Announcement • May 14
MingZhu Logistics Holdings Ltd Files Form 15 MingZhu Logistics Holdings Ltd. has announced that it has filed a Form 15 with the Securities and Exchange Commission to voluntarily deregister its Common Stock under the Securities Exchange Act of 1934, as amended. The par value of the company's Common Stock was $0.128 per share. Announcement • Dec 04
Mingzhu Logistics Holdings Limited's Mingzhu Technology Limited Launches a Comprehensive AI Upgrade for Its Robot Dog Product Line MingZhu Logistics Holdings Limited announced that its subsidiary, MingZhu Technology Limited, has officially launched a comprehensive AI upgrade for its robot dog product line. The upgrade introduces an advanced intelligent companion tailored for family and educational use, marking revolutionary improvements over the previous version in interactive intelligence, functional diversity, and safety design. Features of the Previous Version: The earlier robot dog model primarily supported basic voice command interactions and included 15 remote control functions. Its fixed voice commands and pre-installed music limited user engagement in interaction and creative expression, and it did not support internet connectivity or multi-user recognition, restricting its potential for deeper engagement. Key Highlights of the Upgraded Version: Advanced AI Dialogue System: The upgraded robot dog supports natural, free-flowing conversations, capable of identifying and distinguishing between multiple family members. It features integrated functions such as phone calling, co-creating stories, and English dialogue, and it can recognize various Chinese dialects. It even supports role-playing script games, offering a richer and more immersive interactive experience. Intelligent Educational and Entertainment Applications: With 21 remote control functions and a content creation system that supports user-driven innovation, the robot dog serves as both an educational and entertainment tool. It offers adjustable volume and an extended battery life of up to 8 hours, ensuring reliable use across various scenarios. Safe and Stable Performance: Addressing common issues found in ordinary AI toys, such as fiber shedding, delayed response, unclear voice recognition, overheating, and lagging, this upgraded version delivers clear audio output, stable system operation, and an enhanced memory function that continuously learns and adapts to user habits and preferences. This upgraded robot dog is now officially available through authorized distribution channels. With its enhanced AI interactivity, versatile functionality, and reliable performance, the product aims to set a new standard in the smart companion robotics industry, offering users a more intelligent, engaging, and seamless experience across home and educational environments. Announcement • Nov 27
MingZhu Logistics Holdings Limited has completed a Composite Units Offering in the amount of $7.168 million. MingZhu Logistics Holdings Limited has completed a Composite Units Offering in the amount of $7.168 million.
Security Name: Units
Security Type: Equity/Derivative Unit
Securities Offered: 1,500,000
Price\Range: $1
Discount Per Security: $0.07
Price\Range: $0.872
Discount Per Security: $0.061
Transaction Features: Registered Direct Offering Reported Earnings • Nov 26
First half 2025 earnings released: US$1.53 loss per share (vs US$38.55 loss in 1H 2024) First half 2025 results: US$1.53 loss per share (improved from US$38.55 loss in 1H 2024). Revenue: US$13.6m (down 40% from 1H 2024). Net loss: US$5.98m (loss narrowed 39% from 1H 2024). New Risk • Sep 10
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (17% average weekly change). Earnings have declined by 80% per year over the past 5 years. Shareholders have been substantially diluted in the past year (over 15x increase in shares outstanding). Minor Risk Market cap is less than US$100m (US$67.4m market cap). Announcement • May 02
MingZhu Logistics Holdings Limited announced delayed 20-F filing On 05/01/2025, MingZhu Logistics Holdings Limited announced that they will be unable to file their next 20-F by the deadline required by the SEC. New Risk • Apr 17
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 18% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (18% average weekly change). Earnings have declined by 77% per year over the past 5 years. Shareholders have been substantially diluted in the past year (64% increase in shares outstanding). Market cap is less than US$10m (US$4.94m market cap). New Risk • Mar 05
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (17% average weekly change). Earnings have declined by 77% per year over the past 5 years. Shareholders have been substantially diluted in the past year (94% increase in shares outstanding). Market cap is less than US$10m (US$4.87m market cap). Announcement • Feb 15
