PART I [Key Information](index=8&type=section&id=Item%203.%20Key%20Information) This section outlines significant investment risks related to corporate structure, China operations, and business specifics [Risk Factors](index=8&type=section&id=3.D.%20Risk%20Factors) Details specific risks including the VIE structure, customer concentration, PRC regulations, and internal control weaknesses - The company operates through a **VIE structure** in China, meaning investors hold shares in a Cayman Islands holding company, not the PRC operating entities, which carries significant legal and regulatory risks[36](index=36&type=chunk)[37](index=37&type=chunk) - The **Holding Foreign Companies Accountable Act (HFCAA)** poses a risk of trading prohibition on U.S. exchanges if the PCAOB cannot inspect the company's auditor for two consecutive years[84](index=84&type=chunk)[86](index=86&type=chunk)[90](index=90&type=chunk) - The company has identified a **material weakness in its internal control** over financial reporting due to a lack of sufficient skilled staff with knowledge of U.S. GAAP and SEC reporting requirements[185](index=185&type=chunk)[700](index=700&type=chunk) - A significant portion of revenue comes from a small number of major customers, with the top five accounting for **73.6% of total revenue in fiscal year 2024**, indicating increasing concentration risk[122](index=122&type=chunk) - The company faces **cybersecurity risks** and must comply with evolving PRC laws, where failure could result in significant penalties and reputational damage[96](index=96&type=chunk)[98](index=98&type=chunk) [Information on the Company](index=59&type=section&id=Item%204.%20Information%20on%20the%20Company) Provides an overview of the company's history, diversified business operations, and VIE-based corporate structure [History and Development of the Company](index=59&type=section&id=4.A.%20History%20and%20Development%20of%20the%20Company) Details the company's incorporation, IPO, strategic acquisitions, and recent corporate actions like a reverse stock split - Completed its **IPO on the Nasdaq Capital Market** on October 21, 2020, raising gross proceeds of $12 million[232](index=232&type=chunk) - Acquired Yinhua in March 2022 to enter the **car owner services market**, providing services to insurance companies[238](index=238&type=chunk)[240](index=240&type=chunk) - Acquired Feipeng BVI in December 2022 to expand its **regional trucking services**, particularly in Xinjiang[242](index=242&type=chunk) - Acquired Alliance BVI in May 2023, entering the **liquor distribution business** in China[243](index=243&type=chunk) - On July 1, 2024, the company executed a **1-for-8 reverse stock split** of its ordinary shares[247](index=247&type=chunk) - In January 2025, the company agreed to sell up to **120 million restricted ordinary shares** to non-U.S. persons at $0.40 per share[251](index=251&type=chunk) [Business Overview](index=65&type=section&id=4.B.%20Business%20Overview) Details the company's diversified operations in trucking, car owner services, and liquor distribution within the PRC - The company's business is diversified into three main segments: **Trucking Services, Car Owner Services, and Liquor Distribution**[255](index=255&type=chunk)[261](index=261&type=chunk) - Trucking services, the core business, operate from terminals in Guangdong and Xinjiang and is accredited as a **4A-grade trucking service provider**[263](index=263&type=chunk)[304](index=304&type=chunk) - Car owner services are provided through the VIE Zhisheng, offering value-added services for **auto insurance companies**[264](index=264&type=chunk)[265](index=265&type=chunk) - Liquor distribution is conducted through the VIE Liquor Alliance, focusing on the wholesale of **Baijiu and other Chinese spirits**[268](index=268&type=chunk) Intellectual Property Portfolio | Type | Count | | :--- | :--- | | PRC Patents | 6 (1 invention, 5 utility) | | PRC Copyrights | 17 (16 software, 1 art-work) | | PRC Trademarks | 1 | | Domain Names | 1 | [Organizational Structure](index=86&type=section&id=4.C.