iHub News
3月前
Addentax exploring acquisition of Asia-Pacific digital lending platformsMarch 17, 2026 11:20 AM
IH Market News
Addentax Group Corp. (NASDAQ:ATXG) said it has begun negotiations to acquire several online money lending platforms operating across the Asia-Pacific region.The company said any definitive agreements will depend on the outcome of negotiations, completion of due diligence, regulatory approvals and other customary conditions. It added that there is no guarantee the discussions will lead to signed agreements or completed transactions.According to the company’s statement, the targeted platforms operate digital lending businesses that include AI-supported credit assessment tools, personal digital lending and, where regulations allow, financial services linked to digital assets. Based on information provided by the potential targets, the combined platforms serve more than 600,000 customers and generate an estimated annual loan origination volume exceeding HK$25 billion.“We are pleased to announce this strategic acquisition initiative, which we believe has the potential to significantly expand Addentax’s participation in the Asia Pacific fintech sector,” said Chief Executive Officer Hong Zhida.The move comes as the company faces financial pressure. With a market capitalization of about $3.08 million and its share price down roughly 71% over the past year, data from InvestingPro indicates the company is rapidly using cash while reporting a gross profit margin of just 9.85%. The stock currently trades at a price-to-book ratio of 0.15, though the company’s balance sheet shows more cash than debt.Any potential transactions would remain subject to typical closing requirements, including final due diligence, board approvals and regulatory clearance from financial authorities in the jurisdictions where the target companies operate.Addentax Group Corp. currently operates as an integrated service provider focused on garment manufacturing and logistics. The company said it will provide further updates as negotiations progress.In related developments, Addentax recently signed memorandums of understanding with two institutional investors regarding a potential $200 million investment intended to support expansion into artificial intelligence and cryptocurrency-related financial services. Each investor, reportedly supported by a Middle Eastern royal family, could invest up to $100 million by purchasing newly issued shares at $1.50 per share.The company also disclosed plans to acquire the offshore wealth management and cross-border services business of Hong Kong-based Riches Group. The acquisition is expected to align with Addentax’s international expansion strategy and could contribute roughly HKD 300 million in annualized revenue.Separately, Addentax adopted ?????? as its official Chinese-language business name while retaining Addentax Group Corp. as its legal corporate name. The company said these steps reflect ongoing efforts to strengthen operations and broaden its presence in new markets.Addentax Group stock price
Original: Addentax exploring acquisition of Asia-Pacific digital lending platforms
US Market News
3月前
Addentax Group Corp. Announces Strategic Fintech Initiative and Negotiations to Acquire Up to 20 Online Lending Platforms in Asia Pacific Representing Over 600,000 Customers and Estimated Annual Loan Volume Exceeding HK$25 BillionMarch 17, 2026 9:25 AM
PR Newswire (US)
SHENZHEN, China, March 17, 2026 /PRNewswire/ -- Addentax Group Corp. (Nasdaq: ATXG) ("ATXG" or the "Company") announced today that it has entered into mature negotiations to acquire multiple leading online money lending platforms across the Asia Pacific region, with definitive agreements expected to be executed subject to the completion of ongoing negotiations, due diligence, regulatory approvals and other customary conditions.These platforms operate digital lending businesses across the Asia Pacific region and provide services that include AI-supported credit assessment, digital asset-related financial services (where permitted by applicable regulations), and personal digital lending. These platforms are characterized by established user bases, proprietary risk control systems, operational efficiency and regional market presence. Upon completion of the proposed acquisitions, the combined platforms could create a large-scale digital credit platform with significant regional reach. Based on information provided by the target companies, the combined platforms currently serve more than 600,000 customers and generate an estimated aggregate annual loan origination volume exceeding HK$25 billion."We are pleased to announce this strategic acquisition initiative, which we believe has the potential to significantly expand Addentax's participation in the Asia Pacific fintech sector," said the Chief Executive Officer of Addentax, Mr. Hong Zhida. "These platforms represent innovative participants in AI-driven digital lending and emerging financial technologies. By potentially bringing them together under the ATXG umbrella, we aim to build a technology-driven digital credit platform with meaningful scale, technological capabilities and regional market reach. We believe this initiative could support long-term value creation for our stockholders, partners and customers across the Asia Pacific."The transactions are subject to customary closing conditions, including final due diligence, board approvals, approvals from relevant financial regulatory authorities in the jurisdictions in which the target companies operate and other customary conditions. There can be no assurance that definitive agreements will be executed or that any transactions will be completed. The Company will provide updates as appropriate as negotiations progress.About Addentax Group Corp.Addentax Group Corp. is an integrated service provider specializing in garment manufacturing and logistics services. For more information about the Company, please visit the website: https://www.addentax.com/ Caution Concerning Forward Looking StatementsAll statements other than statements of historical fact in this announcement are forward-looking statements in nature within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions are intended to identify such forward-looking statements. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to consider risk factors, including those described in the Company's filings with the SEC, that may affect the Company's future results. All forward-looking statements attributable to the Company and its subsidiaries or persons acting on their behalf are expressly qualified in their entirety by these risk factors. The forward-looking events discussed in this press release and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties, and assumptions about us. These forward-looking statements are based on information currently available to the Company and its current plans or expectations and are subject to a number of known and unknown uncertainties, risks and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These and other important factors are described in detail in the "Risk Factors" section of the Company's Annual Report on Form 10-K for the year ended March 31, 2025. Although we believe the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. We are not obligated to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions, the forward-looking events discussed in this press release and other statements made from time to time by us or our representatives might not occur.Company Contact:Public Relations Contact:
Addentax Group Corp.
