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    Sifan Zhang

    Research Analyst at CICC

    Sifan Zhang is an analyst at CICC, specializing in equity research with a focus on key sectors within the Chinese market. While public records do not provide detailed information regarding the specific companies he covers or precise performance metrics such as success rates or returns, he is recognized for thorough sector analysis and delivering actionable research insights to institutional clients. Zhang's career timeline, including his starting date at CICC and any prior roles at other firms, is not publicly detailed, and there is currently no verifiable record of professional credentials such as FINRA registration or specific securities licenses. Despite the limited availability of quantitative data, Sifan Zhang is known within the industry as a knowledgeable analyst at CICC.

    Sifan Zhang's questions to BingEx (FLX) leadership

    Sifan Zhang's questions to BingEx (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.

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