Srikanth is currently ranked ninth among men in the world, while Rio Olympics silver medalist Sindhu is ranked second among the women.
It was Sindhu's third loss to Bingjiao, who had defeated her at the Indonesia Open and French Open in July and October this year.
Sindhu stamped her authority with a 21-12, 21-15 win over Thailand's Busanan Ongbamrungphan in the second round.
Fifth seed Srikanth, ranked 9th, saw off France's Lucas Corvee 21-12, 21-16 in 35 minutes to set up a clash with Indonesia's Tommy Sugiarto.
Third seed Sindhu looked a pale shadow of herself as she lost 13-21, 16-21 in 40 minutes against seventh seed He Bingjiao of China.
Praneeth was no match for Asian Games champion Jonatan Christie of Indonesia, going down 16-21, 14-21 in a men's singles match.
Srikanth showed great determination to outwit Korea's world No 25 Lee Dong Keun 12-21, 21-16, 21-18 in a second-round clash that clocked an hour and 13 minutes.
Sindhu, who is currently competing at the French Open in Paris, jumped one spot to stay one spot behind Chinese Taipei's Tai Tzu Ying, who continues to dominate the rankings.
World No. 10 Saina will face either 2017 world champion Nozomi Okuhara of Japan or Spain's Beatriz Corrales next. Fifth-seeded Srikanth will meet Korean Lee Dong Keun.
Saina Nehwal got the better of Gregoria Mariska Tunjunng of Indonesia 21-11 21-12 in a lop-sided affair which lasted 49 minutes.
In the women's doubles, Ashwini Ponnappa and N Sikki Reddy's spirited campaign came to an end.
World number six Srikanth bounced back to beat the world number 14 from China 18-21, 21-17, 21-16 in the second round clash played on Thursday night.
Srikanth has lost three of his four matches against Dan but the Chinese great is not the force he once was.
Saina, who had skipped the Japan Open earlier this month after winning a bronze at 18th Asian Games, will look to get over the disappointment of her first-round exit at China last week when she takes on Korean Kim Hyo Min.
Srikanth had lost to Momota at the Malaysia Open and Indonesia Open in June and July respectively.
Third seed Sindhu bounced back after losing a close first game to record a 21-23, 21-13, 21-18 win in her second round women's singles match.
World No 25 Satwiksairaj and Ashwini, who had lost twice to the English combination in the past, executed their plan well to notch up a 21-13, 20-22, 21-17 win.
Just like his compatriots, fatigue seemed to have caught up with the seventh-seeded Srikanth as he squandered a game's lead to lose 21-19, 16-2, 18-21 against Korea's Lee Dong Keun.
Sindhu, who has endured a hectic BWF season reaching five finals including three majors at CWG, World Championship and Asian Games, seemed mentally drained as errors crept into her game.
Sindhu had to sweat it out for 53 minutes before prevailing 21-17 7-21 21-13 over unseeded local girl Sayaka Takahashi in her women's singles opening round.
Top News
Latest News
