For BingEx Ltd (FLX), Executive President and director Yu Hongjian reported the vesting and settlement of equity awards on August 24, 2026. 125,000 Restricted Share Units, each representing the right to receive one Class A ordinary share, vested and were exercised into 125,000 Class A ordinary shares at a reported price of $0.00 per share. A separate entry shows 26 Class A ordinary shares, reported under code F, delivered or withheld in connection with the vesting; the company notes these shares reflect ADS ratio adjustments and administrative fees.
BingEx Ltd (FLX) reported that Chief Financial Officer Tang Le had 62,500 restricted share units vest on August 24, 2026, each representing the right to receive one Class A ordinary share. These RSUs were exercised into 62,500 Class A ordinary shares, with 16 shares delivered or withheld to cover payment of exercise price or tax liability and related administrative/ADS-ratio adjustments.
BingEx Limited (Nasdaq: FLX), which operates China on-demand courier brand FlashEx, reported weaker results for the quarter ended June 30, 2026. Revenue was RMB940.3 million, down from RMB1,024.6 million a year earlier, and gross margin slipped to 10.2% from 12.0%.
Income from operations declined to RMB7.3 million from RMB19.3 million. A large negative swing in investment marks led to a net loss of RMB34.0 million, compared with net income of RMB53.5 million in the prior-year quarter. On a non-GAAP basis, which excludes fair-value changes and share-based compensation, net income was RMB11.4 million, down from RMB45.6 million.
Total operating expenses fell 14.6% to RMB88.3 million, driven mainly by lower selling and marketing and R&D costs. The company fulfilled 63.1 million orders and ended the quarter with RMB853.4 million in cash, restricted cash and short-term investments. Under its up-to US$30.0 million repurchase plan extended to April 1, 2027, it had bought back about 3.9 million ADSs for US$11.8 million by August 19, 2026.
BingEx Limited ownership update: affiliated reporting persons disclose beneficial ownership of 8,262,060 Class A Ordinary Shares each (held as 2,754,020 ADSs) representing 4.8% of the class based on 173,811,951 Class A Ordinary Shares outstanding as of February 28, 2026.
The filing states the ADSs trade on Nasdaq under symbol FLX and that CDH Venture Capital III Limited is wholly owned by CDH Venture Partners III, L.P., with voting authority exercised by an investment committee whose members are named in the disclosure.
BingEx Ltd Executive President Yu Hongjian reported routine equity compensation activity. On May 22, 2026, 125,000 restricted share units vested, resulting in the acquisition of 125,000 Class A ordinary shares at a stated price of $0.00 per share.
In connection with this vesting, 20 Class A ordinary shares, valued at $0.75 per share, were disposed of to cover administrative fees and related obligations, rather than sold in the open market. Following these transactions, Yu Hongjian directly holds 1,749,894 Class A ordinary shares, plus 250,000 restricted share units representing potential future shares.
BingEx Ltd Chief Financial Officer Tang Le had 62,500 restricted share units vest and convert into the same number of Class A ordinary shares on May 22, 2026. In connection with the vesting, 16 shares were adjusted/withheld for ADS ratio and administrative fees, and Tang Le now directly holds 874,923 Class A ordinary shares.
BingEx Limited, which operates the FlashEx on-demand courier service in China, reported unaudited first-quarter 2026 results showing slightly lower revenue but a much wider net loss. Revenue was RMB935.3 million (US$135.6 million), down modestly from RMB960.8 million a year earlier as competition intensified.
Cost controls improved profitability at the operating level: total operating expenses fell 18.7% to RMB94.8 million, helping income from operations edge up to RMB11.0 million. However, weaker investment performance weighed heavily on the bottom line. Changes in fair value of long-term investments and losses on short-term investments pushed net loss to RMB42.6 million (US$6.2 million), compared with a RMB10.3 million loss a year earlier.
On a non-GAAP basis, which excludes share-based compensation and fair value changes, the company swung from net income of RMB49.6 million to a net loss of RMB11.1 million. Cash and cash equivalents, restricted cash and short-term investments totaled RMB859.1 million (US$124.5 million) as of March 31, 2026. The board extended a share repurchase program authorizing up to US$30.0 million of buybacks through April 1, 2027, with approximately 3.3 million ADSs already repurchased for about US$10.4 million.
BingEx Limited, which operates on-demand courier brand FlashEx in China, reports that its wholly owned subsidiary has signed a strategic investment agreement with Hangzhou Low-Altitude Industry Development Co., Ltd. (HLID). This partnership is aimed at accelerating FlashEx’s expansion into drone delivery and low-altitude logistics in Hangzhou.
FlashEx already runs an intra-city delivery network covering nearly 300 cities in China and uses a one-rider, one-order model for time-sensitive, high-quality deliveries. In Hangzhou, FlashEx and its partners have launched five drone takeoff and landing sites and 14 delivery routes across several districts, completing about 3,500 paid orders over nearly 2,900 flights with a reported 100% safety record as of the end of April 2026. The company views low-altitude logistics as a core long-term technology and growth focus.
BingEx Limited, a Cayman Islands holding company, filed its Form 20-F for the year ended December 31, 2025. The company operates an on-demand dedicated courier business in China through PRC subsidiaries and a variable interest entity (VIE) structure, with ADSs representing three Class A ordinary shares trading under symbol FLX on Nasdaq.
Consolidated revenue reached RMB3,992.1 million in 2025, with net income of RMB109.4 million. As of December 31, 2025, BingEx had 219,389,729 ordinary shares outstanding, including 173,811,951 Class A and 45,577,778 Class B shares. The VIE contributed 18.2% of 2025 revenues and carries net liabilities, while being consolidated for accounting purposes.
The report highlights extensive risks from PRC regulation, including potential invalidation of the VIE contracts, data and cybersecurity oversight, required PRC permissions, and possible future impacts of the Holding Foreign Companies Accountable Act if PCAOB access to Chinese auditors changes. The company also details cash and service-fee flows among the parent, WFOE, subsidiaries, and the VIE, notes no dividends to date, and emphasizes dependence on China’s on-demand delivery and local retail markets, brand reputation, and the contractor status and performance of its Flash-Riders.
BingEx Ltd Chief Financial Officer Tang Le acquired 62,500 Class A ordinary shares on March 19, 2026 through the vesting and settlement of restricted share units. Each restricted share unit converts into one Class A ordinary share. A small portion of shares (13) was withheld at $0.86 per share for administrative fees, leaving Tang with 812,439 Class A ordinary shares held directly after these transactions. The 62,500 restricted share units vested on January 3, 2026 and were settled on March 19, 2026, reflecting routine equity compensation rather than an open-market trade.