BingEx Ltd

FlashEx is a pioneer in providing on-demand dedicated courier services for individual and business customers in China. The company, which brands its services as "FlashEx," focuses on delivering items with superior time certainty, delivery safety, and service quality. FlashEx began commercial operations in 2014 and, as of December 31, 2025, had approximately 3.1 million registered riders, known as Flash-Riders. Its services cover 298 cities across China. FlashEx operates on an on-demand dedicated courier model, which differs from delivery service providers that use an order-merge model. This dedicated model is designed to fulfill high-value orders that require high time and quality sensitivity. Services allow individual and business customers to have various items, from business documents to personal daily needs like gourmet food, birthday cakes, and flowers, reliably delivered by a single dedicated Flash-Rider on a one-to-one basis. For each order, a dedicated Flash-Rider picks up and delivers the order directly to the recipient without combining multiple orders or transferring hands during transit. The average completion time for local delivery orders was 29 minutes in 2023, 27 minutes in 2024, and 26 minutes in 2025. In 2025, the company achieved a loss rate of 0.01%. FlashEx aims to provide a superior customer experience and a unique value proposition to all participants in its business.