DALIAN, China - Ionix Technology Inc (OTC:IINX) has taken a significant step in expanding its business operations with the acquisition of Dalian Huagang Logistics Park Co., Ltd., a notable entity in the logistics industry. The definitive agreement, announced today, grants Ionix full control of Dalian Huagang and its subsidiary, Dalian Huagang Cross-Border E-Commerce Trade Co., Ltd.
The Dalian Huagang Logistics Park spans 23,000 square meters and includes facilities for cold chain storage, logistics operations, office space, employee accommodations, and online broadcast capabilities. The park, which is a personal investment of IINX's principal shareholder Liu Yubao, has seen investments of USD 2 million for its initial construction. An additional USD 1.65 million is allocated for installing specialized refrigeration equipment, with plans for a trial run in June 2024.
Upon operational commencement, the logistics park's cold storage and online sales channels are projected to generate substantial annual revenues of USD 6.85 million and USD 13.7 million, respectively. These figures are expected to contribute approximately USD 7.8 million in net profits annually to Ionix Technology.
Liu Yubao, who serves as the legal representative and general manager of Dalian Huagang, has been instrumental in the development of this venture, which is entirely self-financed and developed by him. CEO Li Cheng of IINX has expressed confidence that the acquisition will positively impact the company's growth trajectory.
This strategic move by Ionix Technology is based on a press release statement and aims to bolster the company's presence in the logistics sector, leveraging Dalian Huagang's established infrastructure and potential revenue streams.
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