Addentax(ATXG)
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Addentax Group Corp. Announces Reverse Stock Split
Prnewswire· 2026-03-26 13:00
<!doctype html> <!-- For structured data --> <!-- For language declaration --> Addentax Group Corp. Announces Reverse Stock Split <!-- Additional Authorable Meta tags --> Accessibility StatementSkip NavigationSHENZHEN, China, March 26, 2026 /PRNewswire/ -- Addentax Group Corp. (Nasdaq: ATXG) (the "Company") announced today that following the stockholder approval of the reverse stock split proposal at the Company's 2025 Annual Meeting of Stockholders held on January 30, 2026, the Board of Directors of the Co ...
Addentax Group Corp. Announces Strategic Fintech Initiative and Negotiations to Acquire Up to 20 Online Lending Platforms in Asia Pacific Representing Over 600,000 Customers and Estimated Annual Loan Volume Exceeding HK$25 Billion
Prnewswire· 2026-03-17 13:25
Addentax Group Corp. Announces Strategic Fintech Initiative and Negotiations to Acquire Up to 20 Online Lending Platforms in Asia Pacific Representing Over 600,000 Customers and Estimated Annual Loan Volume Exceeding HK$25 Billion Accessibility StatementSkip NavigationSHENZHEN, China, March 17, 2026 /PRNewswire/ -- Addentax Group Corp. (Nasdaq: ATXG) ("ATXG" or the "Company") announced today that it has entered into mature negotiations to acquire multiple leading online money lending platforms across the As ...
Addentax(ATXG) - 2026 Q3 - Quarterly Report
2026-02-13 14:20
Company Overview - Addentax Group Corp. operates primarily through its subsidiaries in China, focusing on garment manufacturing, logistics services, and property management[95]. - Addentax Group Corp. is listed on the Nasdaq Capital Market under the symbol "ATXG"[95]. Logistics Services - The logistics services segment currently covers 44 cities across 10 provinces and 2 municipalities in China, with plans to develop 20 additional logistics routes in 2026[107]. - Revenue from logistics services contributed approximately $971,059, or 99.5% of total revenue for the three months ended December 31, 2025, compared to $831,103, or 98.4% in 2024[136]. - Income from operations in the logistics services segment increased to $141,921 for the three months ended December 31, 2025, compared to $8,707 in 2024[148]. - The gross profit margin for logistics services improved to 30.3% in the three months ended December 31, 2025, from 22.2% in 2024[144]. - Revenue from the logistics services business contributed approximately $2.6 million, or 98.6% of total revenue for the nine months ended December 31, 2025, up from $2.3 million, or 70.2%, in 2024[157]. Garment Manufacturing - The garment manufacturing business aims to expand its customer base and improve profit margins, emphasizing quality and timely delivery[106]. - The company’s garment manufacturing operations are conducted through three wholly-owned subsidiaries located in Guangdong province, China[101]. - The garment manufacturing business reported a gross profit of $290 for the three months ended December 31, 2025, down from $5,620 in 2024, with a gross profit margin decline to 6.1%[143]. - The company’s garment manufacturing business generated a gross profit of $10,304 for the nine months ended December 31, 2025, down from $50,562 in 2024, with a gross margin increase to 27.4% from 18.8% due to external procurement[164]. Financial Performance - Total revenue for the three months ended December 31, 2025, increased by approximately $110,947, or 12.8%, to $975,823 compared to $864,876 in the same period of 2024[133]. - Gross profit for the three months ended December 31, 2025, was $294,913, representing a 55.1% increase from $190,167 in 2024[145]. - Loss from operations decreased to $68,793 for the three months ended December 31, 2025, from $150,035 in 2024, reflecting a 54.1% improvement[133]. - Total revenue for the nine