SHENZHEN, China, Sept. 5,
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, has initiated preliminary discussions
with Xianglilai Technology Co., Ltd ("Xianglilai"), a Chinese
company involved in lithium battery research & development
("R&D"), manufacturing, and operations. These discussions align
with Addentax's commitment to its recent venture with Auto City
(Shenzhen) Autonomous Driving Co.,
Ltd. Dated on or around June 6, 2023,
focused on artificial intelligence ("AI") cloud-based Level 4
("L4") Autopilot R&D.
Xianglilai is recognized as an "Internet-of-Things + Internet +
New Energy" technology company, with core activities encompassing
lithium battery R&D, manufacturing, and operations. The company
holds a substantial portfolio of over 100 patents within
China and maintains strategic
partnerships with industry leaders.
Through this potential collaboration, Addentax aims to enhance
its logistics operations with advanced lithium battery technology,
promoting sustainability and efficiency. Xianglilai's battery
sharing services, available in many major Chinese cities, ensure
timely deliveries with fully charged batteries, aligning perfectly
with the global trend toward sustainability. Moreover, this
potential partnership also complements Addentax's commitment to
advancing battery technology for autonomous new energy
vehicles.
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.
Phone: + (86) 755 86961 405
cyseah@zgyingxi.com
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.