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Zhida Hong, CEO of Addentax Group Corp. (NASDAQ:ATXG), recently acquired 50,000 shares of the company’s common stock. The transactions, executed on February 5, 2025, were completed at prices ranging from $0.7428 to $0.79 per share, amounting to a total investment of approximately $38,378. The purchase comes as the stock shows strong momentum, with a 56% gain in the past week. According to InvestingPro analysis, the stock currently trades at a Price/Book ratio of 0.21.
Following these acquisitions, Hong now directly owns 201,758 shares of Addentax Group. This series of purchases underscores Hong’s continued confidence in the company’s prospects. Addentax Group, which operates in the services sector, specializes in mailing, reproduction, commercial art, and photography services. With a market capitalization of $5.26 million and the next earnings report due on February 13, investors can access additional insights and 13 more ProTips through InvestingPro’s comprehensive analysis platform.
In other recent news, Addentax Group Corp. has signed a Memorandum of Understanding (MOU) with Shenzhen Yingbin Brand Development Co., Ltd. The strategic nationwide collaboration in China aims to create a comprehensive ecosystem for brand, product, and marketing supply chain services across the country. Both Addentax, with its expertise in garment manufacturing, logistics, and property management, and Yingbin Brand, a leader in brand and product supply chain management, plan to utilize their strengths to explore new opportunities in the branded apparel sector.
The CEOs of both companies have expressed optimism about potential growth and the exploration of new markets through this partnership. The MOU represents a commitment to long-term collaboration aimed at strengthening global customer connections and fostering innovation. The partnership is also expected to contribute to Yingbin Brand’s market expansion and reach.
While this strategic move is seen as a significant step for Addentax in enhancing its competitive edge, it’s important to note that future events and financial trends are subject to change. This strategic collaboration between Addentax Group Corp. and Shenzhen Yingbin Brand Development Co., Ltd. is a developing story worth keeping an eye on.
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