Phone: + (86) 755 86961 405
yoongxin.chan@zgyingxi.com Investor Relations Contact:Sherry Zheng
WAVECREST GROUP INC.
1-718-213-7386
sherry@wavecrestipo.com
View original content:https://www.prnewswire.com/news-releases/addentax-group-corp-announces-strategic-fintech-initiative-and-negotiations-to-acquire-up-to-20-online-lending-platforms-in-asia-pacific-representing-over-600-000-customers-and-estimated-annual-loan-volume-exceeding-hk25-billion-302715176.htmlSOURCE Addentax Group Corp.
Original: Addentax Group Corp. Announces Strategic Fintech Initiative and Negotiations to Acquire Up to 20 Online Lending Platforms in Asia Pacific Representing Over 600,000 Customers and Estimated Annual Loan Volume Exceeding HK$25 Billion
US Market News
4月前
Addentax Group Corp. Advances Sovereign-Aligned Stablecoin Initiative in Southeast Asia with Strategic Bitcoin Investor, Within Plan to Pursue up to 12,000 Bitcoins AcquistionFebruary 12, 2026 9:25 AM
PR Newswire (US)
SHENZHEN, China, Feb. 12, 2026 /PRNewswire/ -- Addentax Group Corp. (Nasdaq: ATXG) (the "Company", "ATXG", "we", "us" or "our") today announced that it is engaged in advanced discussions with a strategic Bitcoin investor (the "Investor"), a significant global holder of Bitcoin, to explore a potential collaboration for the development of a sovereign-aligned, regulatory-compliant stablecoin initiative in Southeast Asia. These discussions are part of a broader strategic framework supported by the Company's previously disclosed plan to pursue a strategic investment of up to 12,000 Bitcoins, as announced in July 2025.The Company believes that, if successfully executed, the proposed initiative could contribute to the development of regulated digital finance infrastructure across the Association of Southeast Asian Nations (ASEAN). As currently envisioned, the potential stablecoin issuance framework would be designed to support cross-border payments, selected decentralized finance (DeFi) applications, and institutional-grade blockchain use cases, subject to applicable regulatory frameworks.As part of the ongoing discussions, Addentax and the Investor are engaging with relevant governmental and regulatory stakeholders, including central banks and financial regulators in two Southeast Asian jurisdictions, to explore a regulatory framework that may support the issuance of a sovereign-aligned stablecoin. No definitive agreements have been executed, and there can be no assurance that these discussions will result in any transaction or regulatory authorization.The proposed digital asset, if developed, is expected to be structured as a fully reserve-backed and independently audited stablecoin, referencing a diversified basket of fiat currencies and other assets. The contemplated technology architecture would integrate Addentax's AI-enabled compliance, transaction monitoring, and risk management capabilities with the Investor's digital asset infrastructure and liquidity networks, subject to further design, regulatory review, and implementation."This initiative, if completed, could represent an important step in our long-term strategy to participate in regulated digital financial services," said the Chief Executive Officer of Addentax. "We believe that constructive engagement with regulators, combined with disciplined technological development and risk management, is essential to building sustainable digital finance platforms."A representative of the strategic Bitcoin investor stated, "We are pleased to explore this potential collaboration with Addentax. Our discussions are focused on understanding how regulated digital asset infrastructure may evolve in Southeast Asia and how industry participants can support financial innovation in a compliant and responsible manner."Subject to regulatory developments, commercial considerations, and the execution of definitive agreements, the parties may evaluate a phased approach to implementation beginning in the second half of 2026. Such an approach could include the potential development of regional research and innovation initiatives in Southeast Asia, including in jurisdictions such as Singapore and Indonesia, to support ongoing research, infrastructure development, and the advancement of institutional-grade DeFi platforms, custody solutions, and AI-driven financial applications, subject to applicable regulatory approvals.This announcement reflects the Company's current discussions and strategic considerations only. No assurance can be given that any definitive agreements will be executed or that any proposed initiatives will be completed as currently contemplated.About Addentax Group Corp.Addentax Group Corp. is an integrated service provider specializing in garment manufacturing and logistics services. For more information about the Company, please visit the website: https://www.addentax.com/.Caution Concerning Forward Looking StatementsAll statements other than statements of historical fact in this announcement are forward-looking statements in nature within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions are intended to identify such forward-looking statements. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to consider risk factors, including those described in the Company's filings with the SEC, that may affect the Company's future results. All forward-looking statements attributable to the Company and its subsidiaries or persons acting on their behalf are expressly qualified in their entirety by these risk factors. The forward-looking events discussed in this press release and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties, and assumptions about us. These forward-looking statements are based on information currently available to the Company and its current plans or expectations and are subject to a number of known and unknown uncertainties, risks and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These and other important factors are described in detail in the "Risk Factors" section of the Company's Annual Report on Form 10-K for the year ended March 31, 2025. Although we believe the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. We are not obligated to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions, the forward-looking events discussed in this press release and other statements made from time to time by us or our representatives might not occur.Company Contact:Public Relations Contact:Addentax Group Corp.
Phone: + (86) 755 86961 405
yoongxin.chan@zgyingxi.comInvestor Relations Contact:Sherry Zheng
WAVECREST GROUP INC.
1-718-213-7386
sherry@wavecrestipo.com
View original content:https://www.prnewswire.com/news-releases/addentax-group-corp-advances-sovereign-aligned-stablecoin-initiative-in-southeast-asia-with-strategic-bitcoin-investor-within-plan-to-pursue-up-to-12-000-bitcoins-acquistion-302686466.htmlSOURCE Addentax Group Corp.
Original: Addentax Group Corp. Advances Sovereign-Aligned Stablecoin Initiative in Southeast Asia with Strategic Bitcoin Investor, Within Plan to Pursue up to 12,000 Bitcoins Acquistion
US Market News
4月前
Addentax Group Corp. Announces Proposed Acquisition of Leading Asian AI-Enabled Hong Kong-based Licensed Digital Lending Platform, with Over HK$2 Billion Annual Loan VolumeFebruary 11, 2026 9:25 AM
PR Newswire (US)
SHENZHEN, China, Feb. 11, 2026 /PRNewswire/ -- Addentax Group Corp. (Nasdaq: ATXG) ("ATXG" or the "Company") announced today that it has entered into late-stage negotiations regarding a proposed acquisition of a Hong Kong–based online credit services provider operating under a licensed money lending framework. The Company believes that, if completed, the transaction would expand ATXG's presence in the Asia-Pacific digital finance sector by integrating regulated lending operations, AI-driven credit technologies, and digital asset–related innovation initiatives.Founded in 2016, the Hong Kong–based licensed digital lending platform operates under Hong Kong's Money Lenders Ordinance (Cap. 163). According to information provided by the Hong Kong–based licensed digital lending platform, it serves over 30,000 customers annually, with historical loan approvals exceeding HK$2 billion. The Hong Kong–based licensed digital lending platform's operations include consumer and small-and-medium-sized enterprises financing solutions delivered through technology-enabled channels. Subject to completion of the proposed acquisition, ATXG would gain access to Hong Kong–based licensed digital lending platform, local operational expertise, and digital origination capabilities.The Hong Kong–based licensed digital lending platform has developed a continuously operating loan application platform incorporating algorithm-based credit assessment tools designed to support risk evaluation, automated processing, and service efficiency. The integration of these systems, if completed, could strengthen ATXG's broader financial technology capabilities, including data-driven risk modeling, customer segmentation, and scalable digital service delivery.Additionally, the Hong Kong–based licensed digital lending platform has explored the potential role of digital assets within lending-related risk management. Based on information made available to ATXG, these initiatives include internal risk control approaches developed with reference to Hong Kong's evolving regulatory environment. Subject to completion of the acquisition and applicable regulatory considerations, such capabilities may support the development of compliant digital asset–related financial applications.The proposed acquisition aligns with ATXG's objective of expanding its participation in technology-enabled financial services markets. If completed, ATXG intends to leverage the Hong Kong–based licensed digital lending platform's licensing framework, infrastructure, and local market knowledge to enhance its operational footprint in Hong Kong and explore broader regional opportunities.About Addentax Group Corp.Addentax Group Corp. is an integrated service provider specializing in garment manufacturing and logistics services. For more information about the Company, please visit the website: https://www.addentax.com/. Caution Concerning Forward Looking StatementsAll statements other than statements of historical fact in this announcement are forward-looking statements in nature within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions are intended to identify such forward-looking statements. