(RTTNews) - BingEx Ltd. (FLX), an Air Freight & Logistics industrial company, on Wednesday announced that fourth quarter net loss widened from the last year.
In the fourth quarter, net loss was RMB 296.82 million, or $40.66 million, wider than loss of RMB 3.90 million last year.
Loss per share also widened to RMB 1.49, or $0.20, from RMB 0.05 in the previous year.
Loss from operations incurred RMB 152.72 million, $20.92 million compared with the income of RMB 12.42 million in the last year.
On an adjusted basis, net income declined to RMB 20.07 million, or $2.75 million from RMB 33.48 million in the previous year.
Adjusted income from operations also decreased to RMB 7.31 million, or $1 million from RMB 12.42 million in the prior year.
Revenue declined to RMB 1.03 billion, or $140.96 million from RMB 1.21 billion in the prior year.
On March 11, 2025, the Company's board approved a plan to buy back its shares. The Company can repurchase up to $30 million worth of shares, including American depositary shares, from March 12 to March 31, 2026.
Tuesday, BingEx had closed 2,52% lesser at $8.70 on the Nasdaq.
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