DALIAN, China, Jan. 18, 2024 /PRNewswire/ -- Ionix Technology Inc (IINX) announced on January 18, 2024, its definitive agreement to absorb Dalian Huagang Logistics Park Co., Ltd. The acquisition, marking a significant expansion in IINX's operational footprint, signifies the company's full control and ownership of Dalian Huagang, a key player in the logistics sector.

IINX's CEO, Li Cheng, disclosed that Dalian Huagang Logistics Park Co., Ltd. and its subsidiary, Dalian Huagang Cross-Border E-Commerce Trade Co., Ltd., represent significant personal investments from Liu Yubao, a principal shareholder in IINX. The 23,000-square-meter park includes 17,000 square meters allocated for cold chain storage, alongside dedicated areas for logistics operations, office space, employee accommodations, and online broadcast facilities. Investments totaling USD 2 million have been directed towards the park's initial construction, with an additional USD 1.65 million earmarked for the installation of specialized refrigeration equipment, setting the stage for a trial run in June 2024. Post-launch, the park's cold storage and online sales channels are anticipated to yield annual revenues of USD 6.85 million and USD 13.7 million, respectively, contributing an estimated USD 7.8 million in net profits annually to the parent company. Liu Yubao holds dual roles as the legal representative and general manager of the company. Li Cheng underscored the significance of this venture as a self-financed and self-developed project by IINX's major shareholder, projecting a positive impact on IINX's overall business growth.

Source: IINX Related Stocks: OTC:IINX