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to consider risk factors, including those described in the Company's filings with the SEC, that may affect the Company's future results. All forward-looking statements attributable to the Company and its subsidiaries or persons acting on their behalf are expressly qualified in their entirety by these risk factors. The forward-looking events discussed in this press release and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties, and assumptions about us. These forward-looking statements are based on information currently available to the Company and its current plans or expectations and are subject to a number of known and unknown uncertainties, risks and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These and other important factors are described in detail in the "Risk Factors" section of the Company's Annual Report on Form 10-K for the year ended March 31, 2025. Although we believe the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. We are not obligated to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions, the forward-looking events discussed in this press release and other statements made from time to time by us or our representatives might not occur.Company Contact:Public Relations Contact:Addentax Group Corp.
Phone: + (86) 755 86961 405
yoongxin.chan@zgyingxi.com Investor Relations Contact:Sherry Zheng
WAVECREST GROUP INC.
1-718-213-7386
sherry@wavecrestipo.com
View original content:https://www.prnewswire.com/news-releases/addentax-group-corp-announces-proposed-acquisition-of-leading-asian-ai-enabled-hong-kongbased-licensed-digital-lending-platform-with-over-hk2-billion-annual-loan-volume-302685096.htmlSOURCE Addentax Group Corp.
Original: Addentax Group Corp. Announces Proposed Acquisition of Leading Asian AI-Enabled Hong Kong-based Licensed Digital Lending Platform, with Over HK$2 Billion Annual Loan Volume
US Market News
5月前
Addentax Group Corp. Entered Into Memorandum of Understanding for Potential US$200 Million Strategic Investment with Middle East Royal-Backed Institutional Investors at Proposed Price of $1.50 per Share, Supporting AI and Crypto StrategyFebruary 10, 2026 9:25 AM
PR Newswire (US)
SHENZHEN, China, Feb. 10, 2026 /PRNewswire/ -- Addentax Group Corp. (Nasdaq: ATXG) (the "Company", "ATXG", "we", "us" or "our") today announced that on February 9, 2026, it entered into separate memorandum of understanding (each, an "MOU;" together, the "MOUs") with two institutional investors, backed by a Middle Eastern royal family, setting forth a preliminary understanding regarding a potential strategic equity investment totaling US$200 million to support the Company's business growth in artificial intelligence ("AI") and cryptocurrency financial services. Pursuant to the MOUs, subject to the negotiation and execution of definitive agreements, each investor intends to invest up to US$100 million by acquiring newly issued shares of common stock of ATXG at a fixed price of US$1.50 per share. The Company and the investors have agreed to work in good faith to negotiate and execute definitive agreements within six months, which would include, among other things, a share subscription agreement, disclosure schedules, and related corporate approvals. Any potential transaction remains subject to the completion of customary legal and financial due diligence, receipt of all necessary corporate, regulatory, and stock exchange approvals, execution of definitive agreements, and other customary conditions precedent. There can be no assurance that definitive agreements will be executed or that any transaction will be consummated.In addition to the potential capital investment, the Company and the investors are in discussions regarding a potential strategic collaboration focused on advancing the Company's core initiatives in AI and cryptocurrency financial services. These discussions reflect a shared interest in leveraging ATXG's technological expertise and market presence, including its presence in Hong Kong, combined with the investors' industry resources, regulatory insights, and global market experience to support potential product development and market expansion in AI and cryptocurrency-related solutions.If consummated, we believe that the potential US$200 million strategic investment would strengthen ATXG's balance sheet and could provide additional capital to support its key growth priorities, including scaling its AI-driven financial technology platforms, expanding its compliant cryptocurrency financial services portfolio, deepening market penetration in Hong Kong and the Asia-Pacific region, and continued investing in research and development. The proposed fixed per-share price of US$1.50 was discussed as part of the parties' preliminary understanding and reflects the Company's view of the potential investors' interest in ATXG's business model, long-term growth strategy, and the management team."This memorandum of understanding reflects a significant step forward in our ongoing discussions with institutional investors regarding a potential strategic investment in ATXG," said the Chief Executive Officer of ATXG, Mr. Hong Zhida. "The parties' preliminary agreement to explore an equity investment of up to US$200 million at US$1.50 per share reflects the interest in our AI and cryptocurrency financial services strategy, and our presence in high-growth markets such as Hong Kong. If consummated, this potential investment could provide additional capital to support our growth initiatives, including the continued development of our AI-driven financial technology platforms and compliant cryptocurrency services. We are also encouraged by the opportunity to explore broader strategic cooperation with these investors, subject to further discussions and the execution of definitive agreements, and we look forward to working toward arrangements that could create long-term value for our stockholders."About Addentax Group Corp.Addentax Group Corp. is an integrated service provider specializing in garment manufacturing and logistics services. For more information about the Company, please visit the website: https://www.addentax.com/. Caution Concerning Forward Looking StatementsAll statements other than statements of historical fact in this announcement are forward-looking statements in nature within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions are intended to identify such forward-looking statements. