SHENZHEN, China, Aug. 15,
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, has announced significant progress in
its collaborative initiative with Games-as-a-Service ("GaaS") firms
for the development of Artificial Intelligence ("AI") Online
Operational Tools (referred to as the "AI project"), which was
launched on June 30, 2023. This
advancement signifies a substantial step forward in Addentax's
venture into AI innovation.
The AI project team has been engaging in strategic discussions
with three venture capital firms from the
United States and Europe.
These discussions, spanning several weeks, have generated
substantial enthusiasm within the Venture Capital firms,
highlighting the potential inherent in the implementation and
commercialization of the AI project in the dynamic landscape of
online gaming.
In parallel, the AI project team is in the final stages of
negotiating a collaborative partnership with an online gaming
enterprise based in the United
States. This partnership emphasizes the industry's
recognition of the transformative capabilities of the AI project.
The upcoming integration of the AI project team's innovative tools
and products into this gaming enterprise's ecosystem represents a
significant step towards enhancing operational efficiency and
enriching the user experience.
The AI project is set for the imminent launch of its
prototype in September 2023,
which is aimed at optimizing commercialization strategies and
facilitating insightful big data analyses. Furthermore, this debut
will be swiftly followed by the introduction of advanced
functionalities, including real-time content updates and
sustainable profitability enhancements.
Reflecting on the significant strides achieved within a mere two
months since the project's inception, Mr. Hong, Chairman, and CEO
of Addentax, shared his perspective: "Our journey within the AI
internet sector has been marked by remarkable progress. As Addentax
forges ahead, our commitment to diversify our portfolio within the
AI space remains steadfast. We are resolute in our mission to
deliver enduring value to our valued shareholders in the days
ahead."
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.