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BingEx subsidiary invests in drone delivery deal

BingEx subsidiary signs strategic investment deal for drone delivery expansion. FlashEx to leverage low-altitude logistics in China.

Sophia Anderson
BySophia Anderson- Senior Editor
|
0
BingEx subsidiary invests in drone delivery deal
Photo: Prepared by Bond.az

BingEx Limited (NASDAQ:FLX), known as FlashEx, announced its wholly-owned subsidiary signed a strategic investment agreement with Hangzhou Low-Altitude Industry Development Co., Ltd.

The deal supports FlashEx's expansion into drone delivery and low-altitude logistics.

FlashEx has launched five drone takeoff and landing sites and 14 delivery routes across three districts in Hangzhou, completing about 3,500 paid orders.

Despite a 23% year-to-date stock decline to $2.44, analysts see potential with a price target of $4.95.

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BingEx subsidiary invests in drone delivery deal | Bond.az