SHENZHEN, China, July 6, 2023
/PRNewswire/ -- Addentax Group Corp. ("Addentax" or the "Company")
(Nasdaq: ATXG), an integrated service provider focusing on garment
manufacturing, logistics service, property management, and
subleasing, has announced a significant strategic collaboration
with GW Reader Sdn Bhd ("GW Reader"), a global pan-entertainment
platform with a focus on online text publishing, web novel
translations, and an online writing platform. This partnership
marks a major milestone for both companies as they join forces to
enhance their respective offerings and drive innovation within the
global content industry.
On June 30, 2023, Addentax has
formed a cooperation leading certain Games-as-a-Service ("GaaS")
firms to launch a project focusing on the development of Artificial
Intelligence ("AI") Online Operational Tools (the "AI project"), GW
Reader's AI technology and expertise come into play. GW Reader aim
to unlock new opportunities and enhance the capabilities of the AI
project through the utilization of its AI algorithms.
While GW Reader's core expertise lies in the online content
industry, their AI algorithms have the potential to transform
various aspects of Addentax's operations. By utilizing GW Reader's
AI algorithms, Addentax can streamline its garment manufacturing
processes. These algorithms can optimize production planning,
improve quality control, and automate certain aspects of the
manufacturing workflow. This will result in increased operational
efficiency, reduced production costs, and improved overall
output.
GW Reader's AI algorithms can also be leveraged to optimize
Addentax's logistics services. These algorithms can enhance demand
forecasting, route optimization, and inventory management, leading
to faster order processing, improved supply chain efficiency, and
reduced transportation costs.
Simultaneously, the integration of GW Reader's AI algorithms can
bring efficiency to Addentax's property management and subleasing
operations. By automating tasks such as tenant screening, lease
agreement management, and maintenance scheduling, the algorithms
can streamline operations, improve tenant experiences, and optimize
occupancy rates.
"We are excited to collaborate with GW Reader and harness
their AI technology to transform our operations," stated Mr.
Hong Zhida, Chairman and CEO of Addentax. "By leveraging the power
of AI, we anticipate significant advancements in operational
efficiency, enabling us to better serve our clients and maintain
our leadership position in the industry."
The collaboration between Addentax and GW Reader highlights the
shared commitment of both companies to harness the potential of
technology and drive growth in their respective industries. With
the integration of GW Reader's AI technology, Addentax is
positioned to achieve operational optimization, creating enduring
value for its stakeholders.
About Addentax Group Corp. (NASDAQ: ATXG)
Addentax is an integrated service provider specializing in
garment manufacturing, logistics services, property management, and
subleasing. Its apparel manufacturing business includes sales to
wholesalers and is based in China.
The logistics business, which includes delivery and express
services, covers 79 cities in 7 provinces and 2 municipalities in
China. The property management and
subleasing business provides relevant services to clothing
wholesalers and retailers in the apparel market. The epidemic
prevention supplies business includes manufacturing and
distributing quarantine products, as well as reselling supplies
purchased from the third parties in domestic and overseas markets.
More information please visit the website:
https://www.addentax.com/.
Safe Harbor Statement
All statements other than statements of historical fact in
this announcement are forward-looking statements in nature within
the meaning of the Private Securities Litigation Reform Act of
1995. These forward-looking statements involve known and unknown
risks and uncertainties and are based on current expectations and
projections about future events and financial trends that the
Company believes may affect its financial condition, results of
operations, business strategy and financial needs. Words or phrases
such as "may," "will," "expect," "anticipate," "aim," "estimate,"
"intend," "plan," "believe," "potential," "continue," "is/are
likely to" or other similar expressions are intended to identify
such forward-looking statements. The Company undertakes no
obligation to update forward-looking statements to reflect
subsequent occurring events or circumstances, or changes in its
expectations, except as may be required by law. Although the
Company believes that the expectations expressed in these
forward-looking statements are reasonable, it cannot assure you
that such expectations will turn out to be correct, and the Company
cautions investors that actual results may differ materially from
the anticipated results and encourages investors to consider risk
factors, including those described in the Company's filings with
the SEC, that may affect the Company's future results. All
forward-looking statements attributable to the Company and its
subsidiaries or persons acting on their behalf are expressly
qualified in their entirety by these risk factors. The
forward-looking events discussed in this press release and other
statements made from time to time by us or our representatives, may
not occur, and actual events and results may differ materially and
are subject to risks, uncertainties, and assumptions about us. We
are not obligated to publicly update or revise any forward-looking
statement, whether as a result of uncertainties and assumptions,
the forward-looking events discussed in this press release and
other statements made from time to time by us or our
representatives might not occur.
Company Contact:
Public Relations Contact:
Addentax Group Corp. Corp.
Phone: + (86) 755 86961 405
cyseah@zgyingxi.com
Investor Relations Contact:
Sherry Zheng
Weitian Group LLC
1-718-213-7386
shunyu.zheng@weitian-ir.com
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SOURCE Addentax Group Corp.