%20Organizational%20Structure) Explains the Cayman Islands holding company structure and its reliance on VIE agreements to control PRC operations - The company is a Cayman Islands holding company that controls its key PRC operating entities through **VIE agreements** rather than direct ownership[354](index=354&type=chunk)[357](index=357&type=chunk) - The **VIE structure is subject to significant risks**, including potential unenforceability of contracts under PRC law and adverse regulatory changes[358](index=358&type=chunk)[359](index=359&type=chunk)[361](index=361&type=chunk) - The company controls three main VIEs: **Liquor Alliance** (liquor distribution), **Zhisheng** (car owner services), and **Feipeng** (regional trucking services)[363](index=363&type=chunk)[382](index=382&type=chunk)[396](index=396&type=chunk) [Operating and Financial Review and Prospects](index=96&type=section&id=Item%205.%20Operating%20and%20Financial%20Review%20and%20Prospects) Analyzes financial performance, highlighting a significant revenue decrease and net loss in FY2024 due to strategic shifts [Operating Results](index=96&type=section&id=5.A.%20Operating%20Results) Presents a 54.6% revenue decrease to $40.4 million and a net loss of $6.2 million for fiscal year 2024 Consolidated Results of Operations (2024 vs. 2023) | Metric | 2024 | 2023 | Change (%) | | :--- | :--- | :--- | :--- | | **Revenues** | $40,429,750 | $89,002,243 | (54.6)% | | **Gross Profit** | $792,796 | $3,074,106 | (74.2)% | | **Gross Margin** | 2.0% | 3.5% | - | | **(Loss)/Income from Operations** | $(4,034,531) | $848,898 | (575.3)% | | **Net (Loss)/Income** | $(6,187,511) | $365,091 | (1794.8)% | Consolidated Results of Operations (2023 vs. 2022) | Metric | 2023 | 2022 | Change (%) | | :--- | :--- | :--- | :--- | | **Revenues** | $89,002,243 | $63,515,071 | 40.1% | | **Gross Profit** | $3,074,106 | $2,715,597 | 13.2% | | **Gross Margin** | 3.5% | 4.3% | - | | **Income/(Loss) from Operations** | $848,898 | $(100,052) | n/a | | **Net Income/(Loss)** | $365,091 | $(58,327) | n/a | - The significant revenue decrease in 2024 was attributed to a decline in revenues from the Guangdong region and a **strategic shift to a platform-based logistics company**[469](index=469&type=chunk) - The increase in revenue in 2023 was primarily attributable to the **acquisition of certain subsidiaries and VIEs** in 2023 and 2022[479](index=479&type=chunk) [Liquidity and Capital Resources](index=111&type=section&id=5.B.%20Liquidity%20and%20Capital%20Resources) Details the company's cash position, cash flows, and capital resources, noting reliance on PRC subsidiary distributions Cash and Cash Equivalents by Jurisdiction (As of Dec 31, 2024) | Jurisdiction | Amount (USD) | | :--- | :--- | | Cayman | $240,307 | | BVI | $8,106 | | Hong Kong | $129,128 | | PRC - subsidiaries | $33,264 | | PRC - VIEs | $287,434 | | **Total** | **$698,239** | Summary of Cash Flows (For the year ended Dec 31) | Cash Flow Activity | 2024 | 2023 | | :--- | :--- | :--- | | Net cash used in operating activities | $(2,593,308) | $(12,351,357) | | Net cash used in investing activities | $(580,364) | $89,950 (provided) | | Net cash provided by financing activities | $491,084 | $12,037,761 | - The company has **not made any dividend distributions** to U.S. investors and intends to retain future earnings to finance business expansion[503](index=503&type=chunk)[506](index=506&type=chunk) - The company is involved in two notable legal proceedings, including a contract dispute with a claim of RMB 1.67 million and a loan dispute resulting in a **judgment to pay RMB 23.38 million**[306](index=306&type=chunk)[307](index=307&type=chunk)[510](index=510&type=chunk)[511](index=511&type=chunk) [Directors, Senior Management and Employees](index=117&type=section&id=Item%206.%20Directors%2C%20Senior%20Management%20and%20Employees) Provides information on the company's leadership, compensation, board structure, and employee base Executive Officers and Directors | Name | Position | | :--- | :--- | | Jinlong Yang | Chairman of the Board of Directors and Chief Executive Officer | | Jingwei Zhang | Chief Financial Officer, Director | | Mikael Charette | Independent Director | | Zhi Xia | Independent Director | | Jie Zhong | Independent Director | - For the fiscal year ended December 31, 2024, the aggregate cash compensation paid to all directors and senior management was **$54,000**[537](index=537&type=chunk) - The Board has established an **Audit, Compensation, and Nominating and Corporate Governance committee**, all composed of independent directors[542](index=542&type=chunk)[543](index=543&type=chunk)[544](index=544&type=chunk) - As of December 31, 2024, the company had **26 full-time employees**, primarily in management, administration, and operations[302](index=302&type=chunk) - On March 20, 2024, the company adopted the **2024 Incentive Plan** to register 5,000,000 ordinary shares for issuance[538](index=538&type=chunk) [Major Shareholders and Related Party Transactions](index=124&type=section&id=Item%207.