FUZHOU,
China, June 12, 2023 /PRNewswire/ -- Shengfeng
Development Limited (the "Company" or "Shengfeng"), a contract
logistics company in China
providing customers with integrated logistics solution services,
today announced it has purchased 16 electric heavy-duty trucks with
an aggregate value of US$1,550,000.
The Company plans to have at least 10% of its future purchases of
heavy-duty trucks to be electric heavy-duty trucks.
In addition to the purchase of electric heavy-duty trucks, the
Company will also build battery swapping stations in its regional
sorting centers, cloud-based order fulfillment centers
(or Cloud OFCs), and service outlets, to better serve its
electric vehicles.
Mr. Yongxu Liu, Chairman of the Company, commented,
"Electrification has become mainstream throughout the automotive
industry, and Shengfeng will follow the trend by utilizing green
energy to reduce logistics costs, while also striving to make
contributions to energy conservation, emissions reduction, and
environmental protection."
About Shengfeng Development Limited
Shengfeng Development Limited is a contract logistics
company in China providing
customers with integrated logistics solution services. Established
in 2001, the Company has developed extensive and reliable
transportation networks in China,
covering 341 cities across 31 provinces, as of June 30, 2022. The Company provides integrated
logistics solutions comprised of B2B freight transportation
services, cloud storage services, and value-added services. The
Company applies well-established management systems and operating
procedures to assist companies in China to increase efficiency and improve their
own management systems with respect to transportation, warehousing,
and time management. For more information, please visit the
Company's website: http://ir.sfwl.com.cn/.
Forward-Looking Statements
This press release contains "forward-looking statements".
Forward-looking statements reflect our current view about future
events. These forward-looking statements involve known and unknown
risks and uncertainties and are based on the Company's current
expectations and projections about future events that the Company
believes may affect its financial condition, results of operations,
business strategy and financial needs. Investors can identify these
forward-looking statements by words or phrases such as
"approximates," "believes," "hopes," "expects," "anticipates,"
"estimates," "projects," "intends," "plans," "will," "would,"
"should," "could," "may" or other similar expressions in this
prospectus. The Company undertakes no obligation to update or
revise publicly any 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 review other
factors that may affect its future results in the Company's
registration statement and other filings with the U.S. Securities
and Exchange Commission.
For more information, please contact:
Shengfeng Development
Limited
Investor Relations
Department
Email:
ir@sfwl.com.cn
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SOURCE Shengfeng Development Limited
