BingEx Limited Q1 2026 Financial Results - Revenue Decline, Net Loss Widens

BingEx Limited (Nasdaq: FLX), operating as FlashEx in China, reported its first quarter 2026 financial results showing mixed performance. Revenues decreased to RMB935.3 million (US$135.6 million) from RMB960.8 million in Q1 2025, primarily due to intensifying market competition. The company reported a net loss of RMB42.6 million (US$6.2 million), significantly wider than the RMB10.3 million loss in the same period last year. However, income from operations improved to RMB11.0 million from RMB10.0 million, and non-GAAP income from operations was RMB21.6 million. The company fulfilled 57.9 million orders during the quarter. Management highlighted progress in AI adoption across operations, customer service, and R&D, as well as advancements in low-altitude logistics initiatives. BingEx also announced a one-year extension of its share repurchase program, authorizing up to US$30.0 million in buybacks through April 2027, with US$10.4 million already repurchased as of May 20, 2026.