MingZhu Logistics Announces Major Cooperation Agreement with China Merchants Logistics Group Urumqi Limited
MingZhu Logistics Holdings Limited (NASDAQ: YGMZ) announced a key cooperation agreement with Sinotrans Logistics' subsidiary, China Merchants Logistics Group Urumqi Limited. This collaboration focuses on streamlining the logistics of slack coal transport from mines to railroads, aiming to enhance efficiency and reduce costs. The partnership targets Xinjiang's growing slack coal market, projected to expand from 72.3 million tons in 2018 to 87.7 million tons by 2021. The agreement is anticipated to foster accelerated business growth and strengthen MingZhu's operational capacity in the region.
- Major cooperation agreement with China Merchants will improve logistics efficiency.
- Focus on Xinjiang, with slack coal market growth expected from 72.3M tons in 2018 to 87.7M tons by 2021.
- Potential for accelerated business growth through increased demand and infrastructure investments.
- None.
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
FAQ
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