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SHENZHEN, China - MingZhu Logistics Holdings Limited (NASDAQ:YGMZ), a leading logistics and transportation service provider with a current market capitalization of $6.88 million, has secured a significant coal transport contract with Ruoqiang Tengyue Logistics Co., Ltd. According to InvestingPro analysis, the company’s stock is currently trading below its Fair Value, presenting a potential opportunity for investors. The contract, awarded to MingZhu’s subsidiary Shenzhen Yangang Mingzhu Supply Chain Management Co., spans a ten-year period ending March 20, 2030.
Under the terms of the agreement, MingZhu Supply Chain will deploy approximately 300 trucks to facilitate coal transportation services for Ruoqiang Logistics. This partnership comes at a crucial time, as the company faces challenges with revenue declining 49.19% in the last twelve months and maintaining thin gross profit margins of 3.14%. This partnership is expected to reinforce MingZhu’s market position and drive growth, according to Mr. Jinlong Yang, Chairman and CEO of MingZhu Logistics Holdings Limited. For deeper insights into YGMZ’s financial metrics and growth potential, InvestingPro subscribers have access to over 10 additional key indicators and expert analysis.
MingZhu Supply Chain, established in 2018, specializes in integrated logistics solutions aimed at enhancing efficiency and reducing costs within the supply chain. Ruoqiang Logistics is recognized for its robust cash flow management and commitment to operational excellence, providing reliable logistics solutions to the coal transportation industry, notably to power plants and chemical factories.
This contract marks a milestone for MingZhu Logistics, reflecting the company’s dedication to delivering value to stakeholders and its capacity for supporting high-profile clients. MingZhu, headquartered in Shenzhen since 2002, offers comprehensive trucking services across China, leveraging both its own fleet and subcontractors to ensure broad geographic coverage.
The information in this article is based on a press release statement from MingZhu Logistics Holdings Limited. With an overall Financial Health Score rated as WEAK by InvestingPro, investors should carefully consider the company’s fundamentals and market position. As with any business developments, forward-looking statements regarding future expectations and plans are subject to various factors that could cause actual results to differ materially from what is anticipated.
In other recent news, MingZhu Logistics Holdings Limited has been notified by the Nasdaq Stock Market LLC that its ordinary shares are subject to delisting. The notification was received after the company’s securities closed below the minimum bid price of $1 per share for 30 consecutive business days, violating Nasdaq Listing Rule 5550(a)(2). MingZhu is not eligible for the usual 180-day grace period to regain compliance due to a reverse stock split conducted on July 1, 2024, within the past year. The company intends to appeal the delisting decision by February 20, 2025, which will temporarily stay the suspension of its securities, allowing them to remain listed on The Nasdaq Capital Market pending the hearing’s outcome. In response to the delisting notice, MingZhu is exploring all available options to meet Nasdaq’s requirements, including potentially seeking shareholder approval for another reverse stock split. These developments reflect the company’s ongoing efforts to maintain its Nasdaq listing. Investors are advised to consult additional filings by the company with the China Security Regulatory Commission for further details on factors that could affect MingZhu’s operations.
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