%20Major%20Shareholders%20and%20Related%20Party%20Transactions) Details the company's major shareholders and significant transactions and balances with related parties Beneficial Ownership of Executive Officers and Directors | Name | Beneficial Ownership | Percentage of Outstanding Shares | | :--- | :--- | :--- | | Jinlong Yang | 675,000 | 0.88% | | All directors and executive officers as a group (5 individuals) | 675,000 | 0.88% | Related Party Balances (as of Dec 31, 2024) | Type | Amount (USD) | | :--- | :--- | | Amount due from related parties | $1,279,069 | | Amount due to related parties | $6,825,203 | - Related parties have provided significant **guarantees and collateral for the company's bank borrowings**, totaling approximately $3.3 million in carrying amount as of December 31, 2024[556](index=556&type=chunk)[961](index=961&type=chunk) [Financial Information](index=128&type=section&id=Item%208.%20Financial%20Information) Refers to the full consolidated financial statements and outlines the company's policy of retaining earnings for reinvestment - The company's consolidated financial statements are located at the end of the Form 20-F, beginning on **page F-1**[560](index=560&type=chunk) - The company has **never declared a dividend** and does not plan to in the foreseeable future, intending to retain earnings for business growth[561](index=561&type=chunk) [Additional Information](index=129&type=section&id=Item%2010.%20Additional%20Information) Covers details on share capital, material contracts, exchange controls, and key taxation considerations - The company is authorized to issue **100,000,000 ordinary shares** with a par value of $0.008 each[571](index=571&type=chunk)[580](index=580&type=chunk) - **Material contracts** in the last two years include acquisition agreements and several securities purchase agreements for financing[619](index=619&type=chunk)[621](index=621&type=chunk)[622](index=622&type=chunk)[624](index=624&type=chunk) - The company is subject to **PRC foreign exchange controls**, where Renminbi is not freely convertible and fund transfers require government approval[627](index=627&type=chunk)[628](index=628&type=chunk) - There is a risk the company could be classified as a **PRC resident enterprise**, which would subject its global income to a 25% PRC enterprise income tax[635](index=635&type=chunk)[636](index=636&type=chunk) - The company may be classified as a **Passive Foreign Investment Company (PFIC)** for U.S. federal income tax purposes, which could result in adverse tax consequences for U.S. shareholders[207](index=207&type=chunk)[656](index=656&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=145&type=section&id=Item%2011.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) Details the company's exposure to interest rate, foreign exchange, and liquidity risks - The company is exposed to interest rate risk from its debt; a hypothetical **1% change in interest rates** would have affected 2024 profit by approximately $36,000[675](index=675&type=chunk) - Significant **foreign exchange risk** exists as almost all revenues and costs are in RMB, but financial statements are reported in USD[676](index=676&type=chunk) - **Credit risk** is managed through ongoing evaluation of customers, with maximum loss represented by the carrying amount of financial assets[672](index=672&type=chunk)[678](index=678&type=chunk) PART II [Material Modifications to the Rights of Security Holders and Use of Proceeds](index=147&type=section&id=Item%2014.