Mingzhu Receives Nasdaq Delisting Notice Subject to Hearing Request MingZhu Logistics Holdings Limited ("MingZhu" or the "Company") announced that on February 13, 2025, it received a letter from the Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that the Nasdaq staff has determined to delist the Company's ordinary shares from The Nasdaq Capital Market (the "Delisting Determination"), because the bid price of the Company's listed securities has closed at less than $1 per share over the previous 30 consecutive business days, and therefore it no longer complies with the Nasdaq Listing Rule 5550(a)(2) (the "Rule"). Normally, a company would be afforded a 180-calendar day period to demonstrate compliance with the Rule. However, pursuant to the Nasdaq Listing Rule 5810(c)(3)(A)(iv), the Company is not eligible for any compliance period specified in Nasdaq Listing Rule 5810(c)(3)(A) due to the fact that the Company effected a reverse stock split on July 1, 2024, or within the prior one-year period. The Company has until February 20, 2025 to request an appeal of the Delisting Determination to the hearing panel. The Company intends to request such hearing to appeal the Delisting Determination before that date, which will stay the suspension of its securities from the date of the request, during which time such securities will continue to be listed on The Nasdaq Capital Market. The Company is considering all potential options available to it to regain compliance with the aforementioned rules, including seeking shareholders' approval for a reverse stock split. Announcement • Feb 08
MingZhu Logistics Holdings Limited Announces Board and Committee Changes The board of directors of MingZhu Logistics Holdings Limited announced Mr. To Wai Suen, independent director of the board of directors,the chairman of the audit committee,a member of the nominating and corporate governance committee and the compensation committee passed away on January 17, 2025. To fill the vacancies on the Board, on January 31, 2025, the Nominating Committee recommended, and the Board appointed, Mr. Jie Zhong to serve as an independent director, the chairman of the Audit Committee, and a member of the Nominating Committee, and the Compensation Committee, effective January 31, 2025. Since December 2013, Mr. Zhong has served as the chief executive officer and the chief financial officer of Shenzhen Boyan Technology Development Co. Ltd., where he is fully responsible for the company's daily operations and management activities. From November 2008 to December 2012, Mr. Zhong was the Vice General Manager at Shenzhen Baina Jiuzhou Technology Ltd., where he improved the standard operating procedures, and managed the overall operations of the company. Mr. Zhong earned a bachelor's degree in finance and economics from Southwestern University of Finance and Economics in June 2008. New Risk • Jan 02
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 77% per year over the past 5 years. Shareholders have been substantially diluted in the past year (94% increase in shares outstanding). Market cap is less than US$10m (US$6.59m market cap). Minor Risk Share price has been volatile over the past 3 months (13% average weekly change). Reported Earnings • Jan 02
First half 2024 earnings released: US$0.30 loss per share (vs US$0.30 loss in 1H 2023) First half 2024 results: US$0.30 loss per share (in line with 1H 2023). Revenue: US$22.9m (down 59% from 1H 2023). Net loss: US$9.80m (loss widened US$8.99m from 1H 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 8 percentage points per year, which is a significant difference in performance. Valuation Update With 7 Day Price Move • Dec 27
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to US$1.05, the stock trades at a trailing P/E ratio of 19.2x. Average trailing P/E is 29x in the Transportation industry in the US. Total loss to shareholders of 94% over the past three years. New Risk • Dec 10
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 94% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 48% per year over the past 5 years. Shareholders have been substantially diluted in the past year (94% increase in shares outstanding). Market cap is less than US$10m (US$7.68m market cap). Minor Risks Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Share price has been volatile over the past 3 months (13% average weekly change). New Risk • Dec 01
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 48% per year over the past 5 years. Market cap is less than US$10m (US$5.17m market cap). Minor Risks Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (39% increase in shares outstanding). Valuation Update With 7 Day Price Move • Oct 21