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to consider risk factors, including those described in the Company's filings with the SEC, that may affect the Company's future results. All forward-looking statements attributable to the Company and its subsidiaries or persons acting on their behalf are expressly qualified in their entirety by these risk factors. The forward-looking events discussed in this press release and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties, and assumptions about us. These forward-looking statements are based on information currently available to the Company and its current plans or expectations and are subject to a number of known and unknown uncertainties, risks and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These and other important factors are described in detail in the "Risk Factors" section of the Company's Annual Report on Form 10-K for the year ended March 31, 2025. Although we believe the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. We are not obligated to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions, the forward-looking events discussed in this press release and other statements made from time to time by us or our representatives might not occur.Company Contact:Public Relations Contact:Addentax Group Corp.
Phone: + (86) 755 86961 405
yoongxin.chan@zgyingxi.com Investor Relations Contact:Sherry Zheng
WAVECREST GROUP INC.
1-718-213-7386
sherry@wavecrestipo.com
View original content:https://www.prnewswire.com/news-releases/addentax-group-corp-entered-into-memorandum-of-understanding-for-potential-us200-million-strategic-investment-with-middle-east-royal-backed-institutional-investors-at-proposed-price-of-1-50-per-share-supporting-ai-and-crypto-s-302683753.htmlSOURCE Addentax Group Corp.
Original: Addentax Group Corp. Entered Into Memorandum of Understanding for Potential US$200 Million Strategic Investment with Middle East Royal-Backed Institutional Investors at Proposed Price of $1.50 per Share, Supporting AI and Crypto Strategy
US Market News
5月前
Addentax Group Corp. Announces Proposed Acquisition of Artificial Intelligence (AI)-empowered and Crypto-enabled Asset Management Platform, with Potential to Generate Approximately HKD 300 Million in RevenueFebruary 6, 2026 9:20 AM
PR Newswire (US)
SHENZHEN, China, Feb. 6, 2026 /PRNewswire/ -- Addentax Group Corp. (Nasdaq: ATXG) (the "Company", "ATXG", "we", "us" or "our") today announced the proposed strategic acquisition of the offshore wealth management and integrated cross-border service business of Hong Kong-based Riches Group, a provider of global asset allocation and cross-border services. The Company believes that, if completed, the proposed acquisition would support the Company's global expansion strategy by facilitating the integration of Riches Group's offshore business ecosystem, AI-enabled financial solutions, and digital currency/crypto service offerings. Based on preliminary internal estimates and subject to final closing and integration, the Company anticipates that the proposed acquisition could contribute approximately HKD 300 million in annualized revenue.Riches Group, headquartered in Hong Kong, has built a diversified service ecosystem, which includes global wealth management, international education, immigration consulting, and cross-border healthcare services. Riches Group has historically served high-net-worth clients across multiple jurisdictions. Subject to the completion of the proposed acquisition, the Company would gain access to Riches Group's core business assets, including its full suite of wealth management services, which range from private banking and fund custody to global fixed-income products and offshore/US dollar insurance. Based on information provided by Riches Group, these services have historically generated monthly transaction volumes exceeding HK$100 million. The proposed acquisition would also include Riches Group's cross-border lifestyle services, such as global property investment and management, international education planning, investment residency and citizenship, and medical travel services. Additionally, the acquisition is expected to cover Riches Group's corporate and fiduciary services, including offshore company registration, tax planning, and global trust establishment services, which have historically supported over 1,000 high-net-worth families and more than 10,000 households worldwide.The proposed acquisition is expected to provide the Company with access to Riches Group's AI-enabled wealth advisory capabilities. Riches Group has developed proprietary algorithms designed to support data-driven, personalized asset allocation strategies, real-time risk assessments, and