%20Material%20Modifications%20to%20the%20Rights%20of%20Security%20Holders%20and%20Use%20of%20Proceeds) Outlines the use of proceeds from financing activities for strategic acquisitions and general corporate purposes - Net proceeds from the IPO and subsequent offerings were used to **fund acquisitions** and for general corporate purposes[688](index=688&type=chunk)[689](index=689&type=chunk)[690](index=690&type=chunk) - As of the date of the annual report, the company had **76,679,065 ordinary shares outstanding**[693](index=693&type=chunk) [Controls and Procedures](index=147&type=section&id=Item%2015.%20Controls%20and%20Procedures) Discloses that disclosure controls were not effective due to a material weakness in internal control over financial reporting - Management concluded that as of December 31, 2024, the company's **disclosure controls and procedures were not effective**[695](index=695&type=chunk) - A **material weakness was identified** in internal control over financial reporting due to a lack of sufficient skilled staff with U.S. GAAP and SEC reporting knowledge[700](index=700&type=chunk) - Remediation plans include **hiring additional experienced accounting personnel** and providing regular training[702](index=702&type=chunk) [Corporate Governance and Other Disclosures](index=151&type=section&id=Item%2016.%20Corporate%20Governance%20and%20Other%20Disclosures) Covers governance topics including the audit committee, accountant fees, and reliance on home country practices - Mr. Jie Zhong is designated as the **"audit committee financial expert"**[706](index=706&type=chunk) Principal Accountant Fees (2024) | Fee Category | Amount (USD) | | :--- | :--- | | Audit Fees | $140,000 | | Audit-Related Fees | $30,000 | | **Total** | **$170,000** | - On February 27, 2025, the company dismissed Audit Alliance LLP and **appointed Li CPA LLC** as its independent registered public accounting firm[714](index=714&type=chunk)[710](index=710&type=chunk) - As a foreign private issuer, the company follows certain **Cayman Islands home country practices**, exempting it from some Nasdaq corporate governance rules[715](index=715&type=chunk)[721](index=721&type=chunk) - The company has implemented a **cybersecurity risk management framework** and reported no material incidents for the year ended December 31, 2024[722](index=722&type=chunk)[723](index=723&type=chunk)[724](index=724&type=chunk) PART III [Financial Statements](index=156&type=section&id=Item%2018.%20Financial%20Statements) Presents the company's consolidated financial statements and reports from its independent auditors Consolidated Balance Sheet Highlights (As of Dec 31) | Metric (USD) | 2024 | 2023 | | :--- | :--- | :--- | | **Total Assets** | $90,331,803 | $127,354,302 | | **Total Liabilities** | $45,578,500 | $82,797,349 | | **Total Shareholders' Equity** | $44,753,303 | $44,556,953 | Consolidated Statement of Income Highlights (Year Ended Dec 31) | Metric (USD) | 2024 | 2023 | 2022 | | :--- | :--- | :--- | :--- | | **Revenues** | $40,429,750 | $89,002,243 | $63,515,071 | | **Net (Loss)/Income from Continuing Operations** | $(6,187,511) | $365,091 | $(58,327) | | **Net (Loss)/Income** | $(6,187,511) | $(9,579,760) | $1,896,188 | | **Basic EPS (USD)** | $(1.31) | $(2.98) | $0.71 | Consolidated Statement of Cash Flows Highlights (Year Ended Dec 31) | Metric (USD) | 2024 | 2023 | | :--- | :--- | :--- | | **Net cash used in operating activities** | $(2,593,308) | $(10,079,465) | | **Net cash (used in)/provided by investing activities** | $(580,364) | $89,950 | | **Net cash provided by financing activities** | $491,084 | $8,553,064 | | **Cash at end of year** | $698,239 | $4,004,740 | [Notes to the Consolidated Financial Statements](index=169&type=section&id=Notes%20to%20the%20Consolidated%20Financial%20Statements) Provides detailed explanations of accounting policies, significant events, and financial data composition - On December 30, 2023, the company disposed of its interest in Cheyi BVI, with results reclassified as **discontinued operations** for all periods presented[768](index=768&type=chunk)[868](index=868&type=chunk) - For the year ended December 31, 2024, the company recorded a **credit loss of $2.6 million** under the CECL model[814](index=814&type=chunk)[815](index=815&type=chunk) - As of December 31, 2024, **goodwill on the balance sheet totaled $41.1 million** from acquisitions, with no impairment identified[881](index=881&type=chunk)[883](index=883&type=chunk) - The company's VIEs are consolidated based on contractual agreements that grant **effective control and economic benefits** despite lacking direct equity ownership[901](index=901&type=chunk)[902](index=902&type=chunk)[920](index=920&type=chunk)[936](index=936&type=chunk) - Subsequent to year-end, the company issued **70 million restricted ordinary shares** and received a delisting notice from Nasdaq for failing to meet the minimum bid price requirement[1003](index=1003&type=chunk)[1004](index=1004&type=chunk)

