Quick Take
Addentax Group (OTCQB:ATXG) has filed to raise gross proceeds of $10 million from a U.S. IPO, according to an S-1/A registration statement.
The firm operates as a garment manufacturer and logistics service provider in China.
ATXG has produced poor recent topline revenue performance, has an unfocused approach, RMB-denominated financials which are subject to devaluation, and an excessively-priced IPO, so I won't be participating in the IPO.
Company & Technology
Shenzhen, China-based Addentax was founded in 2014 to manufacture garments and provide related logistics services, primarily marketed to wholesalers in China.