FlashEX

What FlashEX does

FlashEX (闪送), operated by Beijing Tongcheng Biying Technology Co., Ltd. and listed on NASDAQ as BingEx Limited (ticker: FLX), is a Chinese on-demand same-city urgent delivery platform founded in 2014 and headquartered in Beijing. The company operates a network of approximately 3.1 million registered couriers across 298 cities, differentiated by a one-to-one dedicated delivery model in which a single courier handles each order from pickup to drop-off — without batching, rerouting, or handoffs — targeting a 7-minute average pickup and ~26-minute citywide delivery SLA.

The platform spans four product surfaces: a consumer app accessible via iOS/Android/HarmonyOS, WeChat Mini-Program, and Alipay Mini-Program; a Merchant Platform (商家版) for restaurants, bakeries, florists, and retailers managing multi-store delivery; an Enterprise Platform (企业版) offering unified invoicing, multi-department ordering, and monthly settlement for corporate clients; and an Open Platform (开放平台) exposing standardized APIs and open-source CLI tools for developer integration. Underlying technology includes proprietary one-to-one courier matching algorithms, AI-driven operational efficiency systems, and drone (UAV) delivery infrastructure currently operating at 5 sites with 14 routes in Hangzhou.

FlashEX generates revenue primarily through per-transaction delivery fees paid by consumers, merchants, and enterprise customers across China. Reported quarterly revenue was RMB 935.3 million in Q1 2026 (down 2.7% YoY) and approximately CNY 1.0 billion in Q4 2025 (flat YoY), with Q1 2026 gross margin of 11.3% (down from 13.2% YoY) and a net loss of RMB 42.6 million. The company completed pre-IPO funding rounds totaling approximately $289 million across 2014-2021 from investors including Shunwei Capital, SIG China, N5Capital, Tiantu Capital, and Hearst Ventures, and received a post-IPO strategic investment from Hangzhou Low-Altitude Industry Development Co., Ltd. in May 2026 to accelerate drone delivery expansion.

Name

FlashEX

Legal name

北京同城必应科技有限公司 (Beijing Tongcheng Biying Technology Co., Ltd.)

Website

https://ishansong.com

Company type

Public

Founded year

2014

Operating status

Operating

Headcount range

501–1,000 employees

Short description

FlashEX (闪送, NASDAQ: FLX) operates a one-to-one urgent same-city delivery platform across 298 Chinese cities using approximately 3.1 million couriers, serving individual consumers, merchants, and enterprises with per-transaction fees and emerging drone delivery.

Ownership category

akta.pro rank

Product category

Same-City Instant Delivery / Intracity Logistics

NAICS

Couriers and Express Delivery Services (4921), Local Messengers and Local Delivery (4922), Couriers and Messengers (492)

SIC

Trucking & Courier Services (No Air) (4210), Air Courier Services (4513)

akta.pro primary industry

Same-Day / On-Demand Express Courier (TLAAABAG)

akta.pro secondary industries

Instant / Ultrafast Delivery (10–60 min, dark-store enabled) (TLAAAGAL), Micro-Mobility Couriers (bike/e-bike/scooter walkers) (TLAAAGAH)

Keywords

• Same-city delivery
• On-demand courier
• Intracity logistics
• One-to-one delivery
• Instant delivery service

Headquarters

HQ city

Beijing

HQ country

China

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Delivery Transaction Fees: FlashEX charges per delivery transaction. Customers pay per order for same-city urgent delivery services. The revenue model is transaction-based with usage determined by order volume across individual, merchant, and enterprise segments.
2. Business & Enterprise Services: Revenue from merchant and enterprise clients using dedicated platforms with monthly invoicing, bulk ordering, and multi-store coordination — expanding the transaction-based model into B2B accounts.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels9 records

Core offering

FlashEX operates an on-demand same-city urgent delivery platform where one dedicated courier handles each order from pickup to dropoff with no batching, rerouting, or handoffs. The service covers 298 cities across China with approximately 3.1 million registered couriers, offering 7-minute average pickup and 26-minute citywide delivery for individuals, merchants, and enterprises, supplemented by an open developer API and drone delivery infrastructure in Hangzhou.

Product overview

FlashEx (闪送) is a one-on-one urgent same-city delivery platform operated by Beijing Tongcheng Byying Technology Co., Ltd. (北京同城必应科技有限公司), listed on NASDAQ as FLX. The core offering is the FlashEx one-on-one delivery service — a dedicated rider handles each order exclusively from pickup to dropoff, with no batching, rerouting, or hand-offs. The portfolio spans four distinct platforms serving different user segments: the main consumer app/portal for individual users, the Merchant Platform (商家版) for business clients to manage store-level delivery operations, the Enterprise Platform (企业版) for corporate clients with centralized invoicing and multi-department ordering, and the Open Platform (开放平台) providing standardized API access and open-source CLI tools for developers to embed FlashEx logistics capabilities into third-party applications. The company also supports access via WeChat Mini Program and Alipay Mini Program, and completed a HarmonyOS Quick App integration with Huawei.

