SHENZHEN, China, Feb. 6, 2024
/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 the formalization of a strategic
cooperation and the signing of a Memorandum of Understanding (the
"MOU") with Shenzhen Tamir Cultural Tourism Development Co., LTD
("Tamir"), a leading full block-chain service provider for Chinese
cultural commercial tourism and rural
revitalization in the People's Republic
of China ("PRC"). Through the integration of top-level
designs, investments, development, financing, construction,
promotion, operation, and training, Tamir is creating a pan-tourism
development and operation service platform with Artificial
Intelligence ("AI") and block-chain tools. Its comprehensive
business coverage spans across China, with involvement in more than 15 cities
in the PRC and the successful completion of a total of 18
high-quality projects in various cities in the PRC.
Tamir will collaborate with Addentax, especially for Addentax's
formerly announced Games-as-a-Service ("GaaS") project, which
focuses on the development of Artificial Intelligence ("AI") Online
Operational Tools (the "AI project") since June 2023. This collaboration aims to build a
brand-new "Tourism-as-a-Service" platform, further enhancing
efficiency in its full-chain tourism service with AI and
block-chain tools.
Addentax and Tamir have entered into a collaboration to
establish strategic cooperation in both the PRC and overseas
regions. Both sides will allocate resources to build comprehensive
brand supply chains, product supply chains, and marketing supply
chains in the PRC and overseas
markets, utilizing AI and block-chain tools in the brand-new
"Tourism-as-a-Service" platform.
"We are more than happy to witness the utilization of our AI and
block-chain tools in the 'Tourism-as-a-Service' pan-entertainment
platform. This testifies to our R&D capability in AI-based
technologies. This new collaboration with a leading tourism service
company will undoubtedly further enhance our AI and blockchain
capabilities," stated Mr. Hong Zhida, Chairman and CEO of Addentax.
"We anticipate more AI technology research and developments
translating into real-life applications and utilization."
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. Corp.
Phone: + (86) 755 86961 405
simon.ng@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.
