MingZhu Logistics and Huawei Logistics enter strategic cooperation agreement

MingZhu Logistics Holdings Limited ("MingZhu" or the "Company") (NASDAQ: YGMZ), a leading trucking service provider, announced a significant new strategic cooperation with Guangdong Huawei Modern Logistics Co., Ltd ("Huawei Logistics"). 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 ("CRexpress").

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 ("TEUs") nationwide, representing year-on-year growth of 50% and 56%, respectively. (Source: www.gov.cn)

Mr. Jinlong Yang, Chairman and Chief Executive Officer of MingZhu Logistics Holdings Limited, commented, "Huawei Logistics built CRexpress into an expansive transportation platform connecting the Greater Bay Area with other countries in Asia and Europe. This new cooperation agreement is aligned with our expansion strategy, as we seek to maximize the return of our core assets, while leveraging our expertise and leadership position. We expect this cooperation with Huawei Logistics, will further solidify MingZhu's role in helping to enable the rapid growth the country is undergoing by facilitating the cost effective, reliable transport of goods across long distances."