months ended December 31, 2025, increased by $71,985, or 2.8%, to $2,622,869, driven primarily by a $0.30 million increase in logistics services revenue[155]. - The gross profit for the nine months ended December 31, 2025, was $710,474, representing a gross margin of 27.1%, down from $925,725 and 36.3% in 2024, primarily due to increased costs and competitive pricing strategies[165]. - Loss from operations for the nine months ended December 31, 2025, was $873,516, a significant increase of 78.1% compared to a loss of $490,574 in 2024[171]. - The company incurred a net loss of approximately $4.2 million for the three months ended December 31, 2025, compared to a net loss of approximately $1.1 million for the same period in 2024, with a basic and diluted loss per share of $0.45 and $0.19, respectively[152]. - The company incurred a net loss of approximately $4.7 million for the nine months ended December 31, 2025, compared to a net loss of $3.0 million for the same period in 2024, with basic and diluted loss per share of $0.50 and $0.53, respectively[175]. Expenses and Taxation - General and administrative expenses increased by approximately 13.9% to $354,597 for the three months ended December 31, 2025, from $311,383 in 2024[147]. - Operating expenses increased by 11.8% to $1,583,990 for the nine months ended December 31, 2025, compared to $1,416,299 in 2024[166]. - The income tax expense for the three months ended December 31, 2025, was $248, significantly lower than $3,116 in 2024[149]. - Income tax expense for the nine months ended December 31, 2025, was $1,082, a decrease from $4,643 in 2024, as the company had no taxable income in the PRC[172]. Cash Flow and Financial Position - Net cash used in operating activities was approximately $1.1 million for the nine months ended December 31, 2025, a decrease of approximately $1.9 million compared to cash provided by operating activities of $0.8 million in 2024[176]. - Net cash used in investing activities was approximately $0.28 million for the nine months ended December 31, 2025, which is $0.13 million more than the $0.15 million used in 2024[177]. - Net cash provided by financing activities was approximately $1.3 million for the nine months ended December 31, 2025, compared to cash used of $1.0 million in 2024, reflecting a difference of approximately $0.34 million[178]. - As of December 31, 2025, the company had cash on hand of approximately $0.2 million, total current assets of approximately $27.9 million, and current liabilities of approximately $1.3 million[179]. - The company expects to fund operations through revenue generated by its business, proceeds from prior fundraising activities, and capital contributions from its CEO[179]. Economic Environment - Economic uncertainty in China has led to increased pricing pressure, impacting sales growth and operating margins[115]. - The company has experienced no significant impact on the timeliness of receivable collections despite economic challenges[115]. - The logistics services business is more vulnerable to shipping delays during the Chinese New Year due to traffic and port congestion[110]. Other Financial Information - The company disposed of its property management subsidiary, HX, in July 2025, resulting in an income of $6,857 from the disposal[105]. - As of December 31, 2025, the company has a total of 56,238 square meters of floor space for property management[104]. - The company reported a fair value loss of $4,140,772 for the nine months ended December 31, 2025, compared to a loss of $1,045,448 in 2024, reflecting a 296.1% increase[154]. - The foreign currency translation loss for the nine months ended December 31, 2025, was approximately $(0.12) million, compared to a gain of $0.06 million in 2024[181]. - The company has no off-balance sheet arrangements that could affect its financial condition as of December 31, 2025[182].
