Margin | 0.91% | 1.16% | -0.58% | 0.24% | -5.06% | -9.89% |
| Effective Tax Rate | 0.25% | |||||
| Advertising Expenses | 32.09M | 24.01M | 22.48M | 65.99M |
Balance sheet
Fiscal year January - December; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 574.42M | 561.13M | 592.36M | 699.39M | 622.14M | 218.53M |
| Short-Term Investments | 278.83M | 393.08M | 156.56M | 153.26M | 189.90M | 616.21M |
| Cash & Short-Term Investments | 853.26M | 954.21M | 748.92M | 852.65M | 812.04M | 834.74M |
| Accounts Receivable | 27.01M | 36.73M | 16.89M | 12.12M | 12.78M | 124.00K |
| Other Receivables | 21.80M | 22.24M | 32.50M | 24.73M | 20.14M | |
| Receivables | 27.01M | 58.52M | 39.13M | 44.61M | 37.51M | 20.27M |
| Prepaid Expenses | 36.27M | 2.13M | 4.37M | 4.65M | 5.17M | 25.65M |
| Restricted Cash | 130.00K | 91.00K | 46.73M | |||
| Other Current Assets | 19.01M | 19.29M | 18.41M | 18.44M | 14.46M | |
| Total Current Assets | 916.66M | 1.03B | 858.45M | 920.32M | 873.16M | 895.12M |
| Property, Plant & Equipment | 23.15M | 27.03M | 48.26M | 65.40M | 48.94M | 9.38M |
| Long-Term Investments | 185.64M | 224.40M | 324.11M | |||
| Other Long-Term Assets | 3.09M | 3.06M | 4.60M | 14.95M | 562.00K | 3.16M |
| Total Assets | 1.13B | 1.29B | 1.24B | 1.00B | 922.67M | 907.66M |
| Accounts Payable | 196.83M | 224.09M | 223.39M | 339.83M | 356.14M | 271.07M |
| Accrued Expenses | 117.00M | 130.22M | 146.02M | 228.03M | 278.98M | 233.09M |
| Current Portion of Leases | 10.20M | 9.73M | 13.09M | 12.35M | 11.40M | |
| Current Unearned Revenue | 56.58M | 60.54M | 56.77M | 51.95M | 39.05M | 48.27M |
| Other Current Liabilities | 15.57M | 19.69M | 21.30M | 16.87M | 13.74M | |
| Total Current Liabilities | 380.62M | 440.15M | 458.96M | 653.45M | 702.44M | 566.17M |
| Long-Term Leases | 8.97M | 12.88M | 29.39M | 45.36M | 28.41M | |
| Total Liabilities | 389.59M | 453.03M | 488.36M | 698.81M | 730.85M | 566.17M |
| Common Stock | 733.89M | 141.00K | 138.00K | 44.00K | 44.00K | 44.00K |
| Additional Paid-In Capital | 3.45B | 3.40B | ||||
| Retained Earnings | -2.46B | -2.57B | -2.31B | -2.27B | -1.95B | |
| Treasury Stock | -54.79M | |||||
| Comprehensive Income & Other | -105.76M | -92.14M | -126.09M | -85.12M | 75.24M | |
| Total Common Equity | 733.89M | 835.43M | 747.06M | -2.43B | -2.35B | -1.87B |
| Shareholders' Equity | 738.96M | 835.43M | 747.06M | 301.86M | 191.82M | 341.49M |
| Total Liabilities & Equity | 1.13B | 1.29B | 1.24B | 1.00B | 922.67M | 907.66M |
| Total Debt | 19.18M | 22.61M | 42.49M | 57.71M | 39.81M | |
| Net Cash (Debt) | 834.08M | 931.60M | 706.43M | 794.95M | 772.24M | 834.74M |
| Net Cash Per Share | 12.28 | 13.40 | 20.44 | 33.12 | 32.18 | 34.78 |
| Filing Date Shares Outstanding | 67.12M | 67.59M | 68.47M | 24.00M | 24.00M | 24.00M |
| Total Common Shares Outstanding | 67.12M | 67.59M | 68.47M | 24.00M | 24.00M | 24.00M |
| Working Capital | 536.05M | 593.81M | 399.49M | 266.87M | 170.72M | 328.96M |
| Book Value Per Share | 10.93 | 12.36 | 10.91 | -101.32 | -98.12 | -78.10 |
| Tangible Book Value | 733.89M | 835.43M | 747.06M | -2.43B | -2.35B | -1.87B |
| Tangible Book Value Per Share | 10.93 | 12.36 | 10.91 | -101.32 | -98.12 | -78.10 |
| Machinery | 11.73M | 12.59M | 12.50M | 11.87M | 10.88M | |
| Leasehold Improvements | 7.24M | 7.24M | 7.08M | 6.51M | 5.96M |
Cash flow statement
Fiscal year January - December; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 109.43M | -260.14M | -35.84M | -320.01M | -421.99M | |
| Depreciation & Amortization | 1.78M | 2.97M | 4.89M | 5.46M | 4.28M | |