Core Insights - MingZhu Logistics Holdings Limited has secured a significant coal transport contract with Ruoqiang Tengyue Logistics Co., Ltd. through its subsidiary, Shenzhen Yangang Mingzhu Supply Chain Management Co. [1][2] - The contract entails providing coal transportation services until March 20, 2030, utilizing approximately 300 trucks during the contract period [2]. Company Overview - MingZhu Logistics Holdings Limited, established in 2002 and headquartered in Shenzhen, China, is recognized as a 4A-rated professional trucking service provider [5]. - The company operates regional logistics terminals in Guangdong Province, offering tailored logistics solutions through a combination of self-owned and subcontracted fleets [5]. Subsidiary Insights - Mingzhu Supply Chain, founded in 2018, focuses on providing integrated logistics solutions aimed at reducing costs and enhancing efficiency within the supply chain [3]. - The subsidiary's recent contract win is seen as a significant milestone, reinforcing its market position and driving growth momentum for the company [3]. Partner Insights - Ruoqiang Logistics specializes in coal transportation, connecting power plants and chemical factories with efficient logistics solutions [4]. - The company emphasizes operational excellence and customer satisfaction, ensuring timely delivery of coal, which is critical for energy and industrial operations [4]. - Ruoqiang Logistics is noted for its strong cash flow management, enabling financial stability and strategic investments [4].

[Financial Statements](index=1&type=section&id=Financial%20Statements) This section presents the company's interim consolidated financial statements, detailing its financial position, performance, and cash flows [Interim Condensed Consolidated Balance Sheets](index=1&type=section&id=Interim%20Condensed%20Consolidated%20Balance%20Sheets) As of June 30, 2024, total assets decreased to **$111.8 million** from **$127.4 million**, driven by reduced cash and receivables, while shareholders' equity declined to **$40.1 million** due to accumulated losses, indicating a weakening financial position Interim Condensed Consolidated Balance Sheets (USD) | Financial Item | June 30, 2024 (Unaudited) (USD) | December 31, 2023 (USD) | | :--- | :--- | :--- | | **Total Current Assets** | $66,815,839 | $83,841,763 | | **Total Assets** | **$111,794,574** | **$127,354,302** | | **Total Current Liabilities** | $71,147,426 | $82,676,261 | | **Total Liabilities** | **$71,661,239** | **$82,797,349** | | **Total Shareholders' Equity** | **$40,133,335** | **$44,556,953** | - Cash decreased significantly from **$3.7 million** to **$1.3 million**, and Accounts Receivable nearly halved from **$31.6 million** to **$16.0 million** between December 31, 2023, and June 30, 2024[2](index=2&type=chunk) - The company's equity position deteriorated, with retained earnings turning into an accumulated loss of **$(4.9) million** from retained earnings of **$4.9 million** at the end of 2023[2](index=2&type=chunk) [Interim Condensed Consolidated Statements of Income and Comprehensive Income](index=2&type=section&id=Interim%20Condensed%20Consolidated%20Statements%20of%20Income%20and%20Comprehensive%20Income) For the six months ended June 30, 2024, revenues sharply declined to **$22.9 million**, resulting in a significant operating loss of **$11.1 million** and a net loss of **$9.8 million**, a substantial deterioration from the prior year Interim Condensed Consolidated Statements of Income and Comprehensive Income (USD) | Metric | Six Months Ended June 30, 2024 (USD) | Six Months Ended June 30, 2023 (USD) | | :--- | :--- | :--- | | **Revenues** | $22,894,170 | $56,090,997 | | **Loss from