Addentax Group Corp. Advances Sovereign-Aligned Stablecoin Initiative in Southeast Asia with Strategic Bitcoin Investor, Within Plan to Pursue up to 12,000 Bitcoins Acquistion
Prnewswire· 2026-02-12 14:25
Core Viewpoint - Addentax Group Corp. is advancing discussions with a strategic Bitcoin investor to develop a sovereign-aligned stablecoin initiative in Southeast Asia, aiming to enhance regulated digital finance infrastructure in the region [1] Group 1: Strategic Initiative - The company is exploring a collaboration with a significant global Bitcoin holder to create a regulatory-compliant stablecoin [1] - This initiative is part of a broader plan to acquire up to 12,000 Bitcoins, as previously announced in July 2025 [1] - The proposed stablecoin aims to support cross-border payments and decentralized finance applications, contingent on regulatory frameworks [1] Group 2: Regulatory Engagement - Addentax and the investor are engaging with governmental and regulatory stakeholders, including central banks, to explore a supportive regulatory framework for the stablecoin [1] - No definitive agreements have been executed yet, and the outcome of discussions remains uncertain [1] Group 3: Technological Integration - The envisioned stablecoin will be fully reserve-backed and independently audited, referencing a diversified basket of fiat currencies and assets [1] - The technology architecture will integrate Addentax's AI-enabled compliance and risk management capabilities with the investor's digital asset infrastructure [1] Group 4: Future Plans - Subject to regulatory developments, a phased implementation approach may begin in the second half of 2026, potentially including regional research and innovation initiatives in Southeast Asia [1] - The initiative could advance institutional-grade DeFi platforms and AI-driven financial applications, pending regulatory approvals [1]
Addentax Group Corp. Announces Proposed Acquisition of Leading Asian AI-Enabled Hong Kong-based Licensed Digital Lending Platform, with Over HK$2 Billion Annual Loan Volume
Prnewswire· 2026-02-11 14:25
Core Viewpoint - Addentax Group Corp. is in late-stage negotiations for the acquisition of a Hong Kong-based licensed digital lending platform, which could enhance its presence in the Asia-Pacific digital finance sector and integrate AI-driven credit technologies [1] Group 1: Acquisition Details - The proposed acquisition involves a Hong Kong-based online credit services provider that operates under a licensed money lending framework, with an annual loan volume exceeding HK$2 billion [1] - The platform serves over 30,000 customers annually and provides financing solutions for consumers and small-to-medium-sized enterprises through technology-enabled channels [1] - If completed, the acquisition would grant Addentax access to local operational expertise and digital origination capabilities [1] Group 2: Technological Integration - The Hong Kong-based platform has developed a loan application system that incorporates algorithm-based credit assessment tools for risk evaluation and automated processing [1] - Integration of these systems could enhance Addentax's financial technology capabilities, including data-driven risk modeling and scalable digital service delivery [1] - The platform has also explored the role of digital assets in lending-related risk management, aligning with Hong Kong's evolving regulatory environment [1] Group 3: Strategic Objectives - The acquisition aligns with Addentax's goal of expanding its participation in technology-enabled financial services markets [1] - Post-acquisition, Addentax intends to leverage the platform's licensing framework and local market knowledge to enhance its operational footprint in Hong Kong and explore broader regional opportunities [1]
Addentax Group Corp. Entered Into Memorandum of Understanding for Potential US$200 Million Strategic Investment with Middle East Royal-Backed Institutional Investors at Proposed Price of $1.50 per Share, Supporting AI and Crypto Strategy
Prnewswire· 2026-02-10 14:25
Core Viewpoint - Addentax Group Corp. has entered into a memorandum of understanding for a potential strategic investment of US$200 million with Middle Eastern royal-backed institutional investors to support its AI and cryptocurrency initiatives [1] Group 1: Investment Details - The investment is structured as two separate MOUs, each investor intending to invest up to US$100 million by acquiring newly issued shares at a fixed price of US$1.50 per share [1] - The company and investors aim to negotiate definitive agreements within six months, which will include a share subscription agreement and related corporate approvals [1] Group 2: Strategic Collaboration - Discussions are ongoing regarding a potential strategic collaboration to advance the company's initiatives in AI and cryptocurrency financial services [1] - The collaboration aims to leverage Addentax's technological expertise and market presence, particularly in Hong Kong, alongside the investors' industry resources and regulatory insights [1] Group 3: Growth Potential - If the investment is finalized, it is expected to strengthen Addentax's balance sheet and provide capital for scaling AI-driven financial technology platforms and expanding compliant cryptocurrency services [1] - The proposed investment reflects the investors' interest in Addentax's business model and long-term growth strategy [1]
