BingEx operates FlashEx, an on-demand dedicated courier service in China. Unlike standard delivery platforms that bundle multiple orders into a single route, FlashEx assigns one dedicated rider per order, picking up and delivering a single package with no handoffs or route-sharing. The result is fast delivery — averaging 26 minutes — designed for items where speed, safety, and intact delivery matter: business documents, birthday cakes, flowers, fine dining meals, electronics, pharmaceuticals, and luxury goods. FlashEx served ~120 million registered users across 298 cities in China as of end-2025, with ~3.1 million registered riders. FlashEx earns a per-order take rate — customers pay a variable per-order fee, FlashEx pays out a delivery fee to the rider (a gig worker paid per order), and keeps the difference. Order volume and average selling price (ASP) are the primary revenue drivers, with ASP influenced by distance, weight, time of day, and surge pricing. FlashEx serves both individual consumers placing one-off deliveries and business customers — local merchants, SMEs, and enterprise clients — who integrate FlashEx via API for recurring, high-frequency courier needs. Enterprise and merchant accounts are a strategic priority given their predictable order volumes. FlashEx's proprietary dispatch and pricing system sets rider pay dynamically based on real-time supply, demand, and parcel characteristics, and is central to its unit economics. Growth priorities include shifting order mix toward higher-value categories, deepening merchant relationships, expanding individual lifestyle services, and targeting enterprise clients.