BingEx Limited Secures Strategic Investment from HLID

BingEx Limited, a leading on-demand courier services provider in China (branded as "FlashEx"), announced that its wholly-owned subsidiary has signed a strategic investment agreement with Hangzhou Low-Altitude Industry Development Co., Ltd. (HLID). This investment will enable FlashEx to become one of the first on-demand delivery companies in Hangzhou to receive strategic support from the city’s low-altitude industry platform. This marks a significant step in the Company's expansion into drone delivery and low-altitude logistics. FlashEx, with over a decade of experience in intra-city delivery and a fulfillment network covering nearly 300 cities, has been investing in technologies like intelligent dispatching, route optimization, autonomous delivery, and low-altitude logistics. The company has already launched five drone takeoff and landing sites and 14 delivery routes in Hangzhou, completing approximately 3,500 paid orders with a 100% safety record. The partnership with HLID is expected to accelerate the deployment of drone delivery services, enhancing delivery efficiency and expanding service offerings.