Addentax Group Corp. Announces Proposed Acquisition of Artificial Intelligence (AI)-empowered and Crypto-enabled Asset Management Platform, with Potential to Generate Approximately HKD 300 Million in Revenue
Prnewswire· 2026-02-06 14:20
Core Viewpoint - Addentax Group Corp. has announced a proposed strategic acquisition of Riches Group's offshore wealth management and integrated cross-border service business, which is expected to enhance the company's global expansion strategy and contribute approximately HKD 300 million in annualized revenue if completed [1][2]. Group 1: Acquisition Details - The acquisition will provide access to Riches Group's diversified service ecosystem, including global wealth management, international education, immigration consulting, and cross-border healthcare services, which have historically generated monthly transaction volumes exceeding HKD 100 million [2]. - Riches Group's core business assets include a full suite of wealth management services, private banking, fund custody, global fixed-income products, and offshore/US dollar insurance [2]. - The acquisition will also encompass Riches Group's corporate and fiduciary services, supporting over 1,000 high-net-worth families and more than 10,000 households worldwide [2]. Group 2: Technological Integration - The proposed acquisition is expected to provide access to Riches Group's AI-enabled wealth advisory capabilities, enhancing data-driven asset allocation strategies and real-time risk assessments [3]. - Riches Group has developed proprietary algorithms that could improve the precision and efficiency of global wealth management services post-acquisition [3]. - The acquisition will also include access to regulated digital asset-related services, supporting compliant digital currency custody and investment solutions within Hong Kong's regulatory framework [3]. Group 3: Market Expansion - The acquisition aims to support the company's expansion in the global fintech sector, enhancing its presence in high-growth markets such as Southeast Asia, Europe, and North America [4]. - The integration of Riches Group's high-net-worth client base and strategic partnerships with over 100 international institutions is expected to strengthen the company's client network [4]. - The company anticipates benefiting from Riches Group's professional team of over 4,000 advisors and its AI and digital currency R&D capabilities, which could foster technological development and product innovation [4]. Group 4: Future Outlook - Following the acquisition, the company expects to leverage its Nasdaq-listed platform and Riches Group's operational capabilities to develop an integrated cross-border financial services platform [5]. - This combination is believed to enhance the company's ability to serve clients across multiple jurisdictions within the global financial technology sector [5]. - The CEO expressed excitement about the potential to accelerate expansion in the offshore financial market and create greater value for stakeholders if the acquisition is completed [6].
Addentax(ATXG) - 2026 Q2 - Quarterly Report
2025-11-14 11:30
Company Overview - Addentax Group Corp. operates primarily through its subsidiaries in China, focusing on garment manufacturing, logistics services, and property management[92]. Logistics Services - The logistics services segment covers 44 cities across 10 provinces and 2 municipalities, with plans to develop 20 additional logistics routes in 2025[103]. - As of September 30, 2024, the logistics services segment expects to improve profits in 2025 through the establishment of an efficient logistics system[103]. - Revenue from logistics services accounted for approximately $0.8 million, or 98.4%, of total revenue for Q3 2025, compared to $1.0 million, or 71.9%, in Q3 2024[132]. - Revenue from logistics services accounted for approximately $1.6 million, or 98.0% of total revenue for the six months ended September 30, 2025, compared to $1.5 million or 66.2% in 2024[156]. - The gross profit margin for logistics services decreased to 27.1% in Q3 2025 from 47.0% in Q3 2024, primarily due to increased toll expenses and a competitive pricing strategy[140]. - Gross profit margin for logistics services decreased to 25.1% for the six months ended September 30, 2025, down from 47.6% in 2024, attributed to higher toll expenses and competitive pricing strategies[164]. Garment