MingZhu Logistics Enters Share Purchase Agreement to Acquire Mingzhuchun

Core Viewpoint - MingZhu Logistics Holdings Limited has announced its acquisition of Shenzhen Mingzhuchun Wine Co., Ltd., aiming to expand into China's liquor distribution sector, leveraging synergies with its existing logistics operations [1][4]. Group 1: Acquisition Details - MingZhu will acquire 100% of Mingzhuchun in exchange for 2,000,000 ordinary shares upon closing of the transaction [2]. - Additional earnout payments of 2,000,000 ordinary shares each will be made if Mingzhuchun achieves a net income of no less than US$1 million for the fiscal years 2025 and 2026 [2]. Group 2: Strategic Alignment - The acquisition aligns with MingZhu's strategic plan to enter the commercial liquor distribution sector in China [4]. - The company is exploring partnerships with established liquor distributors to enhance its distribution network across the country [4]. Group 3: Industry Context - Mingzhuchun specializes in distributing high-quality liquor from Maotai Town, Guizhou, known for its prestigious baijiu production [5]. - Baijiu is the national drink of China, dominating the domestic spirits market and is integral to various social and business occasions [5].