BingEx Ltd. (FLX), a Chinese on-demand courier service provider, on Wednesday reported a decline in its third-quarter revenue.
For the three-month period to September 30, the company reported net loss attributable to ordinary shareholders of RMB13.4 million or RMB0.19 per share, compared with loss of RMB2.6 million or RMB 0.04 per share, recorded for the same period of the previous year.
This loss is mainly due to the accretion of redeemable convertible preferred shares to redemption value of negative RMB37.253 million, lower than the prior year's negative RMB37.601 million.
Revenue was RMB1.154 billion, down from RMB1.194 billion a year ago.
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