Key Points – Revenue dipped slightly in Q1 2026 to RMB 935.3 million from RMB 960.8 million a year earlier as BingEx faced tougher competition in China’s on-demand delivery market.
Gross profit and margin also declined, though operating income remained slightly positive. – AI is becoming a major efficiency driver for FlashEx, with management saying it has sped up customer service, merchant onboarding and product launches
Operating expenses fell 18.7% year over year as the company used AI to streamline operations. – Drone delivery and platform integrations are scaling up, with FlashEx launching 14 drone routes, completing roughly 3,500 paid orders by the end of April, and expanding access through open APIs, HarmonyOS integration and AI-agent compatibility. – Hooker Furnishings Discount To Book, A Value Play? BingEx (NASDAQ:FLX), which operates under the FlashEx brand, reported first-quarter 2026 revenue of RMB 935.3 million, down from RMB 960.8 million a year earlier, as management cited intensifying market competition in China’s on-demand delivery industry. Founder, Chairman and Chief Executive Officer Adam Xue said the company delivered “a stable performance amid a dynamic market environment,” fulfilling 57.9 million orders during the quarter.
FlashEx had 3.1 million registered riders at quarter-end, and its average delivery time improved to 25.7 minutes. The company reported gross profit of RMB 105.8 million, compared with RMB 126.7 million in the same period of 2025. Gross margin fell to 11.3% from 13.2% a year earlier.