SHENZHEN, China, Jan. 13,
2025 /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 announced that Addentax has
purchased 3,750,000 common shares in Well Information Technology
Corporation ("Well InfoTech"), a company incorporated under the
jurisdiction of the State of
Nevada. Well InfoTech and its subsidiaries are headquartered
in Hangzhou, People's Republic of China.
Well InfoTech's core expertise lies in providing a comprehensive
range of marketing solutions, including both online and offline
marketing plans. Well InfoTech mainly serves store owners and
managing personnel in fresh food industry across People's Republic of China, mainly targeting
large cities in China, such as
Hangzhou, Beijing, and Heilongjiang. Their mission is to deliver
comprehensive and tailored marketing solutions that enhance the
visibility and profitability of fresh food store owners. Well
InfoTech is committed to leveraging the latest digital tools and
traditional marketing techniques to connect businesses with their
customers, build lasting relationships, and promote a culture of
healthy eating.
Pursuant to the Securities Purchase Agreement, the Company
acquired 2.5% equity stake in Well InfoTech for a total
consideration of USD $750,000. The
investment was made in cash.
About Addentax Group Corp.
Addentax Group 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 include, but are not limited
to, the Company's and Well InfoTech's expectations with respect to
the Agreement, the valuation of Well InfoTech including the
products it offers and the markets in which it operates, and the
Company and Well InfoTech's projected future results, and known and
unknown risks and uncertainties which 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. 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 U.S. Securities and Exchange
Commission, 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, including but not limited to (i)
risks related to the purchase of shares of Well InfoTech's common
stock, including risks related to the Company's ability to realize
some or all of the anticipated benefits from the purchase of the
shares of Well InfoTech's common stock, and (ii) other risks as set
forth from time to time in the Company's filings with the U.S.
Securities and Exchange Commission, including the factors described
in detail in the "Risk Factors" section of Addentax's Annual Report
on Form 10-K for the year ended March 31,
2024. 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, except as may be required by
law.
Company Contact:
Public Relations Contact:
Addentax Group Corp.
Phone: + (86) 755 86961 405
xinyee.lee@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.