Manufacturing - The garment manufacturing business aims to expand its customer base and improve profit, emphasizing exceptional quality and timely delivery[102]. - The company disposed of AOT in May 2025, indicating a strategic shift in its garment manufacturing operations[98]. - Revenue from the garment manufacturing business contributed approximately $0.01 million, or 1.6%, of total revenue for Q3 2025, down from $0.1 million, or 11.1%, in Q3 2024, attributed to decreased order volume and market competition[131]. - Revenue from garment manufacturing contributed $32,831, or 2.0% of total revenue for the six months ended September 30, 2025, down from approximately $0.2 million or 10.7% in 2024[155]. - The company incurred no labor costs in the garment manufacturing business for Q3 2025, as production was outsourced, compared to 24.5% of revenue in Q3 2024[135]. - Labor costs for garment manufacturing represented approximately 24.8% of total revenue for the six months ended September 30, 2025, compared to 23.2% in 2024, reflecting a decrease in revenue[159]. - Gross profit margin for garment manufacturing was 30.5% for the six months ended September 30, 2025, compared to 19.1% in 2024, mainly due to procurement from external manufacturers[163]. Financial Performance - Total revenue for the three months ended September 30, 2025, decreased by approximately $292,207, or 26.3%, compared to the same period in 2024, primarily due to declines in garment manufacturing and logistics services revenue[130]. - Gross profit for the three months ended September 30, 2025, was $225,147, a decrease of $245,933, or 52.2%, from $471,080 in Q3 2024[141]. - Loss from operations for Q3 2025 was $449,848, compared to a loss of $41,512 in Q3 2024, marking an increase in losses of $408,336, or 983.7%[146]. - Net loss for the three months ended September 30, 2025, was approximately $102,837, compared to a net loss of approximately $721,532 in the same period of 2024, reflecting an improvement of $618,695, or 85.7%[151]. - Basic and diluted loss per share for Q3 2025 was ($0.01), compared to ($0.13) for Q3 2024[151]. - Total revenue for the six months ended September 30, 2025, decreased by $38,962, or 2.3%, compared to the same period in 2024, primarily due to a decrease in garment manufacturing revenue[154]. - Gross profit for the six months ended September 30, 2025, was $415,561, a decrease of 43.5% from $735,558 in 2024[165]. - Loss from operations for the six months ended September 30, 2025, was $804,723, an increase of 136.3% compared to a loss of $340,539 in 2024[169]. - Net loss for the six months ended September 30, 2025, was approximately $495,275, a significant improvement from a net loss of $1,942,643 in 2024[174]. - General and administrative expenses increased by approximately 34.3% to $670,352 in Q3 2025 from $499,193 in Q3 2024[144]. - General and administrative expenses increased by approximately 23.4% to $1.2 million for the six months ended September 30, 2025, compared to $1.0 million in 2024[168]. Cash Flow and Financial Position - Net cash used in operating activities for the six months ended September 30, 2025, was approximately $0.97 million, a decrease of $1.5 million compared to the cash provided by operating activities of $0.53 million in the same period of 2024[175]. - Net cash used in investing activities for the six months ended September 30, 2025, was approximately $0.27 million, which was $0.15 million more than the $0.12 million used in the same period of 2024[176]. - Net cash provided by financing activities for the six months ended September 30, 2025, was approximately $1.36 million, an increase of $1.8 million compared to the cash used in financing activities of $0.4 million in the same period of 2024[177]. - As of September 30, 2025, the company had cash on hand of approximately $0.4 million, total current assets of approximately $27.8 million, and current liabilities of approximately $1.1 million[178]. Economic Environment - Economic uncertainty in China has led to increased pricing pressure, impacting sales growth and operating margins[111]. - The company has experienced continued pricing pressure due to significant economic uncertainty in China, affecting client sensitivity to costs[111]. Foreign Currency and Financing - The company is exposed to foreign currency risks due to operations in China, with all sales conducted in RMB, which has appreciated against the U.S. dollar[180]. - The foreign currency translation loss for the six months ended September 30, 2025, was approximately $(0.08) million, compared to a loss of $(0.05) million in the same period of 2024[180]. - The company plans to seek additional equity financing if required for future growth and strategic objectives, as indicated by the CEO[179]. - The company has no off-balance sheet arrangements that could affect its financial condition as of September 30, 2025[181].
