MingZhu Logistics Agrees to Acquire Oxylus Global; Company Targeting Continued Aggressive Diversification and Growth Acceleration Strategy

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].