SHENZHEN, China - Addentax Group Corp. (NASDAQ:ATXG), a service provider in garment manufacturing, logistics, property management, and subleasing, announced today a strategic collaboration with Dezhong Xinghui Information Technology Co., Ltd., a high-tech enterprise known for digital retail innovation.
The partnership, solidified through a three-year memorandum of understanding (MOU), is aimed at developing an artificial intelligence (AI) logistics system to enhance efficiency and quality across logistics operations.
The AI logistics system is designed to optimize vehicle dispatching, provide real-time inventory monitoring, enable intelligent sorting and delivery, and operate seamlessly, with the goal of significantly reducing labor costs and errors.
Dezhong Xinghui will contribute its expertise in software technology and digital retail solutions through its platform Qilin XianPin, which specializes in digital retail solutions for fresh produce and food industry enterprises. The company invests up to $5 million annually in software technology, including SAAS systems, big data analysis, and AI applications.
On the other hand, Addentax brings its logistics services expertise and extensive network, which covers 11 provinces and 3 municipalities across China, to the partnership. Both companies aim to integrate their resources and experience in developing the AI logistics system.
Mr. Hong Zhida, Chairman and CEO of Addentax, expressed enthusiasm for the partnership, emphasizing the commitment to leveraging combined expertise to drive innovations in the logistics industry. He highlighted the shared vision of transforming traditional logistics practices through technological advancements.
This announcement contains forward-looking statements, which involve risks and uncertainties. The company cautions that actual results may differ materially from those anticipated and encourages investors to consider the risk factors outlined in the company's filings with the SEC.
The information in this article is based on a press release statement from Addentax Group Corp.
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