SHENZHEN, China, June 8, 2023
/PRNewswire/ -- Addentax Group Corp. ("Addentax" or the
"Company") (Nasdaq: ATXG), an integrated service provider focusing
on garment manufacturing, logistics services, property management
and subleasing, and epidemic prevention supplies, today announced
that its wholly owned subsidiary in China Shenzhen Xin Kuai Jie Transportation
Co., Ltd ("Shenzhen Xin") has entered into a logistics service
agreement (the "Agreement") with SF Express Co., Ltd ("SF
Express"), the largest integrated logistics service provider in
China and the fourth largest in
the world, and a subsidiary of SF Holding Co., Ltd (SZSE: 002352).
SF Express will be receiving operational logistics services from
Addentax across several vital routes in China, including Shanghai - Dongguan, Shenzhen - Ningbo, Shenzhen - Nanning, Haikou - Sanya, Foshan - Liaocheng, Sanya –
Qingyuan, among others. The strategic alliance with a leading
enterprise such as SF Express further underlines the strength of
the Company's service portfolio and is expected to amplify the
company's reputation and industry credibility.
Pursuant to the Agreement, the two parties will collaboratively
undertake the transportation tasks required for SF Express's
logistics services. Addentax will supply and manage transport
vehicles and drivers, ensuring seamless operational execution of SF
Express's logistic needs. SF Express will undertake periodic
supervision and inspection of partnered vehicles and drivers,
evaluate the road transport services provided by Shenzhen Xin,
conduct safety education initiatives, and partake in driver
co-management. Addentax's logistics division currently provides
delivery and courier services in 79 cities spanning seven provinces
and two municipalities in China.
By leveraging a mix of company-owned motor vehicles, dedicated
drivers, and contractor resources, Addentax has been able to
optimize efficiency, sustain operational adaptability, and
concurrently minimize capital expenditures and overall costs.
Mr. Zhida Hong, the Chairman and
Chief Executive Officer of Addentax, stated, "We are thrilled to
announce this cooperation. This partnership with SF Express is a
milestone event, further asserting our leading position in the
delivery industry throughout China, particularly in these pivotal and
high-traffic routes. This collaborative venture with SF Express is
set to drive our profitability to new peaks, while concurrently
bolstering the quality of our delivery services. With our budding
collaboration with SF Express, and the potential for partnerships
with other market frontrunners in China, we expect to realize substantial
returns in the coming years. Our unwavering commitment is to
continually enhance our service offerings and maximize value for
our shareholders."
About Addentax Group Corp.
Addentax Group Corp. is an integrated service provider
specializing in garment manufacturing, logistics services, property
management, subleasing, and epidemic prevention supplies. Its
apparel manufacturing business includes sales to wholesalers and is
based in China. The logistics
business, which includes delivery and express services, covers 79
cities in 7 provinces and 2 municipalities in China. The property management and subleasing
business provides relevant services to clothing wholesalers and
retailers in the apparel market. The epidemic prevention
supplies business includes manufacturing and distributing
quarantine products, as well as reselling supplies purchased from
the third parties in domestic and overseas markets. More
information please visit the website:
https://www.addentax.com/.
Safe Harbor Statement
All statements other than statements of historical fact in
this announcement are forward-looking statements in nature within
the meaning of the Private Securities Litigation Reform Act of
1995. These forward-looking statements involve known and unknown
risks and uncertainties and are based on current expectations and
projections about future events and financial trends that the
Company believes may affect its financial condition, results of
operations, business strategy and financial needs. Words or phrases
such as "may," "will," "expect," "anticipate,"
"aim,"
"estimate," "intend," "plan," "believe,"
"potential," "continue," "is/are likely to" or other similar
expressions are intended to identify such forward-looking
statements. The Company undertakes no obligation to update
forward-looking statements to reflect subsequent occurring events
or circumstances, or changes in its expectations, except as may be
required by law. Although the Company believes that the
expectations expressed in these forward-looking statements are
reasonable, it cannot assure you that such expectations will turn
out to be correct, and the Company cautions investors that actual
results may differ materially from the anticipated results and
encourages investors to consider risk factors, including those
described in the Company's filings with the SEC, that may affect
the Company's future results. All forward-looking statements
attributable to the Company and its subsidiaries or persons acting
on their behalf are expressly qualified in their entirety by these
risk factors. The forward-looking events discussed in this press
release and other statements made from time to time by us or our
representatives, may not occur, and actual events and results may
differ materially and are subject to risks, uncertainties, and
assumptions about us. We are not obligated to publicly update or
revise any forward-looking statement, whether as a result of
uncertainties and assumptions, the forward-looking events discussed
in this press release and other statements made from time to time
by us or our representatives might not occur.
Company Contact:
Addentax Group Corp
Phone: + (86) 755 86961 405
Investor Relations Contact:
Sherry Zheng
Weitian Group LLC
1-718-213-7386
shunyu.zheng@weitian-ir.com
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SOURCE Addentax Group Corp.