FUZHOU,
China, Oct. 24, 2024 /PRNewswire/ -- Shengfeng
Development Limited ("Shengfeng" or the "Company") (NASDAQ: SFWL),
a contract logistics company in China providing customers with integrated
logistics solutions, today announced that Mr. Yongxu Liu, the
Company's Chairman, Chief Executive Officer and the largest
beneficial shareholder of the Company, has purchased 500,000 Class
A ordinary shares of the Company in the open market at an average
price of $1.289 per share (the
"Shares").
The purchases of Shares were made on October 14, 2024 and October 15, 2024.
"With our current position in China's logistics market, I'm confident in the
Company's prospects, especially with the opportunities that we
anticipate will emerge from the new energy sector," said Mr. Liu.
"Additionally, I'm optimistic about our strategic expansion
into cold chain logistics and cross-border logistics is expected to
contribute to our future growth."
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, 2024. 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 system and operation
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 find many (but
not all) of these statements by the use of words such as
"approximates," "believes," "hopes," "expects," "anticipates,"
"estimates," "projects," "intends," "plans," "will," "would,"
"should," "could," "may" or other similar expressions in this press
release. 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.
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SOURCE Shengfeng Development Limited