Investor sentiment improves as stock rises 38% After last week's 38% share price gain to US$1.66, the stock trades at a trailing P/E ratio of 21.7x. Average trailing P/E is 30x in the Transportation industry in the US. Total loss to shareholders of 92% over the past three years. Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 31% After last week's 31% share price gain to US$1.47, the stock trades at a trailing P/E ratio of 19.2x. Average trailing P/E is 30x in the Transportation industry in the US. Total loss to shareholders of 94% over the past three years. Valuation Update With 7 Day Price Move • Aug 23
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to US$1.12, the stock trades at a trailing P/E ratio of 14.7x. Average trailing P/E is 28x in the Transportation industry in the US. Total loss to shareholders of 96% over the past three years. Announcement • Aug 20
MingZhu Logistics Holdings Limited, Annual General Meeting, Oct 16, 2024 MingZhu Logistics Holdings Limited, Annual General Meeting, Oct 16, 2024. Location: in the offices of the companys counsel, becker & poliakoff p.a, at 45 broadway, 17 floor, ny 10006, new york United States Valuation Update With 7 Day Price Move • Aug 06
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to US$1.10, the stock trades at a trailing P/E ratio of 14x. Average trailing P/E is 27x in the Transportation industry in the US. Total loss to shareholders of 97% over the past three years. Announcement • Jul 18
MingZhu Logistics Regains Compliance with Nasdaq Minimum Bid Price Requirement MingZhu Logistics Holdings Limited announced that on July 16, 2024, it received notification from The Nasdaq Stock Market LLC ('Nasdaq') confirming the Company has cured the bid price deficiency, and that the Company has regained compliance with Listing Rule 5550(a)(2). Accordingly, this matter is now closed and the Company's ordinary shares will continue to trade uninterrupted on Nasdaq under the ticker 'YGMZ'. Announcement • May 01
MingZhu Logistics Holdings Limited announced delayed 20-F filing On 04/30/2024, MingZhu Logistics Holdings Limited announced that they will be unable to file their next 20-F by the deadline required by the SEC. Announcement • Apr 19
MingZhu Logistics Holdings Limited announced that it has received $2 million in funding from Goldcrown International (Hk) Limited On April 17, 2024, MingZhu Logistics Holdings Limited, closed the transaction. Reported Earnings • Jan 02
First half 2023 earnings released: US$0.038 loss per share (vs US$0.077 profit in 1H 2022) First half 2023 results: US$0.038 loss per share (down from US$0.077 profit in 1H 2022). Revenue: US$56.1m (down 7.0% from 1H 2022). Net loss: US$805.6k (down 149% from profit in 1H 2022). New Risk • Dec 03
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (18% average weekly change). Earnings have declined by 25% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Shareholders have been diluted in the past year (20% increase in shares outstanding). Market cap is less than US$100m (US$15.1m market cap). New Risk • Oct 14
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 9.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 25% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (9.3% average weekly change). Shareholders have been diluted in the past year (20% increase in shares outstanding). Market cap is less than US$100m (US$12.4m market cap). New Risk • Sep 14
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 20% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 25% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (20% increase in shares outstanding). Market cap is less than US$100m (US$14.0m market cap). Announcement • Sep 13
MingZhu Logistics Holdings Limited (NasdaqCM:YGMZ) completed the acquisition of Guizhou Alliance Liquor Management Co., Ltd. MingZhu Logistics Holdings Limited (NasdaqCM:YGMZ) entered into a memorandum of understanding to acquire Guizhou Alliance Liquor Management Co., Ltd. on February 21, 2023. As of May 26, 2023, MingZhu Logistics Holdings Limited (NasdaqCM:YGMZ) entered into a share purchase agreement to acquire Guizhou Alliance Liquor Management Co., Ltd. for $22.7 million. Under the terms of the SPA, MingZhu shall acquire 100% of Alliance Liquor in exchange for the issuance of 4.56 million ordinary shares of Mingzhu upon closing. The shareholder of Alliance Liquor shall receive additional First Earnout Payment of $8.04 million and Second Earnout Payment of $8.04 million respectively if the net income of Alliance Liquor is no lower than $2 million for the fiscal year 2023 and 2024 respectively. The transaction is subject to the conditions that are customary for transactions of this type. Completion is subject to approval by Alliance Liquor Board, requisite regulatory approvals being obtained, Non-Competition and Non-Solicitation Agreements being entered and third party approvals. Bill Huo of Becker & Poliakoff LLP acted as legal advisor to MingZhu Logistics.
