Business
Addentax Invests Equity Stake in Fresh Food Marketing Solution Provider, Well Information Technology Corporation
SHENZHEN, China, Jan. 13, 2025 /PRNewswire/ -- Addentax Group Corp. ("Addentax" or the "Company") (Nasdaq: ATXG), an integrated service provider focusing on
About this update from Addentax Group Corp.
[{"type":"text","content":"SHENZHEN, China, Jan. 13, 2025 /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 that Addentax has purchased 3,750,000 common shares in Well Information Technology Corporation (\"Well InfoTech\"), a company incorporated under the jurisdiction of the State of Nevada. Well InfoTech and its subsidiaries are headquartered in Hangzhou, People's Republic of China.\n\nWell InfoTech's core expertise lies in providing a comprehensive range of marketing solutions, including both online and offline marketing plans. Well InfoTech mainly serves store owners and managing personnel in fresh food industry across People's Republic of China, mainly targeting large cities in China, such as Hangzhou, Beijing, and Heilongjiang. Their mission is to deliver comprehensive and tailored marketing solutions that enhance the visibility and profitability of fresh food store owners. Well InfoTech is committed to leveraging the latest digital tools and traditional marketing techniques to connect businesses with their customers, build lasting relationships, and promote a culture of healthy eating.\nPursuant to the Securities Purchase Agreement, the Company acquired 2.5% equity stake in Well InfoTech for a total consideration of USD $750,000. The investment was made in cash.\nAbout Addentax Group Corp.\nAddentax Group 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/.\nCaution Concerning Forward Looking Statements\nAll 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 include, but are not limited to, the Company's and Well InfoTech's expectations with respect to the Agreement, the valuation of Well InfoTech including the products it offers and the markets in which it operates, and the Company and Well InfoTech's projected future results, and known and unknown risks and uncertainties which are based on current expectations and projections about...