Sifan Zhang's questions to BingEx Ltd (FLX) leadership • Q2 2025
Question
Sifan Zhang from CICC inquired about the company's Q2 order volume and Average Selling Price (ASP) broken down by business-to-business (2B) and business-to-consumer (2C) segments, along with the outlook for the second half of the year. Zhang also asked about rider supply and retention metrics amid industry competition and the expected trajectory for the rider incentive budget.
Answer
CEO Adam Xue reported 123 million orders in the first half of 2025 with stable ASP and expressed optimism for a volume recovery in the second half. CFO Luke Tang addressed the rider question, stating that despite market pressures, FlashEX's differentiated model and comprehensive support system have maintained a stable rider base. Tang noted that the incentive budget is managed for efficiency, with technology aimed at reducing reliance on traditional subsidies over the long term.