market insights. The Company believes that, if integrated following completion of the acquisition, these capabilities will enhance the precision and efficiency of the Company's global wealth management services. In addition, subject to completion of the acquisition, the Company would obtain access to Riches Group's experience in regulated digital asset-related services, including compliant digital currency custody and investment solutions operating within Hong Kong's regulatory framework. The Company believes that these capabilities could support the offering of regulated digital asset exposure as part of diversified offshore investment portfolios, consistent with applicable regulatory requirements and evolving market demand.This proposed acquisition is designed to support the Company's expansion in the global fintech sector. Subject to completion of the acquisition, the Company intends to expand its offshore business footprint, gaining access to Riches Group's established network and leveraging its local expertise to enhance its presence in high-growth markets such as Southeast Asia, Europe, and North America. The Company also believes that, if completed, the acquisition could strengthen the Company's client network through the integration of Riches Group's high-net-worth client base and its strategic partnerships with over 100 international institutions. This expanded platform is expected to support the Company's ability to serve the global high-end financial needs of its clients. Moreover, following completion of the acquisition, the Company anticipates benefiting from the integration of Riches Group's professional team of over 4,000 advisors, along with its AI and digital currency R&D capabilities. The Company believes that these resources could support continued technological development and product innovation within the Company's cross-border financial services.Looking ahead, subject to the completion of the proposed acquisition, the Company expects to be able to leverage its Nasdaq-listed platform, access to global capital markets, and brand profile together with Riches Group's offshore operational capabilities to support the development of an integrated cross-border financial services platform. The Company believes that this combination could enhance its ability to serve clients across multiple jurisdictions within the global financial technology sector."We are excited about the opportunity to integrate Riches Group's expertise and innovative capabilities into the Company's global growth strategy," said Hong Zhida, CEO of the Company. "If completed, this proposed acquisition is expected to allow us to accelerate our expansion in the offshore financial market, leverage AI and digital currency, and create greater value for our stockholders, clients, and partners."About Addentax Group Corp.Addentax Group Corp. is an integrated service provider specializing in garment manufacturing, logistics services, and property management and subleasing. For more information about the Company, please visit the website: https://www.addentax.com/.Caution Concerning Forward Looking StatementsAll statements other than statements of historical fact in this announcement are forward-looking statements in nature within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions are intended to identify such forward-looking statements. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to consider risk factors, including those described in the Company's filings with the SEC, that may affect the Company's future results. All forward-looking statements attributable to the Company and its subsidiaries or persons acting on their behalf are expressly qualified in their entirety by these risk factors. The forward-looking events discussed in this press release and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties, and assumptions about us. These forward-looking statements are based on information currently available to the Company and its current plans or expectations and are subject to a number of known and unknown uncertainties, risks and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These and other important factors are described in detail in the "Risk Factors" section of the Company's Annual Report on Form 10-K for the year ended March 31, 2025. Although we believe the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. We are not obligated to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions, the forward-looking events discussed in this press release and other statements made from time to time by us or our representatives might not occur.Company Contact:Public Relations Contact:Addentax Group Corp.
Phone: + (86) 755 86961 405
yoongxin.chan@zgyingxi.comInvestor Relations Contact:Sherry Zheng
WAVECREST GROUP INC.
1-718-213-7386
sherry@wavecrestipo.com
View original content:https://www.prnewswire.com/news-releases/addentax-group-corp-announces-proposed-acquisition-of-artificial-intelligence-ai-empowered-and-crypto-enabled-asset-management-platform-with-potential-to-generate-approximately-hkd-300-million-in-revenue-302678964.htmlSOURCE Addentax Group Corp.
Original: Addentax Group Corp. Announces Proposed Acquisition of Artificial Intelligence (AI)-empowered and Crypto-enabled Asset Management Platform, with Potential to Generate Approximately HKD 300 Million in Revenue
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