SHENZHEN, China, March 20,
2024 /PRNewswire/ -- Addentax Group Corp. ("Addentax"
or the "Company") (Nasdaq: ATXG), an integrated service provider
focusing on garment manufacturing, logistics services, property
management, and subleasing, has announced the formalization of a
strategic cooperation and the signing of a three year memorandum of
understanding (the "MOU") with Dezhong Xinghui Information
Technology Co., Ltd. ("Dezhong Xinghui") on March 20, 2024, an enterprise established in
September 2017 based in Hangzhou City's Xihu District, is recognized
for its high-tech innovations in digital retail.
The collaboration between Addentax and Dezhong Xinghui is
focused on the development of an artificial intelligence ("AI")
logistics system. This system aims to optimize vehicle dispatching,
monitor inventory in real-time, enable intelligent sorting and
delivery, and operate seamlessly. By automating tasks, this
initiative significantly reduces labor costs and errors, ultimately
enhancing efficiency and quality across logistics operations.
Overall, the AI logistics system's optimization functionalities
cover all aspects of logistics, promising breakthroughs in delivery
services within their respective logistic communities.
Dezhong Xinghui, through its platform Qilin XianPin, will play a
crucial role in the collaboration by providing expertise and
resources in software technology and digital retail solutions.
Qilin XianPin is a platform specializing in providing digital
retail solutions for fresh produce, food industry enterprises, and
retailers. With an annual investment of up to USD $5 million in software technology, Dezhong
Xinghui continuously explores Software-as-a-Service ("SAAS")
systems, big data analysis, AI applications, private domain
operations, and other technologies which not only enhance its
platform functionalities but also help in optimizing the AI
logistics system.
Conversely, Addentax brings its professional expertise in
logistics services and extensive network to support Dezhong
Xinghui. With logistics services covering 11 provinces and 3
municipalities, spanning over 86 cities in mainland China, Addentax possesses abundant
transportation resources and logistics management experience. Both
parties aim to integrate their respective resources, expertise and
experience into developing the AI logistics system.
"We are enthusiastic about embarking on this strategic
partnership with Dezhong Xinghui. Together, we are committed to
leveraging our combined expertise to revolutionize the logistics
industry and drive innovations. We will harness our collective
strengths and shared vision to transform traditional logistics
practices through technological advancements" stated Mr. Hong
Zhida, Chairman and CEO of Addentax.
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. For more information about the
Company, please visit the website:
https://www.addentax.com/.
Caution Concerning Forward Looking Statements
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.
These forward-looking statements are based on information currently
available to Addentax and its current plans or expectations and are
subject to a number of known and unknown uncertainties, risks and
other important factors that may cause our actual results,
performance or achievements to be materially different from any
future results, performance or achievements expressed or implied by
the forward-looking statements. These and other important factors
are described in detail in the "Risk Factors" section of Addentax's
Annual Report on Form 10-K for the year ended March 31, 2023. Although we believe the
expectations reflected in such forward-looking statements are
reasonable, we can give no assurance that such expectations will
prove to be correct. 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
simon.ng@zgyingxi.com
Investor Relations Contact:
Sherry Zheng
Weitian Group LLC
1-718-213-7386
shunyu.zheng@weitian-ir.com
View original
content:https://www.prnewswire.com/news-releases/addentax-group-corp-and-dezhong-xinghui-collaborate-to-develop-ai-logistic-system-facilitating-breakthroughs-in-logistics-delivery-302093065.html
SOURCE Addentax Group Corp.
