BingEx said its FlashEx subsidiary signed a strategic investment agreement with Hangzhou Low-Altitude Industry Development Co., Ltd. to support drone delivery expansion in Hangzhou. The company said the network had five sites, 14 routes, about 3,500 paid orders and nearly 2,900 flights by the end of April 2026.
BingEx said its FlashEx subsidiary has signed a strategic investment agreement with Hangzhou Low-Altitude Industry Development Co., Ltd. (HLID), a move the company says will help speed up its drone delivery and low-altitude logistics expansion in Hangzhou.
The announcement, published on May 18, 2026, did not disclose the financial terms of the investment. BingEx said the agreement is intended to provide strategic support from Hangzhou’s low-altitude industry platform.
Existing network in Hangzhou
BingEx said the initiative builds on an existing drone delivery network in the city. By the end of April 2026, the company said FlashEx and its Hangzhou partners had launched five drone takeoff and landing sites and 14 delivery routes.
The company said the network had handled about 3,500 paid orders across nearly 2,900 flights, with a 100% safety record.
What comes next
BingEx said the investment is part of its broader push into low-altitude logistics in Hangzhou. The company did not say when the investment would be fully completed or how quickly additional routes might open.
The announcement follows an earlier BingEx release in October 2025 that outlined a commercial pilot for a city-wide low-altitude logistics network in Hangzhou.
Revision note
Initial automated publication.