SHENZHEN, China, July 25,
2023 /PRNewswire/ -- Addentax Group Corp. ("Addentax"
or the "Company") (Nasdaq: ATXG), an integrated service provider
focusing on garment manufacturing, logistics services, and property
management and subleasing, announces the launch of a brand-new
Metaverse project in partnership with Hangzhou Yuanyuzhou
Technology Co., Ltd ("NFTCN-Bigverse"), the largest and most active
NFT trading platform in Asia. The
project aims to establish an expansive NFT ecosystem, merging
blockchain technology, internet content, and society.
Combining Addentax's extensive network in artificial
intelligence ("AI") with NFTCN-Bigverse's technologies in encrypted
chips, augmented reality ("AR"), and virtual reality ("VR"), both
companies strive to establish a leading Metaverse society for NFT
artists and collectors in Asia.
The Metaverse ecosystem will be built on blockchain technology,
integrating elements of blockchain, internet content, and society.
Registered users will have access to their own VR art boxrooms,
immersing themselves in a unique digital experience.
Mr. Hong Zhida, Chairman and CEO of Addentax, expressed his
enthusiasm for this new venture, stating, "After venturing into the
AI business with our recent game-as-a-service initiative, we
are excited to explore the Metaverse and NFT space. With the entry
of major internet corporations including but not limited
to Meta Platforms, Inc. (formerly known as "Facebook")
(Nasdaq: META) and Roblox Corporation (Nasdaq: RBLX) into this
rapidly growing sector, we recognize the immense potential and
popularity it holds. We are determined not to miss this opportunity
and aim to secure our position as a frontrunner in the Metaverse
and NFT industry."
The Company is taking a cautious approach to the potential
Metaverse project, recognizing the significant challenges, capital
and expertise required for its successful execution. The Company
plans to engage with experienced professionals, including legal
experts and AI programmers, to thoroughly assess the feasibility
and suitability of undertaking this project.
"At Addentax, we prioritize responsible decision-making and
thorough evaluation before embarking on any new venture. Our
discussions with professional experts and AI programmers will help
us understand the risks and challenges associated with the project,
ensuring that we make informed choices," added Mr. Hong Zhida.
The Company will release further updates as the discussions
progress and decisions are made. Addentax remains committed to
exploring innovative opportunities that align with its core values
and growth strategies.
About Addentax Group Corp. Corp.
Addentax Group Corp. Corp. is an integrated service provider
specializing in garment manufacturing, logistics services, and
property management and subleasing. 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:
Public Relations Contact:
Addentax Group Corp. Corp.
Phone: + (86) 755 86961 405
cyseah@zgyingxi.com
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.