MingZhu Logistics Enters Share Purchase Agreement to Acquire Mingzhuchun
Under the SPA, MingZhu shall acquire 100% of Mingzhuchun in exchange for the issuance of 2,000,000 ordinary shares of Mingzhu upon closing. The shareholder of Mingzhuchun shall receive additional First Earnout Payment of 2,000,000 ordinary shares and Second Earnout Payment of 2,000,000 ordinary shares respectively if the net income of Mingzhuchun is no lower than US$1 million for the fiscal year 2025 and 2026 respectively.
The closing of the transaction contemplated by the SPA is subject to the satisfaction of the closing conditions set forth therein.
The acquisition aligns with Mingzhu's previously announced strategic plan to expand into China's commercial liquor distribution sector, leveraging synergies with its existing business operations. As part of this initiative, the Company has been exploring partnerships with established liquor and spirits distributors in China to strengthen its nationwide distribution network, pending final agreements.
Mingzhuchun specializes in distributing high-quality liquor brewed in Maotai Town, Guizhou—the most renowned production hub for China's iconic baijiu (white liquor). As the national drink of China, baijiu dominates the domestic spirits market and is a staple at celebrations, family gatherings, and business banquets. Maotai Town's liquors, in particular, are celebrated for their exceptional heritage and craftsmanship, making them the gold standard in China's liquor industry.
About MingZhu Logistics Holdings Limited (NASDAQ: YGMZ)
Established in 2002 and headquartered in Shenzhen, China, MingZhu Logistics Holdings Limited is a 4A-rated professional trucking service provider. Based on the Company's regional logistics terminals in Guangdong Province, MingZhu Logistics Holdings offers tailored solutions to our clients to deliver their goods through our network density and broad geographic coverage across the country by a combination of self-owned fleets tractors and trailers and subcontractors' fleets. For more information, please visit ir.szygmz.com.
Forward-Looking Statements
The statements in this press release regarding the Company's future expectations, plans and prospects constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding plans, goals, objectives, strategies, future events, expected performance, assumptions and any other statements of fact that have not occurred. Any statements that contain the words 'may', 'will', 'want', 'should', 'believe', 'expect', 'anticipate', 'estimate', 'calculate' or similar statements that are not factual in nature are to be considered forward-looking statements. Actual results may differ materially from historical results or from those expressed in these forward-looking statements as a result of a variety of factors. These factors include, but are not limited to, the Company's strategic objectives, the Company's future plans, market demand and user acceptance of the Company's products or services, technological advances, economic trends, the growth of the trucking services market in China, the Company's reputation and brand, the impact of industry competition and bidding, relevant policies and regulations, fluctuations in China's macroeconomic conditions, and the risks and assumptions disclosed in the Company's reports provided to the CSRC (China Security Regulatory Commission).
In addition, the following factors, among others, could cause actual results to differ materially from those described in these forward-looking statements: the outcome of any legal proceedings that have been, or will be, instituted against Mingzhucun or other parties to the SPA following announcement of the SPA and transactions contemplated therein; the ability of MingZhu to meet NASDAQ listing standards following the transaction and in connection with the consummation thereof; the inability to complete the transactions contemplated by the SPA due to the failure to meet any closing conditions to the SPA; risks that the proposed transaction disrupts current plans and operations and the potential difficulties in employee retention as a result of the announcement of the SPA and consummation of the transaction described therein; costs related to the proposed acquisition; changes in applicable laws or regulations; the ability of the post-transaction company to meet its financial and strategic goals, due to, among other things, competition; the ability of the post-transaction company to grow and manage growth profitability, maintain relationships with customers and retain its key employees; the possibility that the post-transaction company may be adversely affected by other economic, business, and/or competitive factors; and other risks and uncertainties described herein, as well as those risks and uncertainties discussed from time to time in other reports and other public filings with the Securities and Exchange Commission (the 'SEC') by MingZhu.
For these and other related reasons, we advise investors not to place any reliance on these forward-looking statements, and we urge investors to review the Company's relevant SEC filings for additional factors that may affect the Company's future results of operations. The Company undertakes no obligation to publicly revise these forward-looking statements subsequent to the filing of these documents as a result of changes in particular events or circumstances.
For further information, please contact.
MingZhu Logistics Holdings Limited:
Jingwei Zhang
Email: [email protected]
Phone: +86 186-5937-1270
Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same.
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