Differentiator

Problem solved

Functional benefit

Products and services

• FlashEX One-to-One Urgent Delivery (闪送) On-demand same-city delivery platform providing one-to-one dedicated delivery where a single courier handles each order from pickup to dropoff with no batching, rerouting, or handoffs. Targets individual consumers sending documents, keys, cakes, flowers, gifts, medications, and ID documents, with 30-second order placement, 7-minute average pickup, and 26-minute citywide delivery.
• Merchant Platform (商家版) Dedicated platform for merchants such as restaurants, bakeries, florists, and retailers to issue one-click delivery orders, access priority pickup, and manage multiple stores across cities from a unified dashboard. Designed for same-day fulfillment directly to end customers.
• Enterprise Platform (企业版) Enterprise-grade delivery platform for corporate clients to send contracts, samples, archives, and materials with unified invoicing for simplified reimbursement, real-time expense tracking, multi-department collaborative ordering, and monthly settlement.
• Open Platform / API & CLI (开放平台) Developer-facing platform offering standardized API access and open-source CLI tools that enable third-party applications to integrate FlashEX's delivery and logistics capabilities programmatically. Supports multiple integration methods including the Huawei HarmonyOS Quick App.
• Drone (UAV) Delivery Service Low-altitude aerial drone delivery service operating in Hangzhou with 5 sites, 14 routes, and approximately 3,500 paid deliveries completed with a 100% safety record across nearly 2,900 flights. Built as an integrated logistics ecosystem combining aerial drone transport with last-mile ground delivery.

Quantifiable outcome

• Average pickup time of 7 minutes (from order placement to courier arrival)
• +4 more outcomes

Named customers1 record

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

AI capability1 record

Feature4 records

Partnerships

Two partnerships are on record, tiered core.

• Huawei (HarmonyOS)coreTechnology or Integration · 21 May 2026FlashEx completed its HarmonyOS Quick App integration with Huawei, enabling seamless access to FlashEX delivery services within the Huawei HarmonyOS ecosystem. This integration allows Huawei device users to access delivery capabilities without downloading a separate app.
• Hangzhou Low-Altitude Industry Development Co., Ltd. (杭州低空产业发展有限公司)coreStrategic or Co-development Partner · 18 May 2026FlashEx's wholly owned subsidiary signed a strategic investment agreement with Hangzhou Low-Altitude Industry Development Co., Ltd. to accelerate drone delivery and low-altitude logistics services in China. The partnership aims to build an integrated logistics ecosystem combining aerial drone transport with last-mile ground delivery capabilities. FlashEx operates 5 drone sites with 14 routes in Hangzhou, completing ~3,500 paid deliveries with a 100% safety record.

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Meituan: Meituan operates the dominant on-demand food and intra-city delivery platform in China (Meituan Waimai / 美团外卖), competing head-to-head with FlashEX for urban, merchant, and consumer delivery demand, with vastly larger scale.
• Ele.me: Ele.me (饿了么), part of Alibaba's Local Services, is a major same-city food and parcel delivery platform in China offering on-demand courier services that directly overlap with FlashEX's intracity delivery use cases.
• Dada Group (Dada Now): Dada Group operates Dada Now (达达快送), an on-demand intra-city delivery platform in China serving merchants and consumers with same-day fulfillment, directly competing with FlashEX's one-to-one and merchant delivery offerings.
• Lalamove: Lalamove operates an on-demand intra-city delivery platform across Asia and Latin America matching riders to deliveries of documents and goods; business model and target use cases closely mirror FlashEX's one-on-one urgent courier service.
• Grab (GrabExpress): GrabExpress is the on-demand intra-city parcel and document courier service from Grab in Southeast Asia, pairing rideshare drivers to urgent deliveries; product and target use cases are highly comparable to FlashEX.
• Gojek (GoSend): GoSend is Gojek's intra-city parcel and document delivery service in Southeast Asia using motorbike and vehicle couriers, comparable to FlashEX's one-to-one same-city delivery model for documents and small goods.

Broad incumbents

• SF Express: SF Express (顺丰) is China's leading integrated logistics provider offering intra-city, express, and standard parcel delivery with national coverage; competes broadly with FlashEX for time-sensitive urban and intercity shipments.
• Cainiao Smart Logistics Network: Cainiao, Alibaba's logistics arm, provides national and last-mile delivery infrastructure including intra-city fulfillment, overlapping with FlashEX's same-city delivery offering as a broader incumbent with parcel network reach.
• DoorDash: DoorDash operates an on-demand local logistics platform in the US for food and goods delivery; while geography-different, the crowdsourced courier model, merchant APIs, and consumer mini-app/ordering UX are analogous to FlashEX's approach.

Regional players

• InPost: InPost operates parcel locker networks and courier services across Europe, providing same-day and next-day urban delivery; comparable in same-city courier operations but serving European markets rather than China.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xweibo.com/ishansong
• LinkedInlinkedin.com/company/flashexpress

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds6 records

Investors14 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about FlashEX