MingZhu Logistics Holdings Limited (NasdaqCM:YGMZ) completed the acquisition of Guizhou Alliance Liquor Management Co., Ltd. on September 12, 2023. Announcement • Aug 22
MingZhu Logistics Holdings Limited, Annual General Meeting, Sep 28, 2023 MingZhu Logistics Holdings Limited, Annual General Meeting, Sep 28, 2023, at 10:00 US Eastern Standard Time. Location: 45 Broadway, 17th Floor Nerw York New York United States Agenda: To elect five directors to the Company's board of directors to hold office until the next annual meeting of stockholders or until their respective successors have been elected and qualified; to ratify the appointment of Audit Alliance LLP as the Company's independent registered public accounting firm for the fiscal year ending December31, 2023; and to approve the adjournment of the Annual Meeting to a later date or dates, if necessary, to permit further solicitation and vote of proxies if, based upon the tabulated vote at the time of the Annual Meeting, there are not sufficient votes to approve any of the foregoing proposals. Announcement • Jul 25
MingZhu Logistics Receives Nasdaq Notification Regarding Minimum Bid Requirements MingZhu Logistics Holdings Limited ("MingZhu" or the "Company") announced that on July 24, 2023, it received a letter from The Nasdaq Stock Market LLC ("Nasdaq"), notifying the Company that it is currently not in compliance with the minimum bid price requirement set under Nasdaq Listing Rule 5550(a)(2). It resulted from the fact that the closing bid price of the Company's ordinary shares was below $1.00 per share for a period of 30 consecutive business days. This press release is issued pursuant to Nasdaq Listing Rule 5810(b), which requires prompt disclosure of receipt of a deficiency notification. The notification has no immediate effect on the listing of the Company's ordinary shares, which will continue to trade uninterrupted on Nasdaq under the ticker "YGMZ". Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Company has a compliance period of 180 calendar days, or until January 22, 2024 (the "Compliance Period"), to regain compliance with Nasdaq's minimum bid price requirement. If at any time during the Compliance Period, the closing bid price per share of the Company's ordinary shares is at least $1.00 for a minimum of 10 consecutive business days, Nasdaq will provide the Company a written confirmation of compliance and the matter will be closed. In the event the Company does not regain compliance with the minimum bid price requirement within 180 calendar days, the Company may be eligible for additional time. In the event the Company does not regain compliance with the minimum bid price requirement by January 22, 2024, the Company may be eligible for an additional 180 calendar day grace period. Reported Earnings • May 18
Full year 2022 earnings released: EPS: US$0.088 (vs US$0.049 loss in FY 2021) Full year 2022 results: EPS: US$0.088 (up from US$0.049 loss in FY 2021). Revenue: US$114.1m (up US$96.7m from FY 2021). Net income: US$1.90m (up US$2.83m from FY 2021). Profit margin: 1.7% (up from net loss in FY 2021). The move to profitability was driven by higher revenue. Valuation Update With 7 Day Price Move • May 10
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to US$1.19, the stock trades at a trailing P/E ratio of 25.7x. Average trailing P/E is 14x in the Transportation industry in the US. Total loss to shareholders of 24% over the past year. Valuation Update With 7 Day Price Move • Apr 24
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to US$1.01, the stock trades at a trailing P/E ratio of 21.8x. Average trailing P/E is 14x in the Transportation industry in the US. Total loss to shareholders of 41% over the past year. Valuation Update With 7 Day Price Move • Mar 14
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to US$1.09, the stock trades at a trailing P/E ratio of 23.6x. Average trailing P/E is 14x in the Transportation industry in the US. Total loss to shareholders of 32% over the past year. Valuation Update With 7 Day Price Move • Feb 10
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to US$1.35, the stock trades at a trailing P/E ratio of 29.2x. Average trailing P/E is 14x in the Transportation industry in the US. Total loss to shareholders of 24% over the past year. Valuation Update With 7 Day Price Move • Jan 26
