SHENZHEN, China, Dec. 13,
2021 /PRNewswire/ -- MingZhu Logistics Holdings Ltd. (NASDAQ:
YGMZ) (MingZhu or the Company), a leading trucking service
provider, today announced that it intends to expand into the
commercial liquor distribution market given the synergies and
adjacency to its existing business. The Company intends to
cooperate with a China-based
distributor of Baijiu and other spirits to enhance its commercial
liquor distribution business across China, subject to final agreement.
As part of its preliminary strategic plan, the company may
distribute its own series of Premium Chinese Baijiu, along with a
broader portfolio consisting of spirits from other third party
producers, which it currently plans to brand as the Alliance of
Baijiu.
Baijiu, which typically has an alcohol content between 35% to
60%, can range in cost from a few U.S. dollars per bottle for a
commodity brand to a few thousand dollars for the highest grade.
Baijiiu is considered to be China's national drink and is the dominant
spirits sold in the domestic China
market, with the "white liquor" a normal staple at occasions from
family gatherings to business banquets. Baijiu rose to
international fame when Chairman Mao
Zedong served it to President Nixon at their historic 1972
banquet in Beijing.
It is estimated that 11 billion liters of Baijiu were sold in
2019, more than the total of whisky, vodka, gin, rum and tequila
combined, equating to a liter and a quarter each for every man,
woman and child living at that time. (source: The Drinks Business).
Baijiu is also believed to have distinct health benefits. With over
a thousand active bacteria involved in the creation of baijiu,
taking a shot is akin to purchasing expensive supplements from a
health food shop. (source: Baijiublog.com)
Mr. Jinlong Yang, CEO of MingZhu,
said, "We have a positive view of the Chinese spirits market given
its large, established size, growth profile and sustainability. The
industry has never appeared heathier, with incomes increasing and
expenditures on Baijiu and other spirits continuing to grow. By
combing MingZhu's extensive knowledge of the domestic distribution
market, our logistics network and financial resources, with our
alliance's keen understanding of the Chinese spirits market and its
long-term relationships, we think we can capture significant
revenue opportunities and market share. We continue to evaluate
other opportunities that can serve as natural extensions of our
business and be totally additive from both a revenue and
profitability standpoint, as we focus on building value for
shareholders."
About MingZhu Logistics Holdings Limited (NASDAQ:
YGMZ)
Established in 2002 and headquartered in Shenzhen, China, MingZhu Logistics Holdings
Limited is a 4A-rated professional trucking service provider. Based
on the Company's regional logistics terminals in Guangdong Province and Xinjiang Autonomous
Region, MingZhu Logistics Holdings offers tailored solutions to our
clients to deliver their goods through our network density and
broad geographic coverage across the country by a combination of
self-owned fleets tractors and trailers and subcontractors' fleets.
For more information, please visit ir.szygmz.com.
Forward-Looking Statements
The statements in this press release regarding the Company's
future expectations, plans and prospects constitute forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements include statements
regarding plans, goals, objectives, strategies, future events,
expected performance, assumptions and any other statements of fact
that have not occurred. Any statements that contain the words
"may", "will", "want", "should", "believe", "expect", "anticipate",
"estimate", "calculate" or similar statements that are not factual
in nature are to be considered forward-looking statements. Actual
results may differ materially from historical results or from those
expressed in these forward-looking statements as a result of a
variety of factors. These factors include, but are not limited to,
the Company's strategic objectives, the Company's future plans,
market demand and user acceptance of the Company's products or
services, technological advances, economic trends, the growth of
the trucking services market in China, the Company's reputation and brand, the
impact of industry competition and bidding, relevant policies and
regulations, fluctuations in China's macroeconomic conditions, and the
risks and assumptions disclosed in the Company's reports provided
to the CSRC (China Security Regulatory Commission) For these and
other related reasons, we advise investors not to place any
reliance on these forward-looking statements, and we urge investors
to review the Company's relevant SEC filings for additional factors
that may affect the Company's future results of operations. The
Company undertakes no obligation to publicly revise these
forward-looking statements subsequent to the filing of these
documents as a result of changes in particular events or
circumstances.
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SOURCE MingZhu Logistics Holdings Limited