8月19日晚间，同城一对一急送平台闪送公布了2025年第二季度和上半年业绩。财报数据显示，今年第 二季度，闪送营业10.25亿元（人民币，下同），较2024年同期的11.77亿元下滑12.91%；毛利润同比下 滑3.39%至1.23亿元，毛利率12%，较上年同期的10.8%，微增1.2个百分点；净利润为5349.5万元，同比 下滑9.51%；非美国通用会计准则下（Non-GAAP）净利润为4558.6万元，相比2024年同期的5911.5万元 下滑22.89%。 （秦铭蔚/摄） 当前，闪送正面临着多方"夹击"。一方面，针对闪送专攻的"一对一急送"细分赛道，不少即时配送企业 近年来在此加码。如达达拥有专人直送服务；美团也拥有"一对一直送"跑腿；顺丰同城也于去年11月， 对普通拼送模式进行全面升级，推出独享专送，由专人全程1对1服务，一次只送一单。 | BINGEX LIMITED | UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | | | | | | | | | | | | | | --- | --- | --- | --- | --- | ...

Core Viewpoint - The instant delivery industry is undergoing significant changes, with major players like Meituan, Alibaba, and JD.com gaining substantial market share, while companies that fail to adapt are struggling [1][6]. Financial Performance - In Q2 2025, the company Shansong reported revenues of 1.025 billion RMB, a decline of 12.91% compared to 1.178 billion RMB in Q2 2024 [2]. - Gross profit for Q2 2025 was 122.69 million RMB, down from 126.99 million RMB in Q2 2024, with a gross margin of 12% [2]. - Net profit for Q2 2025 was 53.50 million RMB, a decrease of 9.51% from the previous year [2]. - For the first half of 2025, total revenue was 1.985 billion RMB, a year-on-year decline of 13.1%, with net profit dropping 65.05% to 43.23 million RMB [3][4]. Market Position and Competition - Shansong, once a leader in the instant delivery sector, is now facing intense competition from other companies enhancing their one-to-one delivery services [6][7]. - The overall instant delivery market has seen a surge in order volume, with Meituan and Taobao reaching daily order peaks of 120 million and 80 million, respectively [6]. - Despite an increase in delivery personnel and city coverage, Shansong's order volume has shrunk, contributing to revenue decline [3][4]. Operational Challenges - Shansong's operational expenses rose by 22.15% year-on-year, totaling 103 million RMB, with significant increases in general and administrative expenses [7]. - The company has not effectively adjusted its operational strategies in response to market changes, leading to disappointing performance [6][7].