SHENZHEN, China, March 1,
2021 /PRNewswire/ -- MingZhu Logistics Holdings Limited
("MingZhu" or the "Company") (NASDAQ: YGMZ), a leading trucking
service provider, announced a major cooperation agreement with
Sinotrans Logistics Limited's wholly owned subsidiary, China
Merchants Logistics Group Urumqi Limited ("China Merchants").
The cooperation agreement is designed to provide an exclusive,
crucial link between the first and last mile between slack coal
mines and essential railroads.
Under the cooperation agreement, MingZhu will be responsible for
the logistics and timely container transport of slack coal linking
mines with essential railroad transportation. The companies
expect the higher efficiency, lower cost intermodal transport
services model will set a new standard for future transport.
The cooperation agreement will initially focus on serving
Xinjiang's fast growing slack coal market, with total market volume
expected to grow from 72.3 million tons in 2018 to 87.7 million
tons by the end of 2021 (Source: Frost & Sullivan Analysis).
Xinjiang occupies a preeminent position as one of the core
transportation hubs of the One Belt One Road and serves as a
strategic gateway.
Mr. Jinlong Yang, Chairman and
Chief Executive Officer of MingZhu Logistics Holdings Limited,
commented, "This is a very exciting development in the continued
evolution of our company, one that we expect will drive accelerated
business growth over the coming years. We are pairing our
strong track record of reliable transportation with China
Merchants, one of China's oldest
and biggest companies, in an exclusive cooperation to initially
solve the first and last mile of slack coal transport.
With the combination of increased regional infrastructure
investments and rapid demand growth, we expect this agreement to be
the start of an even more significant, long-term, mutually
beneficial cooperation. We are fully committed to expanding
our capacity through organic growth and accretive acquisitions in
order to serve the overall higher expected demand."
About MingZhu Logistics Holdings Limited (NASDAQ:
YGMZ)
Founded in 2002, NASDAQ listed, Shenzhen, China based, MingZhu is 4A-grade
trucking services provider, offering both network density and broad
geographic coverage to meet customers' diverse transportation
needs. The Company operates two regional terminals in Guangdong Province and Xinjiang Autonomous
Region, respectively, with both self-own fleets of tractors and
trailers and subcontractors' fleets. More information about MingZhu
can be found at: www.szygmz.com/en/
Safe Harbor Statement
This press release
contains forward-looking statements as defined by the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements include statements concerning plans, objectives, goals,
strategies, future events or performance, and underlying
assumptions and other statements that are other than statements of
historical facts. When the Company uses words such as "may, "will,
"intend," "should," "believe," "expect," "anticipate," "project,"
"estimate" or similar expressions that do not relate solely to
historical matters, it is making forward-looking statements.
Forward-looking statements are not guarantees of future performance
and involve risks and uncertainties that may cause the actual
results to differ materially from the Company's expectations
discussed in the forward-looking statements. These statements are
subject to uncertainties and risks including, but not limited to,
the following: the Company's goals and strategies; the Company's
future business development; product and service demand and
acceptance; changes in technology; economic conditions; the growth
of the trucking services market in China and the other international markets the
Company plans to serve; reputation and brand; the impact of
competition and pricing; government regulations; fluctuations in
general economic and business conditions in China and the international markets the
Company plans to serve and assumptions underlying or related to any
of the foregoing and other risks contained in reports filed by the
Company with the SEC. For these reasons, among others, investors
are cautioned not to place undue reliance upon any forward-looking
statements in this press release. Additional factors are discussed
in the Company's filings with the SEC, which are available for
review at www.sec.gov. The Company undertakes no obligation to
publicly revise these forward–looking statements to reflect events
or circumstances that arise after the date hereof.
For more information, please contact:
At the
Company:
Mr. Dennis Tan
Email: company@szygmz.com
Phone: +86 150-1854-1833
Investor Relations:
Ms. Sherry Zheng
Weitian Group LLC
Email: shunyu.zheng@weitian-ir.com
Phone: +1 718-213-7386
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SOURCE MingZhu Logistics Holdings Limited