Jessie Xu's questions to BingEx Ltd (FLX) leadership • Q3 2024
Question
Jessie Xu inquired about the moderation in Q3 order volume growth, seeking management's perspective on the impact of the macroeconomic environment and industry competition. She also asked for details on the cost efficiency measures that led to improved margins and the potential for future upside.
Answer
CFO Le Tang attributed the slight revenue decline to a strategic shift towards business users and expansion in lower-tier cities, which temporarily impacted the average selling price. He noted a moderate recovery in the new retail industry. Executive Peng Xue stated that BingEx's one-to-one delivery model provides a differentiated service, and that the company's strong brand recognition minimizes marketing spend. He added that future profitability will be driven by revenue growth and scale, which improves rider efficiency and gross margin.