Investor sentiment improves as stock rises 48% After last week's 48% share price gain to US$1.61, the stock trades at a trailing P/E ratio of 34.8x. Average trailing P/E is 11x in the Transportation industry in the US. Total returns to shareholders of 16% over the past year. Valuation Update With 7 Day Price Move • Jan 06
Investor sentiment improved over the past week After last week's 24% share price gain to US$1.04, the stock trades at a trailing P/E ratio of 22.5x. Average trailing P/E is 10x in the Transportation industry in the US. Total loss to shareholders of 37% over the past year. Reported Earnings • Dec 29
First half 2022 earnings released: EPS: US$0.077 (vs US$0.025 loss in 1H 2021) First half 2022 results: EPS: US$0.077 (up from US$0.025 loss in 1H 2021). Revenue: US$60.3m (up US$50.7m from 1H 2021). Net income: US$1.65m (up US$2.00m from 1H 2021). Profit margin: 2.7% (up from net loss in 1H 2021). The move to profitability was driven by higher revenue. Announcement • Dec 22
MingZhu Logistics Holdings Limited (NasdaqCM:YGMZ) entered into a Share Purchase Agreement to acquire Feipeng Global Limited for $15 million. MingZhu Logistics Holdings Limited (NasdaqCM:YGMZ) entered into a Share Purchase Agreement to acquire Feipeng Global Limited for $15 million on December 21, 2022. Under terms of the SPA, MingZhu acquired 100% of Feipeng for approximately $15 million, of which $10 million will be paid in cash upon closing in form of cash. Feipeng shall receive a certain number of shares valued at approximately US$5 million if it achieves a targeted net income of US$2.4 million during the calendar year 2023. The transaction is subject to the conditions that are customary for transactions of this type. The deal value is expected to be immediately accretive to MingZhu's revenue, gross margin and net income. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Mikael Charette was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Aug 17
Mingzhu Logistics Holdings Limited Announces Executive Changes On July 28, 2022, Yanhong Xue resigned as a director of Mingzhu Logistic holdings Limited (the "Company"). Ms. Xue's resignation was for personal reasons and was not due to any disagreement with the Company. On August 2, 2022, the board of directors of the Company (the "Board") appointed Yuzhou Wang to serve as a member of the Board and a member of each of the three independent committees of the Board (i.e., the audit committee, compensation committee and nominating and corporate governance committee), effective immediately. On the same day, To Wai Suen was pointed as the Chair of the audit committee of the Board.Mr. Wang, age 42, has over 19 years' experience in finance and accounting. From September 2020 to current, Mr. Wang has served as the VP of the international financial department of Nanjing Xinjiekou Department Store Co.,Ltd., d/b/a Cenbest, or Nanjing Cenbest Co. Ltd. (600682). From January 2019 to August 2020, Mr. Wang served as the CEO of Shanghai Yisheng Financial Consulting Ltd. From July 2014 to December 2018, Mr. Wang served as the VP of financial department of Nanjing Sanpower Group. From November 2010 to August 2014, Mr. Wang served as the VP of financial department of Zhengxing Wheel Group Co. Ltd. From September 2005 toOctober 2010, Mr. Wang served as an audit manager of Shanghai Deloitte Huayong Certified Public Accountants Co. Ltd. Board Change • Aug 06
Less than half of directors are independent Following Director Yuzhou Wang's arrival on 01 August 2022, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Mikael Charette was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Aug 03
Mingzhu Logistics Holdings Limited Announces Board and Committee Changes MingZhu Logistics Holdings Limited announced that on June 28, 2022, Yanhong Xue resigned as a director. Ms. Xue’s resignation was for personal reasons and was not due to any disagreement with the Company. On August 2, 2022, the board of directors of the Company appointed Yuzhou Wang to serve as a member of the Board and a member of each of the three independent committees of the Board (i.e., the audit committee, compensation committee and nominating and corporate governance committee), effective immediately. On the same day, To Wai Suen was pointed as the Chair of the audit committee of the Board. The Board has determined that Mr. Suen qualifies as an “audit committee financial expert,” as defined under rules and regulations of the U.S. Securities and Exchange Commission. Mr. Wang, age 42, has over 19 years’ experience in finance and accounting. From September 2020 to current, Mr. Wang has served as the VP of the international financial department of Nanjing Xinjiekou Department Store Co. Ltd., d/b/a Cenbest, or Nanjing Cenbest Co. Ltd. (600682). From January 2019 to August 2020, Mr. Wang served as the CEO of Shanghai Yisheng Financial Consulting Ltd. From July 2014 to December 2018, Mr. Wang served as the VP of financial department of Nanjing Sanpower Group. From November 2010 to August 2014, Mr. Wang served as the VP of financial department of Zhengxing Wheel Group Co. Ltd. From September 2005 to October 2010, Mr. Wang served as an audit manager of Shanghai Deloitte Huayong Certified Public Accountants Co. Ltd. Announcement • Jul 13
