Addentax Group (NASDAQ: ATXG) Signs MOU with Yingbin Brand for Strategic Collaboration

Addentax Group Corp. announced on November 21, 2024, the signing of a memorandum of understanding (MOU) with Shenzhen Yingbin Brand Development Co., Ltd. (Yingbin Brand), a brand management group based in Guangdong, China. This MOU sets the stage for a strategic collaboration between the two entities to enhance brand supply chain, product supply chain, and marketing supply chain services in China.

The agreement between Addentax and Yingbin Brand aims to explore synergies that will lead to a comprehensive supply chain service model. Addentax will bring its established logistics network to the table, while Yingbin Brand will leverage its expertise in brand development and supply chain management.

Included in the filing are copies of the press release announcing the MOU and the MOU itself, dated November 20, 2024, marked as Exhibit 99.1 and Exhibit 99.2 respectively.

The collaboration intends to bolster the brand value chain, create an efficient product supply chain system, and innovate marketing models to expand market reach. While the MOU outlines the cooperation intent, it is disclosed that it does not hold legal binding and further formal contracts will define specific terms and conditions of the partnership.

Addentax Group Corp.’s CEO, Hong Zhida, signed the report on behalf of the company. The company’s shares (ATXG) are listed on the Nasdaq Capital Market.

This move signifies Addentax’s strategy to strengthen its presence in the Chinese market by partnering with a prominent brand management group to enhance its supply chain services.

The article is based on an 8-K filing with the SEC by Addentax Group Corp., as of November 21, 2024.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Addentax Group’s 8K filing here.

About Addentax Group

Addentax Group Corp., together with its subsidiaries, operates as a logistic service provider in China. It operates through three segments: Garment Manufacturing, Logistics Services, and Property Management and Subleasing. The company manufactures and distributes garments; and provides logistic services, such as storage, transportation, warehousing, handling, packaging, and order processing, as well as customs declaration and tax clearance services.