SHENZHEN, China, Sept. 12,
2024 /PRNewswire/ -- MingZhu Logistics Holdings
Limited ("MingZhu" or the "Company") (Nasdaq: YGMZ), an elite
provider of logistics and transportation services to businesses,
today announced the acquisition of HOLDCO 36 in a transformational
business combination. The closing of the all-stock acquisition is
subject to customary closing conditions, including regulatory
approvals.
Mr. Jinlong Yang, Chairman and
Chief Executive Officer of MingZhu, commented, "As part of our
active M&A process, we have evaluated a series of potential
transactions, with regard to long-term potential, valuation, and
alignment with building shareholder value. We are excited about the
proposed acquisition of HOLDCO 36 because it would immediately
transform our business into higher growth, burgeoning market
segments with a favorable regulatory environment and underlying
demand catalysts. Upon successful deal closure and integration, we
would expect to see a meaningful creation of value for all
shareholders."
For assets and projects being injected, parties are with
explicit understanding that the projects contributed by HOLDCO 36
and their conditions may change but new projects are always being
secured and developed to either be added or be replacing non-active
ones. Initial business assets and operations being acquired are
expected to include:
- Green Fuel Smart Trading Platform: A comprehensive
global distribution platform for biofuels, natural gas,
hydrogen-based fuels, methanol, and related equipment. This
platform aims to establish itself as the OPEC of green biofuels,
facilitating the trade and distribution of sustainable fuel sources
worldwide.
- EPC+O: Engineering, Procurement, Construction, and
Operations for biomass energy, and new energy systems such as wind,
solar, storage, hydrogen, and ammonia EPC engineering productions
systems. Using the existing ECaaS to provide distributed biomass
"carbon-electricity-biomass energy" co-generation solutions. The
business provides wind, solar, storage, green hydrogen, and green
ammonia and green fuel EPC consulting services to clients in
Americas, Asia, Africa and Europe.
- Power Leasing and Energy: Developed an intelligent
financial service platform for sales and lease financing for green
and lightweight vessels, maritime equipment and lightweight
materials for vessels.
- Digital Energy Services Segment for the Steel
Industry: Innovating a smart virtual power plant for
closed-loop virtual scenarios targeting steel mills worldwide,
supporting local distributed energy operations and usage. Managing
national zero-carbon industrial parks for the steel industry and
voluntary carbon reduction, which provides carbon credit, supply
chain carbon verification, green certificate trading and
verification.
About MingZhu Logistics Holdings Limited (Nasdaq:
YGMZ)
Established in 2002 and headquartered in Shenzhen, China, MingZhu Logistics Holdings
Limited is a 4A-rated professional trucking service provider. Based
on the Company's regional logistics terminals in Guangdong Province, MingZhu Logistics Holdings
offers tailored solutions to our clients to deliver their goods
through our network density and broad geographic coverage across
the country by a combination of self-owned fleets tractors and
trailers and subcontractors' fleets. For more information, please
visit ir.szygmz.com.
Forward-Looking Statements
The statements in this press release regarding the Company's
future expectations, plans and prospects constitute forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements include statements
regarding plans, goals, objectives, strategies, future events,
expected performance, assumptions and any other statements of fact
that have not occurred. Any statements that contain the words
"may", "will", "want", "should", "believe", "expect", "anticipate",
"estimate", "calculate" or similar statements that are not factual
in nature are to be considered forward-looking statements. Actual
results may differ materially from historical results or from those
expressed in these forward-looking statements as a result of a
variety of factors. These factors include, but are not limited to,
the Company's strategic objectives, the Company's future plans,
market demand and user acceptance of the Company's products or
services, technological advances, economic trends, the growth of
the trucking services market in China, the Company's reputation and brand, the
impact of industry competition and bidding, relevant policies and
regulations, fluctuations in China's macroeconomic conditions, and the
risks and assumptions disclosed in the Company's reports provided
to the CSRC (China Security Regulatory Commission). The potential
acquisition involves substantial risks and uncertainties that could
cause actual results to differ materially from those expressed or
implied by such statements including but not limited to statements
about the potential benefits of the potential acquisition; the
anticipated timing of closing of the potential acquisition
(including failure to obtain necessary regulatory approvals) and
the possibility that the potential acquisition does not close;
risks related to the ability to realize the anticipated benefits of
the potential acquisition, including the possibility that the
expected benefits from the proposed transaction will not be
realized or will not be realized within the expected time period;
the risk that the businesses will not be integrated successfully;
disruption from the potential acquisition making it more difficult
to maintain business and operational relationships; negative
effects of announcing the potential acquisition or the consummation
of the potential acquisition on the market price of our common
stock or operating results; costs associated with the potential
acquisition; unknown liabilities; and the risk of litigation and/or
regulatory actions related to the potential acquisition. For these
and other related reasons, we advise investors not to place any
reliance on these forward-looking statements, and we urge investors
to review the Company's relevant SEC filings for additional factors
that may affect the Company's future results of operations. The
Company undertakes no obligation to publicly revise these
forward-looking statements subsequent to the filing of these
documents as a result of changes in particular events or
circumstances.
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SOURCE MingZhu Logistics Holdings Limited