Operations** | $(11,104,457) | $(901,909) | | **Net Loss** | $(9,798,388) | $(805,636) | | **Losses Per Share - Basic** | $(0.30) | $(0.04) | - Revenues for the first six months of 2024 fell by **59.2%** year-over-year[3](index=3&type=chunk) - General and administrative expenses surged to **$11.2 million** from **$2.1 million** in the prior-year period, contributing significantly to the increased operating loss[3](index=3&type=chunk) - The company ceased its Car-hailing and driver management services, which had generated costs of **$13.0 million** in the first half of 2023, and incurred new costs related to liquor distribution[3](index=3&type=chunk) [Interim Condensed Consolidated Statements of Changes in Shareholders' Equity](index=3&type=section&id=Interim%20Condensed%20Consolidated%20Statements%20of%20Changes%20in%20Shareholders'%20Equity) Shareholders' equity decreased from **$44.6 million** to **$40.1 million** by June 30, 2024, primarily due to a **$9.8 million** net loss, partially offset by new share issuance and foreign currency translation adjustments Interim Condensed Consolidated Statements of Changes in Shareholders' Equity (USD) | Description | Amount (USD) | | :--- | :--- | | **Balance, December 31, 2023** | **$44,556,953** | | Net loss for the period | $(9,798,388) | | Foreign currency translation adjustment | $1,073,994 | | Issuance of shares | $4,300,776 | | **Balance, June 30, 2024** | **$40,133,335** | - The company's retained earnings of **$4.9 million** at the start of the period were wiped out by the **$9.8 million** net loss, resulting in an accumulated deficit of **$(4.9) million**[4](index=4&type=chunk) - The number of outstanding shares increased from **27,529,372** to **37,496,372** due to the new share issuance[4](index=4&type=chunk) [Interim Condensed Consolidated Statements of Cash Flows](index=4&type=section&id=Interim%20Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) For the first six months of 2024, the company's cash position deteriorated, with net cash used in operating activities worsening to **$7.4 million**, leading to a net decrease in cash of **$2.4 million**, despite positive financing activities Interim Condensed Consolidated Statements of Cash Flows (USD) | Cash Flow Activity | Six Months Ended June 30, 2024 (USD) | Six Months Ended June 30, 2023 (USD) | | :--- | :--- | :--- | | **Net cash used in operating activities** | $(7,377,714) | $(3,965,784) | | **Cash provided by investing activities** | $88,287 | $31,102 | | **Net cash provided by financing activities** | $5,336,809 | $2,703,275 | | **Net decrease in cash** | $(2,397,429) | $(1,379,948) | | **Cash at end of the period** | $1,278,953 | $4,307,363 | - The increased cash outflow from operations was primarily driven by the larger net loss, despite positive changes from non-cash items like a **$5.6 million** allowance for credit losses[5](index=5&type=chunk) - Financing activities were a key source of cash, with **$5.1 million** advanced from related parties being the largest contributor[5](index=5&type=chunk)

Core Viewpoint - MingZhu Logistics Holdings Limited announced the acquisition of HOLDCO 36, which is expected to transform the company into higher growth market segments with favorable regulatory conditions and demand catalysts [1][2]. Company Overview - MingZhu Logistics Holdings Limited, established in 2002 and headquartered in Shenzhen, China, is a 4A-rated professional trucking service provider, offering tailored logistics solutions across the country [3]. Acquisition Details - The acquisition of HOLDCO 36 is an all-stock transaction subject to customary closing conditions, including regulatory approvals [1]. - The acquisition is part of MingZhu's active M&A strategy, focusing on long-term potential and shareholder value [2]. - The initial business assets being acquired include: - Green Fuel Smart Trading Platform, aimed at establishing a global distribution platform for sustainable fuels [2]. - EPC+O services for biomass energy and new energy systems, providing consulting services across multiple continents [2]. - An intelligent financial service platform for leasing green vessels and maritime equipment [2]. - Digital Energy Services Segment targeting the steel industry, focusing on carbon reduction and energy management [2].

