Stephen Zhang's questions to BingEx Ltd (FLX) leadership • Q3 2024
Question
Stephen Zhang from CICC asked for an update on the company's unit economics (UE) and rider remuneration trends during the third quarter of 2024, as well as the outlook for these metrics.
Answer
CFO Le Tang explained that BingEx's unit economics model is performing well with a healthy cost structure, where rider remuneration is the main component. He noted that the cost of revenue has been continuously optimized, leading to an expanded gross profit. Tang highlighted that strong brand recognition keeps marketing expenses stable and focused on brand building rather than user subsidies, contributing to operating leverage. He confirmed the company has achieved eight consecutive profitable quarters and will stick to its one-to-one model to leverage economies of scale.