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 ...

SHENZHEN, China, March 4, 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 signed a non-binding letter of intent (the "LOI") to acquire driverless auto technologies and intellectual property ("IP") portfolio valued between US$80 million and US$90 million. The sellers are The Carbonomi Trust and CYF (BVI) Limited (the "Sellers"). The Company plans to conduct fur ...

SHENZHEN, China, Jan. 23, 2024 /PRNewswire/ -- MingZhu Logistics Holdings Limited ("MingZhu" or the "Company") (NASDAQ: YGMZ), an elite provider of logistics and transportation services to businesses, today announced that on January 23, 2024, it received notification from The Nasdaq Stock Market LLC ("NASDAQ") confirming the Company has been granted an additional 180 calendar day period for compliance under its minimum bid price requirement through July 22, 2024.  To regain compliance with NASDAQ's minimum ...

Exhibit 99.1 Mingzhu Announces Unaudited Financial Results for the Six Months Ended June 30, 2023 SHENZHEN, China, December 27, 2023 – MingZhu Logistics Holdings Limited ("MingZhu" or the "Company") (NASDAQ: YGMZ), an elite provider of logistics and transportation services to businesses, today announced its unaudited financial results for the six months ended June 30, 2023. Mr. Jinlong Yang, CEO of MingZhu, commented, "While the broader economic environment remained challenged, with customers adjusting to d ...

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, 2022 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 ...

Revenue and Profitability - Revenue for the six months ended June 30, 2021, increased by $0.7 million, or 8.2%, to $9.6 million from $8.9 million for the same period last year[2] - Gross profit increased by $0.2 million, or 15.0%, to $1.4 million, with gross margin improving by 0.8 percentage points to 14.3%[2] - Operating income increased by $74,926, or 24.0%, to $386,940, resulting in an operating margin of 4.0%[4] - Income from operations improved to $386,940, compared to $312,014 in the previous year, marking a 24% increase[14] - Net income reported a loss of $355,744, contrasting with a profit of $106,698 in 2019[14] - Basic loss per share was $(0.02), down from earnings of $0.01 per share in the previous year[14] Expenses and Costs - General and administrative expenses rose by $352,270, or 61.0%, to $932,409, primarily due to increased professional fees[3] - Total costs and expenses rose to $9,215,140, up from $8,560,958, reflecting a 7.6% increase[14] - Interest paid during the period was $200,435, compared to $154,324 in the previous year[20] Cash and Working Capital - As of June 30, 2021, cash and restricted cash totaled $14.2 million, up from $11.6 million at December 31, 2020[5] - Accounts receivable decreased to $2.5 million from $5.3 million, reflecting improved collection from large customers[5] - Total working capital increased to $31.6 million as of June 30, 2021, compared to $17.7 million at December 31, 2020[5] - Cash flows from operating activities showed a net cash used of $(5,023,938), compared to $1,483,661 provided in 2020[20] - Cash and restricted cash at the end of the period totaled $14,193,923, up from $353,265 at the beginning[21] Strategic Initiatives - The company has announced a strategic shift to an asset-light strategy following the closure of its Xinjiang operation[1] - MingZhu is pursuing business diversification, including a major cooperation agreement with China Merchants Logistics Group Urumqi Limited[1] - The company is expanding into the commercial liquor distribution market, leveraging synergies with its existing business[1] Foreign Currency and Other Adjustments - The company reported a foreign currency translation adjustment loss of $(394,292) for the period[18]