Addentax Group Corp. Entered into a Service Agreement with SF Express for Logistics Services
SHENZHEN, China, June 8, 2023 /PRNewswire/ -- Addentax Group Corp. ("Addentax" or the "Company") (Nasdaq: ATXG), an integrated service provider focusing on garment manufacturing, logistics services, property management and subleasing, and epidemic prevention supplies, today announced that its wholly owned subsidiary in China Shenzhen Xin Kuai Jie Transportation Co., Ltd ("Shenzhen Xin") has entered into a logistics service agreement (the "Agreement") with SF Express Co., Ltd ("SF Express"), the largest integrated logistics service provider in China and the fourth largest in the world, and a subsidiary of SF Holding Co., Ltd (SZSE: 002352). SF Express will be receiving operational logistics services from Addentax across several vital routes in China, including Shanghai - Dongguan, Shenzhen - Ningbo, Shenzhen - Nanning, Haikou - Sanya, Foshan - Liaocheng, Sanya – Qingyuan, among others. The strategic alliance with a leading enterprise such as SF Express further underlines the strength of the Company's service portfolio and is expected to amplify the company's reputation and industry credibility.
Pursuant to the Agreement, the two parties will collaboratively undertake the transportation tasks required for SF Express's logistics services. Addentax will supply and manage transport vehicles and drivers, ensuring seamless operational execution of SF Express's logistic needs. SF Express will undertake periodic supervision and inspection of partnered vehicles and drivers, evaluate the road transport services provided by Shenzhen Xin, conduct safety education initiatives, and partake in driver co-management. Addentax's logistics division currently provides delivery and courier services in 79 cities spanning seven provinces and two municipalities in China. By leveraging a mix of company-owned motor vehicles, dedicated drivers, and contractor resources, Addentax has been able to optimize efficiency, sustain operational adaptability, and concurrently minimize capital expenditures and overall costs.
Mr. Zhida Hong, the Chairman and Chief Executive Officer of Addentax, stated, "We are thrilled to announce this cooperation. This partnership with SF Express is a milestone event, further asserting our leading position in the delivery industry throughout China, particularly in these pivotal and high-traffic routes. This collaborative venture with SF Express is set to drive our profitability to new peaks, while concurrently bolstering the quality of our delivery services. With our budding collaboration with SF Express, and the potential for partnerships with other market frontrunners in China, we expect to realize substantial returns in the coming years. Our unwavering commitment is to continually enhance our service offerings and maximize value for our shareholders."
About Addentax Group Corp.
Addentax Group Corp. is an integrated service provider specializing in garment manufacturing, logistics services, property management, subleasing, and epidemic prevention supplies. 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:
Addentax Group Corp
Phone: + (86) 755 86961 405
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.
