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Zhida Hong, CEO of Addentax Group Corp. (NASDAQ:ATXG), recently increased his stake in the company through a series of stock purchases. According to a recent SEC filing, Hong acquired a total of 963 shares of Addentax Group’s common stock on February 4, 2025. The shares were purchased at prices ranging from $0.6474 to $0.68 per share, totaling approximately $626. The stock has since rallied to $1.03, marking a 31.9% gain over the past week. InvestingPro analysis shows the company trading significantly below book value, with 12 additional key insights available to subscribers. Following these transactions, Hong now holds 151,758 shares directly. These transactions reflect Hong’s continued investment in the company, which operates in the services sector, specializing in mailing, reproduction, commercial art, and photography. With a market capitalization of $5.26 million and its next earnings report scheduled for February 13, 2025, the company maintains a strong liquidity position with a current ratio of 11.54.
In other recent news, Addentax Group Corp. has signed a Memorandum of Understanding (MOU) with Shenzhen Yingbin Brand Development Co., Ltd, marking a significant step in nationwide cooperation in China. This strategic collaboration aims to create a comprehensive ecosystem for brand, product, and marketing supply chain services across the country. Addentax plans to leverage its extensive distribution network and expertise in garment manufacturing, logistics, and property management to support the partnership, while Yingbin Brand will contribute its leadership in brand management and marketing strategies.
Both companies’ CEOs, Mr. Hong Zhida of Addentax and Ms. Xu Yan of Yingbin Brand, have expressed optimism about potential growth and the exploration of new markets resulting from the partnership. This MOU signifies a commitment to long-term collaboration, with the goal of strengthening global customer connections and fostering innovation. However, it’s important to remember that forward-looking statements involve risks and uncertainties, and expectations may change over time. These developments are part of an ongoing story, and investors are encouraged to follow the progress of this strategic partnership.
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