ATXG - Addentax Group Corp. and Dezhong Xinghui Collaborate to Develop AI Logistic System Facilitating Breakthroughs in Logistics Delivery | Benzinga
SHENZHEN, China, March 20, 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 three year memorandum of understanding (the "MOU") with Dezhong Xinghui Information Technology Co., Ltd. ("Dezhong Xinghui") on March 20, 2024, an enterprise established in September 2017 based in Hangzhou City's Xihu District, is recognized for its high-tech innovations in digital retail.
The collaboration between Addentax and Dezhong Xinghui is focused on the development of an artificial intelligence ("AI") logistics system. This system aims to optimize vehicle dispatching, monitor inventory in real-time, enable intelligent sorting and delivery, and operate seamlessly. By automating tasks, this initiative significantly reduces labor costs and errors, ultimately enhancing efficiency and quality across logistics operations. Overall, the AI logistics system's optimization functionalities cover all aspects of logistics, promising breakthroughs in delivery services within their respective logistic communities.
Dezhong Xinghui, through its platform Qilin XianPin, will play a crucial role in the collaboration by providing expertise and resources in software technology and digital retail solutions. Qilin XianPin is a platform specializing in providing digital retail solutions for fresh produce, food industry enterprises, and retailers. With an annual investment of up to USD $5 million in software technology, Dezhong Xinghui continuously explores Software-as-a-Service ("SAAS") systems, big data analysis, AI applications, private domain operations, and other technologies which not only enhance its platform functionalities but also help in optimizing the AI logistics system.
Conversely, Addentax brings its ...