MingZhu Logistics Holdings Limited, Annual General Meeting, Aug 15, 2022 MingZhu Logistics Holdings Limited, Annual General Meeting, Aug 15, 2022, at 10:00 US Eastern Standard Time. Agenda: To elect five (5) directors to the Company's board of directors to hold office until the next annual meeting of stockholders or until their respective successors have been elected and qualified; to ratify the appointment of Audit Alliance LLP as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2022; and to approve the adjournment of the Annual Meeting to a later date or dates, if necessary, to permit further solicitation and vote of proxies if, based upon the tabulated vote at the time of the Annual Meeting, there are not sufficient votes to approve any of the foregoing proposals. Reported Earnings • Dec 29
First half 2021 earnings: Revenues and EPS in line with analyst expectations First half 2021 results: US$0.025 loss per share (down from US$0.012 profit in 1H 2020). Revenue: US$9.60m (up 8.2% from 1H 2020). Net loss: US$355.7k (down 433% from profit in 1H 2020). Revenue was in line with analyst estimates. Valuation Update With 7 Day Price Move • Dec 05
Investor sentiment deteriorated over the past week After last week's 28% share price decline to US$1.65, the stock trades at a trailing P/E ratio of 33.6x. Average trailing P/E is 17x in the Transportation industry in the US. Total loss to shareholders of 59% over the past year. Valuation Update With 7 Day Price Move • Nov 20
Investor sentiment deteriorated over the past week After last week's 15% share price decline to US$2.51, the stock trades at a trailing P/E ratio of 51.2x. Average trailing P/E is 19x in the Transportation industry in the US. Total loss to shareholders of 34% over the past year. Valuation Update With 7 Day Price Move • Aug 17
Investor sentiment deteriorated over the past week After last week's 16% share price decline to US$3.29, the stock trades at a trailing P/E ratio of 40.5x. Average trailing P/E is 16x in the Transportation industry in the US. Announcement • Jun 30
Mingzhu Logistics Regains Compliance with NASDAQ MingZhu Logistics Holdings Limited announced that on June 29, 2021, it received notification from The Nasdaq Stock Market LLC ("NASDAQ") confirming the Company has regained compliance with the periodic filing requirement for NASDAQ under Listing Rule 5250(c)(1). NASDAQ noted this matter is now closed. Announcement • May 21
MingZhu Logistics Receives Notification of Deficiency from Nasdaq Related to Delayed Filing of Annual Report on Form 20-F MingZhu Logistics Holdings Limited announced that it has received a notice of non-compliance from Nasdaq stating that, as a result of not having timely filed its annual report on Form 20-F for the year ended December 31, 2020, MingZhu is not in compliance with Nasdaq Listing Rule 5250(c)(1), which requires timely filing of periodic financial reports with the Securities and Exchange Commission. This notice has no immediate effect on the listing or trading of Mingzhu's shares on the Nasdaq. Under Nasdaq's listing rules, the Company has 60 calendar days from the date of the notice to submit a plan to regain compliance. If the plan is accepted by Nasdaq, the Company can be granted up to 180 calendar days from the Form 20-F's due date, or until November 15, 2021, to regain compliance. MingZhu expects to file its Form 20-F or submit a plan to regain compliance within the timeline prescribed by Nasdaq. In the Company's May 17, 2021 press release, it noted that, "In light of the change in its auditor, the Company will not be filing its Form 20-F by its require filing date of May 17, 2021. The Company expects to complete preparation of its financial statements and review them with the new auditors shortly and will complete its Form 20-F filing as soon as is practical". Announcement • May 04
