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HONG KONG - Addentax Group Corp. (NASDAQ:ATXG), a $12 million market cap company currently trading below its book value according to InvestingPro data, is in discussions with KINGS UNITED HOLDING LIMITED regarding potential strategic cooperation to integrate Web3.0 payment infrastructure and Real-World Asset enablement within Addentax's supply-chain ecosystem, the company announced Tuesday.
The parties are evaluating a proposal that could involve establishing a Hong Kong-licensed trust vehicle and potentially transferring up to 100 million KINGS native tokens, representing approximately 1% allocation at a notional valuation of about $10 million. The news comes as Addentax shows strong momentum, with a notable 61% price return over the past six months.
The potential collaboration could involve consideration including issuance of common shares to the trust entity, according to a company press release.
KINGS, incorporated in the British Virgin Islands, owns ALL IN Fintech Limited, a New York-registered entity with FinCEN MSB Registration. The group develops multi-chain prepaid card systems and global acquiring networks designed to bridge traditional and blockchain-based payment environments.
"We are reviewing opportunities where blockchain infrastructure can tangibly strengthen our supply-chain operations and international payment architecture," said Hong Zhida, Chief Executive Officer of Addentax.
The company stated it is evaluating how blockchain-native payment systems and tokenized settlement technologies could complement its digital transformation objectives and operational scalability.
Addentax provides integrated services including garment manufacturing, logistics services, and property management. The company noted it continues to evaluate strategic alternatives that align with its growth roadmap and innovation priorities. Financial data from InvestingPro shows the company maintains a healthy liquidity position with a current ratio of 6.12, though it faces profitability challenges with negative earnings in the last twelve months. Investors can access 9 additional key insights and detailed financial metrics through InvestingPro's comprehensive analysis platform.
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