美股异动丨盈喜集团跌29.79%，为跌幅最大的中概股
Ge Long Hui· 2025-10-22 00:25
Group 1 - The core point of the article highlights the significant declines in the stock prices of several Chinese concept stocks, with notable drops in their trading values [1] Group 2 - Yingxi Group (ATXG) experienced the largest decline, falling by 29.79% to a latest price of 0.6621, with a trading volume of 758,100 [1] - Bgin Blockchain (BGIN) saw a decrease of 17.33%, closing at 4.960, with a trading volume of 16,673,400 [1] - Meihua International (MHUA) dropped by 16.93%, with a latest price of 0.2698 and a trading volume of 220,900 [1] - Everbright Digital (EDHL) fell by 15.83%, closing at 1.010, with a trading volume of 2,762,100 [1] - American Green Sky (PLAG) declined by 14.29%, with a latest price of 2.160 and a trading volume of 234,300 [1]
Why Super League Enterprise Shares Are Trading Higher By 200%; Here Are 20 Stocks Moving Premarket - Addentax Group (NASDAQ:ATXG), Better Home & Finance (NASDAQ:BETR)
Benzinga· 2025-09-23 09:41
Group 1: Super League Enterprise, Inc. - Super League Enterprise, Inc. announced a $10 million strategic equity investment from Evo Fund, leading to a sharp increase in its stock price [1] - Shares of Super League Enterprise rose 200% to $9.83 in pre-market trading following the announcement [1] Group 2: Other Notable Gainers - Professional Diversity Network, Inc. gained 88.8% to $5.40 in pre-market trading after a previous rise of around 4% [4] - STRATA Skin Sciences, Inc. rose 80% to $3.06 in pre-market trading after an 8% increase on Monday [4] - Jiuzi Holdings, Inc. jumped 50.9% to $1.69 in pre-market trading after a 5% gain on Monday [4] - New Era Energy & Digital, Inc. gained 47.2% to $0.8941 in pre-market trading after a surge of around 12% on Monday [4] - Better Home & Finance Holding Company increased by 30% to $64.95 in pre-market trading, following a 46% jump on Monday [4] - MicroCloud Hologram Inc. surged 29% to $7.17 in pre-market trading after announcing a breakthrough in quantum technology [4] - Cassava Sciences, Inc. rose 24.1% to $2.88 in pre-market trading after CEO Richard Barry purchased shares at an average price of $2.25 [4] - SES AI Corporation surged 10.3% to $2.04 in pre-market trading after a 17% increase on Monday [4] - Ballard Power Systems Inc. gained 8.3% to $3.12 in pre-market trading after a 5% rise on Monday [4] Group 3: Notable Decliners - Psyence Biomedical Ltd. dipped 19.6% to $3.65 in pre-market trading after a decline of around 5% on Monday [4] - Diginex Limited shares fell 17.7% to $14.60 in pre-market trading after a jump of over 30% on Monday [4] - Addentax Group Corp. declined 16.5% to $0.9021 in pre-market trading after gaining more than 30% on Monday [4] - Boxlight Corporation fell 15.5% to $4.03 in pre-market trading after a significant jump of 205% on Monday [4] - Reliance Global Group, Inc. dropped 15.5% to $0.9122 in pre-market trading after a 47% increase on Monday [4] - Qualigen Therapeutics, Inc. declined 14.1% to $4.75 in pre-market trading after a 95% jump on Monday [4] - Fly-E Group, Inc. fell 13.1% to $0.8773 in pre-market trading after announcing a securities purchase agreement [4] - Firefly Aerospace Inc. dropped 12.5% to $43.29 in pre-market trading after reporting a second-quarter loss [4] - Opendoor Technologies Inc. dipped 6.3% to $7.85 in pre-market trading after a 12% fall on Monday [4] - Symbotic Inc. fell 4.8% to $57.80 in pre-market trading after a gain of more than 6% on Monday [4]