Core Points - MingZhu Logistics Holdings Limited has regained compliance with Nasdaq Listing Rule 5550(a)(2) after curing a bid price deficiency, allowing its ordinary shares to continue trading uninterrupted under the ticker "YGMZ" [1] Company Overview - MingZhu Logistics Holdings Limited, established in 2002 and headquartered in Shenzhen, China, is a 4A-rated professional trucking service provider [2] - The company operates regional logistics terminals in Guangdong Province, offering tailored logistics solutions through a combination of self-owned fleets and subcontractors' fleets, ensuring broad geographic coverage across China [2]

Core Viewpoint - MingZhu Logistics Holdings Limited has secured a significant one-year vehicle transport contract with Sinotrans Logistics, enhancing its operational capacity and financial performance [1][2]. Company Overview - MingZhu Logistics Holdings Limited, established in 2002 and headquartered in Shenzhen, China, is a 4A-rated professional trucking service provider, offering tailored logistics solutions across the country [4]. - The company operates through regional logistics terminals in Guangdong Province, utilizing a combination of self-owned and subcontracted fleets to deliver goods efficiently [4]. Contract Details - The contract awarded to MingZhu's subsidiary, Shanghai Feipeng Supply Chain Management Co., Ltd., involves transporting new energy commercial vehicles from Zhejiang Geely Holding Group's factories to various destinations in China [1]. - Initially, Feipeng will deploy 100 trucks for this transportation service, which will last until June 2025 [1]. Strategic Importance - The contract win is seen as a demonstration of MingZhu's capability to support high-profile customers, which is expected to drive significant growth and momentum for the company [2]. - Sinotrans Logistics, the contracting party, is one of the largest contract logistics companies in China, operating multiple business platforms and collaborating with numerous Fortune 500 companies [3].

Core Viewpoint - MingZhu Logistics Holdings Limited has announced its agreement to acquire Oxylus Global Inc as part of its strategy for business diversification and growth acceleration, with the acquisition expected to close by the end of 2024, subject to regulatory approvals [1][2]. Group 1: Acquisition Details - The acquisition of Oxylus is an all-stock deal aimed at enhancing MingZhu's capabilities in logistics and transportation services [1]. - The closing of the acquisition is contingent upon customary closing conditions, including regulatory approvals [1]. Group 2: Strategic Goals - The latest phase of MingZhu's strategy focuses on integrating transformational technologies to modernize the logistics industry into a high-performance platform utilizing satellite and AI-based services [2]. - Oxylus plans to invest in technologies such as satellite-based communication, IoT infrastructure, and AI-powered platforms, which are expected to enhance operational efficiencies and create new fintech services [2]. Group 3: Leadership Perspective - The Chairman and CEO of MingZhu expressed confidence that the acquisition of Oxylus will accelerate growth and expand future opportunities, creating long-term value for shareholders [3]. - The management team recognizes the critical importance of adopting new technologies to gain competitive advantages in the evolving market landscape [3]. Group 4: About Oxylus - Oxylus Global Inc is a digital asset infrastructure service company that operates a global satellite network and is developing a space-based supercomputing and optical communications network [4]. - The company has planned headquarters in Zug, Switzerland, with regional offices in Shanghai, Seoul, and New York [4]. Group 5: About MingZhu - MingZhu Logistics Holdings Limited, established in 2002 and headquartered in Shenzhen, China, is a professional trucking service provider with a focus on tailored logistics solutions across the country [5].

SHENZHEN, China, May 17, 2024 /PRNewswire/ -- MingZhu Logistics Holdings Limited ("MingZhu" or the "Company") (Nasdaq: YGMZ), an elite provider of logistics and transportation services to businesses, today announced it will partner with Carbonomi Trust ("Carbonomi"), a leading investor in energy transition-related technologies and companies including satellite-based communication and IoT infrastructure. The strategic partners will leverage their respective expertise and resources to build a high-performance ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of ...

SHENZHEN, China, May 1, 2024 /PRNewswire/ -- MingZhu Logistics Holdings Limited ("MingZhu" or the "Company") (Nasdaq: YGMZ), an elite provider of logistics and transportation services to businesses, today announced it has entered into a non-binding memorandum of understanding to acquire Xiamen Mingfu Liquor Industry Co., Ltd., a China-based distributor of Baijiu. The acquisition, subject to a final agreement, will help accelerate growth of MingZhu's premium liquor business in China, which includes self-owne ...