ROSLYN, N.Y., June 19, 2019 /PRNewswire/ -- Sino-Global
Shipping America, Ltd. (NASDAQ: SINO) ("Sino-Global", the "Company"
or "us"), a non-asset based global shipping and freight logistics
integrated solution provider, today announced an update to its
strategy regarding the expansion of its shipping agency business
through the expansion of a physical network development throughout
China. This will be a key part of
the Company's developmental strategy over the next five years.
As the only China-based
international shipping company listed on a major U.S. Exchange,
Sino-Global has closely monitored the changes and development of
its industry since its listing on Nasdaq in 2008. Due to margin
pressures and overcapacity, Sino-Global found that China's international shipping agency industry
has dropped from its peak in 2008. However, the industry has
now reached an inflection point where the establishment of an
industry network is the only means for independent agencies to
attain sufficient scale.
Sino-Global has been engaged in the shipping agency business for
many years, with a strong business relationship network along with
leadership and visibility in all Chinese ports. These advantages
provide Sino-Global with the ability and foundation to establish a
nationwide entity network that would integrate all facets of the
logistics industry in the country.
Currently, customers of the shipping agency industry are
international ship operators, and revenues generated by the
shipping agency industry are settled in U.S. dollars. Considering
these industry characteristics, given Sino-Global is a NASDAQ
listed company with offices in the United
States, it has the natural advantage of integrating the
industry and establishing the first true nationwide shipping agency
network in China.
Sino-Global plans to establish a nationwide shipping agency
entity network in China over the
next five years and gradually expand it internationally. This
soon-to-be-established shipping agency network will establish
Sino-Global's U.S. headquarters as the global marketing settlement
centers, with the newly-joined international shipping agency
companies as the operational fulcrum.
The controlling owners of newly-joined agencies will join this
network and work together with Sino-Global to build a shipping agency
network, in order to seek common development and achieve a win-win
goal.
About Sino-Global Shipping America, Ltd.
Founded in the United States in
2001, Sino-Global Shipping America, Ltd. is a company engaged in
shipping, chartering, logistics and related business services.
Headquartered in New York,
Sino-Global has offices in Los
Angeles, mainland China,
Australia, Canada and Hong
Kong. Additional information about Sino-Global can be found
on the Company's corporate website at www.sino-global.com.
The Company routinely posts important information on its
website.
Forward Looking Statements
No statement made in this press release should be interpreted as
an offer to purchase any security. Such an offer can only be made
in accordance with the Securities Act of 1933, as amended, and
applicable state securities laws. Any statements contained in this
release that relate to future plans, events or performance are
forward-looking statements that involve risks and uncertainties as
identified in Sino-Global's filings with the Securities and
Exchange Commission. Actual results, events or performance may
differ materially. Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as
the date hereof. Sino-Global undertakes no obligation to publicly
release the results of any revisions to these forward-looking
statements that may be made to reflect the events or circumstances
after the date hereof or to reflect the occurrence of unanticipated
events.
Contact Information
The Equity Group Inc.
Adam Prior
(212)-836-9600 / aprior@equityny.com
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SOURCE Sino-Global Shipping America, Ltd.