China's rapidly evolving logistics sector has given rise to innovative solutions for on-demand delivery. One standout player, BingEx, has carved out a niche by focusing on dedicated courier services. Unlike traditional models that bundle multiple orders for a single courier, this company assigns one rider per delivery, offering unparalleled convenience and personalization. Through its brand FlashEx or "Shan Song," customers can request anything from transporting luggage across town to having a specific cake delivered to a party. This unique approach has resonated with consumers, establishing the brand name as synonymous with swift, reliable delivery.

The competitive landscape of the on-demand delivery market is fierce, yet BingEx stands apart due to its profitability. According to Deutsche Bank analyst Jessie Xu, the company achieved positive unit operating profit starting from the third quarter of 2023 and has maintained profitability since. In contrast, many competitors in the one-on-one courier business continue to operate at a loss. Despite heavy subsidies and aggressive expansion strategies employed by logistics giants and e-commerce platforms like Alibaba and JD.com, BingEx remains committed to sustainable growth rather than chasing market share at the expense of profitability. This strategic focus has set the company apart and positioned it favorably for long-term success.

As the on-demand delivery market continues to expand, projections indicate an annual growth rate of 13% until 2028. This growth is driven by the increasing integration of online-to-offline (O2O) retail and food delivery services, alongside rising consumer demand for tailored delivery options. While personalized, one-on-one courier services currently represent only a small fraction of the overall delivery market, their potential for growth is significant. By the end of 2024, FlashEx had amassed a network of 2.8 million riders serving over 100 million registered customers across 295 cities. Despite recent stock price volatility, the company's commitment to profitability and strategic decision-making bodes well for its future. This approach not only ensures financial sustainability but also underscores the importance of prioritizing quality over quantity in delivering value to both customers and investors.