| Loss (Gain) From Sale of Assets | 10.00K | -38.00K | -75.00K | -80.00K | 341.00K | |
| Loss (Gain) From Sale of Investments | 43.53M | 187.72M | ||||
| Stock-Based Compensation | 46.43M | 160.03M | ||||
| Other Operating Activities | -63.67M | 122.71M | 154.14M | 129.41M | 130.60M | |
| Change in Accounts Receivable | -19.83M | -4.78M | 660.00K | -12.65M | -124.00K | |
| Change in Accounts Payable | 699.00K | -116.44M | -16.30M | 85.07M | 77.17M | |
| Change in Unearned Revenue | 3.77M | 4.82M | 12.90M | -9.22M | -18.30M | |
| Change in Other Net Operating Assets | -23.11M | -94.67M | -74.66M | 35.21M | 33.11M | |
| Operating Cash Flow | 99.03M | 2.19M | 45.71M | -86.82M | -194.91M | |
| Capital Expenditures | -131.00K | -1.14M | -3.08M | -3.42M | -5.23M | |
| Sale of Property, Plant & Equipment | 88.00K | 65.00K | 176.00K | 181.00K | 126.00K | |
| Investment in Securities | -111.42M | -496.96M | 28.96M | 464.62M | -619.78M | |
| Investing Cash Flow | -111.46M | -498.04M | 26.05M | 461.38M | -624.88M | |
| Issuance of Common Stock | 918.00K | 447.97M | ||||
| Repurchase of Common Stock | -54.79M | |||||
| Other Financing Activities | -5.34M | -14.46M | -359.00K | -4.42M | ||
| Financing Cash Flow | -59.21M | 433.51M | -359.00K | 743.38M | ||
| Foreign Exchange Rate Adjustments | -6.23M | 2.04M | 5.85M | 29.05M | -438.00K | |
| Net Cash Flow | -77.88M | -60.30M | 77.25M | 403.62M | -76.85M | |
| Free Cash Flow | 98.90M | 1.05M | 42.62M | -90.24M | -200.14M | |
| Free Cash Flow Margin | 2.48% | 0.02% | 0.94% | -2.25% | -6.58% | |
| Free Cash Flow Per Share | 1.42 | 0.03 | 1.78 | -3.76 | -8.34 | |
| Levered Free Cash Flow | 91.34M | -91.34M | -48.03M | -375.38K | -89.77M | |
| Unlevered Free Cash Flow | 91.34M | -91.34M | -48.03M | -375.38K | -89.77M | |
| Cash Income Tax Paid | 157.00K | 69.00K | ||||
| Change in Working Capital | -38.48M | -211.06M | -77.40M | 98.41M | 91.86M |
Ratios
Fiscal year January - December; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 102.74M | 217.73M | 568.07M | |||
| Enterprise Value | -20.05M | 98.20M | 902.28M | |||
| Last Close Price | 1.46 | 3.18 | 8.31 | |||
| PE Ratio | 13.92 | |||||
| Forward PE | 9.33 | |||||
| PS Ratio | 0.18 | 0.38 | 0.93 | |||
| PB Ratio | 0.91 | 1.82 | 5.55 | |||
| P/TBV Ratio | 0.93 | 1.82 | 5.55 | |||
| P/FCF Ratio | 6.77 | 15.40 | 3,956.49 | |||
| P/OCF Ratio | 15.38 | 1,894.20 | ||||
| PEG Ratio | 2.23 | |||||
| EV/Sales Ratio | 0.17 | 1.47 | ||||
| EV/EBITDA Ratio | 14.29 | |||||
| EV/EBIT Ratio | 14.83 | |||||
| EV/FCF Ratio | 6.95 | 6,284.22 | ||||
| Debt / Equity Ratio | 0.03 | 0.03 | 0.06 | 0.19 | 0.21 | |
| Debt / EBITDA Ratio | 0.36 | 0.34 | 1.63 | |||
| Debt / FCF Ratio | 0.23 | 40.54 | 1.35 | |||
| Net Debt / Equity Ratio | -1.13 | -1.11 | -0.95 | -2.63 | -4.03 | -2.44 |
| Net Debt / EBITDA Ratio | -22.88 | -19.38 | 30.98 | -51.16 | 3.92 | 2.82 |
| Net Debt / FCF Ratio | -9.42 | -674.08 | -18.65 | 8.56 | 4.17 | |
| Asset Turnover | 3.29 | 3.16 | 4.00 | 4.71 | 4.37 | 4.78 |
| Quick Ratio | 2.31 | 2.30 | 1.72 | 1.37 | 1.21 | 1.51 |
| Current Ratio | 2.41 | 2.35 | 1.87 | 1.41 | 1.24 | 1.58 |
| Return on Equity (ROE) | -1.34% | 13.83% | -49.60% | -14.52% | -120.01% | -343.67% |
| Return on Assets (ROA) | 1.87% | 2.29% | -1.44% | 0.69% | -13.83% | -29.50% |
| Return on Invested Capital (ROIC) | -63.44% | |||||
| Return on Capital Employed (ROCE) | 4.70% | 5.50% | -3.30% | 3.10% | -91.90% | -88.00% |
| Earnings Yield | -1.76% | 7.18% | -6.27% | |||
| FCF Yield | 14.76% | 6.49% | 0.03% | |||
| Buyback Yield / Dilution | -18.55% | -101.12% | -44.02% |