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BEIJING - Autozi Internet Technology (Global) Ltd. (NASDAQ:AZI) announced Wednesday it has entered into a strategic cooperation framework agreement with Wanshan International Trading Co. to jointly develop a cross-border supply-chain cloud platform. The micro-cap company, with a market capitalization of just $8.24 million, has seen its stock price plummet to $0.08, representing a 97% decline over the past year.
The partnership aims to combine Autozi's automotive aftermarket parts supply capabilities and special-purpose vehicle portfolio with Wanshan's overseas sales network. The companies have set a target of achieving $1 billion in cumulative overseas sales within three years, according to a press release statement. This ambitious goal comes as InvestingPro data shows Autozi generated $156.47 million in revenue over the last twelve months, with 32.9% revenue growth, suggesting the partnership would need to drive substantial expansion.
Under the agreement, Autozi will provide its portfolio of passenger-vehicle aftermarket parts while Wanshan will contribute global market access, international trade expertise, and operational capabilities across key overseas regions. The companies plan to integrate their digital systems, logistics resources, and market insights.
The collaboration is designed to support Autozi's strategic focus on capitalization, digitalization, and globalization. Beyond facilitating the immediate overseas distribution of aftermarket parts, the platform will also serve as an international channel for Autozi's planned business expansions, including special-purpose vehicles and electric vehicle components.
Autozi, founded in 2010, operates as an automotive service and technology platform in China, offering automotive products and services through online and offline channels. The company utilizes a supply chain cloud platform and SaaS solutions to connect stakeholders across the automotive industry. According to InvestingPro analysis, Autozi faces significant financial challenges with a weak gross profit margin of just 1.6% and is not profitable over the last twelve months, posting a negative EBITDA of $11.42 million.
The companies expect the partnership to expand Autozi's international revenue base and improve margin profiles over time, leveraging Autozi's technology capabilities and Wanshan's established global trade network. This margin improvement would be crucial as InvestingPro identifies that Autozi "suffers from weak gross profit margins" and "short term obligations exceed liquid assets" with a current ratio of 0.46. InvestingPro offers 11 additional insights on AZI, including detailed financial health metrics that could help investors evaluate the potential impact of this strategic partnership.
In other recent news, Autozi Internet Technology has unveiled a new business strategy focused on three core pillars: Capitalization, Digitalization, and Globalization. The company aims to leverage its public listing to acquire and integrate enterprises in the automotive sector, enhance them through its proprietary SaaS-based supply-chain system, and expand their global market presence. In another development, Autozi has reached an agreement with JAK Opportunities XII LLC to terminate investor registration rights and cancel warrants worth up to $24 million. The Waiver and Release Agreement, signed on September 19, involves JAK Opportunities relinquishing its registration rights and waiving claims associated with them. Additionally, Autozi announced changes to its Board of Directors, with Weston Twigg resigning effective August 28, 2025, and Yafu Guo being appointed as an independent director. Twigg also stepped down from his roles as Chairman of the Compensation Committee and member of both the Audit Committee and Nominating and Corporate Governance Committee. These developments reflect Autozi's ongoing strategic adjustments and corporate governance changes.
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