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MingZhu LogisticsHoldings Ltd. (NASDAQ: YGMZ) (“MingZhu”) announced a $34million agreement with Xinjiang Tianfu Yitong Supply Chain ManagementCo, Ltd. (“Tianfu”). The agreement states that both companies willwork together to establish a mutually beneficial and long-termtransportation relationship. MingZhu will use its transportation andlogistics expertise to handle the transportation of bulk coal cargobetween Tianfu Yitong’s operations in Gansu, Qinghai, andXinjiang.
Tianfuis a logistics service provider with a specialty in coal, ore, andother bulk goods. The company has focused on building a completelogistics data platform and integrated supply chain but is in need ofthe transportation services that MingZhu is known for.
MingZhu is a 4A-Grade truckingservice provider with a large fleet of more than 1500 trucksin 29 regions throughout China. The company also recently acquiredtransportation service provider Feipeng to expand its serviceto include intermodal transportation. MingZhu has experience providingtransportation for bulk cargo foam coal and raw coal for Tianfu. Theagreement was a natural progression of the relationship between thetwo companies.
MingZhu has been in the transportation and logistics businessfor 19 years and has worked hard to be a recognizable name in theglobal energy transformation, transportation, and reform.
2022 saw an adjustedcoal mine capacity replacement policy as part of the “FourteenthFive Year Plan” from the National Energy Administration ofChina. While the country balances environmental considerations andenergy requirements, coal storage and transportation are a large partof the national conversation. MingZhu is a key player in China’s“Belt and Road” initiative, which will help link key economicsectors throughout the country’s regions through strongtransportation channels.
Mr. JinlongYang, Chairman and Chief Executive Officer of MingZhu LogisticsHoldings Limited, commented, “This is a timely agreement for boththe Tianfu Group and MingZhu. We continue to align with strongpartners capable of driving business expansion and revenue growth.Efficient transport of coal has been a mainstay of China’s economicgrowth as a source of reliable energy for manufacturers, heating andmany other uses. Our successful long-track record gives the TianfuGroup confidence in working with MingZhu as we embark on thisimportant strategic relationship. We look forward to building amutually beneficial transportation business as we unlock value for allof our shareholders.”
Established in 2002 and headquarteredin Shenzhen, China, MingZhu Logistics Holdings Limited is a 4A-ratedprofessional trucking service provider. Based on the Company’sregional logistics terminals in Guangdong Province, MingZhu LogisticsHoldings offers tailored solutions to our clients to deliver theirgoods through our network density and broad geographic coverage acrossthe country by a combination of self-owned fleets, tractors andtrailers and subcontractors’ fleets. For more information, pleasevisit ir.szygmz.com.
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