MingZhu Logistics Holdings Limited announced delayed 20-F filing On 05/03/2021, MingZhu Logistics Holdings Limited announced that they will be unable to file their next 20-F by the deadline required by the SEC. Valuation Update With 7 Day Price Move • Apr 21
Investor sentiment deteriorated over the past week After last week's 16% share price decline to US$4.01, the stock trades at a trailing P/E ratio of 25.9x. Average trailing P/E is 29x in the Transportation industry in the US. Valuation Update With 7 Day Price Move • Mar 26
Investor sentiment deteriorated over the past week After last week's 16% share price decline to US$4.95, the stock trades at a trailing P/E ratio of 32x. Average trailing P/E is 28x in the Transportation industry in the US. Valuation Update With 7 Day Price Move • Mar 12
Investor sentiment deteriorated over the past week After last week's 31% share price decline to US$5.80, the stock is trading at a trailing P/E ratio of 37.5x, down from the previous P/E ratio of 54.5x. This compares to an average P/E of 29x in the Transportation industry in the US. Announcement • Mar 04
MingZhu Logistics Holdings Limited Announces Significant New Strategic Cooperation with Guangdong Huawei Modern Logistics Co., Ltd MingZhu Logistics Holdings Limited announced a significant new strategic cooperation with Guangdong Huawei Modern Logistics Co. Ltd. The cooperation agreement will leverage MingZhu's trucking fleets and logistics expertise to provide a crucial, integrated link to and from Huawei Logistics' CHINARAILWAYExpress operation. Huawei Logistics, located in Guangdong Province, is a private enterprise that provides China-Europe railway freight services. In 2020, CRexpress launched 12,400 lines, and transported 1,135,000 twenty-foot equivalent unit containers nationwide, representing year-on-year growth of 50% and 56%, respectively. Announcement • Mar 03
MingZhu Logistics Holdings Limited Announces Major Cooperation Agreement with China Merchants Logistics Group Urumqi Limited MingZhu Logistics Holdings Limited announced a major cooperation agreement with China Merchants Logistics Group Urumqi Limited. The cooperation agreement is designed to provide an exclusive, crucial link between the first and last mile between slack coal mines and essential railroads. Under the cooperation agreement, MingZhu will be responsible for the logistics and timely container transport of slack coal linking mines with essential railroad transportation. The companies expect the higher efficiency, lower cost intermodal transport services model will set a new standard for future transport. The cooperation agreement will initially focus on serving Xinjiang's fast growing slack coal market, with total market volume expected to grow from 72.3 million tons in 2018 to 87.7 million tons by the end of 2021 (Source: Frost & Sullivan Analysis). Xinjiang occupies a preeminent position as one of the core transportation hubs of the One Belt One Road and serves as a strategic gateway. Valuation Update With 7 Day Price Move • Feb 23
Investor sentiment deteriorated over the past week After last week's 17% share price decline to US$9.90, the stock is trading at a trailing P/E ratio of 63.9x, down from the previous P/E ratio of 76.7x. This compares to an average P/E of 27x in the Transportation industry in the US. Valuation Update With 7 Day Price Move • Feb 04
Investor sentiment deteriorated over the past week After last week's 56% share price decline to US$12.10, the stock is trading at a trailing P/E ratio of 78.1x, down from the previous P/E ratio of 179.5x. This compares to an average P/E of 28x in the Transportation industry in the US. Is New 90 Day High Low • Jan 26
New 90-day high: US$26.78 The company is up 596% from its price of US$3.85 on 27 October 2020. The American market is up 17% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Transportation industry, which is up 25% over the same period. Valuation Update With 7 Day Price Move • Jan 19
Investor sentiment improved over the past week After last week's 17% share price gain to US$12.04, the stock is trading at a trailing P/E ratio of 77.8x, up from the previous P/E ratio of 66.3x. This compares to an average P/E of 29x in the Transportation industry in the US. Valuation Update With 7 Day Price Move • Dec 19
Investor sentiment improved over the past week After last week's 171% share price gain to US$11.24, the stock is trading at a trailing P/E ratio of 63.3x, up from the previous P/E ratio of 23.4x. This compares to an average P/E of 26x in the Transportation industry in the US.