FUZHOU,
China, Dec. 18, 2024 /PRNewswire/ -- Shengfeng
Development Limited ("Shengfeng" or the "Company") (NASDAQ: SFWL),
a contract logistics company in China providing
customers with integrated logistics solutions, announced
today the completion of the Ningde Shengfeng Smart Logistics
Center (the "Ningde Center"), a facility that will be primarily
used to serve Contemporary Amperex Technology Co., Limited
("CATL"), a client of Shengfeng that operates in the battery
manufacturing industry.
The Ningde Center was constructed with a total investment of
approximately RMB 244.59 million
and spans 47,423 square meters with a total building area of
59,442.71 square meters. This facility is designed to integrate
warehousing and distribution, providing logistics solutions for
CATL and its supply chain partners.
The Ningde Center advances Shengfeng's efforts in enhancing
its operational capabilities and solidifying relationships with key
clients like CATL. By catering to CATL's logistics needs and
those of the broader industrial chain, the Ningde Center is
expected to attract new business opportunities, thereby
strengthening Shengfeng's position as a leader in smart logistics
in China.
"This milestone marks a significant step in Shengfeng's growth
strategy," said Mr. Yongxu Liu, Chairman and CEO of Shengfeng. "The
completion of the Ningde Center, which serves CATL and other
clients, highlights the Company's ongoing commitment to providing
innovative and efficient logistics solutions. It underscores our
dedication to serving a wide range of industries in the Chinese
market, especially the rapidly growing new energy vehicle sector.
We anticipate that this facility will drive our business growth and
reinforce our market position."
The grand opening ceremony for the Ningde Center is scheduled
for December 20, 2024, with
participation from industry leaders, local officials, and
representatives from Shengfeng and CATL.
About Shengfeng Development Limited
Shengfeng Development Limited is a contract logistics
company in China providing
customers with integrated logistics solution services. Established
in 2001, the Company has developed extensive and reliable
transportation networks in China,
covering 341 cities across 31 provinces, as of June 30, 2024. The Company provides integrated
logistics solutions comprised of B2B freight transportation
services, cloud storage services, and value-added services. The
Company applies well-established management system and operation
procedures to assist companies in China to increase efficiency and improve their
own management systems with respect to transportation, warehousing
and time management. For more information, please visit the
Company's website: http://ir.sfwl.com.cn/.
Forward-Looking Statements
This press release contains "forward-looking
statements." Forward-looking statements reflect our current
view about future events. These forward-looking statements involve
known and unknown risks and uncertainties and are based on the
Company's current expectations and projections about future events
that the Company believes may affect its financial condition,
results of operations, business strategy and financial needs.
Investors can find many (but not all) of these statements by the
use of words such as
"approximates," "believes," "hopes," "expects," "anticipates," "estimates," "projects," "intends," "plans," "will,"
"would," "should," "could," "may" or other similar
expressions in this press release. The Company undertakes no
obligation to update or revise publicly any 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
review other factors that may affect its future results in the
Company's registration statement and other filings with the U.S.
Securities and Exchange Commission.
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SOURCE Shengfeng Development Limited