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Addentax Group Corp. (NASDAQ:ATXG) CEO Zhida Hong recently purchased a total of 10,900 shares of the company’s common stock. The transactions, dated February 7, 2025, saw Hong acquiring these shares at prices ranging from $0.9197 to $0.9477 per share, totaling approximately $10,304. According to InvestingPro data, the stock has shown remarkable momentum with a 57% gain in the past week, though current analysis suggests the stock is trading above its Fair Value. Following these transactions, Hong’s direct ownership in Addentax Group increased to 212,890 shares. These purchases reflect Hong’s continued investment in the company, which operates in the mailing, reproduction, commercial art, and photography services sector. The company, trading at just 0.25 times book value, is scheduled to report earnings on February 13, 2025. InvestingPro subscribers have access to 13 additional investment tips and comprehensive financial analysis for ATXG.
In other recent news, Addentax Group Corp. has signed a Memorandum of Understanding (MOU) with Shenzhen Yingbin Brand Development Co., Ltd. This strategic nationwide cooperation in China aims to create a comprehensive ecosystem for brand, product, and marketing supply chain services across the country. The collaboration is expected to leverage the strengths of both companies to innovate and explore new opportunities in the branded apparel sector. CEO of Addentax, Mr. Hong Zhida, and CEO of Yingbin Brand, Ms. Xu Yan, have expressed optimism for potential growth and exploration of new markets resulting from the partnership. This strategic move is seen as an important step for Addentax in expanding its service offerings and enhancing its competitive edge in the industry. The partnership is also expected to contribute to Yingbin Brand’s expansion and reach in the market. However, it is important to note that forward-looking statements involve risks and uncertainties.
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